Better insurance coverage. Whats my options?

[fiveoho]

my car is still slow and no where near a show car but somehow with all the parts, i have over $11,000 in the thing ( counting cost of the car, tax, tires, everything ). i have had liability coverage since i have had it. for my 94 accord and my 95 GT, i pay $400 every 6 months. both with liability ( insurance company: farm bureau ). even if i put full coverage on the mustang, if it totals out i will only get their book value on the car. which im sure is somewhere between 4500 and 6000. the premium goes up to $787 every 6 months with full on the mustang and liability on the honda ( $687/gt $100/honda ). i can justify spending that much if i only get back 1/2 of what i have in the car.

theres a company called american national here in my local town. there, i can put a agreed value on the car ( with a 7,000 mileage limitation per yr ) and pay a premium based on that. if the car is wrecked beyond repair, the company writes a check to the owner of the agreed value amount. to do this, you must insure two vehicles with the company. my quote was for a agreed value of $10,000 on the mustang which also included full coverage ($500 ded) and liability on the honda ($1000 ded). it was $987 every 6 months. i cant afford that.

are there any other options out there ? i would feel so much more confident putting money into my car if i knew i was covered if something did happen.


thanks

 

[Bosko5.0]

I pay around 980 for full coverage. but it has already paid for its self. plus all the towing i got for free. thats with state farm. with 2 tickets on my record+ one accident(minor)

 

[fiveoho]

i got one ticket on mine. the current company i am with now has not seen this on my record ( i got this back in may of 06 ). i actually asked them about it and they said sometimes they just do not show up. however the american national company did see it when i got my quote, which drove my premium way up. he said they will stop seeing it as of may of 2009.

i also turn the magic number of 25 in september of this year. both companies said it will drop some then as well



surely there are other companies out there that offer specific coverage for modified cars ( that arent antique )

 

[Bosko5.0]

I might see if I can get it lower since I have an alarm system, and maybe getting lo-jack.
When I hit 21 it dropped which I though was funny.

 

[fiveoho]

do you guys just put standard full coverage on your car?

i called progressive today and worked up a quote and i asked the rep what is the car valued at as progressive see's it. she said that would only be determined at the time of a accident/claim. i asked her what standard they used to determine a cars value. she said that i could check KBB, NADA and bank values. i told her there was right at $2,000 difference in the NADA and KBB value on my car. she could not give me answer and actually got somewhat hateful. she said there was no way for her to contact the claims office to get a answer to my question. i told her i was not about to become a customer of theirs if they cant even tell me what standard they use to value a car. finally, i spoke with a another rep. he said they use KBB. i checked the value. Excellent condition is $4,115

just some food for thought when checking a policy for your stang, or any other car. be sure you have a idea of what they value the car at.

on a side note, progressive's customer service kinda sucks

 

[Car Nut]

I'm working with State Farm on this very thing and they have no issue increasing the value to a higher amount, so long as I pay the higher premiums.

Check my sig below........stuff adds up. My mods are worth more than the car itself.

Later this year or next year, major engine work will be done (either h/c/i alone or h/c/i and shortblock or some mild blown combo). The engine stuff and extra related parts will cost anywhere from $4K to over $10K. I'm not about to drive the car around with that sort of investment in it and not be covered by insurance.

If you've got receipts and whatnot, your insurance company should be able to help you out and get you covered properly.

 

[inphiniti]

man i would LOVE to pay that every 6 months... i got Progressive here in RI and im @ $1,700ish every year just liability...

 

[95BlueStallion]

I love Iowa, cause full coverage on my car is $312 every six months. That of course, is only up to the NADA value of the car in stock form. I have a few tickets and an OWI from a few years back...

 

[fiveoho]

man i would LOVE to pay that every 6 months... i got Progressive here in RI and im @ $1,700ish every year just liability...

 

[fiveoho]

I love Iowa, cause full coverage on my car is $312 every six months. That of course, is only up to the NADA value of the car in stock form. I have a few tickets and an OWI from a few years back...

i called again to my current insurance company and talked with the president. $750/6 months for full JUST on the mustang ( not counting the honda ). he said when i turn 25 in sept of this year it will drop to $450/6 months. i had no idea the drop would be that drastic. still, all in all im in the same pickle...if the car is totaled i get book. $4,115


btw 95 blue, u got a hi res pic of that car of yours? for some reason that purple and thos wheels just pop. also, we have VERY simliar mods. i have a TFS street heat collecting dust that i have yet to put on. did you notice a difference with yours? also, any dyno numbers or track times?

 

[pro II]

Try www.grundy.com

 

[inphiniti]

yeah, about $175 a month. i guess my reasoning is that im 21, with a sports car, a speedin ticket, and an accident. one accident came off my record in july and caused my insurance to drop to that. before that it was 308/month. and i just recently backed into someone about 2 months ago, so waiting for them to readjust my insurance