[Donatello.]

My Hellcat is not my daily driver and at this point I'm lucky if I put a thousand miles a year on it.

I only put around 2,000 mi a year on my Miata.

I'm with State farm and I'm hoping to find a cheaper provider that isn't one of the mainstream ones that ensure every regular car. I know companies like hagerty would be cheaper but they're not going to cover me if I get hit in a Walmart parking lot or something. I still want to be able to use the cars for errands and enjoy them. Not just to and from a car show.

Do I have any options?

[B58-M340iX]

State farm...which doesn't help you at all

[zx10guy]

I'm with State Farm too and have a bunch of vehicles, boat, motorcycles, homes, and umbrella policy with them.

First question is did you change the status of your Hellcat as a pleasure/weekend car? My 1er is currently insured under this status.

Second, what are your coverage limits? And what is your overall net worth? This will will influence how you go about doing this. Many people don't think about the liability you have with how litigious society is. Many think the basic or predominate coverage limits are enough to protect you. They're not. This is why I have an umbrella policy. For me to get an umbrella policy through State Farm, I had to max out the liability coverage limits on all my vehicles. I don't even know if you can get umbrella coverage from another carrier if you don't have your vehicles insured through them as well.

[MassWholeBimmer]

Amica for both vehicles, home, and umbrella policy.

[mjj]

State Farm here as well. No complaints. I assume you have the lower rate based on less than 7500 miles a year?

[BWBike]

I too have State Farm with many policies. When I inquired about the new x1, it was 1/3 the price of Allstate which is the company my wife had. She only had one vehicle on her policy.

I will stay with State Farm.

[Phizzzle]

Grundy insurance. Had them insure our hellcat when we had it for about 5 years. Highly recommended.

[NSXR]

I have Travelers at the moment, but I'm switching to Grundy very soon.

[W///]

Why would Hagerty not cover you if you get hit at a Walmart? You might want to read up on them, the insurance is not just for driving to car shows only. It just can't be your daily driver (aka you have to prove you have another DD).

P.S. I have them for all my cars and extremely happy with them. Agreed value is a big deal for me.

[NSXR]

The Hagerty quote I got was impossibly expensive, I might as well just buy new cars.

[ppointer]

Hagerty is definitely not cheaper. However, they insure half of my cars at my stated value, and I can still put a couple thousand miles per year on them.

USAA has the other half, and two of them are liability only as they are not worth much. I have a rather large umbrella policy, and USAA lists all of my vehicles there, including the half of my cars that are covered by Hagerty.

I was with Progressive for a couple of years. Despite the messages in their ads, I found them more expensive and more difficult.

Went back to USAA after two years with Progressive. Problem with USAA was they would not do stated value on classic or rare cars. They do have a partner for that, but then you are limited to car shows, etc. Hagerty is much more flexible, but you pay for that.

[spazzyfry123]

I just changed from State Farm after being a 20 year patron with no at-fault claims throughout that period. Rates just kept going up and up with some trickery behind the scenes having me pay for things but not actually having them (totally different story for that one). They broke me when I sat down to discuss options and rate changes and effectively told me that tenure had no weight, and the clerk gave a smartass response when I asked how the rates were so outlandish. I get it, everyone has been seeing hikes, but mine were just shooting to the clouds.

I enlisted an insurance broker which moved everything over. Now I have three vehicles, homeowners, and a life insurance policy with Auto Owners Insurance with one vehicle holding an agreed-to value with no restrictions (other than needing an antique tag). I have another vehicle with Hagerty also with an agreed-to value (and no mileage restrictions). All hold $500k "stackable" coverage and end result is I am saving almost $2k/year on insurance with greater coverages than I had with State Farm.

[W///]

Originally Posted by NSXR

The Hagerty quote I got was impossibly expensive, I might as well just buy new cars.

Originally Posted by ppointer

Hagerty is definitely not cheaper. However, they insure half of my cars at my stated value, and I can still put a couple thousand miles per year on them.

USAA has the other half, and two of them are liability only as they are not worth much. I have a rather large umbrella policy, and USAA lists all of my vehicles there, including the half of my cars that are covered by Hagerty.

I was with Progressive for a couple of years. Despite the messages in their ads, I found them more expensive and more difficult.

Went back to USAA after two years with Progressive. Problem with USAA was they would not do stated value on classic or rare cars. They do have a partner for that, but then you are limited to car shows, etc. Hagerty is much more flexible, but you pay for that.

Interesting, I've been with Hagerty probably 7 years now and have been really happy with them, granted I've never needed them for anything yet (knock on wood).

Agreed value on 4 different M's (E36 M3, E92 M3, Z4M and M4 GTS) and the total bill is $210 a month. Granted, I'm in the X5 99% of the time, so the M's rarely go above 2000 miles per year each. Maybe that's what makes a huge difference.

I've never tried, but I would imagine those same 4 cars on a normal insurance policy would be at least double. Regardless of price, the agreed value is what matters the most to me. My E36 M3 is a Techno Violet 5MT Coupe. KBB on it is probably $6k, but in reality, the car is probably $18k. It's not a museum piece, but it's a desirable spec.

[3798j]

Posting this because the two terms being discussed, stated value and agreed value, might sound as if they are identical, they're not.

Agreed Value:
Definition:
Agreed value is a type of insurance where you and your insurer agree on a specific value for your vehicle at the start of the policy, which remains fixed throughout the policy period.
Claim Payout:
In the event of a total loss, you'll receive the agreed-upon value, minus any deductible.
Common Use:
Often used for classic, collector, or modified cars where the value can be difficult to determine using traditional methods.
Higher premiums:
Agreed value policies usually have higher premiums because the insurer is taking on more risk by agreeing to pay out a specific amount.

Stated Value:
Definition: Stated value is a policy where you, as the policyholder, determine the value of your vehicle and state it to the insurer.
Claim Payout: The insurance company can choose to pay the stated value or the actual cash value (ACV), whichever is less.
Common Use: Also used for insuring classic, collector, or modified cars.
Lower premiums: Stated value policies tend to have slightly lower premiums compared to agreed value, but the potential payout after a claim is less certain.

[NSXR]

Originally Posted by W///

Interesting, I've been with Hagerty probably 7 years now and have been really happy with them. Agreed value on 4 different M's (E36 M3, E92 M3, Z4M and M4 GTS) and the total bill is $210 a month. Granted, I'm in the X5 99% of the time, so the M's rarely go above 2000 miles per year each. Maybe that's what makes a huge difference.

I have 2 toy cars, both worth about $90K in my eyes, so $180K, and the Hagerty premium was insane. One I drive about 1,500 miles a year, the other about 400 miles a year.

They needed to be in the "modified" category, and that's what was driving the premium up. From an online quote to reality was double the price.

Originally Posted by 3798j

Stated Value:
Definition: The insurance company can choose to pay the stated value or the actual cash value (ACV), whichever is less.

ACV is wholesale. That's not insurance at all, and should never be used for a car worth anything.

[x622]

Originally Posted by NSXR

I have 2 toy cars, both worth about $90K in my eyes, so $180K, and the Hagerty premium was insane. One I drive about 1,500 miles a year, the other about 400 miles a year.

They needed to be in the "modified" category, and that's what was driving the premium up. From an online quote to reality was double the price.



ACV is wholesale. That's not insurance at all, and should never be used for a car worth anything.

I highly recommend you call them and if you can engage with some brokers who can help you. I use this too, and it's basically the only way to get some things insured correctly. The online quotes are usually worthless.

[3798j]

Originally Posted by NSXR

They needed to be in the "modified" category, and that's what was driving the premium up. From an online quote to reality was double the price.

When I did a resto-mod '55 pickup (25 yrs ago) my collector car insurance company wouldn't quote it. Called Grundy, got a quote for it and a lower price for my other old cars. Today I have my '08 BMW Z4 and 5 old cars with Grundy. Haven't had a claim, but a friend has. Their adjuster was top notch and handled the claim much to his satisfaction.

From their website...https://www.grundy.com/classic-cars/:

What Types Of Cars Do You Cover?
Grundy insures most types of vehicles 25 years old and older. We also insure modern muscle cars and exotics of all years. Not only that, we insure modified vehicles with higher performance engines, suspensions, and modified bodies. We understand custom vehicle valuations very well, and in fact Grundy is the largest insurer of hot rods in the USA!

How Can I Use My Car?
Grundy wants you to enjoy your car, not keep track of mileage like some programs with limitations. Therefore, we give you unlimited miles for pleasure driving and in collector car-oriented activities. It is even OK if occasionally you drive your collector car to work to show it off to friends. However, your collector car must not be used as a daily driver. We require you and all licensed drivers in your household to have a modern car for everyday use.

When you have your car at home, it must be kept in an enclosed, secure garage when not in use. If you are away from home on extended outings your car is fully protected if you must park it outside, for example in a hotel parking lot. Grundy coverage includes Trip Interruption that reimburses you for hotel and repair costs in the event of a breakdown, and we also reimburse you for towing and labor charges up to $250. You can count on Grundy as you cruise.

[NSXR]

Originally Posted by x622

I highly recommend you call them and if you can engage with some brokers who can help you. I use this too, and it's basically the only way to get some things insured correctly. The online quotes are usually worthless.

I work in the industry, the broker sits in my office. They just don't want to insure cars that are modified, simple as that. And if they do, they rape you over it.

I'd suggest anyone that has Hagerty take a look at Grundy, it's free to do so, and they might really be surprised.

[XutvJet]

I have State Farm and have since the late 1990s. I have 5 cars, our home, and an umbrella policy with them. When we've had wrecks, broken windshields, vandalism, etc. that's happened over the last 20+ years, they've always been great to work with.

Given that their rates kept creeping up and up, I asked friends who have other insurance providers and they were experiencing the exact same thing, plus many of them say their providers absolutely suck to deal with there is a claim so I've just stayed with State Farm.

I have a friend that uses a broker to shop his insurance every year. A couple of years back, he jumped to a new provider and was bragging about how much it saved him. I couldn't believe how much he was saving with some no name provider. A year later, his son's 2008 G35 gets stolen. He turns in the claim and they're like, "You don't have comprehensive on that car, please go pound sand." He didn't bother to review all his polices when he made the jump. None of his cars at the time had comprehensive. No wonder his insurance was so cheap. LOL

[NSXR]

Originally Posted by XutvJet

I couldn't believe how much he was saving with some no name provider. A year later, his son's 2008 G35 gets stolen. He turns in the claim and they're like, "You don't have comprehensive on that car, please go pound sand." He didn't bother to review all his polices when he made the jump. None of his cars at the time had comprehensive. No wonder his insurance was so cheap. LOL

As I said, I work in insurance, so I know fist hand how difficult it can be to compare apples to apples. With an industry so competitive, any time you get a quote that's way off the mark you should be suspicious.

[JABCAT]

Originally Posted by Phizzzle

Grundy insurance. Had them insure our hellcat when we had it for about 5 years. Highly recommended.

I have Grundy for my Callaway Carbon Edition Z06. Agreed value, no restrictions, $0 deductible & low premium ($100/month).

[Humdizzle]

Originally Posted by NSXR

I work in the industry, the broker sits in my office. They just don't want to insure cars that are modified, simple as that. And if they do, they rape you over it.

I'd suggest anyone that has Hagerty take a look at Grundy, it's free to do so, and they might really be surprised.

i used to have grundy and switched to hagerty a couple years ago.

grundy dropped me because even though my record was clean, i had gotten married and now my wife was in the same residence, and she filed a claim a few years ago. they didn't even raise my rate, just flat out dropped me.

side note i did check with state farm, great rates.. but they do not have an agreed value policy which is a complete no go for my gt3.