Insurance - How much is too much?

[SeaDweller]

I just insured my '85 Targa, and State Farm wants nearly $1K/year to insure it with full coverage. I haven't paid $1K/year for auto insurance since I was a 17 year old driving a 1972 LT-1 Corvette Stingray!!!!!!!!!

I've been with State Farm for 24 years, and have had the same agent for 20. Of course the agent "doesn't dictate the rates," but the rate sounds ridiculously high to me, given that the cost of repair index is similar to a Honda Accord!! I'll likely put no more than 1,500 miles per year on this car, which makes the rate seem even that much worse.

What are you guys paying for insurance (similar car), and who are you using? State Farm has been really good about claims, so I wouldn't shoot them to save $50, but folks keep telling me I'm paying twice what I should be. Of course, I'll lose my "multi-car discount," but I'm sure the insurance won't go up $500/year on the Honda if I can save $500/year elsewhere.

Sheesh, no wonder why insurance companies are posting healthy profits.

[einreb]

if you are not driving the car to work, you can likely cut it down to $300-400 with Leland (?) or Hagarty (?) not sure about the names... do a search. im sure a bunch of folks will chime in

[Neilk]

I looked into Leland myself, but they were too restrictive. I couldn't drive it to work or the restaurant, basically only to and from car shows or parades. I drive my 911 less than 2k per year, but I don't want to be restricted from driving it where I want, besides a track.

[s_wilwerding]

I know that State Farm charges significantly less if your car is a second driver and you agree to a mileage restriction. My 911SC, as a second, pleasure car, with less than 7500 miles a year (like I'm ever going to drive it that much) is about $600 a year. It's even less if you agree to a 2500 mile restriction.

[Sonic dB]

I dont know what this means...but Im 33 with a perfect driving record. The best rate that I got on my newly pre-owned 86 Cab was something like $1100 Yr. from Kemper.

That was by far the lowest quote out there, as my previous insurance company, Amica wanted $1600.

Since this is my daily driver, I cant go with specialty insurance.

Every car I have ever owned...new or otherwise has been over $1K per year.

How are you not paying that much already on 'any' car? Do you live in South Dakota or somethings?

[Lucky]

I also use SF for cars & house... I pay $648 per year on my coupe here in VA. That is with the 7500 miles/year cap and $500 deductibles and the highest liability limits SF offers.

[mussberger]

If you can live with the restrictions and are a PCA member Leland West is the way to go. I just insured my 81 sc with them after having it skyrocket on my business policy in New Jersey. They have a website that allows you to tailor a quote to your individual needs.

[SeaDweller]

Thanks guys.........I'm already on a limited policy. I drove my previous SC, that I had insured with them, only 1,800 miles in two years. I told SF that I wouldn't be driving the car more than 2,500 miles/year.

While we're a two car family, I work from home, and when I'm not in my home office, I'm in a taxi to the airport for a plane ride, so I'm not in the P-car that much. For all intents and purposes, it's a pleasure vehicle.

Maybe I'll fish around for a couple of quotes. It could be the area I'm living in. Evidently, we have one of the highest accident fatality rates in the country, and several intersections were listed as some of the most dangerous in the nation, so I'm sure that all comes into play.

[Don Wohlfarth]

This is a game insurance companies play. Their investments are down and claims are high so they pass it on to their policy holders. In my area Allstate had a 20% accross the board increase on auto. 20 yrs with Allstate, homeowners and auto.
I have 4 cars on policy, no children, wife works from home, and I have a company owned p/u for daily driver. Less multi car and h/o discount I pay exactly the same thing for these cars if they were each daily drivers used for commuting.
Allstate says this is the price when I asked how was it possible for 2 drivers to drive 4 cars at the same time? Agent did admit that in Virginia that the cars were covered in de but that if I had a de claim Allstate would pay it and then cancel insurance including home owners.
You're in good hands with Allstate.

[turbo6bar]

The 78SC is $500/yr for coverage (no collision). It would have been $850/yr if I took collision. It is marked as my primary vehicle, and less than 7000 miles/yr. Interestingly, the 78 and 79 SC were very attractive, since the 80-83 SCs were a LOT more expensive to insure. Can you believe insurance on an '82SC was more than a '95 993, with the same coverage?

Every buyer should check insurance rates before they buy, because different years vary wildly, even if they are the same model.
Jurgen

[gr8fl4porsche]

I just switched the coverage on my '87 Targa to Allstate.

St. Louis, MO
Discount due to auto/home coverage.
Comp / Collision
It is a 3rd car.
Agreed value of $25,000
No mileage restrictions
$1,000 deductable
100/300/100
Me and my wife are just a little north of 35 yrs old.
$ 46.50/ month or $279.00/6 months

[adamred]

I have USAA so I know it doesn't count, but I also live in NJ, which we all know s**ks for insurance. I insure 3 cars, P-car as a pleasure vehicle but with collision is actually the cheapest car of the 3, at like $530 per year. Wife's Expedition is the most at $700 per year.

God bless the military and my father's officer status during Vietam....

Adam

[PDACPA]

Seadweller

I am in Tampa so my rates may help (carrollwood).

I have USAA (obtained as a dependent, so it runs through a different agency than the active and retired military which get the best rates).

$510 for 6 mths and the car is listed as being driven for pleasure (we have 2 other cars) and no more than 2500 miles a year.

Deductible is $250 and it has 100/300 coverage.

Im 37.

[pbs911]

AAA, $550 a year, full coverage, $500 deductable, no driving restirctions except for the race track.

[johnjr]

The 78 SC Targa is my cheapest to insure at $585 per year, full coverage (100/300), $250 deductible, agreed value of $13,900, no mileage restrictions. The Honda Civic EX (winter driver) is second cheapest, and the wife's 4X4 Grand Vitara is ridiculous. BTW, we're in our 40s.

johnjr
78 SC Targa

[911SC Pilot]

I pay $336 every six months for my 911 through State Farm.

[Harold_89_911]

Farmers Insurance
89 Carrera Targa
Discount due to auto/home coverage/clean record
Comp / Collision / Glass coverage
It is a 4th car
<4000 miles/year
$720 / year

[Joe911]

1984 Carrera listed as weekend driving, not driven to work - $325 for 6 months with MetLife Auto and Home.