Insurance carriers

[shelbyman]

Hi everyone. I'm new to the forum and just got my car #0463 last week. Was wondering who everyone is using for insurance? I use AAA for my other cars but they quoted me a price of $3386 for an annual premium. Kinda made me cough. Was thinking this is very high... and that they are nuts so I'm asking how it went for all the rest of you? Thanks in advance for your input.

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[Myshelby3425]

Wow, that's crazy. In Miami which is high, I was quoted $1032 every 6 months with Geico with clean driving record.


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[rbfowler79]

I use Progressive and they didn't even have the GT 350 trim level as an option on their site so I called them. I think it was about $700-$800 every 6 months... I have a clean driving record, married, and 3 other vehicles...

 

[bdub85]

I got quoted ~110 a month through Farmers.

 

[needspeed]

I am paying $600 per year on mine, but I have been with State Farm for decades and insure anything and everything with them and I am 57 and have every discount applied .....Steve

 

[Myshelby3425]

I am paying $600 per year on mine, but I have been with State Farm for decades and insure anything and everything with them and I am 57 and have every discount applied .....Steve

Lol, I wish


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[TripleYellow]

I added mine to my collector car policy through Classic Collectors by Infinity. They will accept modern collector cars and classify them as "Exotics". Similar guidelines as other collector car policies - no one age 25 or under, not driven to work, pleasure purpose only, garaged, etc and an annual mileage limit of 5000 miles. I have several vehicles on the policy so I'm getting multi car and several other discounts (old guy, clean record, etc). My annual premium with a $60K value is right at $600 (yes, that's a year). BTW, I'm a Farmer's insurance agent in Texas. If I added it to my Farmer's personal auto policy the premium was around $400 per 6 months - again including several nice discounts such as auto/home. multi car, etc. I carry very high liability limits on both policies but the Farmer's policy would not be "agreed value" on the Shelby like the collector policy. You might check with a Farmer's agent in California for a quote. Good luck.

 

[krt22]

I carry very high liability limits on both policies but the Farmer's policy would not be "agreed value" on the Shelby like the collector policy. You might check with a Farmer's agent in California for a quote. Good luck.

This one made me wonder. When I totaled a car ~12 years ago, I got "estimated retail value", where the ins company essentially collected numerous ads from private party and dealer sales and came up with the value, much like you would with real estate appraisals. The value ended up being more than KBB, which was nice

Now on a brand new car with dealers asking sky high ADMs, would it not be reasonable enough to assume they would arrive at a similar value (above MSRP) based on the current market conditions?

 

[Rogue]

I use Progressive and they didn't even have the GT 350 trim level as an option on their site so I called them. I think it was about $700-$800 every 6 months... I have a clean driving record, married, and 3 other vehicles...

Had that issue with my Boss 302 Laguna Seca - somehow shows up as a Mustang GT to insurance.

 

[TripleYellow]

Now on a brand new car with dealers asking sky high ADMs, would it not be reasonable enough to assume they would arrive at a similar value (above MSRP) based on the current market conditions?

LOL - Probably - Maybe - Perhaps - Who Knows. Technically most daily driver type policies are "actual cash value" and that value varies.
If you have an "agreed value" policy you don't have to wonder - you "agree" to the value when you add the vehicle to the policy and your premium is based on that number. No battle over value if a total loss.

 

[krt22]

Gotcha, you are right, better to pay for the piece of mind vs rolling the dice. My rate for a year with Mercury is < $600 so still on the fence on how I want to insure it since I wouldn't have any other cars on a collectors policy

 

[50 Deep]

USAA has me at about $109 a month.

I'm not in my 30's yet. Pretty good price.

 

[nastang87xx]

Farmers offered me $110/mo, clean record. Geico and Progressive about the same. AAA, Am Fam, and eInsurance were so laughable it's not even mentioning.

 

[Readfast]

I got a policy with Grundy. It's a collectors policy, garage kept not a daily driver. Agreed value of 60k that will not go down unless I request it to. They will increase value at renewal (automatically) if the car has gone up in value. $801 a year. They don't do installments, must be paid in full at inception and at renewal. I'm in my mid 40's and don't have any other vehicles insured with them. Best price I received from anyone. Tried Hagarety but they didn't consider it a collector. They will insure a 15 though and told me $400 a year if I had a 15.

 

[Rick R]

I moved all my four cars to Geico just after christmas. Paying $2k a year total for a fiat 500, a 2013 explorer, the shelby and a 996 turbo. Not sure how they do it, the next cheapest quote was $3,200 a year for all four.

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