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I recently had may State Farm agent stop over the house to take pictures of my 3 Corvettes for insurance documentation.
While there I asked him why some policy holders (State Farm and others) can not suspend their liability during the winter no driving months?
He told me it is very simple in most cases, the agents don't want to loose the commission $$$.
He said I had 6 cars, my house and a umbrella policy with him and why screw me out of a few dollars since I pay plenty on my other policies.
That's why a good agent is important.
Bruce B
BS - Find a new agent. I suspend the coverage on my two late model Corvettes from Dec till about April. I have Amica, never a problem.
Bruce why don't you have collector policies on some cars with Hagerty or others. I wouldn't trust State Farm. Hagerty has zero deductible and you can use the shop of your choice.
BS - Find a new agent. I suspend the coverage on my two late model Corvettes from Dec till about April. I have Amica, never a problem.
Bruce why don't you have collector policies on some cars with Hagerty or others. I wouldn't trust State Farm. Hagerty has zero deductible and you can use the shop of your choice.
I do suspend my coverage with my State Farm agent.
I don't use Hagerty or others as the price from State Farm is excellent and so is the service.
My Grandson has State Farm and they treated him excellent on his 83 Mustang.
I have NCM and I believe if you check with them, they only charge liability on one of our two classics as we can't / don't drive both at once.
Correct me if I am wrong Adam.
Make sure your cars are covered if stolen and crashed into another car by and uninsured driver. That's the one reason I carry coverage year round. The other is our house insurance does not cover the cars for fire or theft without a separate rider which is more expensive than the car insurance.
My Grandson has State Farm and they treated him excellent on his 83 Mustang.
I have NCM and I believe if you check with them, they only charge liability on one of our two classics as we can't / don't drive both at once.
Correct me if I am wrong Adam.
Make sure your cars are covered if stolen and crashed into another car by and uninsured driver. That's the one reason I carry coverage year round. The other is our house insurance does not cover the cars for fire or theft without a separate rider which is more expensive than the car insurance.
Bingo.
I love it when people try to shave a few bucks off the cost of owning these cars and don't realize they are rolling the dice against incurring a major loss...
Last edited by Frankie the Fink; 06-02-2017 at 02:40 PM.
I have a friend who lives in a very large old house in Cincinnati and his garage is under the house which is built on a hillside.
He was on vacation came home and someone crashed through the garage door, knocked over his Harley and pushed his old Corvette into his Porsche. Lots of damage.
When I suspend coverage it is for the liability which is the greatest cost of coverage. I still carry comp, which covers fire, theft, etc.
Biggest cost of insurance is the liability. That's why the collector coverage is superior. You only pay for liability once no matter how many cars on your policy. If you are paying liability on each car you are getting shafted.
I use the Corvette Museum and they beat Hagerty by almost half. They insure my challengers, Trans Ams and Corvettes. Being in Arizona I don't have to worry about suspending anything in the winter as we drive year round here.
You need a new agent. State Farm has very little (none?) understanding of speciality insurance. You need an agent that knows the difference between a Pontiac GTO and a Ferrari GTO.
I've found that a lot of insurance is governed by State laws so I don't want to unreasonably bash State Farm but I just this month left them after carrying 3 daily drivers with them for 3 years. They promised me a 20% discount on my home owners if I switched my vehicle coverage to them and after years of resistance I finally gave in. They just kept going up and up until after a couple of years the 20% was wiped out. And then my wife had a minor backing accident when city crews had a street blocked and told her to back out of the neighborhood. She scraped the door of a workers van parked on the narrow street. First accident she has ever been responsible for and first ticket in her life and not too surprisingly State Farm really jacked our rate up for this periods renewal by taking her good drivers discount away.
So I went back to the carrier I had for the previous 40 years and saved $700/yr to switch back which will way more than make up for the additional jump on my homeowners now. SF just didn't make sense - the same three vehicles value kept decreasing every year and yet they kept charging more and more. My old carriers rates were actually less than when I dropped them 3 years ago - which they should be as the collision and liability on them should be going down due to depreciation. When I disclosed my wife's accident and ticket (which was judiciously buried and not recorded) my new/old carrier laughed and said that sounded a little harsh and wasn't their practice.
If you have good experience with State Farm on a collector car - who can argue with that. But I would sure keep a wary eye on them.
But, I still can't find anyone locally who can compete with State Farm for my home owners. I got one quote and it was actually 400% more. The salesman asked how does that sound? I was speechless and couldn't answer for about 5 seconds.
Last edited by DansYellow66; 06-03-2017 at 08:01 AM.
As I've said many times, I wouldn't insure a golf cart with State Farm, homeowners in Florida after the bad 2004 hurricane season were dropped by this company because they couldn't maintain their insurance 'reserves'. Folks were left in a lurch and had to switch to the state run insurance carrier as others wouldn't pick them up and the premiums were outrageous...
As I've said many times, I wouldn't insure a golf cart with State Farm, homeowners in Florida after the bad 2004 hurricane season were dropped by this company because they couldn't maintain their insurance 'reserves'. Folks were left in a lurch and had to switch to the state run insurance carrier as others wouldn't pick them up and the premiums were outrageous...
I've had homeowners with them for about 34 years and 3 or 4 minor claims - replacement of roofing for hail damage the biggest one. They have been good on response to me - but it may vary State by State and they rely on local agents which can also vary widely in responsiveness I would guess.
But down there on there on the coast, you guys have a whole another whole level of home insurance issues, weather issues and loss issues to contend with.
Many State Farm agents don't understand (or sell) "agreed value" classic car coverage, as State Farm only offers it in certain states; in states where they do write "agreed value" classic car insurance, they're quite competitive.
I was with AAA for daily drivers since I was kid and after owning a home had HomeOwners. My agent with AAA (for 30 years) gave me a inside tip to go with 2 credit unions over the years for a good group discount. He retired and I found my insurance creeping up and no tips from the new agent. Did some research and found a better deal with Allstate for the daily drivers and homeowners but Michigan is a killer for auto insurance rates (they suck). I have found Adam of NCM agency to be the best for the classic cars.
There is a current thread on OT about homeowners insurance rates for Florida residents and I almost had to call 911 for EMS. Yikes!!!
Not to change the subject from throwing rocks at State Farm, I was just informed by my Farmer's agent that Farmers/Mid Century won't be offering "antique car" insurance policies any more. They are going to represent Hagerty as a broker.
Not to change the subject from throwing rocks at State Farm, I was just informed by my Farmer's agent that Farmers/Mid Century won't be offering "antique car" insurance policies any more. They are going to represent Hagerty as a broker.
I had collectors Ins thru Farmers also, but found it was not an agreed value as the agent insisted it was.
If they are going sell Hagerty, why can't you get a better deal by going direct??? Unless you are really in love with your agent.
I had Hagerty and dropped them to go with Farmers / Mid Century. After reading the policy which didn't reflect the Ins salesmen's word, did some research and went with NCM as they beat everyone (5 companies) in coverage and price for the area I am in and the coverage that suits our needs.
I can only recommend that you shop around. Adam's people (NCM) are great and will answer all of your questions, even when he is on the GOLD COURSE.
My insurance for our C1 Corvettes was up for renewal last Friday. I got the bill in the mail from Farmers and I renewed (paid) on line. I was trying to insure a restored '64 Bug I just picked up from the original owner a few days ago when I got the word that they won't be insuring it or the Corvettes. The annual premium on the Bug with Hagerty is $154.
My insurance for our C1 Corvettes was up for renewal last Friday. I got the bill in the mail from Farmers and I renewed (paid) on line. I was trying to insure a restored '64 Bug I just picked up from the original owner a few days ago when I got the word that they won't be insuring it or the Corvettes. The annual premium on the Bug with Hagerty is $154.
Nice VW, I had a 67 a few years ago and would like to find another one. Midwest and east coast VW's have major rust problems.
All the good ones are in CA.
Bruce B
06-02-2017, 11:34 AM
Insurance Info.
