Insurance in NJ
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Hello,
I picked up my car last Saturday and I had planned on adding my car to my existing car policy (Encompass). They supply a nice package for multi cars,umbrellas and home. To my surprise my insurance company said that the Lotus Elise was on there list of cars they do not wish to insure. My agent searched around and found a Haggherty policy that suited my needs even more.
Points of the Haggherty policy
1. has a $1000 deductable
2. Insured for an agreed value (that means that we have agreed that if the car is wreaked or stolen the ins. comp. will pay me 55K)
3. I can only drive the car an agreed number of miles (in my case 2500 per year)
4. My price for policy is $1056.00 per year
My agent tells me even with my multi car discount my other policy would have been double this.
I picked up my car last Saturday and I had planned on adding my car to my existing car policy (Encompass). They supply a nice package for multi cars,umbrellas and home. To my surprise my insurance company said that the Lotus Elise was on there list of cars they do not wish to insure. My agent searched around and found a Haggherty policy that suited my needs even more.
Points of the Haggherty policy
1. has a $1000 deductable
2. Insured for an agreed value (that means that we have agreed that if the car is wreaked or stolen the ins. comp. will pay me 55K)
3. I can only drive the car an agreed number of miles (in my case 2500 per year)
4. My price for policy is $1056.00 per year
My agent tells me even with my multi car discount my other policy would have been double this.
haggerty has too many restrictions on driving the car....they want you to keep it locked up in the garage....the elise was meant to drive.....use Geico instead....its worth the extra insurance money to be able to drive your car.
Say 'No' to Geico
I just mentioned this thread to a friend of mine who responded emphatically to not get Geico. He knows many people including his wife who have had them as an insurance company in the past and if you put in any claims they will dump you the following year. I have never had Geico so I can't speak personally.
I just mentioned this thread to a friend of mine who responded emphatically to not get Geico. He knows many people including his wife who have had them as an insurance company in the past and if you put in any claims they will dump you the following year. I have never had Geico so I can't speak personally.
I've had GEICO for at least 20 years and have filed a number of claims. They've never been anything but the best to deal with. Most of the time the accidents were not my fault. However, there was one case that I am still shocked they didn't drop me over. In 1990, I let a friend drive my brand new Miata. He proceeded to make a left hand turn across traffic and we were broadsided. The car was totalled and I almost was. GEICO paid for a new car for me (every penny), all the repairs on the other car, and all of my medical expenses. GEICO was never able to collect anything from the guy who was driving my car.CLS2Elise said:
They never even raised my rates. I did, however, have to agree never to allow my friends to drive my cars ever again.
(Oh, and just for grins, I get quotes from other companies to compare rates. No one else comes close.)
Ellen
I've had them for 9 years, and filed a few claims without any problems. One time I had all of my stereo equipment stolen, which amounted to almost the value of the car (college car, and yes I'm really into car stereo). My policy with Geico wasn't supposed to cover anything not "permanantly attached" to the car, which most of it wasn't , but they paid every penny. My rates never went up. I probably have 6 or 8 friends that have Geico and have filed various claims, and to my knowledge they have never been dropped. I don't know if any had their rates increased, but I'm guessing if they were in an at fault accident that their rates would go up.
Seems like we've had different experiences, which makes me wonder, what was the situation where Geico dropped someone? From what I've heard, insurance companies only drop high risk drivers (getting into accidents, tickets, points on their license going over a certain level). Are you saying that someone got into an accident one year, then did nothing else and was dropped for no other reason the following year? If true, that's really weird. I would guess that they had more tickets or points before Geico dropped them. Can insurance companies drop you for no reason? Maybe they can, but from my experiences I wouldn't think so.
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2,959 Posts
When I lived in Nj, NJ Manufacturers was the lowest priced. However, you have to work for a company that is associated with them, so most people are not eligible.
I had NJ Cure which was based out of Princeton. I think their full name was New Jersey Citizens United Recriprocal Exchange.
You had to have a perfect record.
I am in FL now and am paying $1500 a year total for my Lotus and a 99 Mercury Cougar with Liberty Mutual, but I get a 20% discount since I have my homeowners insurance with them, plus a multicar discount, plus a discount for driving less than 5 miles to work on the Cougar, and using the Lotus as a pleasure use only and driving both cars less than 7500 miles per year, plus also a discount for getting Liberty Mutual from were I used to work.
I had NJ Cure which was based out of Princeton. I think their full name was New Jersey Citizens United Recriprocal Exchange.
You had to have a perfect record.
I am in FL now and am paying $1500 a year total for my Lotus and a 99 Mercury Cougar with Liberty Mutual, but I get a 20% discount since I have my homeowners insurance with them, plus a multicar discount, plus a discount for driving less than 5 miles to work on the Cougar, and using the Lotus as a pleasure use only and driving both cars less than 7500 miles per year, plus also a discount for getting Liberty Mutual from were I used to work.
thanks everyone for the advice. It seems like people are getting various information from insurance companies. xxxotic says that the Elise is insured through Liberty Mutual but when I talked to them they said they would not insure a Lotus.
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85 Posts
NJ Insurance
Just moved here from Cincinnati, Ohio...Jeez what a shock.
Anyways, I pay $706/ half with Allstate in Haddon Heights, NJ for my elise. That is 100/300 with a $500 deductible, good driving record and 2nd vehicle.
I assume you would only insure for just over half the year out here anyways and store for the winter ($100 for 6 months comprehensive).
State Farm quoted me $1200/half so I dropped them right away.
Just moved here from Cincinnati, Ohio...Jeez what a shock.
Anyways, I pay $706/ half with Allstate in Haddon Heights, NJ for my elise. That is 100/300 with a $500 deductible, good driving record and 2nd vehicle.
I assume you would only insure for just over half the year out here anyways and store for the winter ($100 for 6 months comprehensive).
State Farm quoted me $1200/half so I dropped them right away.
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