Great Insurance Deal

Glad it worked out. Becky is the best, isn't she? She pulls Wisconsin up a notch, in my eyes.

 

I am also in the process of reevaluating insurance on my cars (etc) so thanks for the information.

How did you assess the quality of coverage from StateFarm? I don't know about Chubb but I have little confidence in getting any satisfaction from The Majors (StateFarm, Farmers, Allstate, et al) if something were to happen to an exotic. Do you have some sort agreed value or appraisal? Control over repair and parts? Usage limits? Huge deductible? Local data points are so much more valuable than the general net-lore when it comes to insurance information.

 

Here is what I have:

State Farm Insurance, 1987 328 GTS, $317/6 months, $250 deductible. In case of total loss State Farm will pay the market value of the car. In case of repair, I can choose the repair facility. No usage limits. The small diference in price is due to location. I'm in NW New Mexico almost at the Colorado State line.

Regards,

Milton

 

Have you looked at suspending your insurance. It keeps comprehensive on but removes everything else.

Everytime you want to drive, just pick up the phone....let you agent know you are driving it that day. (Leave a message on their machine if they are not there.) You are covered for liability, collision etc when you do that.

As long as you drive it occasionally, in my case once a week best case, it does not trigger additional charges.

May want to ask you agent about it.

 

A few things to keep in mind when shopping insurance:

Agreed value limits are the most the company will pay up to market value, not what they will pay if a total loss, so don't insure your 308 for $100k and set fire to it! Also, most policies will not let you underinsure it without a penalty. For instance if you insure your car for 80% of the value, they may pay only 80% for ANY claim, no matter how small.

Shop for coverage, not just price. Make sure that you are getting all the coverage you need and want. Colorado has about the lowest minimum limits for liability in the country. Much lower than any of us should have. That means that one: cheap insurance may not cover all your liability if you crash into someone, and two: the car that crashes into you may have cheap insurance! In fact, State Farm determined in 1999 that 34% of cars on the road in CO were uninsured or under-insured. Yikes!

Most companies will allow you to chose anyone you want to fix your car. BUT, they may not pay for all of it! They will generally pay the average market labor rate and the retail price of parts. If you take your car to a very expensive shop, you may be paying a little extra out of pocket. Also, most policies allow for salvage parts, not all new. This is THEIR choice, not yours. You can have all new parts, but you may be paying extra.

sorry for the long note, hope this helps. -m

 

Any other recs out there for agents, companies, etc. please PM me. Thanks

 

You must buy a lot of other insurance from your your agent. This is WAY too much work for the amount of money paid for a single auto policy, so I can't imagine anyone getting this type of treatment unless his account generated hundreds of thousands of dollars in commissions and this was his hot button service issue. I do not recommend this course at all. What if you forget to call? What if the agent erases your message? What if you have a terrible accident and the agent says you never called? Bad idea to ever bind insurance coverage over the phone. ALWAYS get an insurance policy in WRITING.

 

I do not think it is the amount of insurance i do with this agent....just been doing business with her for a long time.

Your point on calling is possibly a concern but she has done nothing but given me top notch advice and often comes up with ways to move coverage around to maximize my coverage for minimal cost etc. Keep in mind she also carries the umbrella policy i have in place.