Lets talk car insurance !!!

[Oakley]

you can thank the federal government for the price increase.

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[tomservo92]

I was just looking into switching my 2015 GT from Allstate ($1,860/year) to Hagerty ($675/year with an agreed value of $28,500 per KBB). It only has 36,000 miles on it and since I'm retired, it only gets driven a couple of times a week. I put less than 1,200 miles per year on it.

 

[Oakley]

I was just looking into switching my 2015 GT from Allstate ($1,860/year) to Hagerty ($675/year with an agreed value of $28,500 per KBB). It only has 36,000 miles on it and since I'm retired, it only gets driven a couple of times a week. I put less than 1,200 miles per year on it.

im considering this since my 2022 only has like 8400 miles on it.

 

[turbofiveoh]

For those that have policies with specialty carriers that are based only on mileage restrictions please let me know what type of policy you are using. I would switch my S550 to that kind of policy in a heartbeat if it allows me to drive the car where and when I choose. Like everybody else here I have a perfect driving record, multiple discounts, and still I am paying a king's ransom for coverage.

Question for those with specialty policies: Is your car modified? My S550 has all kinds of modifications, including a supercharger, which may disqualify it from a specialty policy.

 

[RTFM]

I am with Hagerty at 1600 $/yr for an MSRP agreed value. Conditions are: Must park inside garage and must have another daily. Check and check
Never had a claim, so I don’t know if Hagerty is pleasant to work with or not. But after this thread I think I might need to read all the fine prints.

 

[Coosawjack]

I've had Grundy on 3 cars and they only ask that the car is garaged at home and ask that you drive around 2500 miles a year and the lady I spoke with last year said they never enforce it unless it's your only vehicle!!

 

[Garfy]

So I used to have Allstate and that creeped up in money.

I switched to State Farm 2 years ago and saved $700 on my bundle'd plan of 3 cars, 1 Motorcycle and Home Insurance. Now State Farm is shooting up. All 3 cars went up.

My Mustang is $1318 a year with State Farm now :(
I just got a quote from a company called American Collectors Insurance. They're in New Jersey. A friend that has a 80 Z28 uses them.

So my quote from American Collectors Agency is $555 a year. I'd be saving $763 a year. Thats a lot of money.

Just got off the phone with them and because I garage the car and take it to Car Shows, put low miles on it and I have a Daily Driver .... I qualify.



so my question is: ANYBODY FAMILIAR with American Colletors Insurance ?

Well I have State Farm (had them for over 50 years for cars) and a year ago my 2012 Honda Fit was $250 every 6 months for full coverage (high liability due to million dollar umbrella policy, $100 deductible collision, $0 deductible comp and the other stacking/non-stacking BS stuff) while my 2020 GT with the exact same coverage was $247! After moving to the mainland, my Honda went up to about $300 but my GT went over $420 for 6 months. I can only assume it's because owners of Mustangs up here total their cars more than in Hawaii (can't drive a whole lot on an island too) due to higher speed limits, etc. The only change was location, nothing else. I guess I have to put up with that because of the amount of claims they have here on this model of car. BTW, I'm curious what your liability, collision, comprehensive, etc. limits are for only $555 a year? My liability part was $250K/$500K I think.

 

[Cobra Jet]

With all due respect I had been a policy holder with American Collector for many years and what you are calling misinformation was confirmed by the underwriter. To be clear, driving is not limited to car shows but driving the car has to be in relation to a car based event. The stipulations fall under the normal use section.

Perhaps you have a different policy than the one I had. I was sharing my experience with the OP an encouraged him to have a conversation with the underwriter. If he is not bound to the same regulations I was, or that you don't appear to be, than that's great.

To the OP, the best thing you can do is read your policy cover to cover and have a conversation with the underwriter so there is no misunderstanding. As it relates to taking pictures, you will take pictures of the car per the instruction of American Collector and if they are satisfied with the stated value then an appraiser isn't needed. That wasn't the case for me based on the value of the car. The insurance company will not pay for the appraisal.

This is right from one of ACI’s linked pages that is current. In no way am I trying to disrespect, but I’ve had my policy on my 94 Cobra for 15+ years now, I’m not sure why you were restricted to driving and others insured with ACI are not.

https://americancollectors.com/about/why-choose-us/

Unless there was a limitation enforced by your Home State with regards to Collector Car registration type and/or Collector Car Insurance protocols, I am just not understanding why your driving of the vehicle was restricted.

I’ve never had any restrictions since the day the car was insured with them - and was never limited to only driving it to and from shows…. The car can be taken out and driven for any pleasure or regular drive. At the time I insured with them years ago, they were the ONLY Collector Car Company that did have very lenient driving policies and still do have THE best driving policy and benefits afforded to their Insured.

Like I had previously stated too:
Each State has different DMV laws pertaining to the the type of vehicle registration OR IF the vehicle is insured as a Collector Car. Usually the State laws IF registered as a Collector Car or having Collector Car plates is stricter than the actual Collector Car Insurance policy driving protocols.

Yes, ANY Collector Car Ins. Co. requires the following to insure the vehicle:
- Photos of the vehicle
- must be garaged at your legal address (cannot be someone else’s home, cannot be in a parking garage, cannot be stored/parked in driveway or at road)
- CANNOT be used as a daily
- extract of your DMV record (and anyone else in the household that is of legal driving age). If you have DMV violations or accidents, that could prohibit insurability.
- Depending on the agreed value requested they might ask for proof of insurability of that value. That proof could be a 3rd party appraisal, proof the vehicle is a limited edition and/or special production, or a bill of sale/Window Sticker/Dealer Invoice showing purchase price of the vehicle.

Anyone who has ANY type of Insurance Policy (auto, boat, cycle, home, or life) should always read the fine print. Also it’s not what is insured by the policy, it is more important to understand and know what is NOT covered by the Policy. So definitely read the entire policy and all fine print…

Regardless of Collector Car Ins. Co. they do not allow the vehicle to be used in any timed events or exhibition of speed events (ie: no drag racing, road racing, auto cross, etc.).

As far as the vehicle being modified, yes nearly all Collector Car Ins. Co.’s cover modified vehicles. However going back to Home State DMV and/or registration laws, in some States Collector Car or Historic Vehicle registrations the DMV will request images of the vehicle for approval of that registration type and some do not allow a modified vehicle; it has to be as built from the manufacturer (no visual modifications to the appearance of the vehicle). Some States are lax in this regard if the requirement exists, some are strict and stick to it, or some do not have any such a requirement.

Just keep in mind - these Collector Car policies are not there so people can jump from their regular policy to save $$$ and still drive the car daily. If you’re caught, or if you have a qualifying event and they investigate, you can be dropped from coverage and all repairs or a total loss would be on you.

 

[Nickel]

I was paying $114 a month for full coverage on my 16 GTPP, Suzuki Cappuccino, Miata, FZ09, and FRS. I made some changes and now have what's in my signature and switched to Progressive and am paying $154 because statefarm started scorching, raising it every month and getting well over $200. They claimed they're up charging me because of accidents in my area? I said do you arrest a whole city because a guy does a crime? Now I get a call from a rep every week leaving a voicemail begging me to come back. I may go back as long as they agree to go back to $115 a month. All of my vehicles are full coverage with a combined total of well over $100k value.

 

[Coosawjack]

It'll NEVER HAPPEN "Nickel"....it's ALL about Statewide profit........client loyalty means nothing to any Insurance Company but they're fun to mess with.....GOOD LUCK!!

 

[Nickel]

It'll NEVER HAPPEN "Nickel"....it's ALL about Statewide profit........client loyalty means nothing to any Insurance Company but they're fun to mess with.....GOOD LUCK!!

I may call them today just to see what they say and report back. Lol, but I want it in writing that the rate is not subjected to change.

 

[FlipC]

I have never heard of American Collector before. But since its not a daily driver you might try Hagerty! They have Always been the lowest I have found.

 

[Bit_the_Bullitt]

Obviously YMMV, especially by region and age and driving history.

Myself and wife with no accidents or tickets at 32yo in OH, we pay $1,433/yr as of a week ago with NJM (just got our renewal) for a '19 Bullitt, '21 F150 and '07 Miata. All full coverage and low deductibles.
The Bullitt's rate is literally the same as the truck and Miata combined.

We were with Safeco and were told "stay loyal, discounts coming." After a ludicrous renewal offer we noped out.
I pay $2,500/yr for 3 cars and homeowners all through them. They have limited states they cover, but have yet to find better.

 

[Terlingua17]

I have Hagerty INS on my '08 Bullitt $475 a yr in TX. Y'all must have a other daily driver. Full coverage with $250 deducible stated value $27,000. The car is stored inside & has only 16,000 miles on it.

 

[Bobn57]

Obviously YMMV, especially by region and age and driving history.

Myself and wife with no accidents or tickets at 32yo in OH, we pay $1,433/yr as of a week ago with NJM (just got our renewal) for a '19 Bullitt, '21 F150 and '07 Miata. All full coverage and low deductibles.
The Bullitt's rate is literally the same as the truck and Miata combined.

We were with Safeco and were told "stay loyal, discounts coming." After a ludicrous renewal offer we noped out.
I pay $2,500/yr for 3 cars and homeowners all through them. They have limited states they cover, but have yet to find better.

was

Obviously YMMV, especially by region and age and driving history.

Myself and wife with no accidents or tickets at 32yo in OH, we pay $1,433/yr as of a week ago with NJM (just got our renewal) for a '19 Bullitt, '21 F150 and '07 Miata. All full coverage and low deductibles.
The Bullitt's rate is literally the same as the truck and Miata combined.

We were with Safeco and were told "stay loyal, discounts coming." After a ludicrous renewal offer we noped out.
I pay $2,500/yr for 3 cars and homeowners all through them. They have limited states they cover, but have yet to find better.

Obviously YMMV, especially by region and age and driving history.

Myself and wife with no accidents or tickets at 32yo in OH, we pay $1,433/yr as of a week ago with NJM (just got our renewal) for a '19 Bullitt, '21 F150 and '07 Miata. All full coverage and low deductibles.
The Bullitt's rate is literally the same as the truck and Miata combined.

We were with Safeco and were told "stay loyal, discounts coming." After a ludicrous renewal offer we noped out.
I pay $2,500/yr for 3 cars and homeowners all through them. They have limited states they cover, but have yet to find better.

Wow. . I’ve been with NJM since I was 17. 67 now and full coverage on 3 vehicles (20’ Explorer XLT, 24 VW Taos, 21’ mustang GT) + partial on ‘11 Jetta is $4K. That’s for two drivers! That doesn’t include home owners and umbrella policy! All with NJM and multi policy discount included. We’re in NJ but 20 minutes from Newark so that doesn’t help on cost. Mine and wife’s driving records are clean.

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