Agreed Value insurance on a 100 series

[mitchjohnson000]

Having seen numerous horror stories about 100's getting totaled only to get a small check from the insurance company, I've started shopping for different plans. Seems like the only way to get accurate market value for a 100 series is via collector car insurance. I just got a quote from Safeco to insure my 1999 southern owned stock 100 series @ 13k agreed value. They crunched the numbers and gave me $950/yr with full coverage and a 10k mileage limit. This seems more than fair to me, just curious what you guys are doing for insurance, especially in this crazy 100 series market.

 

[clrussell]

Watching

 

[GreyWhaleCruzin]

I need to call Geico and add all my aftermarket bits. The only issue is that Nevada has incredibly high auto insurance rates. Even compared to Cali prices. I'm dreading that phone call to see what my new rate will be. May need to shop around and compare or switch. I left Ameriprise (thought Costco) after 20 years. They couldn't beat Geico in NV.

 

[MongooseGA]

Also watching. I'd like to insure mine for between 40-50k.

 

[mitchjohnson000]

The problem is that most collector car insurance policies will not cover daily driving. Hagerty looks appealing but they don't let you drive your truck, basically has to sit in a garage year round. Safeco is the only one I could find that would cover normal use. The actual agreed value doesn't increase premiums by much. You could crank it up to 30k and it would cost more, but no more than any other 30k vehicle.

 

[ramangain]

I'm not sure listing your yearly premium cost without listing the options selected and what deductibles makes for much of a comparison.

 

[mitchjohnson000]

I'm not sure listing your yearly premium cost without listing the options selected and what deductibles makes for much of a comparison.

$750 deductible. I'm not sure what you mean by options; it's full coverage. 500k liability, collision, uninsured motorist, windshield, theft, damage from non-collision.

 

[MongooseGA]

$750 deductible. I'm not sure what you mean by options; it's full coverage. 500k liability, collision, uninsured motorist, windshield, theft, damage from non-collision.

Accident forgiveness, loaner car reimbursement, tow services, etc?

What did you need to do to prove value?

 

[mitchjohnson000]

No tow services...although I already have AAA. No loaner. Didn't need to prove value, I just said I want it insured for 13k with 10k mileage limit. No other restrictions on use. They won't cover offroad damage but thats to be expected.

 

[MongooseGA]

No tow services...although I already have AAA. No loaner. Didn't need to prove value, I just said I want it insured for 13k with 10k mileage limit. No other restrictions on use. They won't cover offroad damage but thats to be expected.

Ah, that's something to consider. My current provider does cover off road damage.

There's a conversation to be had about making off road damage claims, I suppose. A little ding or scratch here or there, nah. Roll it over, yeah, I want that covered.

 

[mitchjohnson000]

My current provider, state farm, doesn't cover off-road damage so I'm leaning towards going with Safeco. I don't drive more than 5k miles per yr on the 100 but it's in such good condition I feel nervous driving it without agreed value.

 

[MongooseGA]

My current provider, state farm, doesn't cover off-road damage so I'm leaning towards going with Safeco. I don't drive more than 5k miles per yr on the 100 but it's in such good condition I feel nervous driving it without agreed value.

I don't blame you. Even a mint 100 can be totalled very quickly after a minor incident.

 

[mitchjohnson000]

I'd be curious to see what they would quote you for 40k agreed value. They didn't say anything about market value restrictions i.e. we will only cover you for 5K over market value. But if you go for a high number they might say something...

 

[MUDZLLA]

Body Armour is the best Insurance...

 

[awesomeissquid]

Ah, that's something to consider. My current provider does cover off road damage.

There's a conversation to be had about making off road damage claims, I suppose. A little ding or scratch here or there, nah. Roll it over, yeah, I want that covered.

Who do you use that covers off road damage?

 

[mitchjohnson000]

Body Armour is the best Insurance...

Against offroad obstacles I agree. Distracted drivers? Not as much.

 

[planomateo]

I use Grundy for my older rigs. I have no mileage restrictions. Under $400/year for $55k coverage I believe.

Must be parked in a garage nightly is the only downside.

My insurance agent said he can compete with Grundy, I've just never inquired.

 

[mitchjohnson000]

Grundy doesn't support daily driving according to their website. I was going to get a quote from them until I read that.

 

[planomateo]

I need to shop them again actually. Hagerty vs Grundy vs Chubb and see what options/riders they have.

Believe Hagerty has less restrictions, more riders, more expensive. Have heard good things about Chubb, but haven't inquired.

 

[Indestructable]

I just requested a Grundy insurance quote which came to $361 a year with 500k/500k liability, $500 deductible, $20k value. It's been sent to underwriting and we'll see what comes back. This is for a 1998 Toyota Land Cruiser that we will have parked at our vacation rental property, so it will be rarely driven. I just want to have enough coverage to buy another Cruiser if someone hits me and the vehicle is totaled, since the book value isn't as much as what the component parts actually cost. Is that enough coverage to purchase a like replacement?