Leland West low ball Agreed upon value quote
#31
My wife is an insurance agent and her recommendation is Chubb. Not the cheapest by any stretch of the imagination but they have a great reputation, excellent service and don't hassle you in the event of a claim. HTH!
#32
"If it's not a total loss I believe all insurance companies are pretty much the same (if you're covered appropriately) they are all required to pay for all repairs to your car with OE parts at the repair shop of your choice no matter the cost."
Is this true?? I find that hard to believe
Is this true?? I find that hard to believe
#33
Nordschleife Master
With cars like this, the secondary Chinese knockoff parts are pretty much non-existent, so if they're paying to repair it, it's likely gonna be with OE parts.
#34
"If it's not a total loss I believe all insurance companies are pretty much the same (if you're covered appropriately) they are all required to pay for all repairs to your car with OE parts at the repair shop of your choice no matter the cost."
Is this true?? I find that hard to believe
Is this true?? I find that hard to believe
#35
Three Wheelin'
Parnelli
I was with Hagerty and cannot recommend them - they are full of eastern promise, until you make a claim.
Their site mentions going out and enjoying your car - going for an ice cream. i had hail damage 'going for an ice cream'. They wanted to know why i hadn't checked the weather forecast and why i was out anyway. They were quite unpleasant and paid out with great reluctance.
I was with Hagerty and cannot recommend them - they are full of eastern promise, until you make a claim.
Their site mentions going out and enjoying your car - going for an ice cream. i had hail damage 'going for an ice cream'. They wanted to know why i hadn't checked the weather forecast and why i was out anyway. They were quite unpleasant and paid out with great reluctance.
#36
Rennlist Member
Chubb is generally regarded as one of the best... Unfortunately they don't write car insurance in Mass.
#37
They spend your premium dollars on witty TV commercials, and treat their customers like the plague!
I got bumped by one of Farmers insured, and I had Farmers as well. Their purposeful manipulation to have my truck repaired by their "approved" collision center (a Ford dealer) was nothing short of illegal.
Farmers pulled every trick in the book to stop me from having my Toy truck repaired at a Toyota collision center. I eventually threatened to take them before the ins board, before they finally allowed me to have my truck repaired at the center of my choice. (I wanted OEM Toyota parts).
After the fiasco and run around, I xld both auto and homeowners ins with Farmers.
Last edited by nine9six; 04-21-2014 at 01:56 PM.
#38
RL Community Team
Rennlist Member
Rennlist Member
Farmers Ins was rated one of the lowest insurance for quality and satisfaction.
They spend your premium dollars on witty TV commercials, and treat their customers like the plague!
I bumped by one of Farmers insured, and I had Farmers as well. Their purposeful manipulation to have my truck repaired by their "approved" collision center (a Ford dealer) was nothing short of illegal
They spend your premium dollars on witty TV commercials, and treat their customers like the plague!
I bumped by one of Farmers insured, and I had Farmers as well. Their purposeful manipulation to have my truck repaired by their "approved" collision center (a Ford dealer) was nothing short of illegal
How can it be my fault if I am going the speed limit and someone comes into my lane with no warning? I am sure if the other party was not insured by Farmers they would have said it was 100% the other drivers fault. I ended up having my agent fight them on the decision and got it changed to 90% on the other driver but I was still pissed about the decision. I haven't started looking for a new company yet but it is on my to do list. I probably won't be considering any classic car policies because I don't want anyone to tell me how/when to drive my car.
#40
Rennlist Member
My general theory is that insurance actuaries know what they are doing and the only way to get decreased premiums is to accept decreased coverage. I ran a Leland quote yesterday because I too was concerned about what I'd get if my car were declared a total loss by my insurer (USAA). This quote seemed to back my theory.
Although the initial quote from Leland was low I found that once I adjusted all of the other limits (liability, uninsured motorist, medical, etc) from their very low default settings up to what my USAA coverage proves, Leland turned out to be more expensive as well as being far more restrictive. As I have not yet heard of anyone being unhappy with a total loss payment from USAA I plan to stick with them.
Although minute, the chance that a total loss might not be covered by Leland or another collector-type insurance policy because my use on that particular day is deemed to not be covered is simply to high of a risk for me to justify a small potential annual savings. YMMV
Although the initial quote from Leland was low I found that once I adjusted all of the other limits (liability, uninsured motorist, medical, etc) from their very low default settings up to what my USAA coverage proves, Leland turned out to be more expensive as well as being far more restrictive. As I have not yet heard of anyone being unhappy with a total loss payment from USAA I plan to stick with them.
Although minute, the chance that a total loss might not be covered by Leland or another collector-type insurance policy because my use on that particular day is deemed to not be covered is simply to high of a risk for me to justify a small potential annual savings. YMMV
#41
If you're insured with a good carrier (Chubb, USAA, etc.), I agree with your logic about collector / agreed value policies.
The better insurance companies should give you fair market value for your car in the event of a total loss without a ton of hassle. That should give you some comfort that you don't need a collector / agreed value policy. Plus, as you point out, a collector / agreed value policy comes with restrictions. There is the risk that a collector car insurer doesn't pay out because, for example, your car was stolen from a location that indicates that you weren't using the car according to terms of the policy. I haven't heard of that happening, but it's a real risk.
Further, because of the rapid increase in 993 prices in the last 12 to 18 months, I've had a hard time getting collector insurers to have adequate agreed value amounts. These collector companies seem to be using very dated pricing services. For example, American Collectors told me they'd insure a hypothetical 50,000 mile 1997 Turbo S for $111,000 on an agreed value policy. In that case, one would be better off insuring with a Chubb or a USAA and going through the process of establishing fair market value at the time of a total loss.
The better insurance companies should give you fair market value for your car in the event of a total loss without a ton of hassle. That should give you some comfort that you don't need a collector / agreed value policy. Plus, as you point out, a collector / agreed value policy comes with restrictions. There is the risk that a collector car insurer doesn't pay out because, for example, your car was stolen from a location that indicates that you weren't using the car according to terms of the policy. I haven't heard of that happening, but it's a real risk.
Further, because of the rapid increase in 993 prices in the last 12 to 18 months, I've had a hard time getting collector insurers to have adequate agreed value amounts. These collector companies seem to be using very dated pricing services. For example, American Collectors told me they'd insure a hypothetical 50,000 mile 1997 Turbo S for $111,000 on an agreed value policy. In that case, one would be better off insuring with a Chubb or a USAA and going through the process of establishing fair market value at the time of a total loss.
My general theory is that insurance actuaries know what they are doing and the only way to get decreased premiums is to accept decreased coverage. I ran a Leland quote yesterday because I too was concerned about what I'd get if my car were declared a total loss by my insurer (USAA). This quote seemed to back my theory.
Although the initial quote from Leland was low I found that once I adjusted all of the other limits (liability, uninsured motorist, medical, etc) from their very low default settings up to what my USAA coverage proves, Leland turned out to be more expensive as well as being far more restrictive. As I have not yet heard of anyone being unhappy with a total loss payment from USAA I plan to stick with them.
Although minute, the chance that a total loss might not be covered by Leland or another collector-type insurance policy because my use on that particular day is deemed to not be covered is simply to high of a risk for me to justify a small potential annual savings. YMMV
Although the initial quote from Leland was low I found that once I adjusted all of the other limits (liability, uninsured motorist, medical, etc) from their very low default settings up to what my USAA coverage proves, Leland turned out to be more expensive as well as being far more restrictive. As I have not yet heard of anyone being unhappy with a total loss payment from USAA I plan to stick with them.
Although minute, the chance that a total loss might not be covered by Leland or another collector-type insurance policy because my use on that particular day is deemed to not be covered is simply to high of a risk for me to justify a small potential annual savings. YMMV
#42
Rennlist Member
yes
#43
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Join Date: Nov 2010
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I have agreed value (Leland) of 82K (max) on my TT. They will go higher if I can produce documentation of actual sales prices to reflect current pricing. In regards to no errands. It's none of their business to decipher what exactly I was doing while damage occured. If I stay under the 3K a year then they will discover any driving I do is "pleasure driving". If I stop at bank,store, ice cream while I am on this pleasure trip, it's none of their business. They can't hold you to any driving from point A to point B and no stops in between. Just don't volunteer that you took a quick trip to the store when someone hit you. You were on a pleasure trip when you were hit. All about how you articulate it, period!
#44
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I have Leland West 97-C4S 77k Miles with AGV of $45K, which I now know is too low for $463 a year. I have 3K miles a year and 2X to work a week. I drive almost exclusively to AX events or other club events and once every 2 weeks to work. It works for me and the deductible were extremely low or non-existent. My previous USAA policy was 1K collision and 0.5K comp. deductible and ~$800 with 3 other cars on the policy.