Stupid Insurance

[99SVTAddict]

I'm so sick of car insurance it makes me sick. Never been in an accident, no point, nothing....and I still feel like I'm paying out the ass just because of other people on the road that can't drive for shit.

I called Grundy's to put the Cobra on collector insurance and they said that for any car biult before 1974, you need to have a second collector car insured with them for them to consider the newer vehicle since they have so many claims. WTF? That wasn't the story 3 months ago. Whatever.

If I could reclaim the insurance premiums I've already paid over the years I'll bet it would be a higher amount than my 401K account. The things I could do with all that money.

Fucking rip off. :mad:
That is all...continue on with whatever you were doing.

[99SVTAddict]

Anyone have Progressive insurance? I just filed out their online info and it quoted me a savings of over $600 every 6 months for all 3 vehicles.

:D

[Swifster]

I'm in the business. Progressive is cheap, but from the claims end, they are 'inexperienced'. This means if you have an accident, you get what you pay for. If the SVT is not your daily driver, check out some other collectors car insurance company (do a web search). I'm sure a lot will depend on the mileage you put on the car. If this is your daily driver, they won't insure it.

[357windsor]

Insurance is such a waste. If you don't use it you're paying for nothing. If you do then your rated go up-WTF??!! It's just like house insurance! :mad:

[99SVTAddict]

Well, at $1400 a year savings it seems like a calculated risk.

As for the Cobra, I put 3-5K miles a year on it. Like I said, Grundy's doesn't want to touch any cars biult prior to 74'....I'll research more.

I'm prepaid until July so I have till then to make my decisions. :)

[BigWheelinBubba]

Well, at $1400 a year savings it seems like a calculated risk.

As for the Cobra, I put 3-5K miles a year on it. Like I said, Grundy's doesn't want to touch any cars biult prior to 74'....I'll research more.

I'm prepaid until July so I have till then to make my decisions. :)
Try Haggerty...

[Swifster]

Insurance is such a waste. If you don't use it you're paying for nothing. If you do then your rated go up-WTF??!! It's just like house insurance! :mad:

Your car insurance rates only go up from a loss if you were at fault! They don't go up if you are not at fault. Do not confuse normal across the board rate increases (which are dependent on a companies overall claim losses). Check you declaration certificate when you get it to see what you are paying for. The biggest chunk will be for medical unless you are under 25 driving high risk cars :P .

As for Hagerty, they are probably a little more retrictive than Grundy. But there are companies that consider newer cars to be 'collectable'. Check out Great American Classic Collector. I've actually looked at a few late model Corvettes. These were '94-'96 models. You have to shop around. Some companies have mileage limitations, but these are usually 3000 or 5000 miles. Advise the agent of the yearly mileage that the car is used and don't mention ANYTHING about drag strip use.

[LodderD]

Chuck I looked into Haggerty, they were going to insure my cobra for $500.00 a year(full coverage), the miles restriction was 2500 per year, but when they found out I lived in Kenfucky and had a teenage driver they withdrew the policy. It was because of Kenfucky laws, it wasn't them. Check with 'em.

[Fiveofeen]

hagerty arent bad. I will be insuring the stang through them since i have a primary driver. If you can fit into thier rules its a gravy setup.

[NTIMID8]

Anyone have Progressive insurance? I just filed out their online info and it quoted me a savings of over $600 every 6 months for all 3 vehicles.

:D

I do and have been very happy with them..Infact you also get a sizable discount if you pay the premium in full.

Phil

[Strtracer]

I currently use Progressive also. Just be aware, they have a N2O exclusion. But price wise, 6 months of full coverage on my DD is $120 less than any one else, and by paying the full 6 months up front, I saved another $100. $400 for full coverage for 6 months is a damn good price.

[Joe5.0]

I use Esurance.com, and have been pretty happy. It aint the cheap, but they are cheaper than anyone else I called. I have a couple tickets and a claim within 3 yrs, so my rates get jacked. I am in a situation right now where I just paid off the stang, and I cant decide whther or not to keep collision on it. No-fault + comprehensive (fire, theft) only is gonna cost me $180/6months, but adding collision onto it even with a $1k deduc is gonna take it to 1k/6 months. I dont know if its worth it since the car only has a street value of $5k. I'll probably just put comprehensive on it, and just NOT get into any at-fault accidents. If someone rear ends me I'll just have to sue them or the ins company to get my $$. :rolleyes:

[Swifster]

I dont know if its worth it since the car only has a street value of $5k. I'll probably just put comprehensive on it, and just NOT get into any at-fault accidents. If someone rear ends me I'll just have to sue them or the ins company to get my $$. :rolleyes:

This isn't how the Michigan No-Fault Law works. If you don't have collision coverage, the state limits the amount you can get from the other insurance company. This is called a Mini-Tort and is limited to $500. There is no suing unless the car that hit you is uninsured. If the guy was uninsured, what makes you think you'll get money out of him? You'll be able to use your judgement for toilet paper. I don't recommend pulling collision until the value of the car drops to $2000 or $2500.

All you'll do suing somebody is make the attorney rich.

[Strtracer]

I don't recommend pulling collision until the value of the car drops to $2000 or $2500.


This is good info to consider. What do you recommend for a car thats got 3-4k of value, but has 8k and up in upgrades. For a long time Ive carried full coverage on my stang, I only carry coverage when Im driving it,, drop all insurance when its locked in the garage. But if I wreck it(never had a collision claim), Im only gonna get 3-4k, have to buy it back and strip it to re coupe the loss, what do ya do??

[Swifster]

Depends on what's been done and if the 'upgrades' actually add any value to the car. Somethings you might be able to recoup. Keep the receipts. You can raise the deductible amounts (from say $250 to $500 or a $1000). Same with the comp. I'd always leave the comp on the car. It protects against damage while in storage. Most companies have some form of storage insurance that is pretty cheap.

[Strtracer]

Same with the comp. I'd always leave the comp on the car. It protects against damage while in storage. Most companies have some form of storage insurance that is pretty cheap.

Here is a problem you will run into with Progressive, I wanted to put only comp on since Im not driving, and they wont give me a comp only policy, they require collission with it.

[Swifster]

Here is a problem you will run into with Progressive, I wanted to put only comp on since Im not driving, and they wont give me a comp only policy, they require collission with it.

I know of no company that requires collision with comp. Are you sure they just wanted the medical? Most policies will need the medical. But most companies if you can verify the storage process will kill the collision and medical for the winter. You might want to check with some other companies before winter shows up next year.

[Strtracer]

Im gettin ready to start the whole insurance shopping deal, looking for house, car, car,car, that's reasonable for the whole cost/coverage thing

[357windsor]

Im gettin ready to start the whole insurance shopping deal, looking for house, car, car,car, that's reasonable for the whole cost/coverage thing

I have State Farm. Had to have the 82 appraised and had lots of pics taken. They were the only insurance company that would insure it as a recreational vehicle. When it come back out I'm gonna have to get it apprasied again.

[Joe5.0]

I wasnt aware that the maximum amount allowed by law is $500, that really bites. I dunno, I'll have to call around and weigh my options. I can afford it, but its gonna take my premium for both my cars to $400/mo, as opposed to $275/mo with full coverage on the Acura & Comprehensive on the Mustang. :confused:

I get raped on collision because I have 3 claims in the past 3 years (2 non-fault, 1 was my fault in a Enterprise car - spun in the snow), and I have a couple old speeding tickets. :rolleyes: :mad:

[Swifster]

Those two not-at-fault claims won't raise your rates. Tickets in the last three years will (along with the at-fault claim). Always fight your tickets.

[StangRacer]

I have State Farm. Had to have the 82 appraised and had lots of pics taken. They were the only insurance company that would insure it as a recreational vehicle. When it come back out I'm gonna have to get it apprasied again.
I have State Farm also......just suspend your insurance on the car instead of taking it off totally and you won't have to have it re-appraised.

[Joe5.0]

Those two not-at-fault claims won't raise your rates. Tickets in the last three years will (along with the at-fault claim). Always fight your tickets.

I know that, you know that, and thats how it is supposed to be. However, ins companied still raise your rates if you make a claim, regardless who was at fault. They had to pay so they try to recoup some of that money. I confronted State Farm about this exact issue (they raised my premium 300/6mos after a non-fault accident, and i had no tickets at the time) and they said it was due to a new rating for the car. Problem was that my cousin also had a 94 GT, almost exactly like mine and his rates didnt go up a cent, the cars insurance rating was the same as mine, and he was also through state farm. Also, there is a discount for having no claims in your history which gets elmininated regardless who is at fault.

And def dont suspend all coverage, I made that mistake. You fall into a much higher $$ bracket if the car went for more than 30 days w/o some type of insurance on it. :mad:

[Swifster]

[QUOTE=Joe5.0]I know that, you know that, and thats how it is supposed to be. However, ins companied still raise your rates if you make a claim, regardless who was at fault. They had to pay so they try to recoup some of that money. I confronted State Farm about this exact issue (they raised my premium 300/6mos after a non-fault accident, and i had no tickets at the time) and they said it was due to a new rating for the car.QUOTE]

Without seeing your policy, and without knowing your record, I will repeat myself so you understand. INSURANCE COMPANIES DO NOT RAISE RATES ON COMP LOSSES AND NOT-AT-FAULT ACCIDENTS. I've been in the business 20 years and have never seen this done...even once. I've seen changes where a mistake may have been corrected (like the insurance company realizing that Mustang was a V-8, not a 4 or 6 cylinder) or they found out the primary driver was somewhere between 18-24. They don't do it and can't do it. This state is heavily regulated.

Let me make a couple of suggestions. First, read your policy. I would almost bet the house that less than five who frequent this board has ever read their policy. Read it and understand what you are paying for. And then check it against your declaration certificate (the sheet that shows what you are paying for.

Second, you should be shopping your policies every year or every other year. A pain? Yes, but no different than looking for a deal on anything else.

It never stops amazing me how many complain about their insurance when they can't take the time to even read what they are spending their money on. No one asks about what is covered and what isn't. Those that have Progressive should be aware that they do not cover any form of aftermarket stereo equipment. It IS spelled out in the policy. But when that kicker box is stolen, or that Pioneer stereo ends up missing, it's Progressive's fault because the owner never read his policy.

[BigWheelinBubba]

It never stops amazing me how many complain about their insurance when they can't take the time to even read what they are spending their money on. No one asks about what is covered and what isn't. Those that have Progressive should be aware that they do not cover any form of aftermarket stereo equipment. It IS spelled out in the policy. But when that kicker box is stolen, or that Pioneer stereo ends up missing, it's Progressive's fault because the owner never read his policy.
When I had my IROC the Kenwood CD player was stolen. Liberty Mutual asked if it was the OEM radio to which I answered "yes"... They cut me a check for $285 to replace the stock Bose cassette player ;)