Insurance Companies - LotusTalk - The Lotus Cars Community
 12Likes
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 30 (permalink) Old 09-11-2019, 08:51 AM Thread Starter
Registered User
 
Join Date: Sep 2011
Posts: 57
Insurance Companies

It's that time of the year when I need to renew my insurance. Last year I used American Collectors insurance company and I think they are on the high side, they want $1786 to renew for the year.
Who do you guys recommend?
FYI, I have zero points/accidents etc. I want a policy that enables me to drive (and park) wherever I please.
Cheers
Adam
CookieGuy is online now  
Sponsored Links
Advertisement
 
post #2 of 30 (permalink) Old 09-11-2019, 08:57 AM
Race & Pamper
 
Kubera's Avatar
 
Join Date: Sep 2009
Location: Westchester, NY
Posts: 1,710
USAA, or Progressive
Kubera is offline  
post #3 of 30 (permalink) Old 09-11-2019, 09:21 AM
Wingless Wonder
 
carbuff's Avatar
 
Join Date: Jun 2004
Location: In the Back of your Mind
Posts: 5,339
Garage
Quote:
Originally Posted by CookieGuy View Post
I want a policy that enables me to drive (and park) wherever I please.
Does that mean that you drive it to work? (Cue @sleekgt )

Or, you just want a policy without mileage limits?

Jenna and I both have unlimited mileage, full coverage policies through Condon-Skelly, (Lotus Ltd) but they are for pleasure vehicles that are garaged.
Jenna'sEspritTurbo likes this.

Atwell Haines
'88 Esprit
Succasunna, NJ USA


"Not all angels have wings." - Turbo R
carbuff is online now  
 
post #4 of 30 (permalink) Old 09-11-2019, 09:50 AM
Registered User
 
DaveS4s's Avatar
 
Join Date: Apr 2014
Location: Newnan, Ga.
Posts: 282
I had good luck with HAGERTY. give them a call.
DaveS4s is offline  
post #5 of 30 (permalink) Old 09-11-2019, 09:56 AM Thread Starter
Registered User
 
Join Date: Sep 2011
Posts: 57
If it's not raining...the V8 is out
I'm a huge advocate of 'use it or lose it'.

American Collectors insurance would be half what I pay, however the caveat for that policy was I could drive it wherever I wanted....I just couldn't stop anywhere!! Honestly....no parking lots....not to drive to the shops. Literally drive from my house, around in unlimited circles, so long as I didn't stop anywhere! LOL

I'll have to start calling around and see what's available.

What are you guys paying for your policies? I know the variables are limitless, but I'm fairly sure there must be an average cost for a V8 annually.

Cheers again

Adam
CookieGuy is online now  
post #6 of 30 (permalink) Old 09-11-2019, 09:57 AM
`08 Elise-SC-220
 
3carmonte's Avatar
 
Join Date: Dec 2013
Location: Tampa Bay, Florida
Posts: 494
Unless your a vet, I don't think you can beat Grundy (Philadelphia Ins).
https://www.grundy.com/collector-cars/

Shhh...Secret Squirrel
3carmonte is offline  
post #7 of 30 (permalink) Old 09-11-2019, 10:03 AM
Registered User
 
mike.griese's Avatar
 
Join Date: Jun 2004
Location: Byron, MN
Posts: 439
All of my cars are insured through State Farm. I have never had a problem with a claim. I get to choose the place to do the repairs and the parts used. I don't know if I pay more, I really don't care. With insurance it's not what you pay up front, it's what happens when you need to file a claim.
carbuff likes this.

Mike

'83 Esprit Turbo (The Fabulous Trashwagon)
'87 Esprit Turbo (FrankEnSPRIT)
'90 St Tropez Turbo
'04 Boxster S
'05 CO Elise, LSS, Touring, Hardtop, among others
mike.griese is offline  
post #8 of 30 (permalink) Old 09-11-2019, 10:56 AM
Registered User
 
the1tonton's Avatar
 
Join Date: Jun 2019
Posts: 70
Get Hagerty. When you crash they will give you enough to buy a new lotus. Or you can gamble with Progressive, Geico etc. and when you crash they will tell you that your car is worthless.
DaveS4s and PLAY-DOH like this.

2007 Exige S - in the works...
the1tonton is online now  
post #9 of 30 (permalink) Old 09-11-2019, 11:08 AM Thread Starter
Registered User
 
Join Date: Sep 2011
Posts: 57
Just had a quote from them about $400 lower than I am paying now.
You chaps with Hagerty, have you had any issues with them requiring you do not drive on school runs, trips to the store etc?
Anyone got anything bad to say about Hagerty?
Think I might give them a try.

Cheers

Adam
CookieGuy is online now  
post #10 of 30 (permalink) Old 09-11-2019, 11:14 AM
Registered User
 
the1tonton's Avatar
 
Join Date: Jun 2019
Posts: 70
I just started with them, but from what I hear is that they are lenient. They dont check mileage. I would stay away from dealers who report mileage to carfax though.

2007 Exige S - in the works...
the1tonton is online now  
post #11 of 30 (permalink) Old 09-11-2019, 11:43 AM
Wingless Wonder
 
carbuff's Avatar
 
Join Date: Jun 2004
Location: In the Back of your Mind
Posts: 5,339
Garage
FWIW, our Condon-Skelly policy costs ~ $350 a year.

That's with full comprehensive and collision ($0 deductable), Stated Value $35,000 USD.

Atwell Haines
'88 Esprit
Succasunna, NJ USA


"Not all angels have wings." - Turbo R
carbuff is online now  
post #12 of 30 (permalink) Old 09-11-2019, 01:29 PM
Registered User
 
Join Date: Aug 2007
Location: Atlanta
Posts: 374
Garage
The key is stated value. The big companies dont do that from my experience.

I have American Collectors and its like $250 a year. But stated value is low for my car and the miles are limited that I can drive. As you mentioned I cant take it to work which is not an issue for me. I dont recall the parking limitation...that is a little scary.

If you go through a standard insurance company and have a wreck I would be worried that they would depreciate the lotus like a Camry and give you $1800 and total the car for even a minor wreck.

94 Esprit S4 - Silver
Previous - lots of hot rod Air Cooled 911s
[email protected]
Erik L is offline  
post #13 of 30 (permalink) Old 09-11-2019, 01:45 PM Thread Starter
Registered User
 
Join Date: Sep 2011
Posts: 57
Erik, I'd double check your American Collectors insurance and make sure you have enough coverage!
I know I had to pay for the 'Premium' insurance package (double the cost), so that I could actually park the car away from my home. Crazy!
CookieGuy is online now  
post #14 of 30 (permalink) Old 09-11-2019, 01:58 PM
Registered User
 
Join Date: Aug 2007
Location: Atlanta
Posts: 374
Garage
I am going to look at the policy tonight!! :-)

94 Esprit S4 - Silver
Previous - lots of hot rod Air Cooled 911s
[email protected]
Erik L is offline  
post #15 of 30 (permalink) Old 09-11-2019, 03:45 PM
Registered User
 
beinmymirror's Avatar
 
Join Date: Jul 2004
Location: san diego
Posts: 280
I have AAA and have been fine with them although have had zero accidents. I like the stated value deal which I have my 49 Chevy panel truck hotrod.
I'll check out Condon-Skelly tomorrow on my Lotus.
Thanks
beinmymirror is offline  
post #16 of 30 (permalink) Old 09-11-2019, 05:14 PM
Wingless Wonder
 
carbuff's Avatar
 
Join Date: Jun 2004
Location: In the Back of your Mind
Posts: 5,339
Garage
Quote:
Originally Posted by beinmymirror View Post
I'll check out Condon-Skelly tomorrow on my Lotus.
Be sure to mention the Lotus, Ltd deal which includes the unlimited mileage proviso. Laurie Gardner is the rep who is familiar with it.

<[email protected]> 800.257.9496

Atwell Haines
'88 Esprit
Succasunna, NJ USA


"Not all angels have wings." - Turbo R
carbuff is online now  
post #17 of 30 (permalink) Old 09-12-2019, 04:05 AM
You can't make this up
 
Jenna'sEspritTurbo's Avatar
 
Join Date: Oct 2015
Location: Milford NJ
Posts: 1,143
I just got my renewal for next year

83 Esprit. 73 Jensen Healey, 90 TVR290 S3c
under $511.20

Think I will buy another car with the savings
carbuff likes this.
Jenna'sEspritTurbo is offline  
post #18 of 30 (permalink) Old 09-12-2019, 04:06 AM
You can't make this up
 
Jenna'sEspritTurbo's Avatar
 
Join Date: Oct 2015
Location: Milford NJ
Posts: 1,143
Laurie change jobs but the number is the same

Quote:
Originally Posted by carbuff View Post
Be sure to mention the Lotus, Ltd deal which includes the unlimited mileage proviso. Laurie Gardner is the rep who is familiar with it.

<[email protected]> 800.257.9496
carbuff likes this.
Jenna'sEspritTurbo is offline  
post #19 of 30 (permalink) Old 09-12-2019, 05:12 AM
Registered User
 
4380r's Avatar
 
Join Date: Nov 2007
Location: Maryland
Posts: 6,475
Years ago I had just bought a fully restored Europa S2 (from Hayes). Had it delivered directly to the shop I had worked with, who declared it to be the nicest S2 they'd ever seen.

After they had it a week to go over it stem to stern, I picked it up from them on a Friday. The next day, a woman ran a light and hit me head on, totaling the Lotus.

It was covered by Allstate. The adjuster threw a ridiculous number at me...low. He pointed to a listing in Hemming's for a 1970 S2 that had been fully restored, cited it's asking price, and said "That's what a perfect one goes for, so yours would've been worth less." I said: "That IS my car." He said: "Yeah, it's the same year and model, but it's been restored." I said: "No, that IS my car. That's the ad for the car I bought."

He had only done a quick walk around my wrecked car. Had no clue what he was looking at. Admitted to not even looking into the interior and didn't even lift the engine cover. He would've seen an immaculate engine bay with an as new Renault engine and rebuilt trans/suspension/brakes. Also would've caught a glimpse of the powder coated frame.

He looked at me dumbfounded. The check that was cut was considerably larger than initially offered.
Kubera likes this.

Owned, loved, enjoyed, and now gone:
1969 Europa S2 Blue
1970 Europa S2 White
1974 Europa Twin Cam Blue
1974 Europa Twin Cam Blue
1984 Turbo Esprit Calypso Red
2005 Elise Starlight Black
2005 Elise Saffron Yellow
2005 Elise Ardent Red
2006 Exige Graphite Grey
2007 Exige Canyon Red

Other:
1970 MGB GT
1970 Datsun 510
1984 Honda CRX Si
1984 Pontiac Fiero
2004 Chrysler Crossfire
2009 Pontiac Solstice Coupe
4380r is offline  
post #20 of 30 (permalink) Old 09-12-2019, 05:37 AM
Registered User
 
Join Date: Nov 2009
Location: New Jersey
Posts: 3,091
The key to what you want is "Agreed Value". Without that they will "Blue Book" you and you get a fraction of what the car is really worth if it is totaled. To get agreed value you have to buy collector car insurance. To get collector insurance you generally can't use the car as a daily driver. The rules and prices vary greatly state-to-state. You really do have to call several companies and get quotes to figure out what you are getting and what it should cost. Some things to ask;
Is there a mileage restriction?
Is there an age restriction?
Is there any deductible?
Does the agreed value increase automatically every year?
Is towing covered, how much and under what conditions?
Does it have to be garaged?
You cannot compare yourself to anyone in another State because each State has it's different rules and that affects the pricing. Hagerty, Taylor, and Grundy are the big, well known collector car insurance companies but there are many to pick from.
If you still want to use the car as a D/D and you can't cover it with collector insurance, it will cost a lot more and if you total it you won't get it's full value. This is worse than it seems. If you only have a small accident, and it costs more to repair it than they say it's worth, they total it. This is a big reason why you don't see people using collector cars as daily drivers.
David Teitelbaum
jtrealty is offline  
Sponsored Links
Advertisement
 
Reply

  LotusTalk - The Lotus Cars Community > Lotus Discussions > Lotus Esprit

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the LotusTalk - The Lotus Cars Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 2 (0 members and 2 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome