Looking to buy, but insurance is holding me back...

[iownedu]

Check Grundy. That's where I have my Gallardo as it's not a daily driver, would move me Z/28 there if I didn't have it for sale.
I pay 1792 a year for 500 deductibles with a $140k agreed value which I should probably raise.

[shadowhunter66]

Originally Posted by Dezines

Shadowhunter your accident was at-fault, they didn't throw you under the bus. Had the person hit you, they would be at fault, but because you "chose" to swerve and got into an accident your actions caused the accident, not the other persons. I forget the actual term but according to insurance law your actions caused damage. I am not saying it is fair, I am telling you how the law looks at this instance.

Let me give you another example. Hitting an animal will not raise your insurance, its a comp claim because "animals are unpredictable". If a deer runs in front of you and you hit them it is a comp claim and will not effect your rates. If you swerve, hit a pole and total your car, that is an at fault accident because your decision to avoid a situation caused the accident.

The moral of the story is if you have a choice to hit the person causing the accident or ditch. Aim for the idiot driver not the pole. That is what I took away.

-Former insurance agent.

That part I actually know and wasn't what I meant when I said 'threw me under the bus.' When it came time for the claims rep to determine the value of my car.. now that's when things got heated. It was ridiculous trying to talk sense to them.
But yes, I know that I need to hit people instead of trying to avoid all together.. which seems kind of funny, but hey.

[The_Raging_Bull]

Originally Posted by chip4

I am thinking about getting this Collector Car Insurance, what would be my ideal “Agreed Value” for my 15’ Z/28?

Currently in AZ Phx area with USAA: $1192/yr 5k mi, $1k deductible $100k/300k coverage + Full Glass. Mid 40’s no tickets/accidents.

Chip..
Use your purchase price as your agreed on value-every thin dime of it. If you added Xpel, add that too. Once you have an agreed on value, if totaled..like I was by an unlicensed uninsured driver...wreck to check in 23 days. When agreeing on the value all I did was to send a scanned image of my receipts.They wrote the policy immediately. It does require a daily driver to ensure it as a collectible. I also aded an additional 7$ per year for a zero deductible on my car glass replacement. I figured what he heck, if I catch some gravel on the windshield its a free replacement.

The wreck? Bittersweet moment -> but eventually nothing but smiles. the National Corvette Museum/American Modern..also added 2% inflation for each quarter you had the policy. When I had my wreck..I had the policy for 9 months 6 days..hence 2% per quarter for 3 quarters...$2100 extra.. Man did that $39,100 check put a smile on my face. I'm guessing the 23 year old was none too happy when he got sued by American Modern. In a perverse way I'd have like to been there when he got that registered letter..to tell him AMIG was going to slice and dice him like he threatened me at the scene. Weird thing was I had my carry under my jacket..so I never pulled it out; I just held up my phone and said I'm recording everything you say.

[68camaroz28]

Originally Posted by Raven87

I'm 63, State Farm, $500 deductible, $925/yr with multi-car discount plus they insure my home, clean record other than one 62 in a 50 ticket a year ago.

Steve does State Farm offer "declared value" on your car? If not, its what they say its worth at the time of accident. Our declared value is for what I paid for the car new and I'm paying $500 a year but have other muscle cars on the policy.

[Snoman]

Originally Posted by Mac-427

I have a Collector Car policy with Berkeley insurance. $75,000 agreed value for around $800 per year. Other provisions of the policy are the usual.

^^^ Winning

Originally Posted by Mac-427

I have a Collector Car policy with Berkeley insurance. $75,000 agreed value for around $800 per year. Other provisions of the policy are the usual.

There is not one other provision of a collectors policy that is even remotely "the usual" of standard insurance.

Many have mileage limits, some don't
Most have driving limitations, you're not taking your Z to the grocery store
All have superior coverage limits, most starting at $500k/$300k/$500k or if you're lucky, single blanket coverage starting at $2MM.
Most will cover up to $10,000 in tools and spare parts in the garage
Most guarantee flat bed towing up to $1,000 flat charge
Most come with road side assistance

Originally Posted by LateBrakeU2

Get a quote from a collector car insurance company, you would be shocked how much less it can be for like coverage(provided it's not going to be your DD) My Z was around 400.00 per year,and stated insured value to boot.

Call them back and verify your stated value, $400/yr seems low for $50k

Originally Posted by Dezines

Shadowhunter your accident was at-fault, they didn't throw you under the bus. Had the person hit you, they would be at fault, but because you "chose" to swerve and got into an accident your actions caused the accident, not the other persons. I forget the actual term but according to insurance law your actions caused damage. I am not saying it is fair, I am telling you how the law looks at this instance.

Let me give you another example. Hitting an animal will not raise your insurance, its a comp claim because "animals are unpredictable". If a deer runs in front of you and you hit them it is a comp claim and will not effect your rates. If you swerve, hit a pole and total your car, that is an at fault accident because your decision to avoid a situation caused the accident.

The moral of the story is if you have a choice to hit the person causing the accident or ditch. Aim for the idiot driver not the pole. That is what I took away.

-Former insurance agent.

While this may or may not be true for your state, it's not entirely accurate. How claims are handled vary by state to state, company by company and even varying by adjusters.

Originally Posted by 68camaroz28

Steve does State Farm offer "declared value" on your car? If not, its what they say its worth at the time of accident. Our declared value is for what I paid for the car new and I'm paying $500 a year but have other muscle cars on the policy.

Yea, no. Standard insurance coverage is going to give you whatever the state law orders them to give as the bare minimum acceptable by the State Insurance Commission.

In Texas, this is going to be less than $40k (Black book trade in, less ~5%). Some companies in Texas will offer a 10% replacement value addition rider for free, so you'll get $44k.

[chip4]

Originally Posted by The_Raging_Bull

Chip..
Use your purchase price as your agreed on value-every thin dime of it..

Hi Larry, I got a few quotes.
American Collectors Insurance:
$1352/yr Agreed Value: $63K, 5k mi, $100k/300k, $1k ded.
$1058/yr Agreed Value: $50k, 5k mi, $100k/300k, $1k ded.
NCM (American Modern)
$1068/yr Agreed Value: $57k, 6k mi, $100/300k, 1k ded.
$880/yr Agreed Value: $50k, 6k mi, $100/300k, 1k ded.