Who is insuring your ride?

[ShadowsPapa]

I’m with farm bureau. It was cheaper than the last company I was with. ??‍

I've been with them since 1982 when they had my farm covered.
I've stuck with them because of their service - but also the agent. Love the guy. Even though I moved hours away, stuck with him.
My agent simply says take pictures and send them to him. And on my truck - send him a list of the stuff, the costs, and pictures.

When I totaled our 2003 WJ years ago, I was ready for a battle. I did all the research on NADA, KBB and similar sites. The adjuster came to me and said he'd seen the Jeep and his work was done and handed me a check - and it was for much more than the highest numbers I'd come up with. He had figured in the stuff I'd added and considered the care the vehicle had (aside from me totaling it, of course)
I was impressed. No hassle, thousands more than book. My agent, Jeff, keeps us up on things and has always been straight on things.

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[ShadowsPapa]

2020 JT is $647 annually
2021 WK2 is $575 annually
So the two Jeeps are $1,222 per year, plus my two cars added to that.

 

[Gladiator832]

I added $4000 in aftermarket parts coverage with Geico, added $10 to my monthly.

 

[rr11]

I have USAA they cover $5000 in custom parts. Over the years we have had one totaled (wife's) one by storm. Paid more than I expected good customer service. Five years back we were rear-ended at a light, they covered every thing extended the rental twice and got my $500 deductible from the other party for me.

 

[sharpsicle]

There usually is a ceiling to what value of add-ons will be covered, in the neighborhood of $5k for most companies. If you're talking $15k on top of the value of the vehicle, you're in a whole different ballgame when it comes to insurance. Main reason is adding that percentage on top of the vehicle's value is ripe for fraudulent claims. Think about it, your Willys probably books out at $42-$43k or so? You're essentially trying to insure 135% of that value. That's a red flag for a standard policy.

Plenty of options if you're good with the $5k coverage limit, but if you want to cover it all, I wish you luck in getting that much additional. As someone else said, you're probably getting into "agreed value" policies at that point (which can be tricky).

 

[Mrbizkitt]

I use USAA and have never had any issues with auto or home.

They are a great company, had them for over 30 years. I recently switched from them to Geico and saving over $1000 dollars a year. Still have them for homeowners but will be switching soon as they are about $600 higher than everyone else I’ve been checking with. It’s unfortunate that
Their pricing isn’t more competitive.

 

[PanhandleChuck]

They are a great company, had them for over 30 years. I recently switched from them to Geico and saving over $1000 dollars a year. Still have them for homeowners but will be switching soon as they are about $600 higher than everyone else I’ve been checking with. It’s unfortunate that
Their pricing isn’t more competitive.

Agree. Service is great, but pricing has lost competitiveness. It’s easy with everything under one roof (auto,home,life, investments). Since investment management is 3rd party now and “under one roof” is gone, after 25 years, my loyalty has faded.

 

[bastage]

I have been trying to find out who to go to for this as well.. I am already paying 1400 every 6 months though (full coverage on 2 vehicles & the other driver is a 15 year old which is what is dinging me so badly). Replacing my truck if it was totaled would leave me out the cost of a second stock JT so I know I need to do something different.

 

[VolatileA]

I've had Progressive for about 6-7 years and they have been pretty incredible on price and coverage.

No reason for me to even shop around because they have a great loyalty program.

Recently had a no fault total loss and rates didn't move, I'll never leave them if I don't have to.

 

[Blade1668]

I have USAA and I think they cover up to $5,000 in custom parts.

I do wonder if your company would cover the cost of the OEM parts that would have been on the truck otherwise. Or would you just lose that money too???

Don't hold your breath on that. I've been using USAA for over 25 years and took it in the shorts back when my LJ got stripped. I had about that much ripped off of it.
I looked at moving to Geico and State Farm Geico had lower rate but State Farm better coverage in between the two in cost. It does sound like I need to check with Progress too before I move back to State Farm.

 

[ShastaJT6]

Holy cow, this really took off. I really appreciate all the input and info everyone has provided, been really interesting to read through. For the record, Ive been paying $140/month to Geico for "full coverage", which apparently is not so full based on the conversation I had with their team yesterday.

Sounds like some of you have had luck getting aftermarket coverage with Geico, looks like its hit or miss. I read on other sites that some people have gone with "Stated Value" through State Farm - I reached out to a local SF agent asking about aftermarket coverage or stated value and they basically said we cant help you, which is a bummer.

Farmers insurance has been the best response I have gotten so far. They got back to me quickly, confirmed -in writing- they will cover an additional 10k in aftermarket parts for an additional fee on top of Collision / Comprehensive. I think thats the route I am going to go - Ive got about $13k in upgrades currently, and I know there is more to come, but 10k aftermarket coverage sounds pretty good..

Barring a total loss, that should cover replacing whatever gets damaged in an accident without issue, and even in a total loss situation, would ease the pain quite a bit. Working out details with them to get the numbers finalized, but it looks like it will be a little more expensive than what I had with Geico but nothing crazy. Ill let yall know what I settle up on.

 

[Klutch]

I own a classic Mustang and the subject of insurance comes up A LOT on the vintage-mustang forum. After many years of discussing insurance, here is what I've gathered:

- Insurance costs and coverage varies a lot depending on multiple situations. Zip code and credit score are significant factors. It's not fair, but a person in Detroit pays way more for insurance than here in Colorado Springs. And it's not cool that credit scores can affect cost, but they often do.

- I'm a veteran and almost everyone I work with is a veteran. So, most people I know have USAA insurance. Unfortunately, you can't get USAA if you're not military, a veteran or a blood relative of military or veterans. Be aware USAA is not the company they used to be. Many of the people I know have recently submitted claims and found it to be a nightmare. And, in every case, they say, "USAA isn't the company it used to be!". Sometimes people still get good service from USAA, but it's not like 20 years ago.

- I know you can get "Agreed Value" coverage with classic car insurance. I don't know if that's available for a later model vehicle. The difference is with Agreed Value, if your vehicle is stolen or totaled, you get a check for the value your insurance company previously agreed to; no questions asked. With Stated Value, which is the vast majority of policies, the insurer makes a half-hearted attempt to establish the value of your vehicle and that's what you get. You can appeal that decision and sometimes get more, but it's a crap shoot. (You should never insure a classic vehicle with a Stated Value policy. The insurer will simply say, "Oh, that's an old car so it has no value".)

- The cheapest policy will not be the best policy, but that's what most people want. Don't wait until you file a claim to discover it's not the policy you wanted or needed.

- So, to get the policy you want in your area for your vehicle, you must shop around. Ask questions on the phone and then get it all in writing. Whatever your buddy got on his truck may not apply to you. Again, there are just so many variables.

Good luck!

 

[ShadowsPapa]

- Insurance costs and coverage varies a lot depending on multiple situations. Zip code and credit score are significant factors. It's not fair, but a person in Detroit pays way more for insurance than here in Colorado Springs. And it's not cool that credit scores can affect cost, but they often do.

Risk factors. Why isn't it fair for someone to pay more when the risk of theft may be 4 times that of another location, or the risk of an accident 5 times greater, or where the speeds are higher so the losses will be higher?
Insurance companies are in the risk business. Do you win as much gambling on a horse that's a sure thing compared to one that's a long shot? Risk.
Living and parking in parts of Chicago almost guarantee troubles and yet many people here leave their trucks out - keys in the truck.
Some here have never had any theft at all while people in other places report things stolen a couple times in 10 years. Risk.

Credit score speaks to reliability - them getting paid, being more stable, etc. It factors in like for loans, credit card interest and so on. People get paid to figure it all out and show where a company takes the greatest risk and where their risks are minimal.

I've compared my rates to some folks around the country and they can't believe we get our insurance as cheap as we do. Credit scores that are all but at the very top, and living where the risk of theft is extremely low, and speeds are lower, traffic as far as congestion is a lot less.

(my brother worked in the insurance industry for years and knows all the little details about how things are figured - it's science.)

For my classic cars - I keep my agent updated with current pictures, mileage, any changes or improvements, I keep track of current average values and choose my number. He wants pictures, especially since there's no way to get any replacement parts for my cars - they just aren't reproduced and the new stuff is pretty much gone out of the channel so he wants to be able to prove condition. One of my cars even on the latest charts is valued only about 11K but I have over double that in it - so I don't accept their standard coverage. It would take much more than I have invested to do it again today.

 

[Klutch]

Risk factors. Why isn't it fair for someone to pay more when the risk of theft may be 4 times that of another location, or the risk of an accident 5 times greater, or where the speeds are higher so the losses will be higher?
Insurance companies are in the risk business. Do you win as much gambling on a horse that's a sure thing compared to one that's a long shot? Risk.
Living and parking in parts of Chicago almost guarantee troubles and yet many people here leave their trucks out - keys in the truck.
Some here have never had any theft at all while people in other places report things stolen a couple times in 10 years. Risk.

Credit score speaks to reliability - them getting paid, being more stable, etc. It factors in like for loans, credit card interest and so on. People get paid to figure it all out and show where a company takes the greatest risk and where their risks are minimal.

I've compared my rates to some folks around the country and they can't believe we get our insurance as cheap as we do. Credit scores that are all but at the very top, and living where the risk of theft is extremely low, and speeds are lower, traffic as far as congestion is a lot less.

(my brother worked in the insurance industry for years and knows all the little details about how things are figured - it's science.)

For my classic cars - I keep my agent updated with current pictures, mileage, any changes or improvements, I keep track of current average values and choose my number. He wants pictures, especially since there's no way to get any replacement parts for my cars - they just aren't reproduced and the new stuff is pretty much gone out of the channel so he wants to be able to prove condition. One of my cars even on the latest charts is valued only about 11K but I have over double that in it - so I don't accept their standard coverage. It would take much more than I have invested to do it again today.

Indeed, I understand the risk situation. But for credit scores, a very reliable person can have a low credit score because a spouse maxed out multiple credit cards and disappeared. I've seen it happen multiple times and it ain't pretty.

 

[sharpsicle]

Indeed, I understand the risk situation. But for credit scores, a very reliable person can have a low credit score because a spouse maxed out multiple credit cards and disappeared. I've seen it happen multiple times and it ain't pretty.

I wonder the same thing. Insurance isn't a line of credit. I will not end up in a position where I owe you a balance, you'll just cancel coverage. Why does my credit score matter?

I equate this to the b.s. practice of riding a bicycle drunk = points off your license. They shouldn't be linked.

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