Insurance Decisions

[surflvr911sc]

I really like my insurance company, been w/ them since I started driving but I know that if anything happen to my car I’d end up going straight to arbitration due to everything that has been done to it. I called about an agreed value policy and they transferred me the company that writes those policies for them. Here is my quote.

$25k replacement value
$100k liability
$1k med
$60k uninsured motorist C&C
$500 deductible
2500 miles a year- I could live w/ 5k but 2500 isn’t much
Can’t drive it to work- ever!
$411.80 per year

I have much better coverage now but I think I would be luck to get $10k replacement value. Should I just stick w/ my current policy and if something happens fight for all I can, buy the car back, and repair it or use the parts? Should I go looking for another company to insure it through? Having the car stolen would be the only way I would be completely screwed, but that’s not likely considering the way I am w/ it.

What are your thoughts/experiences.

[vash]

i am in the current position of trying to nurse my driving history health into good standing. when i bought my house, i maxed out all my coverage. just a few weeks ago, i decided to register my 911 and insure it. i got a ridiculous quote (oneway on 911). i jumped ship to 21th century and i saved about 51%, with full coverage on the pcar. blew my mind! even the insurance person on the phone told me it is best to shop around everyonce in awhile. it never cost anything to switch, and you can always get your unused premium back.

[speeder]

Ryan, Can't you get agreed-value coverage w/ regular insurance? (The kind where you drive the car anytime you want). Admittedly, I don't know much about this stuff.

[surflvr911sc]

I don't know a lot but from what I've seen here is my .02.

Insurance companies don't know squat, I know, big surprise. When it comes to claims they have outside agencies do the assessments and values, so it seems that normal companies don't want to tie themselves up on an agreed value, it's all about making money.

The companies that insure antique and specialty vehicles for agreed values make money b/c of the kind of vehicles, driving is restricted, and the probability of loss though an accident is much lower than commuter vehicles.

I know there are companies that will allow 5k on an agreed value policy but I haven’t made up my mind if that’s the way I want to go yet. I’m starting to lean towards sticking w/ my current policy and be prepared to fight if I ever need to.

[vash]

the first thing i would do, if i won the lotto, would be to self insure myself. that way, i can tell each and every insurance company to go and eff themselves. but i am crap at picking numbers, so i will continue to shop around everyonce inawhile. i think you should shop around, it couldnt hurt. and everyone is one the internet. i even got into a IM session with some hottie (i am guessing for the fun factor) on the 21th century webpage. to bad i didnt have the nerve to ask her what she was wearing.

[id10t]

I'd check into Hagartys or one of the other "old car" specialist inssurers - the 356 Registry folks seem to get reasonable coverage thru these types of agents (my 356 is thru state farm).

[MFAFF]

You have to shop around.

Over here things are a littel different but I'd never renew unless I was sure the carrier was the 'best' deal aorund'.

BTW the mileage limit is pretty common around here for cars that are 'classics' its the only way I can afford to have a P-car, other wise the insurance would be larger by something like a factor of 5.........