What type of Auto Insurance do you carry?
05-29-2013, 10:54 AM
#1
What type of Auto Insurance do you carry? I am about to pay off my 01 WS6 w/60k on the odometer.
Of course I have to pay full coverage while doing so.
After I pay off the loan, I am thinking of dropping down to liability to help save money along with the car payment.
My question is, who here keeps full coverage on their rides, and who keeps liability?
Just wanting to know what the general consensus is around here.
Thanks!!
Of course I have to pay full coverage while doing so.
After I pay off the loan, I am thinking of dropping down to liability to help save money along with the car payment.
My question is, who here keeps full coverage on their rides, and who keeps liability?
Just wanting to know what the general consensus is around here.
Thanks!!
05-29-2013, 11:09 AM
#2
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I have collector coverage (Grundy) on my '98 and '71, as they are garage queens.
For the '02 I have regular full coverage (State Farm) as it's my daily driver. If I dropped it down to only liability, that would save me about $300 per year. So far I have kept it at full coverage though.
For the '02 I have regular full coverage (State Farm) as it's my daily driver. If I dropped it down to only liability, that would save me about $300 per year. So far I have kept it at full coverage though.
05-29-2013, 11:45 AM
#4
I just switched to GEICO for all vehicles in our household. I had Erie -- which was great and all -- but I saved $600 for identical coverage with the switch. I still have our house and personal stuff through Erie, but I digress...
I have full coverage on the Camaro with $500 deductibles. While I may only put 3000 miles on the car each year, it's still more affordable than when I priced Grundy and Hagerty. However, it's nice that I'd be able to name the replacement value with the collector car insurers, but I just couldn't justify the extra $200/year premium that would have entailed.
In my opinion, it's worth keeping liability and comprehensive because you'll miss it when [if] you need it.
I have full coverage on the Camaro with $500 deductibles. While I may only put 3000 miles on the car each year, it's still more affordable than when I priced Grundy and Hagerty. However, it's nice that I'd be able to name the replacement value with the collector car insurers, but I just couldn't justify the extra $200/year premium that would have entailed.
In my opinion, it's worth keeping liability and comprehensive because you'll miss it when [if] you need it.
05-29-2013, 12:30 PM
#5
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I have full coverage on the Camaro with $500 deductibles. While I may only put 3000 miles on the car each year, it's still more affordable than when I priced Grundy and Hagerty. However, it's nice that I'd be able to name the replacement value with the collector car insurers, but I just couldn't justify the extra $200/year premium that would have entailed.
05-29-2013, 02:51 PM
#6
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I have full coverage from Allstate on my 1999 and 2002, but the 2002 is only driven three months a year and the TA is only driven 6 months. When the car show season is over they are parked in the garage with the coverage suspended to save money. I believe full coverage for me (31, no points) would be $350/6 months for the Formula and slightly less for the TA.
I would keep full coverage, but maybe shop around to see who has a better price or maybe change your deductible.
I would keep full coverage, but maybe shop around to see who has a better price or maybe change your deductible.
05-29-2013, 02:55 PM
#7
Full coverage through Farm Bureau on my 02 WS6 that's been 100% paid off. I looked into the collector car insurance through Grundy and others, but they are so strict on how you can use the car and what they will cover if you do get into an accident. Basically, they only cover damages if you get into an accident while on the way to a car show.
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05-29-2013, 03:31 PM
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I looked into the collector car insurance through Grundy and others, but they are so strict on how you can use the car and what they will cover if you do get into an accident. Basically, they only cover damages if you get into an accident while on the way to a car show.
They want to be sure that you aren't using the car for primary/daily drving or supplemental transportation, and that's it's stored in a garage when not in use. The reason this type of coverage is so affordable (even at high agreed values) is because they expect that the car will receive exceptional care and limited overall use, and the restrictions/exclusions that are in place are to ensure such.
Having said that, I am policy holder with Grundy. The general points stated on their website does not include all the details that an actual policy would state. Things like limited pleasure use are allowed, as is clearly stated in the actual policy. As such, taking the car out for an occasional nice weather cruise is allowed and covered (in addition to usage for purposes of maintenance or repair, and of course any sort of hobby related event/activity - with no mileage restrictions), but if you are driving the car regularly then collector coverage simply isn't right for you.
05-29-2013, 03:45 PM
#10
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05-29-2013, 10:25 PM
#14
Ha.
I pay $230.00 a month for liability on a 95 Trans-Am, liability on a 97 Dodge Caravan, full coverage on a 03 Honda Odyssey, and of course full coverage on my 01 Trans-Am.
Progressive.
This includes roadside for the family van, Odyssey, and my 01 T/A.
I pay $230.00 a month for liability on a 95 Trans-Am, liability on a 97 Dodge Caravan, full coverage on a 03 Honda Odyssey, and of course full coverage on my 01 Trans-Am.
Progressive.
This includes roadside for the family van, Odyssey, and my 01 T/A.
05-30-2013, 10:13 AM
#15
That last sentence is not entirely accurate.
They want to be sure that you aren't using the car for primary/daily drving or supplemental transportation, and that's it's stored in a garage when not in use. The reason this type of coverage is so affordable (even at high agreed values) is because they expect that the car will receive exceptional care and limited overall use, and the restrictions/exclusions that are in place are to ensure such.
Having said that, I am policy holder with Grundy. The general points stated on their website does not include all the details that an actual policy would state. Things like limited pleasure use are allowed, as is clearly stated in the actual policy. As such, taking the car out for an occasional nice weather cruise is allowed and covered (in addition to usage for purposes of maintenance or repair, and of course any sort of hobby related event/activity - with no mileage restrictions), but if you are driving the car regularly then collector coverage simply isn't right for you.
They want to be sure that you aren't using the car for primary/daily drving or supplemental transportation, and that's it's stored in a garage when not in use. The reason this type of coverage is so affordable (even at high agreed values) is because they expect that the car will receive exceptional care and limited overall use, and the restrictions/exclusions that are in place are to ensure such.
Having said that, I am policy holder with Grundy. The general points stated on their website does not include all the details that an actual policy would state. Things like limited pleasure use are allowed, as is clearly stated in the actual policy. As such, taking the car out for an occasional nice weather cruise is allowed and covered (in addition to usage for purposes of maintenance or repair, and of course any sort of hobby related event/activity - with no mileage restrictions), but if you are driving the car regularly then collector coverage simply isn't right for you.
