Help!! Automatic 5% Yearly Insurance Increase - Page 2

McDoo · #21 (**permalink**) 03-29-2009, 05:51 PM

Quote:

Originally Posted by Igofastr

Ha Ha,

McDoo,

I can afford the yearly increases. I own 4 vintage Porsches and a vintage Mercedes. I'm a partner in a faily large practice, and that just wouldn't get under our radar. If it did, I'd have our business manager fired.

Good day, Ron

My.....

Seems like you have some restrictions here. Why don't you buy your own insurance and not try to hide it the company coverage. I'm sure your business manager would appreciate the nice jesture and your partners too.....

McDoo

JJCobra · #22 (**permalink**) 03-29-2009, 07:03 PM

Quote:

Originally Posted by Power Surge

Yes you can, give Robbin a call. He has drive to work policies now and it's only a few bucks more.

Not in California. I asked Robbin about this just last week and California is one of a handful of states that still doesn't permit this.

Jason

Igofastr · #23 (**permalink**) 03-29-2009, 08:35 PM

Quote:

Originally Posted by McDoo

My.....

Seems like you have some restrictions here. Why don't you buy your own insurance and not try to hide it the company coverage. I'm sure your business manager would appreciate the nice jesture and your partners too.....

McDoo

Sorry for the misunderstanding, but the company doesn't pay my car insurance. It's out of pocket for me. The practice only specifies fairly steep liability coverage. When I spoke of the 5% increase, I meant in a general sense. We simply wouldn't accept a supplier's automatic yearly increase without looking into alternatives. But it wouldn't change my arguement, even if the practice covered it for me.

Ron

McDoo · #24 (**permalink**) 03-29-2009, 09:09 PM

Quote:

Originally Posted by Igofastr

. It's out of pocket for me. The practice only specifies fairly steep liability coverage. . We simply wouldn't accept a supplier's automatic yearly increase without looking into alternatives.
Ron

Why don't you take out a large umbrella policy like I do...It's not that expensive to get 25 million in coverage
and then you have nothing to worry about. Seems to me like you are getting upset about nothing.

McDoo

Ron[/quote]

Igofastr · #25 (**permalink**) 03-29-2009, 09:11 PM

McDoo,

Certainly under consideration.

RR

glassdriver72 · #26 (**permalink**) 04-09-2009, 06:05 PM

I received a quote from Grundy today for a 1965 Cobra valued at $40,000. The total would be $500 per year. There are restrictions on driving though.

davids · #27 (**permalink**) 04-09-2009, 07:02 PM

TRY CONDON AND SKELLY 800-257-9496....Best rates around....Dave

jwd · #28 (**permalink**) 04-09-2009, 07:10 PM

Quote:

Originally Posted by davids

TRY CONDON AND SKELLY 800-257-9496....Best rates around....Dave

I tried them. Robbin at Midwest beat them by a large margin on my Cobra and Corvette.

GreenSnakeDoc · #29 (**permalink**) 04-15-2009, 01:42 PM

I had to get a State Farm policy on my Cobra replica because my long-time insurer, Nationwide, won't right collision or comprehensive on any kit car. I have four cars in the family, so I switched my Corvette to State Farm to take advantage of the multi-car discount. With 2 still at Nationwide, I get a multi-car discount there also. Now, when November comes, I turn in the tags on the Cobra and cancel all the insurance on it except comprehensive. So far, so good. Then I get my next bill, and see that I am charged Uninsured and Under Insured for both vehicles; about $60. per car. I complain to my agent that Cobra, taken off the road, shouldn't require U & U insurance and he agrees. When he tries to get this removed from the home office in my state, they say their computer is set up to charge this fee, and they can't change it. At least with State Farm I get to drive the Cobra like anyone would drive a "normal" car: to work, to the store or any place else where I don't have to keep it within sight all the time it's out of the garage.

jhv48 · #30 (**permalink**) 04-15-2009, 06:40 PM

I chose State Farm for a couple of reasons.

1. No restrictions on the use or mileage of my car.

2. IF I wipe out and need them to be in my corner, I want the BIG DOG there.

I am not looking for the cheapest insurer. I don't hire the cheapest lawyer, go to the cheapest surgeon, buy the cheapest clothes or employ the cheapest worker. Why would I want the cheapest insurance company representing me if I'm going to get my a-- sued off? I want the best, and I am willing to pay more for the peace of mind.

You guys should check out the top rated companies when it comes to claims.

I don't care who is the best at collecting my premiums. I want the company that will stand beside me when I really need them.

And so far, that is State Farm.

Igofastr · #31 (**permalink**) 04-16-2009, 09:39 AM

Jim,

You're not a State Farm Agent, are you? Come on, come clean.

jhv48 · #32 (**permalink**) 04-16-2009, 09:51 AM

Quote:

Originally Posted by Igofastr

Jim,

You're not a State Farm Agent, are you? Come on, come clean.

Good catch.

Wife is!

Bobcat · #33 (**permalink**) 04-16-2009, 10:50 AM

For what it`s worth , the type of coverage must vary greatly from state to state . I just heard from my State Farm agent who I have all my insurance with ( 3 cars , house and umbrella for over 20 years ) and he checked with the home office . In SC , they will NOT write an agreed value policy .... ACV and Stated value , yes ... but not agreed value . This is why I chose to go with Robin at Midwest Classic .

Bob

jhv48 · #34 (**permalink**) 04-16-2009, 12:38 PM

State Farm generally determines the value of your car at the time of a loss.

It is based on the average private party sales price of a similar vehicle as yours on the day of the loss.

So, if you spent $85k on the car, but similar cars are selling for $50k at the time of the loss, yours will be valued at $50k. If you spent $50k on it but it is selling for $85k at the time of the loss, you will get $85k.

That is how they base the value of all their insured vehicles. It's value is whatever comparable vehicles are selling for at the time of the loss.

Very fair if you ask me. Blue book and wholesale pricing have nothing to do with determining the value of your vehicle if you are with State Farm.

Check out some of the other big names in insurance and see how they determine the value of your vehicle. The words, "wholesale value" and "Bluebook" just might pop up.

danc30 · #35 (**permalink**) 04-17-2009, 03:38 PM

Quote:

Originally Posted by jhv48

State Farm generally determines the value of your car at the time of a loss.

It is based on the average private party sales price of a similar vehicle as yours on the day of the loss.

So, if you spent $85k on the car, but similar cars are selling for $50k at the time of the loss, yours will be valued at $50k.

Well that doesn't seem right. Let's see, car costs $85K, insurance company looks at other "replicas" that were built on the cheap and says mine is the same value as theirs. Yeah, that's fair.

That's why I went with Robbin at Midwest. AGREED Value, which means I get what both he and I agree to as the vehicles value at time of insuring it. The agreed value also goes up each year automatically, but my cost hasn't.

+1,000,000,000 for Robbin

MaSnaka · #36 (**permalink**) 04-17-2009, 04:11 PM

JHV38,
Danc has a good point. Maybe you can offer some insight to it. The replica Cobras do vary greatly in value and components. He apperantly has a Cobra valued at say 85K and others on the market say 35K. How does State Farm compare apples to apples? One is a Kirkam and one is a Classic Roadster...both considered replica Cobras and clearly apples and oranges in comparison. Use any cars as a variable, I just used these as an example. Even two cars of the same manufacturer can vary. I have State Farm coverage on my cars and home including the Cobra, I am a little weary of bringing the subject up with them as I don't want red flags to start flying, I'm sure you understand why. Maybe your wife can answer. I do like the no restriction driving policy though, but if my car were lost or stolen where would I stand? Thanks!

John

omnicro · #37 (**permalink**) 01-02-2013, 01:36 AM

Try Haggerty, my $65,000 SPF costs me $600. a year.

pliot_guy · #38 (**permalink**) 01-07-2013, 12:22 PM

I just got the yearly auto insurance bill and it was $1,000 more this year than it was last year. So I called them and asked why it was more expensive. Their response was: "inflation"

PANAVIA · #39 (**permalink**) 01-08-2013, 03:10 AM

I have noticed ALL insurance companies are trying that penny-ante bull lately.

A note on metal costs ; aluminum and stainless have both jumped up in the last 12 months.

mr. G · #40 (**permalink**) 01-08-2013, 10:49 AM

Quote:

Originally Posted by pliot_guy

I just got the yearly auto insurance bill and it was $1,000 more this year than it was last year. So I called them and asked why it was more expensive. Their response was: "inflation"

WOW!!!! i live real close to you and just renewed my policy with statefarm the rate was within a couple bucks of last years, 5 vehicles, house blah blah..fingers crossed....