[jfkheat]

I am paying less $800 a year with Hagerty for a 2023 ZL1. State Farm was $1100 every 6 months

[sklippi2018]

Seems I'm in the ballpark with $1,005 a year with USAA. Might have to do some research to get that lower price.

[Rogueleader_92]

Something to remember, insurance is first based on what kind of damage your expected to do (semi vs smart car or motorcycle) with a high speed sport car expected to do moderate to high damage (this is your liability) then how expensive your car is to fix/replace so new cars that need (or should have) full coverage hit for what you paid plus more if you carry gap insurance (if you have a loan you should so that way if you end up total loss you don't wind up owing more to your lender).

After all that math they then multiply it based on your risk profile and anyone who would have normal access to that car. So YOU may have a stellar record, your wife may too but if you have a kid in driving age your going to take a hit, this can also go for any visitors who sleep in your house so if you have a drunk brother in law down on his luck couch surfing for a month it can hit your rate. Just because you say they won't be driving it doesn't mean they won't take it for a joy ride.

Then as a final ..l., they add in the risk of all the other drivers they think are on the road without insurance or with minimal coverage (there are a LOT hence you should always carry uninsured and under insured). This is a HUGE reason why rates overall have gone up, between the mass influx of undocumented and unlicensed drivers and the general stupidity of most people who wate till they are lapsed to shop new insurance its estimated about half of cars on the road are uninsured.

[arpad_m]

Originally Posted by Rogueleader_92

Something to remember, insurance is first based on what kind of damage your expected to do (semi vs smart car or motorcycle) with a high speed sport car expected to do moderate to high damage (this is your liability) then how expensive your car is to fix/replace so new cars that need (or should have) full coverage hit for what you paid plus more if you carry gap insurance (if you have a loan you should so that way if you end up total loss you don't wind up owing more to your lender).

After all that math they then multiply it based on your risk profile and anyone who would have normal access to that car. So YOU may have a stellar record, your wife may too but if you have a kid in driving age your going to take a hit, this can also go for any visitors who sleep in your house so if you have a drunk brother in law down on his luck couch surfing for a month it can hit your rate. Just because you say they won't be driving it doesn't mean they won't take it for a joy ride.

Then as a final ..l., they add in the risk of all the other drivers they think are on the road without insurance or with minimal coverage (there are a LOT hence you should always carry uninsured and under insured). This is a HUGE reason why rates overall have gone up, between the mass influx of undocumented and unlicensed drivers and the general stupidity of most people who wate till they are lapsed to shop new insurance its estimated about half of cars on the road are uninsured.

I asked my insurance agent why we can't have a clause or a waiver added to the contract that says if anyone who's not on the policy drives the car, be they a teenage family member or an illegal alien, they are solely liable for all damages, then reduce my rate, because the company's liability on my account just had a giant drop. He is very helpful in general, but couldn't give me a plausible answer to this one.

Also, if half the drivers on the road are uninsured, what are the consequences to them? Nothing? Then soon the other half will join them in their uninsured driving bliss, it'll be like an avalanche.

[Rogueleader_92]

Originally Posted by arpad_m

I asked my insurance agent why we can't have a clause or a waiver added to the contract that says if anyone who's not on the policy drives the car, be they a teenage family member or an illegal alien, they are solely liable for all damages, then reduce my rate, because the company's liability on my account just had a giant drop. He is very helpful in general, but couldn't give me a plausible answer to this one.

Also, if half the drivers on the road are uninsured, what are the consequences to them? Nothing? Then soon the other half will join them in their uninsured driving bliss, it'll be like an avalanche.

ok, my numbers a bit skewed, this older (2017) article (https://www.carinsurance.com/Article...d-drivers.aspx) breaks it down by state, "ranging from 4.5 percent in Maine to 26.7 percent in Florida" but again I've seen stories (https://www.chicagotribune.com/2024/...fe-in-chicago/) of the "asylum seekers" pooling resources and having cars within days of being here and they admit without insurance so I'm sure the uninsured number has gone up, along with that my brother (I know everyone has a "brother" to back up their claim) told me 75% of people who called him for a quote had lapsed coverage at the time.

As for why everyone doesn't just do it, because enforcement is spotty at best and consequences can be harsh. I've had friends get into accidents with the undocumented and the cops just let them go. Then I just had a kid (18) coworker get into a fender bender and find out his mom never put insurance on his car because the quote was so high, they impounded the car instantly, tower caused more damage then the accident and now he has a court date.

If your driving a shit box it very well may be worth the risk, personally I keep full coverage on all my vehicles and its paid off a couple of times now. My wife was hit from behind at a stop light with the offender doing 50+ in a 35 and never breaked, totaled the car and caused moderate injury to my wife. With a lawyer we maxed out their insurance (50K) and got another 30k from my under insured. My own 2010 Camaro was hit from behind by a motorcycle, just got his permit minutes ago, no insurance. My uninsured paid out 15k for my car AND they are fighting off his lawyer(s) who think they can come after me when he got half a dozen tickets and I got none. Thats worth MORE then what my premiums have been over the life of that car.

[Dabjbr]

Originally Posted by arpad_m

I asked my insurance agent why we can't have a clause or a waiver added to the contract that says if anyone who's not on the policy drives the car, be they a teenage family member or an illegal alien, they are solely liable for all damages, then reduce my rate, because the company's liability on my account just had a giant drop. He is very helpful in general, but couldn't give me a plausible answer to this one.

Also, if half the drivers on the road are uninsured, what are the consequences to them? Nothing? Then soon the other half will join them in their uninsured driving bliss, it'll be like an avalanche.

That is a thing... you can specify "excluded drivers." That said, perhaps that option varies by state or insurance carrier.

[Johnfin]

My policy does not provide a provision to exclude drivers.
If you have teenagers, its a welcome call to reality.

[Texas1ss]

I'm in my fifties as well, and I pay 780 every six months here in Texas through State Farm. I think my deductible is 1,000. Not sure. Surprised it's not lower, but I'll take it. I don't use the driving module that lowers the rates either. Don't like big brother looking over my shoulder. That would save a little, but take away the fun of this car. And they'd probably cancel my policy as well.

Edit: I also have exclusions on the drivers. I'm the only one that can drive it. No worries either. It's a manual, and nobody I know, except my 82 year old dad, can drive it. And he doesn't want to anyway. When I first got it, I took him for a drive and scared the living crap out of him. He lost it.

I got on it in close proximity to a stop sign coming up quick, and he didn't realize the Brembos in these cars can stop on a dime. Thought he'd have a sense of humor, but damn was I wrong. Oops. LOL.

[Booher]

My car got totaled by an uninsured driver about 2 years ago now. They had an expired insurance card, and got off Scott free, no ticket for no insurance. Then, after months and months, my insurer progressive said I don't get my deductible back because they couldn't get their money. They were driving a BMW, so it doesn't have to be a shitbox, there's alot em out there, be careful and pickup uninsured as well, like previously stated above.

[Deacon Blues]

Originally Posted by Texas1ss

I'm in my fifties as well, and I pay 780 every six months here in Texas through State Farm. I think my deductible is 1,000. Not sure.

I also have State Farm (in NY) and am paying about $830 every six months, which I feel like is bananas after reading this thread. I'm definitely going to start shopping. I will say though that State Farm does only charge 25% of the premium while it is in winter storage, so I end up paying ~$1000 per year, but this is the first year I'll have the car for the entirety of the calendar so that's just an estimate on my part (full springtime and then partial fall coverage --> winter storage). My driving record is excellent, and I have other household vehicles and homeowners through SF, so I'm disappointed with my rates to say the least.

[jfkheat]

The ones that only put a few thousand miles a year on their Camaro should check into getting collector car insurance with a company like Hagerty. With regular insurance companies, if your car is stolen or totaled you will fight with the company to get what the car is worth. With Hagerty, you agree on the value of your car before you sign up with them. If something happens to your car you will be paid that agreed value. There are a couple stipulations you have to abide by. You have to have a daily driver that is insured by any insurance company and your Camaro has to be in a locked garage when you aren't using it. I was paying over $2000 a year with State Farm. With Hagerty I pay less than $800 a year

[Deacon Blues]

Originally Posted by jfkheat

The ones that only put a few thousand miles a year on their Camaro should check into getting collector car insurance with a company like Hagerty. With regular insurance companies, if your car is stolen or totaled you will fight with the company to get what the car is worth. With Hagerty, you agree on the value of your car before you sign up with them. If something happens to your car you will be paid that agreed value. There are a couple stipulations you have to abide by. You have to have a daily driver that is insured by any insurance company and your Camaro has to be in a locked garage when you aren't using it. I was paying over $2000 a year with State Farm. With Hagerty I pay less than $800 a year

Definitely would be interested in trying them as I meet those conditions. Have you (or anyone) had to have a claim with them? I guess I'm asking how reliable they are.

[jfkheat]

Originally Posted by Deacon Blues

Definitely would be interested in trying them as I meet those conditions. Have you (or anyone) had to have a claim with them? I guess I'm asking how reliable they are.

I have a classic muscle car that has been insured with them for close to 20 years. I haven't had a claim but know of a couple people that have. None of them had any issues with their claim.

[Deacon Blues]

Originally Posted by jfkheat

I have a classic muscle car that has been insured with them for close to 20 years. I haven't had a claim but know of a couple people that have. None of them had any issues with their claim.

Thank you!