State Farm Coverage

[Miguel Antonett]

I asked my insurance agent today - State Farm for the last 30 years, in case of a total lost of the 930, how much would I get as replacement?

The answer was $60K.

I couldn't believe it, I thought it was covered for the "actual value". After a long conversation he basically told me that If I could get a better coverage without being a "special policy" like collector or show car where you can't really use the car... to let him know. I asked him if he was aware of the increase value on those cars lately... I also asked him to look at Hagerty's values, which he did, and he came back telling me that he was very sorry but State Farm could not match those replacement numbers under any regular policy they have. News to me...

I'm shopping now... need advise.

BTW, the other cars coverage are OK, including the 356... that's the reason I'm posting here, it appears State Farm doesn't recognize the 930 values.

[kenikh]

Search State Farm on this site. You'd be lucky to get that. Buy an agreed value policy from a specialist. For all cars.

[vmb]

I have an "Agreed Value" policy from State Farm. Or at least I think I do. I told them how much the car is worth, they verified it with pictures and an inspection. That's how I started when it was only worth $25k, and when I bumped it up to $60k they did the same process and raised my premium.

But they pissed me off re: a homeowner's claim I had last year from hurricane damage and I'm ready to jump ship.

[93097004xx]

Leland West. I am insured agreed value of $100,000. I am limited to 3000 miles a year my premium is $578.

[MikeD930]

Yeah...you need to obtain agreed value. You may consider Grundy which is what I'm using.

[Miguel Antonett]

I appreciate the leads...

BTW, I thought I had the agreed value deal also; but when I quizzed the guy, he could not hide it anymore... their "agreed value" is not the same as others i.e. Hagerty...

I've seen Leland's add on Pano for years, will check tomorrow. Thanks!

[Ronnie's.930]

Originally Posted by 93097004xx

Leland West. I am insured agreed value of $100,000. I am limited to 3000 miles a year my premium is $578.

Does Leland offer coverage beyond 3K miles a year (not nearly enough for me) for additional cost, buttofcourse?

I currently have American Collectors with 7K/year mileage, but am under-insured (haven't paid the much higher than $578 for more realistic coverage yet), but want to look at other options . . .

[krasuskyp]

Grundy dude, Grundy - no limitations, pay for whatever value you desire

$65k here (need to up it, again), something like $429/yr

I had a nominal front bumper claim years ago when I first got it and first got their policy - they didn't blink an eye and paid and was quick / painless

[patina]

Run, don't walk, RUN away from StateFarm as fast and as far as you can.

[jsveb]

Originally Posted by patina

Run, don't walk, RUN away from StateFarm as fast and as far as you can.

What he said.

Been there done that. Never again...

[Miguel Antonett]

Hey Paul, you better go up... that's what happened to me. Apparently you have the same package/coverage I have, but in my case I thought I had a "replacement" policy; well, well, well - wrong! I don't believe $65K will replace either one of our cars.... State Farm will not go any higher than that.

[WERK I]

Originally Posted by krasuskyp

Grundy dude, Grundy - no limitations, pay for whatever value you desire

$65k here (need to up it, again), something like $429/yr

I had a nominal front bumper claim years ago when I first got it and first got their policy - they didn't blink an eye and paid and was quick / painless

Hi Paul,
Us pale-faces being in the Nothern climates; does that rate take into account the cars are stored 6 months out the year?

[jwasbury]

I have State Farm on my daily drivers. No complaints. My wife had an unfortunate parking lot scrape which damaged the door of my 2014 GMC pick up. State Farm claim process was buttery smooth.

Hagerty covers the 930 as well as the race car (not for on track, but for theft, fire, and any damage in the pits or during trailering). Regarding the mileage and garaging requirements, they stress those details on the website and during the application process but when I looked over the actual insurance contract it said nothing about it (IIRC). When I first started with Hagerty I quizzed them a bunch on the garaging requirements because I sometimes parked the 930 in a public indoor parking facility near my house (which I pay monthly to rent a space in). Their underwriting requirements state that the vehicle needs to be kept in a secure private garage. They asked me a lot of questions about how often I might park the car in the public garage and for how long. Then when they issued the policy, I saw nothing in the contract language regarding garaging conditions.

[krasuskyp]

Dave... literally zero restrictions beyond that it can't be used for werk (which I was when I had my claim fwiw!)... and you must prove you have a daily driver with a picture.

[WERK I]

Originally Posted by krasuskyp

Dave... literally zero restrictions beyond that it can't be used for werk (which I was when I had my claim fwiw!)... and you must prove you have a daily driver with a picture.

Thanks. I'll keep the your claim a secret.