The Insurance thread. Whatcha got? Input needed.

[Z31toZ32]

source - i talked to my state farm agent at the time (who is an auto enthusiast) a few years ago at a bar over a few beers.

You have stated all of the wrong type of details. My insurance agent's recently divorced niece has yet to come out for drinks with me.

thanks for the shout out. what details? i have previously researched this topic to the end of the internet when i bought my car and have confirmed it with someone that is into cars and insurance, and is an agent for a living in a non - BS setting. what are you disputing - a stated value is for writing the policy, and if something happens, they will still underwrite the car and pay the less of the stated value or the actual cash value of the car, you will get screwed in court if you go because the people are smarter than you (at least regarding google JD skills vs a corporate team of experienced lawyers), or a "certified" appraisal by joe blow doesn't do s*** on a stated value policy, assuming your claimed stated value is more than it is underwritten for.

[frapjap]

thanks for the shout out. what details? i have previously researched this topic to the end of the internet when i bought my car and have confirmed it with someone that is into cars and insurance, and is an agent for a living in a non - BS setting. what are you disputing - a stated value is for writing the policy, and if something happens, they will still underwrite the car and pay the less of the stated value or the actual cash value of the car, you will get screwed in court if you go because the people are smarter than you, or a "certified" appraisal by joe blow doesn't do s*** on a stated value policy, assuming your claimed stated value is more than it is underwritten for.

None of the above. You left out if she was a blonde, brunette, fat, thin, short, tall, green or blue or brown eyes, or possibly owned a sweet car, too.

[Z31toZ32]

ha, well that is a separate battle

[300ZXttZMAN]

mark you might want to try to write a custom policy with someone like lloyds of london. they will insure anything. you could write it to an agreed value policy and dd the car with confidence or whatever the policy is written for. if that won't work, i would recommend trying another option, like titling the car in your mom or dad's name, and then opening a grundy policy in their name, and then you drive the car.

a stated value policy is completely different than an agreed value policy. stated value helps them write the policy, but if something was to happen to the car, they will write you a check for what they think the car is worth, not what you think the car is worth (the stated value). the two values will most likely differ substantially, and in your case with a z32 with 20k of parts it, i would guarantee it. to give you an idea on what type of differences we are talking here, try 20-50% of your "stated" value policy. even if you have an appraisal, that does not mean much if anything with a stated value policy. if you do take it to court, you will be going up against people have done this 100 times before and fight people like you on a routine basis in court. they know exactly what they are doing and you won't gain much ground. additionally, they are on legal payroll at corporate and couldn't care less if it dragged out. you on the other hand will run out of money and time fast unless you have some legal connections.

bottom line is the stated value vs. agreed value completely different. if you are going to dump serious cash into the car, you need to insure it with some sort of agreed value policy. otherwise you are running the risk of losing most of what you put in the car every time you drive.

source - i talked to my state farm agent at the time (who is an auto enthusiast) a few years ago at a bar over a few beers.

Brent you read my mind I was about to ask whats the difference between agreed and stated value. (I wanted to read it in someone's own words not googles. )

I'll let yall know how it goes monday after I call.

[Z31toZ32]

ya np. im not an insurance pro, but i did my homework when i looked into it when i was first starting. it would be decent if you car's actual cash value was high (say 10k) , but you only wanted to insure it for 5k, you could pay less on a stated value policy. then in a wreck the insurance will pay the lower of the two, actual cash or stated value. if you flip the two and insure a stated value for 10k and the actual cash value is 5, you will pay on the 10, but only get the less of the two in a wreck. let us know how the call goes.

[300ZXttZMAN]

^

[carloslebaron]

I called my insurance company to add a car, and the premium was raised to 8,000 a year. I almost fainted, but stayed cool and told the insurance agent to go ahead and send me the correspondent paper work.

I told him not to get offended by any means, but I might try to call other companies to check their estimates, I explained him that I'm very happy with this company and that no calls from me in a near future means that I will stay with them for one more year.

I have been with this company for about 4 years already, and the name of this company is Liberty Mutual.

I went online and it was a site that provides the estimate charges from some main companies, so I filled up the forms, that will use the same coverage to be presented to the different insurance companies, and I click the "estimate" button.

This is the result that came out:

ALLSTATE: $24,421
ERIE: 11,423
FARMERS: 15,351
LIBERTY MUTUAL: 8,568
NATIONWIDE: 10,891
STATE FARM: 10,251
TRAVELERS: 12,452

Companies like Geico and Progressive weren't in the list.

I think that Liberty Mutual still is the cheapest one, and provides the same coverage than the other companies. I will stay with this company for many more years as is still being the most affordable one.

[300ZXttZMAN]

^ Keep in mind I am not looking for the cheapest quote I am looking for the one that best covers me and my pride and joy. (pride and joy = MY Z) How ever all those amounts ^^ are to much for 1 car that I don't daily drive I refuse to pay that much per year. I am guessing you were getting quotes for alot of different things.

The thing that I am worried about is that when they realize that I am 19 years old (ill be 20 feb 25th)...

But I am thinking that when I show them my credit score they will realize that I am not your average 20 year old.

[carloslebaron]

I have sent to the different companies the same information and same coverage at once, the site sends it to the different companies online, and I receive their quotes in one page.

Today I check my email and found out that Progressive and Geico have sent me a "reminder" of the quote. No quote was given by Progressive but to call or continue online to receive their quote. So far, every time I tried to continue online the new page took so long to open that I just quit trying. (When a new page takes more than 15 seconds to load, to me such is a bad sign and stop trying).

Geico...ahhhh Geico, I remember now why I didn't try Geico for so many years: they just don't want to cover my 95 Nissan truck!!! Most of the companies in their online quotes accept to cover my old truck but Geico.

No well, I do have the maximum cover, the 100,000/500,000/250,000 liability, etc etc, so regardless of what the company's agent might tell you, what you ask to cover you in case of an accident is a standard cover offered in several levels, like minimum, average, better, best, maximum, and or similar. So, the insurance companies have the same coverage with the different levels, and you just play with which want you want...

For a car like yours a 19 years old mostly pay over four, five or more thousand dollars as a second driver, and as a primary driver there is an extra of three, four, or more thousand dollars.

Again, with the same coverage (offered equally by all the companies mentioned in my former posting) Liberty Mutual is the one that is more affordable, like to say, that the same Brand of an electric guitar, with the same quality, the same warranty, the same good sound, etc is sold at $900.00 in one store, at $750.00 in a second store, and at $550.00 in a third store, and you just decide how much you want to pay for it...

[300ZXttZMAN]

I feel that my coverage should cost less than $2,000 per year.

[daxnizmo]

I have US Agencies. They recently changed their under writing and now my Z, which is a 1990, can have FULL COVERAGE. First time in the 7 years I've owned it that I've had full coverage. For the Z and the wife's '06 Pathfinder, $750 comp/coll and rental, we pay $156/month. I'm stoked!

[Z31toZ32]

I called my insurance company to add a car, and the premium was raised to 8,000 a year. I almost fainted, but stayed cool and told the insurance agent to go ahead and send me the correspondent paper work.

I told him not to get offended by any means, but I might try to call other companies to check their estimates, I explained him that I'm very happy with this company and that no calls from me in a near future means that I will stay with them for one more year.

I have been with this company for about 4 years already, and the name of this company is Liberty Mutual.

I went online and it was a site that provides the estimate charges from some main companies, so I filled up the forms, that will use the same coverage to be presented to the different insurance companies, and I click the "estimate" button.

This is the result that came out:

ALLSTATE: $24,421
ERIE: 11,423
FARMERS: 15,351
LIBERTY MUTUAL: 8,568
NATIONWIDE: 10,891
STATE FARM: 10,251
TRAVELERS: 12,452

Companies like Geico and Progressive weren't in the list.

I think that Liberty Mutual still is the cheapest one, and provides the same coverage than the other companies. I will stay with this company for many more years as is still being the most affordable one.

this is for car insurance? $8500 a year? $10,000 a year? you have to be kidding me. I would ride a bike.

[carloslebaron]

I do ride a bike too, but it has a motor and insurance is "imposed on it as well"

The $8,000 insurance premium is not for one car only, plus, the premiums are set by the value of the vehicle(s), the selected coverage, the driving records, the age/experience of the driver, etc, etc...apparently, in my case the driving records hate me...

[300ZXttZMAN]

+1 on that ^^ being 2 expensive.

Hopefully they give you atleast a reach around at that price.