$2300 from Farmers (where I have all policies). $1600 of that being collision. Should note: CA, 1 incident on record 6 years ago.
$675.90 a year from State Farm with multi-vehicle, 7,500 miles per year or less and accident free discount. Up $74.80 from last year. Replacement value which may or may not work out for me in the case of a total loss.
Yes, I was surprised too but State Farm had no problem with the 355. I use Hagerty for my Lotuses because State Farm doesn't want to insure them.
how do you work that out? can't be $100k stated value and able to drive 3k miles? good for you though!
Already a headache with Grundy, with AIG MVP I just emailed my personal guy the VIN of new car and immediately covered. I have to submit a big application to Grundy with pics with title and they could take 24-48 hours for underwriting to approve. Sets up an inefficient situation of a gap in the insurance while it is getting delivered, maybe the worst time.
It's not an agreed value policy. It's ACV or replacement cost. If the car is totaled I get the value of the car based on current market value, plus tax and registration. Even by conservative estimates that's way more than I paid for it. That works for me. No restrictions on driving other than I claim under 5k/year. But I claim that on all my cars.
Make sure you know what you have. Stated value and agreed value are different. Stated value is used to under insure a vehicle to reduce the premium. Agreed value means you get the agreed value if the car is totaled. With stated value you get the lower of the stated value or ACV if the car is totaled.
Interesting... It has my limit at $112k, so I believe I have the latter then. Although, my policy notes that I have an "Agreed Value Endorsement"
It can be hard to compare rates without knowing the entire picture. Deductibles, uninsured motorists coverage, and other add ons can be very different. I have an umbrella policy that requires a minimum liability coverage on all my stuff. That always jacks up my premiums. With that said, I pay $950/yr for 63K value with American collectors. The F355 cost more to cover per dollar in agreed value than my other collector cars. I guess it is more prone to getting destroyed than the Toyota FJ40!
Currently I have 5 cars on a USAA policy, market value $428 per/6mo Just got a hagerty quote $85k agreed value ~$800 per/6m0 I think some of these rates are ridiculous lol. Realistically, my ferrari is worth what, $80-90k or so? the rate is 428. My beater is a 2003 saab, worth maybe $2500, the rate is $350
Dont you mean "Loti" Interesting about State Farm because I had my Esprit with SF before needing to move it somewhere else for a bit
I should probably try State Farm again but the rate with Hagerty for my Elise and Elan combined is only $630 per year which seems pretty reasonable.
for sure for $630. I was just curious about SF no wanting to cover a lotus since I had one with SF. Sometimes I think it comes down to the agent.
FYI Hagerty pays agents around 10% profit on policies. Not like they have a bunch to work with unless agents are allowed to try more than that.
Sure. In my experience I've always been by chance (golf) buddies/friends with the people I've used for insurance (of all kinds). It just seems that if you happen have a relationship with the agent they can do more and/or are willing to find more options for you. Just the comment about SF not wanting to touch certain cars when my SF guy did no problem just put in my head that the agent may play a larger role than just being a puppet for whatever company is on the front of their business.
