does anyone use geico insurance

1997 nsx ,insured by hagerty now{7 yrs,stated value 35k},all my other cars are with geico . geico will not tell me what a total loss would be until it happens .they also recommended modern insurance however they stated i can't take car to work . should i just stay with hagerty and raise stated value.

I've had Progressive, and currently Geico. Yeah, good luck trying to get them to disclose those amounts. I rotate through all of my vehicles whether work, errands, car events, scenic drives, etc... I'm pretty certain I fall outside the scope of any collector car insurance; even though some of the vehicles only get driven a couple hundred miles per year.

However, my rates are far cheaper with both Geico and Progressive than any collector insurance with agreed coverage at fair market value, which leads me to believe the total loss is probably quite low.

It would be nice if I could do collector coverage, then I wouldn't waste so many weeks of my life sitting in the emissions testing queue.

i have Geico insurance for my NSX, truck, and 7 streetbikes. no complaints at all. excellent rates, and the NSX is insured for $100,000 replacement value...

fastaussie said:

i have Geico insurance for my NSX, truck, and 7 streetbikes. no complaints at all. excellent rates, and the NSX is insured for $100,000 replacement value...

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how did you get that coverage,

just rang them up on the phone...

Thanks for reply ,will call them back up and ask raising coverage. I had nationwide for 40 yrs ,they had my business ,house ,cars ,snowmobiles ,trailers ,umbrella policy ,no claims or tickets {me and wife} premiums just kept go in up . wife got fed up and agent suggested Geico ,premiums cut in half . Its time for renewal on nsx and she suggested calling Geico , they were considerably cheaper {multi car discount ,I have more cars than I can drive } I'am not shopping for cheap insurance just want to make sure car is covered .

ralph cerbone said:

Thanks for reply ,will call them back up and ask raising coverage. I had nationwide for 40 yrs ,they had my business ,house ,cars ,snowmobiles ,trailers ,umbrella policy ,no claims or tickets {me and wife} premiums just kept go in up . wife got fed up and agent suggested Geico ,premiums cut in half . Its time for renewal on nsx and she suggested calling Geico , they were considerably cheaper {multi car discount ,I have more cars than I can drive } I'am not shopping for cheap insurance just want to make sure car is covered .

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Funny,,, I too am fed up with Nationwide after 21 years.....all insurances are increasing to the point I have to switch....I'm going to try state farm...

I have GEICO. I do not have a named value policy, though. I'll fight that battle if it comes, I guess. Besides good rates, their language is _seemingly_ friendly to accidents on track: "To bodily injury or property damage caused by an auto driven in or preparing for any, racing, speed or demolition contest or stunting activity of any nature, whether or not prearranged or organized." Hope I never have to test that theory.

robertcope said:

I have GEICO. I do not have a named value policy, though. I'll fight that battle if it comes, I guess. Besides good rates, their language is _seemingly_ friendly to accidents on track: "To bodily injury or property damage caused by an auto driven in or preparing for any, racing, speed or demolition contest or stunting activity of any nature, whether or not prearranged or organized." Hope I never have to test that theory.

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"Named value" or "stated value" policies (State Farm, Geico, etc) are different than "agreed value" policies (Grundy, Hagerty, etc). No matter what you think your named value or stated value is at the time, you won't know what the insurer will pay you until the accident happens. Bottom line is that you can expect some haggling as opposed to the agreed value policy.

I have one State Farm "stated value" policy for a collector vehicle and my NSX has a Grundy agreed value policy.

My Brother teaches for the Porsche Racing School. He turned me on to his agent. I now have Encompass for my home and 4 cars. I would highly recommend him and you can tell him Ken Morgan referred you. I did not want to take a classic policy that would limit my miles driven. They have a value for my car that keeps increasing each year. Here is his information:

Paul Taeschler
Paul Taeschler & Associates
Work - (908) 789-1155
Cell - (908) 358-5188

i had progressive for almost 10 yrs. Just recently switched to Hagerty collector car insurance to an agreed value of $45k (95 nsx-t fairly stock). it was $200/year cheaper than progressive AND an agreed value whereas progressive wasnt specific and they just told me "depends but close to kbb estimate". i loved progressive for all my past cars but they couldnt provide the coverage i wanted for the nsx. I'll probably raise the agreed value of my nsx to hopefully $50k-55k next year after i clean up the car some more. no claims, no tickets, decent zipcode, 38yr old male.

robertcope said:

I have GEICO. I do not have a named value policy, though. I'll fight that battle if it comes, I guess. Besides good rates, their language is _seemingly_ friendly to accidents on track: "To bodily injury or property damage caused by an auto driven in or preparing for any, racing, speed or demolition contest or stunting activity of any nature, whether or not prearranged or organized." Hope I never have to test that theory.

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May want to double check your policy. Most likely the excerpt above is from the Exclusions section. Not covered.

Jefe said:

May want to double check your policy. Most likely the excerpt above is from the Exclusions section. Not covered.

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Where did you think I got that quote from? My policy. Here's the latest thread discussing this at TrackJunkies, FWIW: https://www.trackjunkies.org/topic/4521-geico-policy-language-with-regards-to-racing/

Jefe said:

May want to double check your policy. Most likely the excerpt above is from the Exclusions section. Not covered.

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That was in the exclusions section. The question is whether or not a HPDE falls into those GEICO categories....

Mac Attack said:

That was in the exclusions section. The question is whether or not a HPDE falls into those GEICO categories....

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Not sure what you mean. These words are not defined anywhere in the contract. So, yes, they could try and claim and HPDE was a contest of some kind, but I think they would ultimately lose that argument. If you go to the thread I linked to earlier, you will see that at least in one case they paid out, though it took some effort.

At this point the discussion is a bit academic. We can go back and forth all day long, but ultimately, until a claim is filed we won't know how GEICO could handle it. We know they've dropped people for having driven their car on track and we know they've paid to fix on-track accidents and not dropped the person. That's a big range of possibilities.

when does the BS end. Finally got to talk to a manager at Geico ,she explained different states have different procedures and in ny they can not tell me the total coverage until the vehicle is lost .So i guess i stay with hagerty {my agent is good guy and well known in the westchester co. community }and i raise the stated value ,done enough of this nonsense . heres the best story with nationwide ,my son has our car vandalized in a parking lot outside a local bar , file police report and they tell me they think they know who did it but have no visual proof {small town everybody knows everbody's business.}Nationwide sends claims adjuster and i get a check for 3000.00 Two weeks later police come to my house with a check for the damage ,turns out kid that damage car was in my wife class ,known his father for 45 yrs ,I would never press charges ,just want car fixed and get back to my son in college. Now the fun begins my attorney tells me i have to return the check to nationwide or i would be guilty of filing a fraudulent claim,no problem iam not playing games . It took me 1 1/2 days to get nation wide to tell me what to do with the check . First person I talked to was confused when I told her what I wanted to do , then a manager in syracuse ny had me meet the claims adjuster at the body shop , he took the check ,tore it . Meanwhile all thru this BS my wife is telling me ,F::k the attorney , F::k nationwide we pay them enough money . Six months later they raised my premium ,MOM is always right LOL.

ralph cerbone said:

...meanwhile all thru this bs my wife is telling me ,f::k the attorney , f::k nationwide we pay them enough money . Six months later they raised my premium ,mom is always right lol.

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lol!!

I have GEICO, they told me like other said they will pay market valie/kbb. I'm fine with that as it seems they are keeping up with price trends.

Have you looked at KBB values? KBB values my car at $21-$26K. I couldn't accept that for a total loss...

For those with Haggerty, what was your annual premium for the NSX?

$1024 per yr ,35 stated value , which i plan to raise .

I just got Hagerty and am paying $1650/year for an $80,000 stated value on my highly modified 92'. I also only do 2k miles a year.

I switched from Hagerty to Grundy about four years ago because of the sudden jump in rates. Hagerty went from about $450/year to $1k/year.

I'm pretty sure I pay Grundy ~$425/year for an agreed value policy of $60k on my '92. $500 deductible or something like that.

i just renewed the policy on my 2002 NSX last week. $418 for 6 months, $500 deductible with all the goodies (uninsured motorist, all the high coverages, etc). $100,000 replacement cost.

my Ford Eff Hundred and Fifty is also on the policy. along with way too many Italian bikes and homeowners insurance. i love Geico, they're fantastic...

As far as from what I read Geico does not do replacement cost, they call it "stated value" but it is not the same as "agreed value" that the collectors car insurance offers.

But if you do say it is a for sure 100k replacement cost than that would be great.

fastaussie said:

i just renewed the policy on my 2002 NSX last week. $418 for 6 months, $500 deductible with all the goodies (uninsured motorist, all the high coverages, etc). $100,000 replacement cost.

my Ford Eff Hundred and Fifty is also on the policy. along with way too many Italian bikes and homeowners insurance. i love Geico, they're fantastic...

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