Insurance

[tmeekins]

I think I'm in the market to find new car insurance. Over the last year, my Farmer's insurance has been very quietly getting higher without me noticing, and now it's doubled twice in the last two months for no reason. They actually now expect me to pay $837 per month!!!! Only a year ago they were charging me $200 per month. This is for 2 cars.

So, anyone recommended any good insurers?

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Tim Meekins
1997 Yellow NSX-T
http://tmeekins.com

 

[Ojas]

Originally posted by tmeekins:
They actually now expect me to pay $837 per month!!!!

OMG! So Farmers is now in the business of screwing auto (in addition to home) policy holders!?!

Seriously, what does your agent have to say about the rate increase? Don't tell me it's due to the rock chip on the windsheild.

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ojaspatel.com/nsx

[This message has been edited by Ojas (edited 13 March 2003).]

 

[nsxtasy]

You can use http://www.insweb.com to get a quote from a number of companies.

The October 2002 issue of Consumer Reports has some good tips about how to shop for insurance. You can find it at your local public library.

 

[Zishan]

Dang, I'm 23 with full coverage on my 93 NSX and my 91 Teg for about $175 a month thru Allstate. I have one ticket and one theft on my insurance record as well. But then again, Im in Houston.
Good luck
Z

 

[NSXER119]

If you have a good driving record, I recommend you should go to AAA, I am only paying ~90 per month for my 92 NSX with $1,000,000 liability. (I have my house and other cars under the same policy, maybe that will be cheaper) However, you need to get to know one of the agents, and he/she will hook you up and giving you all kind of discount.
Good luck

 

[shiva]

I use esurance. Their web site is www.esurance.com My driving is not perfect and I had the best rates from these guys.

 

[nsxtasy]

Originally posted by shiva:
I use esurance.

Esurance is a one-company website for the White Mountains Insurance Group providing quotes for customers in 28 states.

Insweb.com provides instant and detailed custom quotes from nine insurers for customers in all 50 states plus DC. Insweb.com was ranked the best of the six auto-insurance websites described in CR.

Shop around.

 

[Black Knight]

To save you time, try Wawanesa.com. I've already tried esurance.com, insweb.com and others that you search on google and yahoo.

I didn't know about it until Vytas told me. I'm currently paying a little less than $200/month for my NSX and daily commuter. Vytas is paying much less for his two cars. I just called them yesterday and they'll be sending me a quote in the mail in a few days. I'll let you know how the rate is. They serve only CA and Oregon. I've heard very good things about them. Apparently, they've been around for over 100 years. The only requirement is that you're a good driver which all NSXers are.

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'98 Blue NSX-T

 

[Vytas]

I used to have 21st Century and paying nearly $1300/6mo for both my '91 NSX and '01 GSR with complete comrehensive & collision with $500 deductible. That's about $2600/yr and I live in Monterey. I have a perfect driving record and my rates just kept on going up.

My brother called Wawanesa, a Canadian company, and told me about it. They've been around for 100 years and well respected by the industry. I called them on two occasions and spoke with each rep for about a half hour drilling them on their coverage. They will insure you at the race track (driving school), autocrosses, "genuine" replacement parts and you can choose the shop to do the work. Great!

I got my quote of $1170/yr. and am completely happy! That's more than half of what I was paying before. They won't insure you if you have more than one point on your driving record. They emphasize this say that with this system, you don't wind up paying for other people's accidents with higher insurance premiums.

Check out their website for a quote at www.wawanesa.com and click the "Wawanesa - USA" link. Fill out a quick online form and you'll receive a quote in the mail. I'm glad I did.

I sound like a salesman for Wawanesa but I'm not. I'm so happy with this company that I want to spread the word.

[This message has been edited by Vytas (edited 13 March 2003).]

 

[tmeekins]

Unfortunatly, I got 2 points on my record last year.



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Tim Meekins
1997 Yellow NSX-T
http://tmeekins.com

 

[nsx_parts]

I am using Gieco. My insurance is under 100/mo loaded with features. The only thing I did to save money was to increase the deductable to $1000. I can do this as I own the car outright. If you are financing the car most banks require a maximum deductable of $500. I feel insurance should be used for catastrofic events. So small damage I will cover, and use insurance as a last resort.

I have no tickets, and no at fault accidents. I was rear ended at a stoplight last year in my Red 91, and the car was a total loss. My insurance rates have not changed in two years with the company.



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Please visit http://www.nsxparts.com. The best place to buy and sell parts for your NSX.

 

[NSX-00054]

State Farm

$1242/year multi car, with male driver under 19 years old.

 

[TyraNSX]

Beware of giving money to Geico. They bankroll a lot of anti-speeding, anti-radar detector studies & institutions.

 

[Andrie Hartanto]

Try Nationwide. I pay about $150 a month full coverage on 2 of them and my race car is liability only.

 

[9000RPMan]

I use Liberty Mutual here in the People's Republic of New Jersey. We have the absolute highest insurance rates in the country, and I pay almost $2,200 a year for my 95 with $1,000 deductables and 100 - 300 coverage. I have a clean driving record (well a few tickets, but as an attorney I had then changed to nonpoint violations ha ha ha professional curtesy). I do however have higher income continuation benefits and enhanced medical benefits, so I could save a few pennies by lowering those. I had a small rear end accident 2 years ago in my S2000, and the other driver's ins co paid all the bills. All in all I am satisfied with my ins co. I have no financial interest in Liberty Mutual, with the exception that I have been using them for 20 years.

 

[PoohBEAR]

i feel the same about farmer's. them fucker creeping up on everything thing....to include my home insurance....will definitely cancel tomorrow!!! sorry guys, i thought i am the only being screwed!!...but i am happy because everything will be canx.

 

[nsx4fun]

I agree with Andrie, try Nationwide.
My NSX is my daily driver and is running me $800/yr or $62/mo. That's full coverage w/ $500 deductable & $500,000 liability.

 

[nsxtasy]

Rates are going to vary with a lot of factors, so one person's rates are not necessarily comparable to another's.

Best bet, again, is to shop around.

With some companies, it may help if your homeowner's (or renter's) insurance is with them too.

 

[NSX 3.0]

I called 10 different places before I got my best rate at Allstate prices ranged from $1200 per year to Allstates rate of $600. That is with a clean record and a muti car dicount 45 years old.

Steven 91 Blk/Ivory

 

[ck]

Originally posted by tmeekins:
Unfortunatly, I got 2 points on my record last year.

I believe that Farmer's also has a policy against drivers with more than one point that severely increases your rate abruptly. I used to be with Farmer's as well, but had to drop them after my second point for the same reason. Most of the big names, AAA, State Farm, all have that policy. You will need to go through a brokerage service to find the best rate for you. There were many good suggestions in this thread.

 

[nsxtasy]

Originally posted by ck:
I believe that Farmer's also has a policy against drivers with more than one point that severely increases your rate abruptly. I used to be with Farmer's as well, but had to drop them after my second point for the same reason. Most of the big names, AAA, State Farm, all have that policy.

Not necessarily. As I understand it, most of the big companies do not check your driving record at renewal time, if you have not had any claims with them. Which, of course, means that they won't increase your rates if you have points. (However, points WILL matter when you apply for a new policy with a different company.)

Regarding large deductibles, it may or may not be worth it, but it's easy to figure out. For example, let's say the difference in cost between a $500 deductible and a $1000 deductible is $100. This means that you will break even either way if you have one claim every five years. If you think you will average less than one claim every five years, go for the higher deductible and save the money; if you think you will average at least one claim or more, get the lower deductible.

My general philosophy is to get higher deductibles, but it's worth checking; you may find that at a certain point, the savings are so small it's not worth it.

 

[nsx4fun]

nsxtasy (Hey, I spelled it right this time), is giving good advice here. But something he left out, if you are going with the minimum liability required by law, you may want to look at how much it costs to maximize your liability coverage. I think CA still only requires $30K/$50K for property damage and liability. If someone makes a claim higher than these amounts, guess who is going to be paying the amount in excess of your coverage.
Typically increasing your liability coverage is a relatively small increase in your premium rates.

 

[nsxtasy]

Originally posted by nsx4fun:
nsxtasy (Hey, I spelled it right this time), is giving good advice here. But something he left out, if you are going with the minimum liability required by law, you may want to look at how much it costs to maximize your liability coverage. I think CA still only requires $30K/$50K for property damage and liability. If someone makes a claim higher than these amounts, guess who is going to be paying the amount in excess of your coverage.
Typically increasing your liability coverage is a relatively small increase in your premium rates.

Yup. My advice was only regarding the evaluation of how high to set your deductible.

Liability coverage is another issue altogether, and nsx4fun is exactly right. The state minimums for liability coverage are generally set at a level to cover only a typical value of the other driver's car in the event of an accident. If he or she has serious medical expenses and/or "pain and suffering", you could be liable for a lot more. If you have an accident of some sort, you will be responsible for any damages or litigation award in excess of the amount of coverage on your policy. If you don't have much net worth, maybe that's not such a big deal, but just keep in mind that they can go after everything you own.

To give you an idea of what insurance companies consider a more appropriate level of liability insurance, many of them offer "umbrella policies" to protect you against lawsuits of any sort. Because such policies may offer secondary coverage beyond that of your automobile policy, they usually require minimum coverages in your auto policy, and typical minimums are $100K/$300K.

 

[Sketch]

Originally posted by NSXER119:
If you have a good driving record, I recommend you should go to AAA

I was shopping around since my rates with Allstate creep upwards every 6 months. I got a great quote from AAA...decided to get it, and they said "oh wait, the NSX is on the list of cars we don't cover. Sorry!"

It may depend where you are, I believe AAA has different divisions for different parts of the country. Here in FL, it's "AAA Auto Club South".

 

[ck]

Originally posted by nsxtasy:
Not necessarily. As I understand it, most of the big companies do not check your driving record at renewal time, if you have not had any claims with them. Which, of course, means that they won't increase your rates if you have points. (However, points WILL matter when you apply for a new policy with a different company.)

I agree that it may not be policy to check records when renewing, but it did happen to me and I have never had a claim in my life. I also know others who this happened to. Maybe they check every few years or so?