For those who register in Montana, what insurance do you use?

State Farm has no problem with mine in IL. Used to be Hagerty but they wanted separate Ins for MT.

 

American Modern

Mathis Insurance Agency
1313 11th Ave
Helena, MT 59601

 

I'm curious if someone with a registered car in Montana but garaged in another state has experienced any problems if they need to file a claim?

 

Bottom line, I don't think anyone will file a claim with any insurance co unless it is a total loss. Anything that has an insurance claim or police report goes directly to Carfax, and there goes your resale value, unless you have an agreed upon value and loss of value clause in the insurance policy involved. The thing that worries me is someone hitting you (ie rear end your car) and they have the bare minimum/no insurance. You could probably try to sue for the difference but if there are no assets your out of luck as I see it. Car is damaged and devalued on the spot and there are not many resources except your own and your insurance co if you have an uninsured driver clause.

 

Smart and well capitalized people don't file a claim for an exotic unless there is a total loss. However, after looking at dozens and dozens of exotic cars for sale over the years, many people do file claims that are far from a total loss. They do this either through ignorance or lack of money to fix their cars through their own cash flow. I agree with you that filing a claim is a quick way to diminish the value of your car. My wife recently ran over a raccoon which caused $3500 in damage to her Lexus. We paid for it our of our pocket rather than insurance so it wouldn't show up on Carfax. With hindsight being 20/20, that was probably not the smartest thing to do because......it's a Lexus but that was my gut reaction. Insurance should only be used for catastrophic loss you can't afford to repair with your personal cash flow.

My question however remains unanswered. Has anyone had a problem getting paid on a claim with their car when it is registered in MT but garage in another state? I'm reasonably certain some have had no problem, but I'm also reasonably certain some have. I never rely upon my insurance agent to give me the truth. I ask adjusters if I want to know the real truth. Thus, if I have a $500,000 car registered in MT and garaged in Indiana, what are the chances that a total loss claim will be honored. Only people that have been in that situation can answer that question, at least to the extent of their personal experience. My personal opinion is that adjusters are wise to the MT registrations and will look into your policy to find a reasonable exclusion to get out of paying your claim. Most insurance policies today have a clause that coverage is governed by the laws of the state where the car is garaged. If you purposely are trying to avoid taxes illegally, they will not cover any claims. I could certainly be wrong, that's why I'm asking the question. The scope of the claim is not relevant.

 

Don't know the answer to your question about coverage. I suppose any Ins co will use whatever they can to weasel out of paying a claim and your concern may be a valid one. I hope I/we never have to find out. Appreciate the response though. I asked my State farm Agent locally who wrote the policy and he said no problem in IL.That is with an agreed upon value if totaled. and a a loss of value if repaired even though the LLC is in MT.

 

Bypass the sales people (agents) and go to the adjuster. I like to independently contact adjusters through LinkedIn. The adjuster will tell you exactly what will happen and point to the clause in your policy if there is an exemption. If the adjuster gives you the green light, that's all you need.

 

Another avenue as well if it's available is direct contact with the owner/operator of an agency. I'm with State Farm and they have an office 5 miles from my house. Owner/operator is a car buff/collector and always makes time for me. I couldn't be happier. In addition he's been in the biz for thirty years and knows his *hit.

 

State Farm is a franchise. His business is to make time for you and make you happy. I'm not saying he isn't trustworthy. I like to "trust but verify". That's just me. Adjusters don't answer to your agent, they answer to corporate and corporate has a certain expectation from their agents and another one from their adjusters.