Who Insures Your Exotics?

[Mar]

I'm paying $150 per month and someone in the Porsche club was telling me he's paying $150 per year. Is there some secret club I'm not a part of?

[shakalaka]

lol....what. 150 a year is not even plausible.

[The_Rural_Juror]

lol....what. 150 a year is not even plausible.

It is if you paid attention to Marth 30 in high school.

[Team_Mclaren]

If you fall under collectors insurance it can be super cheap. <$500 a year full coverage

[03ozwhip]

I think I'm paying under 500 a year for my lightning

[M.alex]

I'm w/ Hagerty


lol....what. 150 a year is not even plausible.

Maybe depending on year/model/number of vehicles insured with them, etc.

My 02 Z06 costs me $120/yr to insure for full coverage but I've got 12 vehicles with them so they get me in the end

[ExtraSlow]

yes price for one vehicle is not really relevant. If you have (for example) a household with only two drivers, and you insure 5+ vehicles, the 6th one is very cheap. if you have three drivers, and three vehicles, then it doesn't work that way.

[01RedDX]

.

[speedog]

Much more exotic than anything at my place.

[Twin_Cam_Turbo]

Someone I know uses Peace Hills, but has a very high deductible and rates.

[The_Rural_Juror]

yes price for one vehicle is not really relevant. If you have (for example) a household with only two drivers, and you insure 5+ vehicles, the 6th one is very cheap. if you have three drivers, and three vehicles, then it doesn't work that way.

Buying a fleet of Honda Fits will save you insurance on your exotic!

[ExtraSlow]

The Honda Fit was surprisingly expensive to insure. I guess intact knows how Savage it is.

[RX_EVOLV]

I was just complaining to my wife yesterday that our Cayenne is so much more expensive to insure than the other cars (nearly double the 335i)... it sounds like the solution to this is just to buy and insure more cars.

[shakalaka]

Damn I am surprised to hear that those kinda insurance numbers are even possible for a full year on any car. My frickin Moto Guzzi was like $600-$700 for the year.

[rage2]

There's a ton of use and mileage restrictions under collectors insurance. I think Hagerty's is a little more relaxed, which is why everyone goes with them.

If you're having fun in the car in the summer every day, you can't really go with collectors insurance. You need to show you have DD's for every driver in the house, and expectation is you drive it maybe once a week. TD's collector insurance is even worse, you're only allowed to drive it to and from shows, repair shops, etc.

[Xtrema]

The Honda Fit was surprisingly expensive to insure. I guess intact knows how Savage it is.

And now it's a collectible too.

[Masked Bandit]

From the Intact manual:

Definition: My Collector Vehicle
A private passenger vehicle that is used and maintained for hobby purposes, parades, exhibitions and other similar functions, where the vehicle is not used for regular transportation.


So that means NEVER commuting to work, running errands, etc.. It's basically for garage queens, cruisers & show cars.

[shadowz]

There's a ton of use and mileage restrictions under collectors insurance. I think Hagerty's is a little more relaxed, which is why everyone goes with them.

If you're having fun in the car in the summer every day, you can't really go with collectors insurance. You need to show you have DD's for every driver in the house, and expectation is you drive it maybe once a week. TD's collector insurance is even worse, you're only allowed to drive it to and from shows, repair shops, etc.


This. Hagerty's only allows for a small amount of mileage per year, and they really only allow you to drive for meets, shows, or maintenance.

[BavarianBeast]

My 89 E30 and 89 Westfalia are $280/year full coverage for both with intact. R8 is about $2100/year full coverage.

When I drive the classics I’m always on my way to a car show or home from the mechanics...;)

[C4S]

If you have a 1998 Boxster with 300,000 mile .. probably $150 / yr

[Team_Mclaren]

I use Intact for collectors insurance, but i don't have any other vehicles insured with them. it's around $400 a year.

Limit is 5000KM a year, which I barely crack 1000KM....

oh this is on the NSX, which is over 20 years old to make it qualify?!

[88CRX]

Yea I never realized this was a thing. How much for 500km's a year haha

Will be switching over to this next season.

[beyond_ban]

My 89 E30 and 89 Westfalia are $280/year full coverage for both with intact. R8 is about $2100/year full coverage.

When I drive the classics I’m always on my way to a car show or home from the mechanics...;)

I wonder how hard the insurance company would try to deny a claim if you got into an accident downtown mid-week. Is the "mechanic" excuse pretty much a coverall? Burden of proof on the insurance company would be fairly hard to prove i'd think.

[88CRX]

I wonder how hard the insurance company would try to deny a claim if you got into an accident downtown mid-week. Is the "mechanic" excuse pretty much a coverall? Burden of proof on the insurance company would be fairly hard to prove i'd think.

Yea anyone have first hand experience with this.

Meloche Monex is always pushing the "do you drive this vehicle to work".... and the truth is yea like 4-5 times per year. Boom! Its a commuter vehicle.

[Sorath]

GT3 - collectors through intact ~ $700/year 10,000km limit annually edit($500 deductibles) everywhere else its minimum $5000 deductible or 5% of cost of vehicle

[Mar]

Thanks. I have some phone calls to make.

[JfuckinC]

I think I have collectors with intact on my camaro, need to call touchstone and figure it out actually haha

[revelations]

Bill is going to have a sudden influx of emails and calls now .... haha. I definitely have one car that fits this role.

[shakalaka]

Boxsters are exotics now? Or are you talking about your Veloster?

LOL. Dunno how I missed this before. :rofl:

[ThePenIsMightier]

Hagerty is nice because it's reasonable and comes with white gloves service, towing.
But... You're forced into it for 12 months, much like motorcycles. TD MM is more money; but, you can pull it for 6 months/year which may actually be cheaper overall.

[Mar]

Hagerty = $135 per month
Intact = $191 per month

I have zero driving problems so I would get the cheapest rates. Anywhere else?

[nismodrifter]

Td mm

[JordanLotoski]

My GT3RS is maybe 150 a month with Co-operators

[Team_Mclaren]

I have zero driving problems so I would get the cheapest rates.

Not really, also depends if you have anything else with that company or qualify for any other discounts etc.


what "exotic" are you getting insurance for?

[The_Rural_Juror]

His exotic is practically a GT3RS.

[DubSport]

Hagerty is nice because it's reasonable and comes with white gloves service, towing.
But... You're forced into it for 12 months, much like motorcycles. TD MM is more money; but, you can pull it for 6 months/year which may actually be cheaper overall.

Except if you cancel half way through the year they send you a prorated cheque back in the mail.
I’m with them for an old e31 ($360/yr) and it comes with a subscription to what I think is the best car magazine out there, and Full access to classic car valuation tools and reports as well.

[killramos]

His exotic is practically a GT3RS.

It’s pretty obvious he wants it for the Veloster. What a savage classic.

[Mar]

Not really, also depends if you have anything else with that company or qualify for any other discounts etc.


what "exotic" are you getting insurance for?

I want to know whom insures YOUR exotics, I'm looking into it for my Boxster.

[Team_Mclaren]

I want to know whom insures YOUR exotics, I'm looking into it for my Boxster.


Well that's what i mean, I dont think Insurance companies consider a Boxster "exotic".... they might just laught at you and charge you more...

[The_Rural_Juror]

i dont think insurance companies consider a boxster "exotic"....

how..
Dare...
You

[Buster]

I think someone owns a 720s on here, but other than that, I don't think there are any exotic cars on beyond.

[killramos]

I think someone owns a 720s on here, but other than that, I don't think there are any exotic cars on beyond.

:werd:

Same reason X5M’s aren’t supercars

[The_Rural_Juror]

The green car2go is super exotic. How many of those do you see on the road? ¯\_(ツ)_/¯

[Buster]

The green car2go is super exotic. How many of those do you see on the road? ¯\_(ツ)_/¯

you shut your whore mouth!

[The_Rural_Juror]

you shut your whore mouth!

For the record, I have never seen one outside of downtown benz. However, I did see a bronze 720s yesterday and a blue one last week.

[ragu]

GT3 - collectors through intact ~ $700/year 10,000km limit annually edit($500 deductibles) everywhere else its minimum $5000 deductible or 5% of cost of vehicle

What’s the criteria to qualify for collector car insurance? Does it have to be appraised? Be certain age? Etc

[killramos]

A good start would be ensuring it’s a car that you couldn’t walk down to a dealer later this afternoon and drive away with one same day.

[D'z Nutz]

Well that's what i mean, I dont think Insurance companies consider a Boxster "exotic".... they might just laught at you and charge you more...

People talking about exotics and Mar be like

https://img.buzzfeed.com/buzzfeed-static/static/2017-03/14/15/asset/buzzfeed-prod-fastlane-03/anigif_sub-buzz-19028-1489518168-3.gif

[roopi]

What’s the criteria to qualify for collector car insurance? Does it have to be appraised? Be certain age? Etc

https://www.hagerty.ca/insurance/Classic-Car-Insurance/Does-My-Vehicle-Qualify#DriverEligibility

[98brg2d]

Yea anyone have first hand experience with this.

Meloche Monex is always pushing the "do you drive this vehicle to work".... and the truth is yea like 4-5 times per year. Boom! Its a commuter vehicle.

I don't think that's true...I have always had cars insured with TD MM that are on "casual use" and I have always been told that I am allowed to commute in the car one day per week. Other than a short period of time from Feb 2019 to July 2020, I have had a car on "casual use" since 2007. I have always confirmed with them that I can drive to work once a week and that has never changed. Maybe they haven't been telling me the truth but I'm pretty sure it even says this in the renewal paperwork they send every year.

[bjstare]

If a boxster is exotic, then a gt3rs must be a hypercar.

But then what’s a pagani?

[ExtraSlow]

If a boxster is exotic, then a gt3rs must be a hypercar.

But then what’s a pagani?

Sounds like pasta.

[The_Rural_Juror]

an exotic pasta.

[killramos]

An Italian Tortellini filled with German sausage.

[The_Rural_Juror]

That's erotic.

[mrsingh]

This. Hagerty's only allows for a small amount of mileage per year, and they really only allow you to drive for meets, shows, or maintenance.

I had Hagerty for my old Corvette, and I do not remember any crazy restrictions. I told them that I may drive it to work downtown occasionally in the summer, and 2-3000 kms a year. I seem to remember the insurance being around $450 for a year with the car insured for an appraised value.

[cars5431]

Go intact for collector car through alpine. They don’t have the restriction of not being allowed to drive to work, etc just that it’s occasional use and same price as others of less than $500 a year with agreed upon appraised value

[JfuckinC]

Anyone have good suggestion for appraisers? Need to get it done for insurance at some point

[cars5431]

Appreciated vehicle appraisal has done mine previously and coming to redo this week. Ask for Bill. Does a really good job

[Masked Bandit]

Go intact for collector car through alpine. They don’t have the restriction of not being allowed to drive to work, etc just that it’s occasional use

Intact specifically excludes commuting to work or other regular usage.

[The_Rural_Juror]

Intact specifically excludes commuting to work or other regular usage.

Do you handle exotics, sir?

[shakalaka]

Do you handle exotics, sir?

Though not an exotic like the OP's Boxster, but Masked Bandit sorted out my Aston Martin's insurance.

[ragu]

Intact specifically excludes commuting to work or other regular usage.

What do you suggest as the cheapest route? I drive less than 1000km/yr

[The_Rural_Juror]

Though not an exotic like the OP's Boxster, but Masked Bandit sorted out my Aston Martin's insurance.

I was thinking of getting a Civic Type R.

[shakalaka]

I was thinking of getting a Civic Type R.

Hmm woah. Think that might be out of the reach of MB to insure.

[The_Rural_Juror]

Hmm woah. Think that might be out of the reach of MB to insure.

I was afraid of that.

[killramos]

Gonna have to syndicate that out...

[03ozwhip]

Ya i was going to say, I can't drive my exotic Lightning to work through intact. Only 5k a year driving as well, but I do less anyways.

[cars5431]

Intact specifically excludes commuting to work or other regular usage.

Sorry what I meant was I’m 10,000km per year pleasure use but I clarified specific question about taking to work occasionally(1 or twice a month not every day or week) and was not concerns. If you planning on driving multiple times a week not right policy for you. I might drive mine 1 or 2 times a year to work don’t like risk of being stuck in hail storms in Calgary.

[Masked Bandit]

Sorry what I meant was I’m 10,000km per year pleasure use but I clarified specific question about taking to work occasionally(1 or twice a month not every day or week) and was not concerns. If you planning on driving multiple times a week not right policy for you. I might drive mine 1 or 2 times a year to work don’t like risk of being stuck in hail storms in Calgary.

Nope, no commuting of any kind, ever. It's right in the manual. I don't doubt that your guy told you that would be okay, lots of brokers don't want to be a killjoy but it's pretty black & white. I was going to copy the text from the manual but it's actually been down all day. Stupid portal.

[cars5431]

Nope, no commuting of any kind, ever. It's right in the manual. I don't doubt that your guy told you that would be okay, lots of brokers don't want to be a killjoy but it's pretty black & white. I was going to copy the text from the manual but it's actually been down all day. Stupid portal.

Good to know. Thanks for info.

[Twin_Cam_Turbo]

Masked Bandit do you guys deal with Hagerty? I got a quote from them and it’s significantly cheaper for my truck and car as I don’t commute in my own vehicles and do very little mileage for the summer car.

[Masked Bandit]

Masked Bandit do you guys deal with Hagerty? I got a quote from them and it’s significantly cheaper for my truck and car as I don’t commute in my own vehicles and do very little mileage for the summer car.

No to Hagerty but we use a different underwriter for the same basic idea.

[SKR]

I've got my exotic GMCs on collector insurance and I'm only supposed to drive them for pleasure. Normally I use them just to drive around town, wave to my friends and impress people. What happens if I take one to work one day and crash into a bus full of nuns? Does the insurance company send Johnny Dollar out to investigate? I don't know how they'd prove what I was using my exotic for that day.

94651

[ExtraSlow]

Well, what if it gets written off by a hit and run in your work parking lot? I'd say it's not really worth trying to scam that system.

[SKR]

I didn't mean that I was looking for ways to not get caught. I just wonder how it's enforced. I know that in a fictional radio show from the 1950s insurance companies would send out an investigator to get to the bottom of claims. I don't know if there's a real Johnny Dollar in 2020.

[revelations]

I didn't mean that I was looking for ways to not get caught. I just wonder how it's enforced. I know that in a fictional radio show from the 1950s insurance companies would send out an investigator to get to the bottom of claims. I don't know if there's a real Johnny Dollar in 2020.

The big companies definitely hire PIs to verify some bodily injury claims (eg. person who is bedridden 24/7 due to back injury is out going to costco and lifting heavy bags).

[ExtraSlow]

I would think a percentage of all claims get investigated to some extent. Fraud prevention is a core part of an insurance companies business. Now, how many claims, and how they choose those claims is probably a secret. I'd bet there's some kind of algorithm for claims that get investigated.

[Masked Bandit]

I'll save you all the speculation. The answer is yes.

[revelations]

Just moved my 2 summer vehicles to Hagerty. I was switching the insurance on and off too much (parked vs. not parked) and also can save quite a bit.

The restrictions were max HP (600 I think) no roll cages, engine max performance increase of 50hp and they wanted photos of the vehicle, and the engine bay specifically in my 2g eclipse (these cars can have their HP doubled).
They also allow occasional driving to work. They also wanted details about a DD for myself and my wife.

Otherwise, its nice to have full coverage year round, so with early spring like this I can whip out the summer car for a short while without the constant on/off coverage.

Bill also cautioned the underwriter (Aviva) was known for some shady tactics. Has anyone heard of this with Hagerty?

[JfuckinC]

Just moved my 2 summer vehicles to Hagerty. I was switching the insurance on and off too much (parked vs. not parked) and also can save quite a bit.

The restrictions were max HP (600 I think) no roll cages, engine max performance increase of 50hp and they wanted photos of the vehicle, and the engine bay specifically in my 2g eclipse (these cars can have their HP doubled).
They also allow occasional driving to work. They also wanted details about a DD for myself and my wife.

Otherwise, its nice to have full coverage year round, so with early spring like this I can whip out the summer car for a short while without the constant on/off coverage.

Bill also cautioned the underwriter (Aviva) was known for some shady tactics. Has anyone heard of this with Hagerty?

GSX? Pics?

[revelations]

GSX? Pics?

GST spyder - the convertible part was what I was after (didnt care specifically about AWD). Nothing special about the car thats worth posting.

[SSO]

We use Cincinnati, was with Chubb before but they kept raising the premiums every year despite zero claims.

[zieg]

What about RV conversions? People buy ambulances, buses etc and convert them to RVs but finding a good place to insure them can be a challenge. Some places won't define it as an RV unless it has a bed, bathroom and either a fridge or stove, others seem way less stringent.

[dromz]

I insured with Hagerty for 15 years, never had a claim but they seems decent to deal with.

[B.Spilner]

Hagerty for 6 years now, no claims but extremely easy people to deal with.

[Mar]

Well that's what i mean, I dont think Insurance companies consider a Boxster "exotic".... they might just laught at you and charge you more...

That's not what I meant. I'm trying to figure out which company insures your exotic Mclarens and 911s. I would phone them and see if similar rates could apply to my Boxster, I never implied mine is an exotic. That's why I was trying to get the point across that I'm trying to find out whom insures YOUR exotics, then I can find out what I can get at a similar value from them.

[revelations]

What about RV conversions? People buy ambulances, buses etc and convert them to RVs but finding a good place to insure them can be a challenge. Some places won't define it as an RV unless it has a bed, bathroom and either a fridge or stove, others seem way less stringent.

I get the sense they dont do these - anything super modded. However, worse you do is apply online and see what they quote you.