car insurance for our high dollar cars
03-06-2010, 11:29 PM
#1
car insurance for our high dollar cars what is everyone doing for insurance on our cars? are there some compaines out there that will let us set an agreed value to our vehicles? I would be sick if I totaled my car and my insurance company tried giving me 8k for my car. LOL
03-06-2010, 11:39 PM
#2
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you can get it appraised and insured for that amount, but its exspensive from what i hear. if you get it appraised provide the apraiser with reciepts for whatever u have invested in your car
03-06-2010, 11:44 PM
#3
I hear of some people getting agreed value policys like the classic cars and its extremly cheap. I put in some online quotes today and ill see what I get back. I figure the people in the FI section have the most invested and need to protect it somehow
03-06-2010, 11:58 PM
#4
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i have state farm insurance and i have bumper to bumper coverage..i also have a special policy for rims and paint...i pay 30 dollars a month extra for that..All i have to do is provide recipts for anything that is taken in a theft..Although there is no agreed amount for total car, my rim and paint coverage is worth $7000 and i have recipts for atleast $12,00 as of now..My advice is to look at big name insurance co in your area and work a deal, but if thats not an option look into haggerty or another classic ins co..
03-07-2010, 12:05 AM
#5
I was just talking about this last week with a friend. How sad would it be to throw 40K into a 4th gen only to have some drunk T-bone you! Happens alot. You will always lose something as thats just the nature of building cars at this level, but its nice to know there are insurance companies offering policies to recoupe a good deal of your investment.
03-07-2010, 07:38 AM
#6
Usaa here, I have all recips sent to them and full coverage insurance with them. My cost for the policy is 900 every six months. But the covers the turbo, motor all engine parts and so on. But they will only pay uup to 80% of the value of the customize parts.
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03-07-2010, 10:13 AM
#8
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Typically you use appraised or stated value on classic and rare vehicles and you use the Customized vehicle endorsement for newer cars with alterations/modifications. The stated value option is typically for vehicles that have a high value due to collectibility and are either holding their value or appreciating. With the Customized vehicle endorsement, it takes into account that you have added value to your vehicle but also recognizes that you have a vehicle that is also depreciating.
03-09-2010, 01:52 AM
#9
Just sent in for a quote the other day at grundy. After a few days they responded with "we cannot insure a collector vehicle that is newer than your primary vehicle" which is a 2000 Xtreme. Guess its not worthy enough to be a daily driver
Immediate quote for $30k that came up was $453 a year
That would be nice
Immediate quote for $30k that came up was $453 a year That would be nice
03-09-2010, 02:18 AM
#10
Honestly guys, Insurance is the biggest LEGAL scam there is. As far as finding a good deal in insurance....there really isn't one. How many types of business can you get people to just give you money for nothing. If the policy holders do happen to have a claim they either raise your freakin rates or drop you if your accident or tickets are bad enough. Cheap insurance basically comes from a few different things: marriage lol, kids, age and last but not least a CLEAN driving record. Idiots who go out and get speeding tickets all the time will always buy the farm every time. Believe it or not running stop signs/lights is just about as bad for your driving record as reckless driving! I don't mean to rant on cause when I was younger (which I'm only 31 now) I was one of those idiots too. If you think that the cars are bad, try insuring a freakin crotch rocket with those type of tickets and believe me I've had quite a variety of them (speeding, reckless driving, pulling donuts ect). On a side note I do a seasonal type of deal on mine since it sits in the garage for 8 months out of the year since the people here in wyoming don't believe in warm weather lol.
03-09-2010, 02:24 AM
#11
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Just sent in for a quote the other day at grundy. After a few days they responded with "we cannot insure a collector vehicle that is newer than your primary vehicle" which is a 2000 Xtreme. Guess its not worthy enough to be a daily driver Immediate quote for $30k that came up was $453 a year That would be nice
Immediate quote for $30k that came up was $453 a year That would be niceMy car is also a fair weather car and sees about 4-5k miles a year and is off the road from november to march/april.
03-10-2010, 11:24 PM
#13
I have State Farm but never bothered to try to get insurance for all the add ons because I have heard from various people that Insurance companys sometimes drop their customers if they find out its a "drag" vehicle. Mine has a roll bar in it...so pretty sure that would quality as a drag vehicle in their eyes.
LOL
03-11-2010, 02:22 PM
#18
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I tried the collector car insurance deal and no-one would insure my car. From what I hear extra coverage for modded cars doesn't pay out and most companies don't even want to deal with it...When I got my first f-body at 18 or so I payed around 450/month full coverage...
Oh yeah and it's not like I can say I run nitrous on the street...will you insure me?
Oh yeah and it's not like I can say I run nitrous on the street...will you insure me?
Last edited by Lythropus; 03-11-2010 at 02:24 PM. Reason: nitrous
