The Insurance thread. Whatcha got? Input needed.

[300ZXttZMAN]

Ok so since my Z is about to be put back on the road I need to insure it because I dropped insurance as part of my budget plan plus she was only on a liability plan which is not going to work now.

I am thinking about Grundy or Hagerty because I need a classic car insurance on my Z. I need to have an agreed value plan.

So Nico club what vehicles do you have an what is the insurance plan they are on?

Lets follow this format so its easy to read and if anyone wants to add a catagory or something let me know and I'll add it. If your a mod/admin just edit the post:

Vehicle(s):
Are the Vehicles bundled with house or other things if so please list:
Carrier:
Policy on the vehicle or each vehicle if the policy differs per vehicle:
City, State:
Conditions/Limitations:
Monthly statement (optional):
Any additonal notes you would like to share:

[300ZXttZMAN]

Just quote this post and fill in the blanks.

Vehicle(s):
Are the Vehicles bundled with house or other things if so please list:
Carrier:
Policy on the vehicle or each vehicle if the policy differs per vehicle:
City, State:
Conditions/Limitations:
Monthly statement (optional):
Any additonal notes you would like to share:

[Kompresshun]

Vehicle(s):2006 Jeep Commander 4x4 and 2000 Infiniti I30
Are the Vehicles bundled with house or other things if so please list: No.
Carrier: USAA
Policy on the vehicle or each vehicle if the policy differs per vehicle: The only difference is I don't have rental reimbursement on my I30
City, State: Nicholasville, KY
Conditions/Limitations: No additional person injury protection - Basically if someone gets injured, my policy won't pay any extra over what's necessary.
Monthly statement (optional): $933.42(Bi-annual), $155.57 per month
Any additonal notes you would like to share: USAA is only available to members/family member of the military usually, so keep that in mind. We are members because of my father in law and we handle about everything through them aside from our car loan and home loan.

[300ZXttZMAN]

Vehicle(s): 2000 GMC Sierra Z71
Are the Vehicles bundled with house or other things if so please list: Nothing else just my truck.
Carrier: State farm
Policy on the vehicle or each vehicle if the policy differs per vehicle: Liability on my truck.
City, State: Sulphur, Louisiana
Conditions/Limitations: No limitations
Monthly statement (optional): $94 per month
Any additonal notes you would like to share: I have a clean driving record. I will be keeping my truck on this insurance plan with State Farm since I don't pay much at all. The Z needs full coverage. But who should I go with? Hagerty, Grundy or someone else??

[frapjap]

Vehicle(s): '88 Trans Am
Are the Vehicles bundled with house or other things if so please list: 3 vehicles- Miata, T/A, Corolla + renters
Carrier: Allstate
Policy on the vehicle or each vehicle if the policy differs per vehicle: Full coverage (and then some) and collision on T/A and the Miata. Full coverage (and then some) on the Corolla, but no collision.
City, State: Westport, MA
Conditions/Limitations: 1/2 time use; 7,500 mi/yr on two vehicles. This is on the Miata and T/A.
Monthly statement (optional): $110- before you think this is high, I am heavily covered for myself, passangers, and other parties involved in the event of an unfortunate circumstance.
Any additonal notes you would like to share: I would get classic insurance/antique plates for the T/A, but in MA if you use this option, you have limited mileage (2,500-3,000 I think) and are only covered by your insurance (in regards to accidents) for weekends, holidays, and to/from events and car shows. I like the appeal of stupid cheap insurance, but DO NOT like my driving pleasures limited so much. I WILL take my car to work, for drives up to the mountains in the summer, or out on a nice day in winter.

As a result, I stay with Allstate. Also, the T/A is appraised by a reputable, insurance approved third party. I recommend you do this for your Z so your insurance or another party's insurance does not try to devlaue your Z as a 20 year old hunk of junk. You'll save yourself a lot of headaches in the event of an accident.


Another criteria that you might want to add is "Driving Record" and "age." I'm rated as an 'excellent driver' per insruance. No tickets, accidents (that were my fault), or moving violations in the past 5 years. I'm twenty six.

[NolimitZ32]

Vehicle(s): 1995 4Runner (Z is off insurance while not on road)
Are the Vehicles bundled with house or other things if so please list: No
Carrier: Progressive (been with them for over 5 years)
Policy on the vehicle or each vehicle if the policy differs per vehicle: N/A
City, State: Houston, TX
Conditions/Limitations: Liability + Uninsured motorist on the 4Runner, had Full Coverage on the Z as a weekend/pleasure vehicle with stated value of $10k (yes progressive does this)
Monthly statement (optional): Now - $39.00/month or $226.00/6 months (paid in full discount), When Z was on insurance & was full coverage as pleasure car - $82.00/month (never paid it in full)
Any additional notes you would like to share: If I were you I would seriously check out progressive, they have been nothing but great to me and have covered me no questions when my car got hit in front of my house and the driver took off, when I flipped my WRX and when I've had minor issues like glass damage.

[Bubba1]

Collector car insurance companies like Hagerty or Grundy can save you some real money, but you need to make sure you read the fine print, as there could be mileage/type of usage restrictions. Most times, their premiums are based on an upfront agreed upon value of the car.

[300ZXttZMAN]

@ Frapjap
Perfect thats the exact info I needed.

I want your exact plan for my Z. Forget I said anything about classic car insurance I didn't know it was that limited.

7500 miles is plenty.
I want to be able to drive my Z any time I want just like you, frapjap. If I want to drive it I want to be able to drive and be covered. Doesn't matter if I want drive my Z all week. Cause sometimes I might.

I am pretty sure I will be going with Allstate I am going to call them monday and see what they can do for me.

[300ZXttZMAN]

@Nolimit looks like I am going to see what progressive will do for me also!!

It looks like they discount greatly if they know its not your daily driver.

Can't wait to see what everyone elses plans look like this is getting good there is alot of good choices.

I can't decide which plan I would rather have between Frapjap and NolimitZ32. Anton was there a milage limit?

[DJ_B_Easy]

Vehicle(s): 2008 Altima Coupe 3.5
Are the Vehicles bundled with house or other things if so please list: No.
Carrier: Progressive
Policy on the vehicle or each vehicle if the policy differs per vehicle: FULL coverage (see additional notes)
City, State: Rockaway, NJ
Conditions/Limitations: Nope.
Monthly statement (optional): $130.00/month
Any additonal notes you would like to share: Been with them since late 2007. Policy was purchased while the car was leased, my leaser required FULL coverage. Im talking everything. When I purchased out, I kept the same coverage. Ive had one pretty bad accident and 1 major ticket, both within 7 months of purchasing the policy. That did bump up my rate for a few years. When I came on, it was around $125.00/month, it just started coming down last year. At its highest, it was $185.00/month. Also note that this is my FIRST insurance policy without coverage under my parents name, I had always been on their policy previous to Progressive. They were amazing throughout my accident and repair (I drove a Saab 93 turbo for 5 weeks free of charge) and have been nothing but awesome since.

+1 On Progressive.

EDIT: "Leaser"? What the hell? Why cant I think of the word, Im the leasee, they are the...

[frapjap]

@ Frapjap
Perfect thats the exact info I needed.

I want your exact plan for my Z. Forget I said anything about classic car insurance I didn't know it was that limited.

7500 miles is plenty.
I want to be able to drive my Z any time I want just like you, frapjap. If I want to drive it I want to be able to drive and be covered. Doesn't matter if I want drive my Z all week. Cause sometimes I might.

I am pretty sure I will be going with Allstate I am going to call them monday and see what they can do for me.

You're right, 7,500 is plenty. I never keep track of my mileage because its highly unlikely that I'll go over with either car.

Another positive I have for Allstate, State Farm, etc as opposed to Progressive or Geico is that there is a local office that I can (and do!) visit quarterly just to say hello and keep a rapport with. I'm lucky to have a great agent with an excellent staff. They're more than just voices on the phone; they've become loose friends who know me well and put up with my calls to add back the insurance coverage for a day or two during the winter. (I lower my coverage since the cars aren't on the road). You can't beat that service. Visit some of the local offices vs. using the internet and calling to see if you 'click' with some of the folks whether they be your age, or are enthusiastic about their cars and business. $100/yr for a better experience is worth paying for, IMO.

Allstate also has discounts for all sorts of things- college grad, no accidents/tickets/etc, and if you like paying month-by-month, they give you a decent discount for automatic payment via your bank account. I like doing this just because of simplicity. Its just a coincidence that there is a discount for it.

Also note that with an older, rare car, parts are expensive and so is the right labor to repair it. With a good relationship you'll be afforded more wiggle room to get exactly what you want. They've actually SEEN your car and will side with you and be influential against the corporate folks who will handle your claim.

[Heavy]

Vehicle(s): 2005 Lexus IS300, 1996 Lexus LS400
Are the Vehicles bundled with house or other things if so please list: 2 cars are on the same policy
Carrier: Allstate
Policy on the vehicle or each vehicle if the policy differs per vehicle: Full coverage and collison on the IS300. liability and fire, theft, glass on the LS400
City, State: Danbury, CT
Conditions/Limitations: None
Monthly statement (optional):$183
Any additonal notes you would like to share: Ive been with allstate since 05, havent had one single problem with them in that time and like ray said its nice to have a local office. Their discounts are pretty good, i save $30/mo by just having them automatically take the payment from my bank account

[frapjap]

EDIT: "Leaser"? What the hell? Why cant I think of the word, Im the leasee, they are the...

Lein holder.

[Bubba1]

EDIT: "Leaser"? What the hell? Why cant I think of the word, Im the leasee, they are the...

Lein holder.

^ Yes if its being financed
lessor if it's being leased.

[BigTDogg (MA)]

Mark, I'm sorry to say you don't qualify for collector car insurance, based solely on your age. Unfortunately you need to be over 25 to get that type of policy.

I have Grundy on my Z32, and a good driving record, and here's my policy:

Costs about $465 a year, full coverage, no mileage limitations, agreed value of $32k. Same 100k/300k liability coverage as a regular policy.

Only stipulations are as follows:

-I have a DD
-The Z is garaged
-I won't drive the Z to work or to the supermarket etc (errands)
-I'm not under 25 nor will I let any one under 25 operate it
-No timed racing events.

That's it. I could drive cross country and back 100 times a year and still be covered.

I was paying around $2k a year for USAA and book value.

[300ZXttZMAN]

You're right, 7,500 is plenty. I never keep track of my mileage because its highly unlikely that I'll go over with either car.

Another positive I have for Allstate, State Farm, etc as opposed to Progressive or Geico is that there is a local office that I can (and do!) visit quarterly just to say hello and keep a rapport with. I'm lucky to have a great agent with an excellent staff. They're more than just voices on the phone; they've become loose friends who know me well and put up with my calls to add back the insurance coverage for a day or two during the winter. (I lower my coverage since the cars aren't on the road). You can't beat that service. Visit some of the local offices vs. using the internet and calling to see if you 'click' with some of the folks whether they be your age, or are enthusiastic about their cars and business. $100/yr for a better experience is worth paying for, IMO.

Allstate also has discounts for all sorts of things- college grad, no accidents/tickets/etc, and if you like paying month-by-month, they give you a decent discount for automatic payment via your bank account. I like doing this just because of simplicity. Its just a coincidence that there is a discount for it.

Also note that with an older, rare car, parts are expensive and so is the right labor to repair it. With a good relationship you'll be afforded more wiggle room to get exactly what you want. They've actually SEEN your car and will side with you and be influential against the corporate folks who will handle your claim.

Very true I def like the idea that we have a local allstate office plus my family already deals with them. When I get my car put together I will go talk to them.

I will have them take it directly out of my account thats the way I have it setup with my loan and it is sweet...
Plus Allstate gives a discount for it, thats a cherry on top.

[300ZXttZMAN]

Mark, I'm sorry to say you don't qualify for collector car insurance, based solely on your age. Unfortunately you need to be over 25 to get that type of policy.

I have Grundy on my Z32, and a good driving record, and here's my policy:

Costs about $465 a year, full coverage, no mileage limitations, agreed value of $32k. Same 100k/300k liability coverage as a regular policy.

Only stipulations are as follows:

-I have a DD
-The Z is garaged
-I won't drive the Z to work or to the supermarket etc (errands)
-I'm not under 25 nor will I let any one under 25 operate it
-No timed racing events.

That's it. I could drive cross country and back 100 times a year and still be covered.

I was paying around $2k a year for USAA and book value.

I'll be 20yo on feb 25th I also will be doing timed racing events... So I won't qualify for a while but I am not worried about it I am looking at Allstate I really like the way it looks so far.

Ok so lets totally scratch that I said anything about collector car/classic car insurance.

So now the big question: Does Allstate have a stated value feature?

[BigTDogg (MA)]

I'd call them and ask, and see if they have an agreed value policy. Most don't have stated value (one sided) but rather agreed, where your car is appraised by a professional appraiser and the two of you agree on a value.

[300ZXttZMAN]

Ok i'll call them monday and find out i'll let yall know what they say.

[NolimitZ32]

I was really surprised that progressive did it for me and it may be only below a certain value because what I originally tried to do was to insure it (as a NA) for book value (~4k) with something like 8k in mods and they wouldn't let me do that stating that the value of the mods couldn't be more than the value of the vehicle and offered me a stated value.

[nick1809]

Vehicle(s): 300zx
Are the Vehicles bundled with house or other things if so please list: yes. with a ford 500
Carrier: Allstate
Policy on the vehicle or each vehicle if the policy differs per vehicle: liability and comp.
City, State: Endwell, NY
Conditions/Limitations:
Monthly statement (optional):
Any additonal notes you would like to share: ends up being about $500 every 6 months since im on my grandmas policy as a registered driver and my z is in her name till i turn 25. this spring it should be getting re classified as a classic or something to lower the rate.

[frapjap]

I'd call them and ask, and see if they have an agreed value policy. Most don't have stated value (one sided) but rather agreed, where your car is appraised by a professional appraiser and the two of you agree on a value.

I was really surprised that progressive did it for me and it may be only below a certain value because what I originally tried to do was to insure it (as a NA) for book value (~4k) with something like 8k in mods and they wouldn't let me do that stating that the value of the mods couldn't be more than the value of the vehicle and offered me a stated value.

Also correct.

Allstate has stated value but typically stated value is not a guarantee to the vehicles worth. Hence why an insurance approved appraisal is the best way to do have a proper valuation.

[300ZXttZMAN]

They should supply the appraisal guy right??

[300ZXttZMAN]

I was really surprised that progressive did it for me and it may be only below a certain value because what I originally tried to do was to insure it (as a NA) for book value (~4k) with something like 8k in mods and they wouldn't let me do that stating that the value of the mods couldn't be more than the value of the vehicle and offered me a stated value.

Ahh so thats how they came up with the value... I am unsure if I want to go with Progressive or Allstate because we have both offices here. I'll get quotes from both when the time comes then post the quotes. So we can compare the ups and downs of each.

[NolimitZ32]

No one ever saw the car I did it all online. And as for them providing the appraiser I think there may be some kind of conflict of interest.

[frapjap]

They should supply the appraisal guy right??

Nope. They'll tell you who they will honor an appraisal from and you'll have to go get it. Cost is $100-250.

[Z31toZ32]

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.

[Z31toZ32]

Vehicle(s): 1998 Maxima
Are the Vehicles bundled with house or other things if so please list: Rental insurance, Personal Article Policies
Carrier: State Farm
Policy on the vehicle or each vehicle if the policy differs per vehicle: Liability Only
City, State: Houston, TX
Conditions/Limitations: None
Monthly statement (optional): $45 / month
Any additonal notes you would like to share: 100/300/100 with 100/300 under-insured medical and 25k under-insured property. excellent credit, no points.

[frapjap]

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.

[Z31toZ32]

Vehicle(s): 1990 300ZX
Are the Vehicles bundled with house or other things if so please list: No
Carrier: Grundy
Policy on the vehicle or each vehicle if the policy differs per vehicle: Full Coverage
City, State: Houston, TX
Conditions/Limitations: Pleasure only
Monthly statement (optional): $23 / month
Any additional notes you would like to share: $17,000 agreed value. $0 deductible, 100/300/100 with 100/300 under-insured medical and 25k under-insured property. excellent credit, no points.