[DiREW0LF]

Now that I am finally 25 I have a choice of specialty insurance providers. I've been thinking about Barrett Jackson , Hagerty, Leland, Grundy, etc... Does anyone have experience with them? My wife works in insurance so we know what to look for in a policy, but the willingness of a company to actually pay on a claim or the ease of dealing with them is usually the problem. (Geico is cheap for a reason!)

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[Darryl]

I was looking for a better insurance plan a while back myself, but found that most of the companies out there only offer a full coverage style or "collector car" style. Full coverage probably won't save you any money and all of the "collector car" policies are much too limiting on where and when you can drive. Almost NONE of them will allow driving to or from work or school, as that indicates daily use. Most have mileage limitations, which was fine by me, but the destination thing messed me up since I'm driving home or to work at least one direction whenever I'm in one of the cars I'd be insuring. One of the companies I inquired with was supposed to be coming up with "something in between" but now I forget which company it was and will most likely start the process all over again.

The best thing about these policies is that you can usually do a declared value in case the car is damaged. Our cars are expensive to repair in the case of accident damage and we all know you never get what you'd need to replace it should it be totaled.

Keep us posted on what you may find...

- Darryl

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[DiREW0LF]

I don't use it every day and I put about 2500-3500 a year on it so being a collector type policy isn't a problem. And its stored in a fire proof building with sprinklers which I know some of the more strict companies require. That being said I am able to get a declared value policy, I have quotes from a few already and I can save $800-1200 a year depending on the company which is great. I just want to make sure I don't have any issues forbid I need to put in a claim.

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[flash]

ok - now i feel REALLY old - i think i have socks that are older than you

the problem i have had with specialty insurance is the low payout limits - the best i could find was $300k - that doesn't go very far in a neighborhood of $80k mercedes and million dollar track houses - they take one look at that and sue for a whole lot more, leaving you on the hook for the balance

the one that AAA uses here does not have destination restrictions, but it does have mileage restrictions

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[ds968]

Your umbrella policy ( and if you don't have one, get it ! - for around $ 200 /yr premium you can buy $ 1 mil coverage limit ) will respond excess of the underlying specialty policy's $ 300k limit, just as it would over your
regular auto policy and your homeowner's policy limits.

BTW, the most economic deal I could get for the 968 with an agreed value of $ 35,000 was from Safeco .

$ 800 annual premium for no more than 5,000 mi / yr

$ 1,800 annual premium for unlimited mileage.

Neither one of the above appealed to me since the only time I'd utilize the policy would be in the event of a total loss and given the relatively low risk of that happening, I think the premium was unreasonably high.

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[DaveN]

I pitty the foo' that doesn't live in Canada (BC) - for health and vehicle insurance anyway [img]style_emoticons/<#EMO_DIR#>/tongue.gif[/img]

It costs me 900.00 CDN (725 US) for a whole year, no limits, 3 million + comprehensive and an under 25 driver. 1500.00 (1200 US) if I want full collision as well. No penalties for more than one claim per year.

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[Darryl]

<!--quoteo(post=71321:date=May 4 2009, 12:30 PM:name=DiREW0LF)-->QUOTE (DiREW0LF @ May 4 2009, 12:30 PM) <{POST_SNAPBACK}><!--quotec-->I don't use it every day and I put about 2500-3500 a year on it so being a collector type policy isn't a problem. And its stored in a fire proof building with sprinklers which I know some of the more strict companies require. That being said I am able to get a declared value policy, I have quotes from a few already and I can save $800-1200 a year depending on the company which is great. I just want to make sure I don't have any issues forbid I need to put in a claim.<!--QuoteEnd--><!--QuoteEEnd-->


I store my cars in a secure, climate controlled, sprinklered facility at my office complex...and there's the rub...if I decide to drive one home one night, I'm not covered........'cause I'm driving home! So , I go for a drive on a sunny Saturday, come back home and then, yes...........wait for it..........I'm not covered again, 'cause I'm driving it back to work to put it away. Of course, I'm being way too honest and forthcoming with info, but don't file a claim and then get caught in a lie. That's a sure no go. I guess I could say I'm taking it back to the "storage facility", but I decided not to chance it at this time. We get a multi-car and multi-line discount as homeowners and long time incident free driving and even though my wife doesn't drive the Porsches, she's on the joint policy and it's still very reasonable. Now that being said, we're a "little" older than you but not quite as old as flash's socks! Oh, by the way, we're with State Farm.

- Darryl

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[flash]

i'm paying a LOT less than the numbers above, considering i have 3 cars on the policy and live in the LA area ($2300 for all 3) - i also have VERY high limits, next to nothing deductibles, and full coverage - all with AAA

i'm not feeling at all lacking in our policies - however, the gap from the $300k to the $500k point where the umbrella picks up was enough to leave me where i had to pass on the idea - the couple hundred bucks i would save could potentially cost me $200k

if there was some gap insurance, i could go for it, but i suspect it would cost me the same as the savings and be a wash in the end

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