collector car insurance

[topsailor]

I'm concerned that my insurance company is charging less for my 2005 NSX than they are for my 22 Hyundai worth about a third as much. Has anyone had any claims on a newer 1st gen.

Thanks Tony

 

[docjohn]

what agency? what state, how old are you?

 

[BmanNSX]

Gonna tag along this thread because I’m on the same boat. When I got my quote, found it odd how inexpensive it was, but I don’t know if it’s normal or if nsx’s aren’t expensive to insure..

 

[Honcho]

It's normal due to the mileage and usage restrictions inherent in the collector policies. Statistically, you're not driving the car enough to have a high risk of loss.

 

[Dice]

Living in another country, but insurance companies make the same calculations: it's not about the value of the car, it's about the costs for the humans involved. These can easily be 10 times bigger than any car.

And a modern DD will statistically be involved in more accidents than your precious collector car.

 

[topsailor]

what agency? what state, how old are you?

Geico I'm a senior clean record 422 for 6 months

 

[topsailor]

The issue is they will only pay based on original msrp I'm changing over to the agreed value policy at 125000 for 466 for 6 months not much more for a lot better coverage My car ia a red 2005 with 66k on the clock it's not a garage queen. I didn't buy it to just look at. I raced SCCA Production alfa romeos then as I got older switched to a legend cars and enjoy driving with a bit of spirit.

 

[Honcho]

125000 for 466/6mos sounds about right. Remember most collector policies do not cover track time, so if you are still doing that, you'd need to buy separate insurance.

 

[ajmr2]

State Farm for everything we own. Clean record in spite of my SCCA racing history!
Once I had our 2 toys professionally appraised I was able to submit the info and photos for "agreed value" driven under 5000 miles per year. I'm able to adjust the numbers as the values go up, which I will do again in 2023. They no longer offer a discount for not being driven during 6 month winter storage, however...
Go figure:
1995 NSX $75000, $198 per 6 months, "limited use antique/classic"
2006 S2000 $42500, $326 per 6 months, limited use antique classic"

 

[RPM217]

I don't have the vehicle breakdown handy, but I have 4 cars on my Travelers Policy, a 2002 NSX, 2005 Ford GT, 2019 E53 Convertible and a 2017 BMW X1, a $1,000 deductible full "market Value" coverage is $3,585 for 12 months. I'm sure that it's going to rise come renewal in June. clean driving record, no claims past 9 years, senior citizens.

 

[topsailor]

Just switched to State Farm good company I feel safe with. Gave me a 125000 agreed value policy with 500 ded comp and collision 100/300 liability for 466 6 months.

 

[Stkpikr]

I'm concerned that my insurance company is charging less for my 2005 NSX than they are for my 22 Hyundai worth about a third as much. Has anyone had any claims on a newer 1st gen.

Thanks Tony

State Farm regularly charges me less on my 2018 NCI, than my wife's 2019 Mazda 6. Both clean records and no restrictions.

 

[BmanNSX]

Looking at this thread makes me think what my insurance carrier (Allstate) values my cars. I don't have an agreed value policy with them.. I'd hate to have an accident and they only offer 1/4 of the value of the car..

 

[neoprufrok]

I use Hagerty. They have agreed upon value. Was fast and convenient. I’ve had a few friends need to make a claim through them and it was nice.

 

[Superhatch]

I use Hagerty. They have agreed upon value. Was fast and convenient. I’ve had a few friends need to make a claim through them and it was nice.

Same. Farmers insurance uses them for any classic they insure and I've had no complaints about them.

 

[esqu1re]

This thread is making me re-look at insurance. Insurance for the NSX is slightly less than that of my CRV. Granted, I stated that I would drive the car for less than 3,000 miles a year. Nonetheless, I think for people in our boat, if we total the car, it could be a crapshoot what the insurance company will pay out. This is where agreed upon insurance comes in. For the amount at which I want to insure the NSX, it is about $200 more every 6 months based on a "instant-quote" from Leland West.

 

[docjohn]

westfield who I have an umbrella policy with will only insure the new nsx for what I payed...hagerty wants to see me have 1 year of ownership under belt before they will insure based on agreed value of x

 

[TxGlenn]

I use Grundy and it is around $700 a year for unlimited miles and a $90k agreed value.

 

[ShawnOT]

I don't know what I'm doing wrong but I'm paying almost $1,800/yr for American Collectors. 2003 with an agreed value of $107,000 (which I should probably increase). I shopped around and Hagerty and Grundy were even more expensive than that. I'm 38, with no prior accidents or major claims to speak of.

 

[docjohn]

38=too much testosterone....

 

[ShawnOT]

38=too much testosterone....

Hahaha

 

[Superhatch]

38=too much testosterone....

I think you have to crest 40 before the rates start getting better.

 

[docjohn]

insurance companies base their premiums by how many times you get up to go pee at night...

 

[Superhatch]

Also something we haven't talked about is coverage, state mins, etc.

Grundy quoted me 325/year for 50k value on my 1992 NA1 but it was for WI state minimums which is 100k/100k/10k. I pay 900/yr with Hagerty but I carry 500/500/250 because I don't want my family to hung out to dry with medial bills/uninsured dirver/etc especially driving a 30 year old car with minimal safety features/design.

 

[esqu1re]

I don't know what I'm doing wrong but I'm paying almost $1,800/yr for American Collectors. 2003 with an agreed value of $107,000 (which I should probably increase). I shopped around and Hagerty and Grundy were even more expensive than that. I'm 38, with no prior accidents or major claims to speak of.

I am similar age and have a 2003. I was shopping Leland West and their online quote for 120k agreed upon value at 3000 miles was around 900 / year. They haven't called me back yet, so I don't know how real this number is yet.