Do these insurance quotes look right?

Car is a 2001 Diablo 6.0 ... for the agreed value, I am using $200k (cost to buy car, paint, etc to duplicate my car) ... estimated driving around $4k miles per year ... clean driving record ... etc

 

Filling out the 'get a quote' (hagerty.com) returns $4,800/year with liabilities half that of what I currently have with State Farm and a $0 deductible.

 

Working with a local insurance broker for Chubb/Hagerty/Safeco etc who was recommended to me by a guy owning almost 2 dozen cars, I am quoted $3,700 (Hagerty) with liabilities equal to what I have now with State Farm and a $0 deductible.

 

The broker didn't even tell me what Chubb was because the quote came back really high!

 

With State Farm, I am $1,300/year and $250 deductible.

 

Are those numbers for 'agreed value' insurance normally that high when only shopping around 1 car? I know it is best to have all your policies in one place to maximize the discounts.

 

USAA supposedly has 'agreed value' but I haven't reached out to them yet.

 

The only reason I am shopping around is for 'agreed value' compared to State Farm's 'stated value'. I am just concerned that in a total loss, State Farm will try to pay out as little as possible. I was told by my State Farm agent that if you have an appraisal done to get 'stated value', that they will pay out the value of the appraisal in the event of a total loss. I doubt an appraisal would come back at $200k though.

no offense but you are over pricing your car imo and that's why there is a large premium. take a look at roy's 6.0s. neither are 200k. i understand yours is VI which is custom but that's good/bad depending on who you talk to right?

 

basically, someone can get agree value, destroy the car and make a 50-60k profit.

 

i have found state farm to be very reasonable with payouts. they use an independent appraiser with higher end cars. when i totalled a porsche a few years ago, i didn't even ask for more because i know it's above market.

 

you can also try liberty mutual or just ask state farm what premium is for an agreed value policy. i am sure it won't be cheap compare to what you are paying

The deductible is so low there is no choice but to have a high premium.

no offense but you are over pricing your car imo and that's why there is a large premium. take a look at roy's 6.0s. neither are 200k. i understand yours is VI which is custom but that's good/bad depending on who you talk to right?

 

basically, someone can get agree value, destroy the car and make a 50-60k profit.

 

i have found state farm to be very reasonable with payouts. they use an independent appraiser with higher end cars. when i totalled a porsche a few years ago, i didn't even ask for more because i know it's above market.

 

you can also try liberty mutual or just ask state farm what premium is for an agreed value policy. i am sure it won't be cheap compare to what you are paying

 

Thanks for the feedback. I figured my pricing was high and was calculating based on the cost to duplicate my car ... repaint in VI, rebuild transmission for SE gearing, etc.

The deductible is so low there is no choice but to have a high premium.

 

I wasn't even asked about a deductible ... the broker just stated the policy would be $0. I thought that was standard for agreed value insurance.

Interesting point on deductible of an agreed value policy. I guess a $1000-2000 deductible would lower the premium since a repairable car would apply the deductible.

I have Chubb and agreed value with a $2500 deductible. Your quotes are out of the park high

At least it's not as expensive as mine.... I'm paying $10k/year for the mp4-12c + GT-R.

I have been with multiple carriers for my toys (AAA, Allstate,Progressive, Statefarm,etc ) Statefarm has the best rates by far. You might want to bump up the deductible a bit.

i have hagerty for two cars and zero deductible for a lot less.

Anyone here use Liberty Mutual on an exotic? I was thinking of giving them a call.

I have AMIG with the Diablo at $85k. Zero deductible is $1250/year.

I have AMIG with the Diablo at $85k. Zero deductible is $1250/year.

 

What usage restrictions do they have?

At least it's not as expensive as mine.... I'm paying $10k/year for the mp4-12c + GT-R.

That's because of your age.

That's because of your age.

 

Nah I'm old now, turn 30 this year lol... It's because I have a foreign license.

Car is a 2001 Diablo 6.0 ... for the agreed value, I am using $200k (cost to buy car, paint, etc to duplicate my car) ... estimated driving around $4k miles per year ... clean driving record ... etc

 

Filling out the 'get a quote' (hagerty.com) returns $4,800/year with liabilities half that of what I currently have with State Farm and a $0 deductible.

 

Working with a local insurance broker for Chubb/Hagerty/Safeco etc who was recommended to me by a guy owning almost 2 dozen cars, I am quoted $3,700 (Hagerty) with liabilities equal to what I have now with State Farm and a $0 deductible.

 

The broker didn't even tell me what Chubb was because the quote came back really high!

 

With State Farm, I am $1,300/year and $250 deductible.

 

Are those numbers for 'agreed value' insurance normally that high when only shopping around 1 car? I know it is best to have all your policies in one place to maximize the discounts.

 

USAA supposedly has 'agreed value' but I haven't reached out to them yet.

 

The only reason I am shopping around is for 'agreed value' compared to State Farm's 'stated value'. I am just concerned that in a total loss, State Farm will try to pay out as little as possible. I was told by my State Farm agent that if you have an appraisal done to get 'stated value', that they will pay out the value of the appraisal in the event of a total loss. I doubt an appraisal would come back at $200k though.

 

Chubb quoted me $3k/year for $300k value on the 12c ($2,500 deductible on collision, $1,500 on comprehensive), but then couldn't underwrite me since I have a Norwegian license instead of a US one. That was also when bundling condo insurance and a few watches/jewelery pieces.

I have AMIG with the Diablo at $85k. Zero deductible is $1250/year.

 

 

 

Wow.... Youre getting HOSED...

 

 

 

I have 30K on the M3 and 125K on the Countach (which Im trying to raise since the values have gone nuts).

 

O deductible

 

500K Liability

 

$667/yr.

 

 

Nah I'm old now, turn 30 this year lol... It's because I have a foreign license.

 

Yeah, that doesnt help either... but you're a FETUS compared to some of us.

Wow.... Youre getting HOSED...

 

 

 

I have 30K on the M3 and 125K on the Countach (which Im trying to raise since the values have gone nuts).

 

O deductible

 

500K Liability

 

$667/yr.

 

Damn. I am 31. I know with USAA with a $1k deductible i was paying about double that a year. So 1250 a year seems ok. Clean record too but i just joined with them last year i think. My $10k beater DD with USAA is 800 a year with a deductible...that seems like a ripoff.

 

Sprite, I am just not supposed to drive it to work.

Nah I'm old now, turn 30 this year lol... It's because I have a foreign license.

 

Do you have like 3 DUIs and 60 points on your license? Why not get a US license?

Do you have like 3 DUIs and 60 points on your license? Why not get a US license?

 

Haha no DUIs, I don't even drive after a single drink. Also no points. I can't get a US license because I don't live in the US, the mp4-12c and gt-r are at my vacation home in the US.

Damn. I am 31. I know with USAA with a $1k deductible i was paying about double that a year. So 1250 a year seems ok. Clean record too but i just joined with them last year i think. My $10k beater DD with USAA is 800 a year with a deductible...that seems like a ripoff.

 

Sprite, I am just not supposed to drive it to work.

 

 

I use USAA for my other cars. But their stated value didn't work for me for some reason... Can't remember now what it was. Maybe the price?

This thread discusses insurance quotes: http://www.lambopower.com/forum/index.php?...=SLR+deductible

 

 

Working with a local insurance broker for Chubb/Hagerty/Safeco etc who was recommended to me by a guy owning almost 2 dozen cars, I am quoted $3,700 (Hagerty) with liabilities equal to what I have now with State Farm and a $0 deductible.

 

Apparently, I mis-understand what the broker told me ... the deductible is $2,500 and not $0.

 

 

 

I dont even want to think about how much I pay for car insurance per year. I have never done agreed value, but it seems like that would drive the price way up.