Need help with insurance...

Discussion in 'The Garage' started by Cpotts13, Jun 21, 2015.

  1. Cpotts13

    Cpotts13 Well-Known Member

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    Alright I feel like my insurance is taking me for a ride...

    What I want: Agreed upon value of $17k, roadside.. I drive less than 5k a year, i'm 20, military, car is stored in a garage.

    What I have: No agreed upon value (does not have option for specific model, uses regular GT), $1000 deductible, $1300 per 6mo.


    I currently have USAA, who else should I be looking at? Who do y'all use?
     
  2. Sinned83

    Sinned83 Well-Known Member

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    Auto insurance sucks. It'll get better once your 25+. Maybe you can look into some of the specialty companies since you drive so few of miles. I use geico and I pay about the same as you with all 3 of my cars full coverage.
     
  3. Cpotts13

    Cpotts13 Well-Known Member

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    My main qualm is that they do not have an agreed upon value for my car, they quote it as a GT, even with my vin provided.. If something terrible was to happen and it was a total loss, would they try to give me the value of a GT?! My monthly payment for my car and my wifes 2014 Optima SX, both full coverage, rentals, towing etc is $220 mo..
     
  4. Sinned83

    Sinned83 Well-Known Member

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    That's odd mine is noted as a Mach 1. Have you spoke to them about it
     
  5. the5.ohh

    the5.ohh Legend

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    Get that changed asap dude. If God forbid something happens and the car is stolen or totaled, you're ****ed. That might even be against the law, idk if I'm right about that.
     
  6. DeepList

    DeepList Administrator Admin SN95 Supporter

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    I'm with Progressive and have been with them for over 10 years (emerald membership) no accidents or tickets in 6+ years. Married. Age 29. Homeowner. Multi-policy. Multi-vehicle. I pay $96 every 6 months ($16 per month) for the red cobra. I have full coverage (comp+collision) which includes coverage for uninsured/underinsured motorist and a $2000 deductible.

    The "agreed upon value" is a rip off unless you can convince them to make you a custom quote, which most places won't do because they just want to plug the VIN into their system, along with your personal info, and create a cookie-cutter policy. Without going to a specialty insurance company, the only way to get the "value" of your car up above what their computer system is going to tell them is to have them put in a value for "Custom Parts and/or Equipment." The downfall to this is that you have to have receipts and/or documentation to back up what you're saying. Luckily I have the documentation for all of the stuff I've done to the car, so they're showing a value of $14k for it on their end.... otherwise, without the custom parts and equipment, their system is telling them the car is only worth around $8k.
     
  7. 1998cobrasvt

    1998cobrasvt Well-Known Member

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    Hagerty will take care of you. Give em a call.
     
  8. DropTopPony

    DropTopPony Administrator Staff Member Admin SN95 Supporter

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    You aren't going to get much relief at 20 no matter what you do. Insurance industry considers everyone under 25 an extreme risk so at 25 you get your first break in rates. I remember paying almost $300 a month at your age :(
     
  9. mcglsr2

    mcglsr2 Well-Known Member SN95 Supporter

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    When I had my CSX insured I had done it through Grundy with an agreed upon value of $10K I think (or something around that). I drove it very little and it was garaged. I want to say it was like $130 PER YEAR. I never had a claim so I can't speak to how well they covered me in a pinch. It also wasn't my daily driver.
     
  10. Cpotts13

    Cpotts13 Well-Known Member

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    So I do have an update, hagerty wouldn't insure me because they require the minimum age to be 25, geico for me would be $300 for just my car... :shocked:

    So I called USAA to figure out what the heck the deal was. Turns out the vin for all Mach 1's comes up as a GT mustang, so they were not individually vined like cobras. The adjuster stated that although it is registered as a GT, if something were to happen the adjuster would actually do actual cash value of a Mach 1. Plus $2000 for modifications w/ receipts and 20% extra cash (option I chose on my policy).

    I feel like that is a bit of closure.. :slowclap:
     
  11. 1998cobrasvt

    1998cobrasvt Well-Known Member

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    Didnt know that was hagerty's policy.They have great rates. Geico can eat sh** trying to charge you that much! At 25 try hagerty again their prices and policies are great for our cars. Glad you were able to find some closure.
     
  12. DropTopPony

    DropTopPony Administrator Staff Member Admin SN95 Supporter

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    When I worked in the car biz USAA was hands down the best insurance company my customers used. They used to rave about them all the time.
     
  13. lwarrior1016

    lwarrior1016 Moderator Staff SN95 Supporter

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    ^That's true, I also have USAA and they are great to me.
     
  14. mcglsr2

    mcglsr2 Well-Known Member SN95 Supporter

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    Duly noted ;)
     
  15. D3VST8R96GT

    D3VST8R96GT Well-Known Member

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    I have nothing good to say about USAA.

    They screwed me on one of my trucks. So I abuse my roadside assistance. After 1 tow a year on each vehcile i get my money back .... great if you need a DD lol. Geico is pretty good and used them previously.
     
  16. SCHNAKE

    SCHNAKE Member

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    Progressive is owned by George Sorros who funded Obama's campaign so I will never do business with them. I have a 94 Cobra with $30k stated value with no milage restrictions. Give J.C. Taylor Insurance company a call at 1800 345-8290 my premium is $500 a year but I'm old.
     
  17. DeepList

    DeepList Administrator Admin SN95 Supporter

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    No they're not.
     
  18. 97stanger

    97stanger Legend

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    Look into Grundy, Haggerty, or American Collectors. You're kind of stuck with higher pricing due to your age and risk, but your best bet is to shop around. Agreed value is the way to go. These cars don't hold any value and the older they get in an insurance companies eyes you will only get the ACV which will be a joke.
     
  19. 97stanger

    97stanger Legend

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    And Progressive is not owned by George Sorros lol
     
  20. 3.8L_Aaron

    3.8L_Aaron New Member

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    When I turned 18 I paid $22 per month for my car lol that was with allstate