Insurance is through the roof!

[IA350]

What does your wife think about the collector car policies?

I think a little cautious. I was concerned when we took the Boss 302 to Vegas and I had her call to make sure we were covered for the long trip, since we would likely have to park in a lot or ramp, we might go through the Arbys drive through or park at a restaurant. They assured that we would be covered, but I wonder if you wouldn't have to fight it. Since I'm in Iowa and the car will be parked 5 months out of the year I may see what a regular policy will cost me considering I would drop the collision coverage while the car is stored and not driven.

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[Steeeliskt]

I think a little cautious. I was concerned when we took the Boss 302 to Vegas and I had her call to make sure we were covered for the long trip, since we would likely have to park in a lot or ramp, we might go through the Arbys drive through or park at a restaurant. They assured that we would be covered, but I wonder if you wouldn't have to fight it. Since I'm in Iowa and the car will be parked 5 months out of the year I may see what a regular policy will cost me considering I would drop the collision coverage while the car is stored and not driven.

If you were OK with dropping the collision that would be huge seeing as the collision is probably generating a majority of the premium.

 

[holtzja]

I just changed from USAA where adding the GT350 was going to cost me about $900 a year. I changed to GEICO and the addition will be about $490 per year difference.

 

[whysoblu]

Hate to resurrect this cursed thread, but just wondering how the rates are for the GT350 owners that actually have the car now. Any surprises?


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[ForTehNguyen]

paying $401 now with Geico on the GT with $500 deduct, 300/300. For grins I got a VIN off ebay and did a quote on geico to add to my policy $520.75 for the GT350

 

[Coyotestang13]

I'm about to switch from USAA. They jacked up my rate this past renewal by over $140/month for no reason. Got a few quotes from other insurance companies for about $75+ less a month.

Same here although I'm sticking with them because I don't believe intro rates from other companies.

$900 every 6 months for a GT350 driven 4,000 miles annually seems steep. I'd definitely shop around on that. I pay $610 every 6 months on my Coyote although USAA just dropped my rates this premium.-

 

[whysoblu]

I have not called Grundys yet as I'm scared about that pleasure driving clause, but geico still my best offer on table at $337 every six on the gt350


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[Steeeliskt]

I have not called Grundys yet as I'm scared about that pleasure driving clause, but geico still my best offer on table at $337 every six on the gt350


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It's hard to get relative quotes because zip code is a huge rating factor. If they are giving you a legit $337/6 months with comp and collision and high liability limits, that is a great quote and compared to my rates I currently have, I would love to pay a plan that is even half as good as yours.

 

[Stage_3]

Your credit rating affects your insurance rates too.

Does it really? I didn't know that. I wonder why that is? I wonder how the insurance companies come up with that that one? If you have crappy credit, you're a crappy driver. Or, if you're with great credit, you're a great driver. I don't understand it.
I'm not doubting you, just don't grasp the concept behind it.

 

[CliffClavin]

Does it really? I didn't know that. I wonder why that is? I wonder how the insurance companies come up with that that one? If you have crappy credit, you're a crappy driver. Or, if you're with great credit, you're a great driver. I don't understand it.
I'm not doubting you, just don't grasp the concept behind it.

There have been a few research studies showing the parallels of credit score and risk of vehicle related insurance claims. Correlation does not equal causation of course, but I think it is another variable they use with the exception of a couple states where there are prohibitions against that practice.

 

[TDC]

$800 and change for a year, ny metro area, Liberty Mutual, 4000 miles/year, $1000 deductible

 

[Steeeliskt]

Does it really? I didn't know that. I wonder why that is? I wonder how the insurance companies come up with that that one? If you have crappy credit, you're a crappy driver. Or, if you're with great credit, you're a great driver. I don't understand it.
I'm not doubting you, just don't grasp the concept behind it.

not every state/carrier does this. I know out here in CA, most personal lines carriers don't do any credit checks, however some commercial carriers will. There is also a different "credit check" called your "insurance score" that can be run and is like a credit score based on your insurance history.

 

[Rick R]

Does it really? I didn't know that. I wonder why that is? I wonder how the insurance companies come up with that that one? If you have crappy credit, you're a crappy driver. Or, if you're with great credit, you're a great driver. I don't understand it.
I'm not doubting you, just don't grasp the concept behind it.

It actually kind of make sense. In a broad generalization, and with many exceptions, but a fiscally conservative, thrifty, prudent person who manages his finances with caution could also be more likely to drive within safe boundaries and avoid taking unnecessary risks, and hence be less of a liability, no?

 

[mrdci]

So I'm not sure how many of you have used a VIN but I did call just to check and see what mine should be. I'm just over 40 no accidents no tickets and in the speed hating / radar detecting banned state of VA. So here are the numbers. I think someone mentioned it earlier my USAA just went up about $100 every 6 months do to some reclassification in the state.

These are my cars on USAA Quote was for 6 months:

GT350 Track Pack - $973 Collision was $706 of the $973 big difference maker compared to my other cars as you can see below
Raptor - $421 Collision $129
A7 $513 Collision $237
Fiesta St $429 Collision $186 (yeah these things are throw aways if you are in any accident)

 

[Poisyn]

After shopping around for a long time, state farm was cheapest by a long shot (and that's not saying much)

I'm 25, and got a ticket back in like 2010, live in Florida

Statefarm is at 159/mo with a 500 deductible, will definitely go with them

Most expensive was liberty who wanted almost 600/mo for the cheapest option

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