Geico Collectors Insurance Experience

[AVDCAV]

Well I must say getting my 88 Slant and my 67 Cobra onto a collectors policy was beyond easy " I like many really never even think insurance" I always just took it for granted.. Bill comes pay bill have accident file claim.. And after some education from a friend I was informed that is not exactly how it works.

Before
2006 Cayenne TT
2000 GMC Safari
2009 Scooter 125cc
1988 911 Slant
1967 Everett Morrison Cobra Replica

Total $3,029.00 Yearly No guaranteed value at all just basic NADA

Now
2006 Cayenne TT
2000 Gmc Safari Normal FC policy
2009 Scooter 125cc

Total $1,143.12 Yearly

88 911 Slant Guaranteed Value $85,000.00
67 EM Cobra Guaranteed Value $60,000.00

Total $1,681.80 Yearly

Now I am at $2,823.92 opposed to $3,029.00.... That's a savings of $205.08
which will pay for gas for the Porsche and the Cobra for a single weekend of
driving.. This is also something others should look into " God forbid anybody gets into an accident and the vehicle is totaled" Can you imagine getting a check for let's say $12,500.00 for a car you have 3 X that into without you blood and sweat ? I would be devastated.

I sent 6 pictures of each car and this policy was done in about 40 mins " Gave them a CC number and said " Talk to you next year..

[crownarch]

The most interesting thing about auto insurance isn't the monthly or yearly bill but, how they take care of you when your vehicle(s) gets damaged. The best way to judge how your insurance company will take care of you is talk some the high quality body shops in your area. Ask them how it was to work with the insurance company adjuster, what did they want the body shop to take short cuts on, what did they want the body shop to discount to the insurance company when it came to fixing a vehicle. There are some real shyster insurance companies out there just like in other businesses.

[X JBM X]

I use Hagerty. $30k guaranteed value. $575/year - I splurged $50 for additional roadside assistance. Here's why...

I called many insurance companies when I purchased my car, and wound up with Hagerty. PCA recommends Leyland West, which I called, as well as others...

Basically, the story is this - when I purchased my car, I put it in my father's name. To classify for classic car insurance, you must have 1 daily driver vehicle per member of the household. My folks qualify, I do not. My fiance and I live in a city, and have 1 daily driver due to the parking inconvenience. (the Porsche lives in Dad's garage)

Now, my father qualifies for insurance through most of the other, less expensive firms. Hagerty was the choice for me for one reason: I can drive my own car (in my dad's name) without any restriction. The other companies either wouldn't let non-named insured drivers get behind the wheel, and some had restrictions as to how often the car could be driven by an non-named insured (something like 2 days / month).

Hagerty had no restrictions with regard to this. I drive my car when I want, where I want, for whatever period of time I desire. If my fiance wants to drive, it's not a problem. The only restriction is on yearly mileage, which all the classic insurance companies have anyway.

[SweetWaterSurprise]

American Collectors with agreed value

[porterdog]

Originally Posted by X JBM X

The only restriction is on yearly mileage, which all the classic insurance companies have anyway.

What is the annual allowed mileage?

[X JBM X]

Originally Posted by porterdog

What is the annual allowed mileage?

I believe I get 3k, but any unused mileage rolls over.

[grizzfan]

I use American National Property & Casualty (ANPAC) GOLD policy on my Porsche. I could declare the value sight on seen for up to $25K, which I did and spend about $10 per month for this policy. It carries the same coverage as does my "normal" vehicle. I am limited to 7,500 miles per year and cannot race the vehicle (but I can still drive it fast!!) No need, thank God, at this point to see how they treat me after an accident; but as some one said, that's they only important discriminator in finding an insurance company.

Tom

[Algernon]

Originally Posted by LIVEVIL

American Collectors with agreed value

+1
American Insurance with $1000 deductible, gives me 7,500miles/year,
$150 towing and $100 help, for about $516/yr. $40,000 declared value.
State farm would not help, even for a 32 year customer!

[ghamilton]

Hagerty has no mile restriction; I am reinsuring my SC as we speak; I posted for
3,000 Monday; changed quote request to 7500 cause I'm doing a 900 mile road
Trip to bring her home.

And they treat your car like a classic car; including special $25 addl coverage
For rallies or club driving (not racing) events with trip interruptions.

Everyone I know that has filed claims through them has been ecstatic.
Guys writing up claims are car buffs.

$330 $25k guaranteed value; 100/300; premium roadside.

Visit their site & web page; you'll be impressed.

[0396]

Guys, great discussion and info. Thanks

[AVDCAV]

I have no milage restrictions , so that's cool

[HawgRyder]

Insurance company rule #1....never lose money!
Rule #2....see rule number 1.
Bob

[Deschodt]

Originally Posted by ghamilton

Hagerty has no mile restriction

which is great new if 1/2 your cars don't have a working odometer. What? I have kids, no time to fix the trivial stuff ;-)

I'm sure all of the above are good companies. I can only vouch for Hagerty, because they cut me a decent check to repair my car properly, no problems, no hassle, no arguments. And better yet they did not dump me at renewal time, unlike my regular car insurance which did dump me like a dirty diaper after 7 years for 3 windshield repairs ($200 total) and one "accident" where my car was parked (and the other guy paid)!!! Until you file a claim, the quality of your agency is just conjecture... Most of the names above have a good rep - but I can vouch for Hagerty.

[wildthing]

I am adding my experience as an FYI to everyone. YMMV as your situations are different:

1. Leland West - requires all licensed/eligible for DL members of the household to have 9 years driving experience/being licensed; requires that each eligible for DL member of the household have their own car

2. Hagerty - won't insure if you have an at fault accident in the last 3 years; won't insure for 6K miles a year; 5K seems to be ok; requires that each eligible for DL member of the household have their own car

3. ANPAC - will not insure if you take your car to DE, Autocross or any timed event, even if you know it's not covered.

4. American Collectors - will not insure if you take your car to DE, AX or any timed event, even if you know it's not covered.

5. GEICO Collectors - they are actually an agent for another company, I forget which one but I'm sure you can Google it; requires that all eligible to be licensed drivers have been licensed for at least 3 years; they would've been ok to insure a car that goes to DE, AX, etc., but know that it is not covered; requires that each eligible for DL member of the household have their own car

[nineball]

Originally Posted by Algernon

State farm would not help, even for a 32 year customer!

sounds like you need a new agent. i have had a state farm collector (or classic, i forget the name) policy on my 83 targa since i bought it 5 years ago. roughly $500 a year, $30,000 agreed value but there are two caveats - 5k miles a year or less (no problem), must have a dd insured as well (no problem again). took it to my agent for photos originally, then as i add/improve items i give him a list and new photos.

[rs6er]

I have been using American Collectors for a few years. This winter I had damage from a comprehensive claim. Basically snow accumulation caused my carport to collapse. I took the car to a very reputable Porsche restorer. They had a difficult time getting the company to pay for the proper repairs to the car. The checks came from American Bankers Insurance Company of Florida, which was the holding company. I wasn't really dealing with Collectors after I submitted the claim. I asked the shop who WAS good to deal with- Hagerty was their recommendation.

A cheap policy isn't your best insurance.

[redranger]

American collector. $30k agreed value, 5k mileage per year, can't drive to work, won't insure driving events (dont do any). By far, the cheapest...$187/yr. I had an incident, not my fault, they were very easy to work with.

[jrsully]

Being on the business, you have to pay particular attention to the insuring carrier that is actually providing the coverage, Hagerty, Amer Collectors, Leyland, Geico, Grundy etc. are BROKERS, they are not the company that is providing the actual coverage or paying out the claim $$, nor (in most cases) the company sending the adjuster to look at damage. Hagerty tends to be good because they are big and they "strongarm" the carriers they use to be sure claims and service are good. some of the smaller brokers, you really need to investigate the underlying insurance carrier they are using. Just my .02

[86 ssinit]

Using haggerty now. The plus to haggerty is they are the only insurer who let under 21 year olds drive your car with you in or around them. Over 21 with a dd and they can be named on your insurance and drive by themselves. This is a great thing because if you don't get the kids interested there won't be a hobby. Also geico uses American collectors.

[cknaak]

Regarding Haggerty...Does this quote seem High?

I'm almost finished with a pretty comprehensive 76 Hotrod/backdate project. I was in the process of switching insurance companies for my home and auto and the agent happened to be a Haggerty broker. I asked him to give me a rate on the 76 @ 35k agreed value.

The quote came back at $1,200 a year...He said that was one of the higher quotes he had seen and thought it may be because he had to submit it as a custom car. Thoughts?