Insurance For Gt

J

Jim Bronson

Member

Aug 8, 2016

23

2

13

Oct 1, 2016

#1

• Oct 1, 2016

• #1

I've been quoted $842/6 months for full coverage, including 500 deductible collision and comprehensive with roadside assistance and all the legally required limits. It also includes $10K medical insurance.

I'm wondering whether this sounds right for a 2017 GT Premium. I have my homeowners policy and a motorcycle policy with them and get all the safe driving discounts they offer.

It seems kinda high to me.

 

S

Stan McKinney

Member

Jun 3, 2015

78

4

18

Oct 1, 2016

#2

• Oct 1, 2016

• #2

Depends on your age and driving record. What do you mean by $10k medical insurance

 

J

Jim Bronson

Member

Aug 8, 2016

23

2

13

Oct 1, 2016

#3

• Oct 1, 2016

• #3

That coverage pays medical bills up to 10K, regardless of who is at fault. This would be in addition to the bodily injury payments that the other party's insurance should pay if it was their fault, except that it would be paid promptly. The premium for this is a very small fraction of the total premium.

 

15GTrob

5 Year Member

Aug 23, 2015

450

126

83

Oct 12, 2016

#4

• Oct 12, 2016

• #4

Sounds about right to me.

 

Dallas Mustang

Active User

Jul 26, 2016

41

5

18

Dallas, TX

Oct 17, 2016

#5

• Oct 17, 2016

• #5

That sounds about average for that car.

 

J

Jim Bronson

Member

Aug 8, 2016

23

2

13

Oct 17, 2016

#6

• Oct 17, 2016

• #6

I went for the State Farm policy. Geico offered a lower premium, but they aren't rated as high in claims service. I remember when my truck was stolen ten years ago, State Farm settled quickly, and gave me more than I expected. They even delivered the check to my office.

 

84Ttop

They make new pistons every day, so why worry?

5 Year Member

Jul 2, 2009

5,222

3,254

204

South Jersey

Oct 21, 2016

#7

• Oct 21, 2016

• #7

I have an agreed value policy in place for all of my vehicles, the current annual cost through Grundy is roughly 1,400$ in total. I am 33 with a spotless driving record in New Jersey
2015 Mustang GT - agreed value 43,000$
1985 Mustang GT - agreed value 8,500$
1984 Mustang LX - agreed value 40,000$
1966 Galaxie 500 - agreed value 26,000$
There is a zero dollar deductible on all the vehicles and I am insured well above the state minimums (the specifics escape me at the moment). The only qualification required to get the agreed value was one collector car (66' Galaxie) and the rest was added to the policy with no questions, I simply submitted the required pictures. There are no mileage restrictions or usage restrictions on any vehicle, I did however have to sign a waiver for the 84' as we race the car stating that it will not be covered in the event of an accident that happens between the walls of the race track..

FWIW, my pickup truck is insured through my business due to being registered as a commercial vehicle.

Just food for thought, there is always a better way to skin a cat and this has worked very well for me for a number of years now.

 

S

Stan McKinney

Member

Jun 3, 2015

78

4

18

Nov 1, 2016

#8

• Nov 1, 2016

• #8

$40,000 for a 1984 Mustang LX?

 

Farrell5.0

Not sure what "DP" means, but know's he likes it!

15 Year Member

Feb 15, 2012

353

299

104

Vancouver, WA

Nov 2, 2016

#9

• Nov 2, 2016

• #9

Stan McKinney said:

$40,000 for a 1984 Mustang LX?

Click to expand...

This ain't your grandma's 84 lx lol

 

Reactions: 84Ttop

Mustang5L5

That is…until I whipped out my Bissell

Mod Dude

Feb 18, 2001

43,220

17,902

224

Massachusetts

Nov 2, 2016

#10

• Nov 2, 2016

• #10

It's going to depend heavily on factors that you really haven't provided. Age, marital status, where you are located, etc.

From my perspective, that's cheap. Before I put my '88 on collector car insurance, I was paying $1800/year for that. I pay $300/year for collector insurance now.

When I bought a new 2003 GT at age 25, I paid about $2200/year. That's with a spotless record. I just happened to live in an area where high insurance cost is the norm.

If I got a quote for $1700/year for a 2017 GT I'd probably do a cartwheel in joy.

 

J

Jim Bronson

Member

Aug 8, 2016

23

2

13

Nov 3, 2016

#11

• Nov 3, 2016

• #11

Divorced, retired, San Diego. They revised the quote to 523/six months. I'll take it.

 

broncojunkie

Active Member

Apr 12, 2014

92

24

29

Nov 4, 2016

#12

• Nov 4, 2016

• #12

I had Geico for years and they were quite a bit cheaper than most. When we bought our last house, we were getting outrageous quotes from everyone for homeowners, so we started looking at combining home and auto. No one could touch Erie in home or auto...not even close. We have a 2016 Tacoma and 2 older Mustangs on the policy currently. When I called Geico to cancel our auto, they tried to match it. The guy laughed and didn't believe the Erie amounts I told him. Said he couldn't even come close.

 

84Ttop

They make new pistons every day, so why worry?

5 Year Member

Jul 2, 2009

5,222

3,254

204

South Jersey

Nov 4, 2016

#13

• Nov 4, 2016

• #13

Stan McKinney said:

$40,000 for a 1984 Mustang LX?

Click to expand...

 

Reactions: Farrell5.0 and Mustang5L5

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TheBlueRider

New Member

Dec 14, 2016

4

0

1

Dec 14, 2016

#14

• Dec 14, 2016

• #14

I pay 70 a month on my 17 gt.

 

echo7

10 Year Member

Mar 30, 2005

706

41

59

FL

Dec 22, 2016

#15

• Dec 22, 2016

• #15

I was paying about $420/6mon at statefarm, then when I got divorced, it went up to almost $530/6mon. Just this past week I got an identical coverage plan at Allstate for about $407/6mon. Full coverage, 1k both deductibles, 50k/100k thing. I'll have to put one of those ODB sensors on to get a 10% discount. After my first 6 months, that goes away, and i get a 0-30% discount depending on my driving was. She assured me I can't be hurt by the driving monitor, lol. So figured, what the hell.

 

L

lowround64

Member

Dec 27, 2016

9

2

13

Dec 29, 2016

#16

• Dec 29, 2016

• #16

Good lord. All those sound high. I have a premium policy with travelers and only pay $334 for 6 months for a 2016 gt premium. However its in alabama, and clear driving record with cdl.

 

Adieu

Easy there, this ain't a dating site.

20+ Year Stangneter

Mar 7, 2002

9,531

5,187

224

Dec 31, 2016

#17

• Dec 31, 2016

• #17

32 single, no kids, State Farm for the F150 and Mustang II is $127/month. It went down when my daily drivers were S197 Mustang GTs instead of a pickup ($10/month cheaper with a Mustang than either my F150 or Ram).

Stan McKinney said:

$40,000 for a 1984 Mustang LX?

Click to expand...

Agreed value coverage isn't about what the car is worth if you sell it, it's about replacement cost. If I sold my Mustang II right now I'd get $6000 for it give or take a bit. To replace it if it was stolen would cost close to $20k due to the amount of money invested in the engine, transmission, EFI system, interior, and wheels/tires.

 

Last edited: Dec 31, 2016

Mustang5L5

That is…until I whipped out my Bissell

Mod Dude

Feb 18, 2001

43,220

17,902

224

Massachusetts

Dec 31, 2016

#18

• Dec 31, 2016

• #18

74stang2togo said:

Agreed value coverage isn't about what the car is worth if you sell it, it's about replacement cost. If I sold my Mustang II right now I'd get $6000 for it give or take a bit. To replace it if it was stolen would cost close to $20k due to the amount of money invested in the engine, transmission, EFI system, interior, and wheels/tires.

Click to expand...

Yup, that's key to point out. I need to readjust my value as well next time I'm up for renewal