Help!! Automatic 5% Yearly Insurance Increase

[Rick Parker]

Haven't you heard(?) the price of Aluminum is GOING UP!

And to those of you not so fortunate to live here, this is how we support the illegals and pay for the sunshine.

[McDoo]

Come on guys you are not understanding the problem... Some clown hits your Baby and what do you do ?? Take it right on down to Earl Schibe !!! I don't think so!! If your car is aluminum there just are not that many shops that can handle that repair and they don't work for $54/hr.. These guys are getting better informed and they just aren't going to pass through the extra cost of insuring these cars. SOON in Ca you won't find any insurance for a Kirkham or a SPF and we can forget the rest. In the eyes of the insurance companies it just makes no sense. Get used to it as the hobby is just a nich market with NO PROFIT. Now pay the price and quit *****en you might have something.

I am in no way affiliated with insurance companies but I do get the real picture having been there and done that.

McDoo

[Igofastr]

Originally Posted by McDoo

Come on guys you are not understanding the problem... Some clown hits your Baby and what do you do ?? Take it right on down to Earl Schibe !!! I don't think so!! If your car is aluminum there just are not that many shops that can handle that repair and they don't work for $54/hr.. These guys are getting better informed and they just aren't going to pass through the extra cost of insuring these cars. SOON in Ca you won't find any insurance for a Kirkham or a SPF and we can forget the rest. In the eyes of the insurance companies it just makes no sense. Get used to it as the hobby is just a nich market with NO PROFIT. Now pay the price and quit *****en you might have something.

I am in no way affiliated with insurance companies but I do get the real picture having been there and done that.

McDoo

McDoo,

Thanks for the constructive input.

BTW, My (soon to be former) agent says that State Farm is adding this automatic yearly 5% surcharge to ALL older cars that they insure. So, it's going to get really expensive to keep that '74 Pinto that you've been hanging onto on the road.

[McDoo]

Originally Posted by Igofastr

McDoo,

Thanks for the constructive input.

BTW, My (soon to be former) agent says that State Farm is adding this automatic yearly 5% surcharge to ALL older cars that they insure. So, it's going to get really expensive to keep that '74 Pinto that you've been hanging onto on the road.

Ron,
I'm sorry you have such an issue with the facts. Insurance companies want
to negotiate group labor rate in the $50/hour range. I"m sorry but you will
not find a reputable restoration shop that charges those rates as they tend to be more like $90/hour here in Ca.I don't have a Pinto but I do have some expensive cars so 5% is not a big deal with me but perhaps you got in way over your head when you bought the Kirkham...lot's of guys do... just don't take it out on the messenger.

McDoo

[Igofastr]

Originally Posted by McDoo

Ron,
I'm sorry you have such an issue with the facts. Insurance companies want
to negotiate group labor rate in the $50/hour range. I"m sorry but you will
not find a reputable restoration shop that charges those rates as they tend to be more like $90/hour here in Ca.I don't have a Pinto but I do have some expensive cars so 5% is not a big deal with me but perhaps you got in way over your head when you bought the Kirkham...lot's of guys do... just don't take it out on the messenger.

McDoo

Ha Ha,

McDoo,

I'm not here to get in a pi$$ing match. I can afford the yearly increases, I just don't want to pay it without good reason. I own 4 vintage Porsches and a vintage Mercedes. None of my other insurance companies have tried the 5% trick. If you accept a yearly 5% increase without saying a word, thats up to you. 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

[McDoo]

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

[Igofastr]

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

[jhv48]

I too have State Farm insurance and my car is titled as a 2007 SPCN Cobra.

My price has stayed the same. I pay about $350/ 6 months for top coverage, low deductibles and under 7500 miles per year.

Are you sure they are raising you for just that reason and no other?

[GreenSnakeDoc]

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]

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]

Jim,

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

[wupster]

remember inflation! Insurance companies have to deal with this just
like eveybody else does. I have State Farm. and own several vehicles
30 years or older, cost has gone up minimally over the years.