Anyone here running collision insurance on your TB?

[Warp6]

I've had collision on my GN since I bought the thing. I'm looking at cutting back a little and think it's time I dropped the collision from my policy. It's costing me $58 for 6 months. I really don't know what would happen if I had a wreck due to my fault with my existing coverage with the car's age. What do you guys think? Thanks, Craig

 

[Audie1]

I've had collision on my GN since I bought the thing. I'm looking at cutting back a little and think it's time I dropped the collision from my policy. It's costing me $58 for 6 months. I really don't know what would happen if I had a wreck due to my fault with my existing coverage with the car's age. What do you guys think? Thanks, Craig

Grundy Collectors Ins........but it has to be garaged etc. Agreed upon value etc. Full coverage. Mine's insured for 25K. This insurance gives me some peace of mind, especially after I found out from Geico that they would total the GN at like 6 or 8 K of damage.....needless to say I dropped them and got Grundys Ins. :biggrin:

 

[NCTyphoon]

IMHO, a person would come out a lot better by taking out a personal loan to repair their car than to use collision insurance. If you do more than $500 damage, points go onto your insurance for 2-3 yrs, and you end up paying dearly for using your insurance. For me, I'll either borrow the $$ or park it in the backyard.

 

[Grumpy]

It's costing me $58 for 6 months. I really don't know what would happen if I had a wreck due to my fault with my existing coverage with the car's age. What do you guys think? Thanks, Craig

wow thats a lot of $$$.. I'd drop it and if it gets wrecked just junk it and get another one oh I'd take it off that old Vette to!!

 

[T-CHRGD]

$116.00 / Yr seems like a good deal, but of course it depends on what they will cover. Ask your agent a "what if ", and find out how much they would pay.
I dropped my collision years ago. But I knew if I wrecked it, they would pay next to nothing because of the car's age, and I would rebuild it myself anyway. And it is not my daily driver, which makes a difference, too.
Also,
with the car's age, I think with many insurance companies, once you drop it you can Never add it back.
Things to consider. :biggrin:

 

[Quick6'n'-K.C.]

I just got done paying a ins bill, and there was a new clause in it saying that they will only pay 1000.00 for customized equipment... TOTAL 1000.00 for everything.

Off to find a new insurance company.

BW

 

[Warp6]

wow thats a lot of $$$.. I'd drop it and if it gets wrecked just junk it and get another one oh I'd take it off that old Vette to!!

I know it's not that much money. I just don't know how much an insurance company would pay if I knocked the front end off the car. Anyone have a clue what an insurance company would pay on this old car if I wrecked it?

 

[ngc414]

I know it's not that much money. I just don't know how much an insurance company would pay if I knocked the front end off the car. Anyone have a clue what an insurance company would pay on this old car if I wrecked it?

Every insurance company is different. Your comparing apples to oranges since most people on this board have various insurance companies. The best answer I could give you is Most standard carriers offer ACV (actual cash value). In this case they may go by blue book, retail or find comparable sales. It depends on the company and the adjuster. You could call your current agent and see what he has to say since he represents your insurance carrier. A stated value policy is a little better, but it does not guarantee you will get the stated amount, only up to that amount. The only way you will have a guarantee is if you write an agreed value policy. Most companies do not offer agreed amount. Specialty comapnies like Grundy or Hagerty do offer agreed value. I would highly reccomend finding a company that will write an "agreed value policy". I hope this helps.

 

[xcessiv6]

I have insurance thru Classic Collectors® - Welcome I have insured for $50,000
no deductable, roadside assistance, 4000 miles a year aloud and only cost $480 a year.

 

[jpwahler]

Insurance

I'm in the business and Hagerty, Grundy, etc. is the only way to go. Sometimes we get caught up on wrecking the car ourselves and think we don't need the collision, but what about the comprehensive coverage? What about an uninsured (typically judgement proof) driver? Thefts, vandalisms, animal strike, you name it.

Best way to shave the premium from quality agreed value insurance is to take a $1,000 deductible (usually the best bang for the buck).

Remember, Hagerty (my preference) or Grundy...ridiculously competitive, great coverage, you can't lose!

 

[rmar]

Just paid mine (Hagerty) 570 per yr, I believe.
Thats everything w 30k agreed value. Does that sound about right?

 

[Grumpy]

Best way to shave the premium from quality agreed value insurance is to take a $1,000 deductible (usually the best bang for the buck).

thats what we have done since 1986 with all my fleet:biggrin:

 

[blackmonte]

wow , I pay 400$ a year on mine full coverage I get to drive it 10,000 miles a year (only drive it maybe 1500 miles a year)and is covered for $35,000 , my Harley was also 400$ a year, insured for 12 months .I use State Farm I have been using them since I was 16 .A 1972 Amx was my first car that was 1984 .

 

[KevinB]

I have mine from the same company that does my life, home, and other car insurances. It's not much. I actually had to use it last year after I hit a freaking deer

 

[faster]

As stated before compare apples to apples.

I dropped collision because it only covers "collisions".

My comprehensive coverage covers theft, fire, animal, road debris and broken glass, etc.

Check your policy coverage so you don't pay for what you don't need. Most of us car guys have collison and painter guys and do most of the physical work ourselves anyway.

I use Cotton States Insurance (auto-home-life) because they pay replacement cost if it gets stolen or damaged (have your cars appraised every few years and they will honor that). I have had them for 25+ years and they have paid 6 claims without raising my rates. Some fool pulled out in front of my GS Stage 1 and I damaged the hood, hood trim, bumper and grill. They did not even send a claims adjuster just told me to find the parts, get the prices and get a bodyman's estimate to repair. I had the check ($2300.00) a week later.

Dad just wrecked his 96 LT-1 Cadillac Fleetwood (just good shape) with 116K miles and Cotton States gave him a check for $6250.00.
I could not believe it!

Mikey

 

[Steve V]

I don't like the restrictions in milage and where and when I can drive my cars that some companys have.

 

[SNOWBIRD]

My home and other car insurance just cancelled my GN coverage because they found that it was to modified (parts changed) and the evaluator put a 30,000.00 price on it ..( to high) does any one out there know of a company that I can contact ....montreal canada

 

[DJ Red Barron]

wow , I pay 400$ a year on mine full coverage I get to drive it 10,000 miles a year (only drive it maybe 1500 miles a year)and is covered for $35,000 , my Harley was also 400$ a year, insured for 12 months .I use State Farm I have been using them since I was 16 .A 1972 Amx was my first car that was 1984 .

My GN is insured with State Farm at the moment, too. Current value is set at $25k.

I recently got my agent to do some digging and ask some hypothetical questions. Basically it boils down to this. They will only pay for what is "stock" on the car. They will cover no "customization". And all of my GNX stuff would be looked at as custom since the car didn't come with any of it, not to mention all of the other "custom" things I have on the car or will add to it in the future.

So at the end of the day, if I had to make a claim, I will get what State Farm sees a stock '86 Buick GN being worth at the time and that will be that. Needless to say, I am switching to Hagerty probably this week.

 

[Roc87]

Hagerty is sounding better & better. I have the wifes caddy, the elky & the GN at AAA, and only have liability & comp on the GN, hasn't have collision in years. If I wreck it and it's my fault, I'll either repair it myself or it's it totalled, put the drivetrain in the elky! (Still got the vette, homeowners & two bikes with State Farm, vette with a $2k deductible....)