Help!! Automatic 5% Yearly Insurance Increase

[Igofastr]

Well,

Today I've found out that State Farm Insurance has been hitting me was an automatic yearly 5% premium increase on my cobra (and another older car) because "they're getting older, and parts are getting more difficult/expensive to find." Never mind that my Kirkham is built entirely of new parts (excepting) the block. This is not trivial, as it amounts to in excess of an additional $100 every year (compounded every year).

My car is insured as a driver, with me as the only insured, and with a milage limitation that I've never come close to.

I would really like to keep it as a driver, so I can take it to work as weather permits. Does anyone have any suggestions? I can't use Haggerty etc, because they won't let me take it to work.

It kind of sticks in my craw, as I've had State Farm almost continuously since I got my driver's license.

Thanks for any suggestions. And, if you don't mind, call your State Farm Agent and ask them about this. My long-time agent died about a year and a half ago, and all this started as soon as the new agent took over. Seems kind of fishy. But in any case, I'd like to know if anyone else is have to put up with this?

[rodneym]

Ron,

Did you title it as a 65? Or a SPCN, 2005 (or whatever year of completion)?
I have State Farm and didn't get hit, but it's a 2003, SPCN SB-100, etc.
Maybe they think your car is a 65? That could be the problem.

[Igofastr]

Good thinking,

But mine is registered under SPCN SB-100 as a 2005. She said that doesn't matter. They are doing to all of the "KIT CARS." Seems a blatant money grab to me, as most of the "KIT CARS" are made of NEW parts.

If they can do it to me, they can do it to anyone.

Ron

[jwd]

Give Robbin a call at http://www.midwestclassicins.com/cobrains.htm Many here have their Cobras with him and I believe he has a policy that will allow you to drive it to work occassionally.

Jim

[Igofastr]

Originally Posted by jwd

Give Robbin a call at http://www.midwestclassicins.com/cobrains.htm Many here have their Cobras with him and I believe he has a policy that will allow you to drive it to work occassionally.

Jim

JWD,

Thanks, I know I spoke with Robbin years ago, when I was first looking to insure. I'll give him a call again and weigh my options.

Keep the suggestions comming. I will not stay with the agent I now have, and would like to leave her in my dust ASAP.

Ron

[McDoo]

Ron,

I too had State Farm when I had my Superformance a nd the fact of the matter is these replic'a just cost more to fix regardless of new parts or not.
My car was hit in a Safeway parking lot and the damage should not have
cost more that $2500 to fix. THese cars are not engineered to fix like a
regular car and there are no crash manuals that repair shops can go to
and get repair costs. My bill wound up costing State Farm $28k and then thay had to go fight Allstate ( the reponsible party) to get the money back
since I refused to work with Allstate. I think they are just getting it that
these cars just cost more and are just passing it through to the insured.
You own a Kirkham just be happy you can get insurance at all.......

McDoo

[bobcowan]

You're paying $2,000 a year for insurance? Dang, another reason not to live in CA.

Anyway, I get my insurance through Continental Western Group. They have a variety of plans depending on what you want. Full coverage to $50K cost me about $550 a year. But then, I don't live in CA, either. In any case, it seems to be a good company to work with. Fortunatly, I have not had to call them for anything.

[Igofastr]

Originally Posted by bobcowan

You're paying $2,000 a year for insurance? Dang, another reason not to live in CA.

Anyway, I get my insurance through Continental Western Group. They have a variety of plans depending on what you want. Full coverage to $50K cost me about $550 a year. But then, I don't live in CA, either. In any case, it seems to be a good company to work with. Fortunatly, I have not had to call them for anything.

The cobra costs $1500-1600, but to get that "rate" I had to insure a second car with them...at an additional $500. The 5% is added to the total bill.

[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

[Power Surge]

Originally Posted by jwd

give robbin a call at http://www.midwestclassicins.com/cobrains.htm many here have their cobras with him and i believe he has a policy that will allow you to drive it to work occassionally.

Jim

+100000000

[Tom Cimino]

I have State Farm also. Haven't seen a rate increase, but the bill is coming due very soon. We'll see. I've been seeing Grundy Worldwide advertised on "My Classic Car". They have a link at www.myclassiccar.com. They seem to have good rates and a liberal driving policy. You can even drive your classic car to work occasionally, if you want. I personally have a difficult time getting to work, if I'm driving the Cobra. It doesn't make that final right turn too well.

[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.

[Igofastr]

I find it interesting that State Farm instituted this policy without saying anything (must have been in some of the very fine print on one of my renewals.) I have a number of older/classic cars. None of my other insurers have done the same.

I don't know about the rest of you, but I have worked very hard to be in that tax bracket here in America that seems to have to pay for everything. I do resent it, and it seems to me that State Farm is just taking the same tact as our government...squeezing those that they think they get a little more out of. As with the ballot box, this turnip votes with his pocket book. I will not be sending State Farm any more checks. wish I had that option with Gov'ment.

[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

[JJCobra]

Ron- I went with Robbin at Midwest and my rate is about half of your State Farm rate. The only bummer is I can't drive it to work.

Jason

[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

I find it interesting that State Farm instituted this policy without saying anything (must have been in some of the very fine print on one of my renewals.) I have a number of older/classic cars. None of my other insurers have done the same.

I don't know about the rest of you, but I have worked very hard to be in that tax bracket here in America that seems to have to pay for everything. I do resent it, and it seems to me that State Farm is just taking the same tact as our government...squeezing those that they think they get a little more out of. As with the ballot box, this turnip votes with his pocket book. I will not be sending State Farm any more checks. wish I had that option with Gov'ment.

Hey Ron I hear your pain......

I didn't vote for the Turkey either but maybe you need a better tax guy...On the State Farm issue you will find it very hard to find coverage that is as liberal as State Farm. You say you want to drive to work no problem since your car is insured as a normal car subject to whatever mileage limit you chose...other companies will restrict the hell out of you. I hear your pain on the constant state hand in the pocket and so what should we do ???? Get
rid of the bleeding heart Democrates in this state and then make the remaining work LIKE YOU AND I DO....

McDoo

[Power Surge]

Originally Posted by JJCobra

Ron- I went with Robbin at Midwest and my rate is about half of your State Farm rate. The only bummer is I can't drive it to work.

Jason

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

[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?