Dreamstate

My apologies if this has been discussed. A quick search didn't bring up anything for me.

I'm a new owner of a 964. My first Porsche. I haven't had issues with my classic Mercedes cars in the past, but my insurance company is being unreasonable with insuring this particular car.

I have had my cars and property insured through State Farm for ~17 years and have a pretty good relationship with them. However, they are nervous to insure the 964 for some reason. The only way they will insure it is with a $2000 deductible! The monthly premium was good, but the deductible seems very high to me. Has anybody else had this issue? I was used to $300-500.

Seeing as the car will be used for more than just going to shows, I want to be able to insure the car accordingly and have a reasonable deductible. Some people drive with classic insurance, but personally I would be uncomfortable with the risks involved with that.

69gaugeman

Try another insurance company. Any of them will take your money. Just have to find which one will want to screw you the least....

<RANT> Worst thing ever is Ontario insurance. I've lived and insured in BC, Alberta and here. Here sucks. Have to insure my motorcycle for the WHOLE year? For 1200$? In BC I can insure the bike for ANY time period. 1 day, 2 days, 1 month, 125 days. Any time period..... </RANT>

Dreamstate

I absolutely will try another.

Does anybody have any recommendations or good experience with a company or broker?

Dale Gribble

If its not your daily driver, put classic insurance on it. Echelon is really good for that.

Dreamstate

Hmm. I used to daily my old cars, but I won't be doing that with this car. I will look into this.

Bacura

.........my deductible is 5K. Also, insurance agents tell me State Farm is the worst. If something happens they will pay and then dump you.

Dreamstate

State Farm has worked out for me. Two cars written off.. t-boned in my classic benz once, rear ended in my commuter once. They paid and didn't raise the rates. Perhaps due to the years I've been with them.

jago

relationships generally mean zero to the ins cos.
Allstate ditched my homeowners after over 25 yrs
and no claims, despite my also insuring multiple cars, condos and rental properties.
they were 'adjusting risk profiles'
no breaks on getting my 21Yo daughter on her own policy either. the local agents are always subject to corporate dictates.
i dont shop it as cant think other providers any better.

Sir5n

If you have a mortgage...what about the insurance offered by your bank. I've had great pricing, service and claim support with RBC.

Biscuits704

After plenty of shopping around, I found TD were surprisingly good.

Managed to get full coverage with an agreed replacement value for only a few hundred more than they wanted for liability only. Needed an appraisal but Danny hit the spot there!

As for relationships, they don't seem to matter anymore. Only once in recent years did I renew with an existing insurer. My last insurer increased my premium by 13% after only three months.

Adamant1971

Go with RBC or TD, both have better prices and better service than most others.

Just make sure to get a 19a clause in your policy so you covered at your appraised value.

I have had daily drivers, the Porsche and motorcycles insured with them for years and every time I have shopped around the rates from RBC can't be beat. I have heard the same goes for TD.

69gaugeman

Most will.

Unless there was something they found that you didn't disclose, or you only had a 3 month policy (do they even do that?) they cannot change your premium mid year. Only when the policy renews. At least as far as I know.

I was with TD for years with as many as five cars insured at once. I got three tickets within the space of one year and for two years 10 months they didn't give a rats ***. My daughter got hit by another driver and totaled my A4. They dropped me even though two of the tickets would have come off within thirty days of the policy renewal. They even said to me that if I just waited that month then got insurance again, they wouldn't give it to me because I had insurance cancelled. Fvckers.....

Cuda911

I'm very pleased with the terms and rates provided by American Collectors Insurance.

http://www.americancollectors.com/

Telephone: (866) 919-9758

Very helpful people there, give 'em a call.

EDIT: Ah, just noticed that you are Canukian. Maybe they don't cover there.

Torontoworker

That's because you weren't at fault. I've got a low deductible with State Farm but then again, I have a 996 - there are Toyota's worth more.

Biscuits704

I acquired my 951 in April. I already have a vehicle which was insured until July. I sold it the week before I got the 951, so I carried on the same policy, swapping vehicles.

The insurance company calculated my annual premium in April as XXXX, which is what I'd pay if I was starting from scratch. However, since my policy is up for renewal in July, it will be pro-rated for the next three months - essentially XXXX/4.

July rolls around and I was expecting the same annual XXXX as quoted in April, give or take a few bucks - after all it's only been three months. The renewal premium they give me is YYYY, an increase of 13% over XXXX they gave me back in April.

So it wasn't changed mid-year nor a three month policy - it was simply a matter of the annual premium in July being 13% more than it was in April.

Should have been more clear, sorry about that.