Has anyone found a way to insure their car for more than "Blue Book"
02-10-13, 08:29 AM
#1
Has anyone found a way to insure their car for more than "Blue Book"
Greetings,
As I pour a high percentage of my earnings into my car I sailed past Blue Book rather quickly. I see others easily triple my investment. Has anyone found a way to insure out cars for more than Blue Book value? I have yet to find a payout better then Blue book value. Living in NYC forces me to sometimes use the 400$ per month parking garages in my neighborhood to protect my investment (ouch!). I carry Geico full coverage but would not break even on a payout at this point and have at least another 5000$ of mods planned.
How do I protect this thing? (better policy and better alarm?)
I assume [hope] we are a pretty low theft target because of vehicle age.
Is a bodacious alarm enough to park on the street?
Are they easy to get by?
As I pour a high percentage of my earnings into my car I sailed past Blue Book rather quickly. I see others easily triple my investment. Has anyone found a way to insure out cars for more than Blue Book value? I have yet to find a payout better then Blue book value. Living in NYC forces me to sometimes use the 400$ per month parking garages in my neighborhood to protect my investment (ouch!). I carry Geico full coverage but would not break even on a payout at this point and have at least another 5000$ of mods planned.
How do I protect this thing? (better policy and better alarm?)
I assume [hope] we are a pretty low theft target because of vehicle age.
Is a bodacious alarm enough to park on the street?
Are they easy to get by?
02-10-13, 09:19 AM
#3
Driver
iTrader: (6)
Join Date: Mar 2012
Location: ca
Posts: 175
Likes: 0
Received 0 Likes
on
0 Posts
Greetings,
As I pour a high percentage of my earnings into my car I sailed past Blue Book rather quickly. I see others easily triple my investment. Has anyone found a way to insure out cars for more than Blue Book value? I have yet to find a payout better then Blue book value. Living in NYC forces me to sometimes use the 400$ per month parking garages in my neighborhood to protect my investment (ouch!). I carry Geico full coverage but would not break even on a payout at this point and have at least another 5000$ of mods planned.
How do I protect this thing? (better policy and better alarm?)
I assume [hope] we are a pretty low theft target because of vehicle age.
Is a bodacious alarm enough to park on the street?
Are they easy to get by?
As I pour a high percentage of my earnings into my car I sailed past Blue Book rather quickly. I see others easily triple my investment. Has anyone found a way to insure out cars for more than Blue Book value? I have yet to find a payout better then Blue book value. Living in NYC forces me to sometimes use the 400$ per month parking garages in my neighborhood to protect my investment (ouch!). I carry Geico full coverage but would not break even on a payout at this point and have at least another 5000$ of mods planned.
How do I protect this thing? (better policy and better alarm?)
I assume [hope] we are a pretty low theft target because of vehicle age.
Is a bodacious alarm enough to park on the street?
Are they easy to get by?
02-10-13, 09:38 AM
#4
My insurance is covering ALL the mods on my SC, along with the car. Everything I have put into the car front to back is insured. Includes road-side, rental, everything. Just depends on the insurance company I think, but it only takes a phone call, and possibly some pictures, part numbers, and possibly receipts. I have been with my insurance company long enough, they only requested pictures and asked me for estimated value of each item and voila, covered.
02-10-13, 09:53 AM
#5
I have geico...Take pictures of everything. but you need to add additional insurance. tell them the car is modified. anything over 5k additional will require you to take it to a agent for verification. especially is some things are one off or custom built.
02-10-13, 12:57 PM
#7
Haggerty just quoted me a policy that was about 1/3rd my Geico price! I still have to compare the coverage but at first glance looked similar.
In the quote, I stated the value of my car as 15,000$
The Blue book replacement that Geico would issue I think is 6K to 8K. How can it be so much cheaper? it was 463 PER YEAR!
I just randomly put down 15K, How does a company like Haggerty determine payout in the event of a total loss?
Last edited by Studiogeek; 02-10-13 at 01:02 PM.
Trending Topics
02-10-13, 01:18 PM
#9
YIKES!
Haggerty just quoted me a policy that was about 1/3rd my Geico price! I still have to compare the coverage but at first glance looked similar.
In the quote, I stated the value of my car as 15,000$
The Blue book replacement that Geico would issue I think is 6K to 8K. How can it be so much cheaper? it was 463 PER YEAR!
I just randomly put down 15K, How does a company like Haggerty determine payout in the event of a total loss?
Haggerty just quoted me a policy that was about 1/3rd my Geico price! I still have to compare the coverage but at first glance looked similar.
In the quote, I stated the value of my car as 15,000$
The Blue book replacement that Geico would issue I think is 6K to 8K. How can it be so much cheaper? it was 463 PER YEAR!
I just randomly put down 15K, How does a company like Haggerty determine payout in the event of a total loss?
02-10-13, 03:43 PM
#11
1JZ Single SC400
iTrader: (59)
Join Date: Jan 2009
Location: Alabama, Roll Tide!
Posts: 8,518
Likes: 0
Received 15 Likes
on
12 Posts
Are you sure about this? I talk to 2 supervisors and they said they couldn't. The only thing they say was upgraded wheels and tires, and stereo stuff. I have every receipt for everything I have ever bought and paid for this car. This might depend on the state you live. Alabama doesn't have this option, unless they have changed their procedures and protocols in the past 2-3 months. I say call Progressive this is who they told me to call, along with State Farm.
02-10-13, 03:53 PM
#12
Are you sure about this? I talk to 2 supervisors and they said they couldn't. The only thing they say was upgraded wheels and tires, and stereo stuff. I have every receipt for everything I have ever bought and paid for this car. This might depend on the state you live. Alabama doesn't have this option, unless they have changed their procedures and protocols in the past 2-3 months. I say call Progressive this is who they told me to call, along with State Farm.
06-11-13, 12:04 PM
#15
It could vary by state. I have had Geico for 7+ yrs and they have always covered all my modifications, and now including my swap and the aftermarket equipment on the engine. Nose to tail, my SC and mods are under full coverage with Geico. My payments are slightly higher than a stock SC would be, but even my policy shows each individual modification with value. It can be done.
Studiogeek, with fender benders this can be the difference between a total out or covered repair but it's often a process you go through with your adjustor and agent. As for a theft, it's definitely helpful.
Regarding Hagerty, they start their coverage on cars with a MINIMUM value of $15k. I've checked too. They also generally require a low maximum mileage because classic car insurance is intended for weekend or occasionally driven show cars. It's something like 3.5k miles a year or maybe 5k miles a year for the most lenient of classic car insurers. Personally, I like what I've heard about Hagerty most but I didn't find them useful for a DD car.