This sounds exactly like my conversation with Hagerty. I can drive it as *I* (specifically, ME) like, but not in a daily/constant manner of a daily driver. Out driving, and a quick stop by the store? Fine. Weekly grocery trips? No. Drive to work on occasion? Fine. Every day? No. Also, since I forgot in my original post: 1985 308QV; AV is around $65K. NO ONE but me is on the policy, and I actually filed an exception to my son (that he is disallowed from driving the car, completely, and not considered on the policy.)
1989 328 GTS and two of my other cars (a Porsche and Aston Martin) on one policy with SAFECO for a total premium cost of $1,200 for all three. Agreed value for the 328 is now $130,000 (but was $150,000 for the past 2 years) and have generous agreed values for the other cars as well. No valuation appraisals necessary, just supplied the 7 photos for each car that they designated. Unlimited mileage, and no restrictions for all three. Only caveat was I had to have another car to drive, which I do, but didn't have to designate it as a daily driver or even identify it. IMO, it's one helluva deal!
I'm also using SAFECO(Liberty mutual). $235/yr as a daily driver, full coverage. 83QV. I called Hagerty once. They wanted way more and didn't want me to drive to work, so that was a no go. Some weeks, I used to use it for work commute all 5 days, now it goes no where, with covid.
Nice! Do you have an agreed-upon value on the policy? It would be interesting to know what the coverages and deductibles are. That seems like a really low price. I'm at $45k AV on my Mondial with good coverage through Grundy for just under $500 a year (in Texas and with a speeding ticket on my record). I'm listed as the only driver. 2cam
I have no agreed upon value, but I used it once with the 456 and they were very generous. The value of a car, even a Ferrari doesn't keep me up at night. Much more worried about some dark foggy night when I hit some pedestrian by accident. That could cost millions.
I'm embarrassed to post what I pay. Metro NY probably highest locality around. USAA unrestricted policy on 2 f cars , 4 other cars (full comp & collision, 1k deductible) , 3 drivers including 19yrold son at $18K / year. I didn't like the restricted or agreed value policys, in fact one of them said no bc of young son in household . I think I pay the most of everyone I talk to.
I’m in Boston with almost the same stable of cars and young drivers (2) and about the same Coverage. 19k. Ugh Sent from my iPhone using FerrariChat
Just curious if either of you had shopped your policies in the past two years? Normally, Insurers penalize the old customers with high rates and rate inflation on a depreciating (normally) asset. New customers often get teaser rates, which then go to the prior sentence's pricing structure.
Hagerty (CDN Dollars): 1982 308 Valued At - $75K Family Protection - $2 Million Deductible - $100 Premium is $649
I did and was declined by most. 2 boys with speeding tickets living in the house even if they aren’t allowed to drive my “nice” cars. Haggerty etc. declined to quote.
I am in SF and north of 20. One son just turned 18. My 308 is sub 1k but I am getting crushed on our 812 and portofino.
Based on posts, I’m guessing regular (non-agreed value) policies tend to be less expensive than agreed-value policies. I’m always concerned an insurance company will try to low-ball the value of a car and total it out and leave an owner without enough funds to replace what they lost. Anyone here have prior experience with such a scenario, and what was the outcome?
American Modern 88 328 GTS, can't be daily driver AV $85,000 $650/yr with 3000 mile limitation Had 5000 mile limit the first year but only went 2500. I believe that was $800/year. Shopped Hagerty and was quoted $1700/year with 3000 mile limit. WHAT! Grundy was actually the cheapest at $500/yr but I couldn't get coverage because the state of TN was locked down on new policies due to snow melt and flooding in April. We haven't had any significant snow in at least 3-4 years. ?????? Maybe I need to look at some other companies.
83QV, 480$ yearly, No winter driving (-5 month), agreed max value 118K $, tracking mandatory. Best, Peter