Barret Jackson not such a good deal anymore..

[PDCjonny]

I got an incredible rate from BJ (Chartis) last year on my cars and am fully expecting it to be a lot more come this November when it comes up for renewal.
I think they were trying to make a splash in the collector car insurance game and threw some really cheap rates out there and were inundated to the point they stopped writing policies on some cars.

 

[Wayne64SS]

WIth my recent 97 GTS purchase I called Hagerty and got the usual BS and hassle along with inflated price that I usually get from them. $1800 a year for 45k AGV and my record is immaculate. Grundy told me low $7xx for the exact same policy, but my regular insurance (Allstate house cars everything) only increased my rates $7mo over my prior 03 Cobra rates. Car still KBBs for like 48k so whats the point of collector insurance? Unless of course I'm missing something....

 

[DeceptioN]

Makes me feel like I'm paying too much. Paying $2880 a year for an 02 Mustang and 06 Viper. I'm going through USAA :-/

 

[Black Moon]

Chartis is the company as someone stated. No affiliation with BJ. Kind of like Mario endorsing Dynomax muffler. Hadn't heard their rates went up. Hope I can still do Viper and Vette for under $500.

 

[Mopar Steve]

I am a long time State Farm client as others have stated. I have a 97 B&W GTS and pay $382 per year. 250/500/250 coverage with a $500 deductable, stated value as well. I beleive the only restriction is 5000 miles per year which isn't a problem for me since I spread my "playtime" driving over all my cars.

Just my $.02 for the discussion.

This may possibly be one of the biggest misconceptions in insurance. Stated value is only what the policy reads as a maximum coverage. Agreed value is the better policy, it pays exactly the amount of the policy. Stated value will depreciate over time, and can (and will be) negotiated at the time of a total loss by the insurance company. Agreed value policy pays the agreed amount without depreciation or negotiation. Be careful, be very careful. Many agents don't even understand the difference. I am not an insurance expert, but this is something I have looked into with detail.

 

[PDCjonny]

I have my 09 ACR with BJ agreed value 110K. I have my 97 GTS with BJ agreed value 60K.
Combined they are less that $1000.00 per year. With Grundy they were $2400.00.

 

[latamud]

Makes me feel like I'm paying too much. Paying $2880 a year for an 02 Mustang and 06 Viper. I'm going through USAA :-/

It's probably your age and location. I'm using USAA too and a year for my 06 BMW 325i and the 03 Viper is $1230. While I'm away I have the Viper under a "in-storage" policy, $135 for 6 months. The Barracuda, Falcon and the Mustang are also under the in-storage policy, $24 each for 6 months. When I made SSgt they lowered my premiums. I also have my home owners insurance with them and I think that helps with the auto insurance discounts.

 

[johniew398]

Glad it worked out and VERY glad you did not choose USAA.....

Just curious why you were glad he didn't choose USAA. I have been with them since 1978. I have had four claims, hail damage on a house and two trucks plus they paid to replace two Viper ACR wheels when I struck a curb. No hassle, in fact I would have bet they wouldn't have covered the wheels.

How much do I pay? I pay about $4k for a 2010 GMC 4/4 Sierra, 2009 ZR1, 2008 ACR and 2001 BMW 540i. That is $4k before they pay the dividend of $300.00 - $400.00 per year.

 

[xlrashn]

This may possibly be one of the biggest misconceptions in insurance. Stated value is only what the policy reads as a maximum coverage. Agreed value is the better policy, it pays exactly the amount of the policy. Stated value will depreciate over time, and can (and will be) negotiated at the time of a total loss by the insurance company. Agreed value policy pays the agreed amount without depreciation or negotiation. Be careful, be very careful. Many agents don't even understand the difference. I am not an insurance expert, but this is something I have looked into with detail.

I totally agree that this is misunderstood in genneral, I too did alot of research and based on what I am comfortable with I went this route. Each owner needs to research and make their decision on what they are comfortable with.

 

[vipertanz]

I tried Hagerty first, but because I live in MA, had 1 or 2 tickets on my record and the fact I drive my car 6k miles a year they denied me.

My father was actually browsing the web after I told him I was considering Grundy and found some things and was telling me about it. From what I can remember, something about a guy filling out the paperwork giving his credit card# and them agreeing on a value and then later Grundy coming back saying that after talking with their management they were unable to go by what they originally agreed on, but already took money from his account, which resulted in an ongoing process for the guy to get his money back and him getting some, but not all of it.. I don't fully remember, since there were some other stories too. But I would like to use them if others recommend them, since they do seem to be a good company. Just some of that stuff worried me, so I figured I'd ask how other's experiences were with them.

Pretty standard for an insurance co to have an application period for underwriters to reveiw the information which sometimes will cause changes to the quoted premium.

 

[STUGOTS]

not an agreed policy but I got my snake for $268 every 6 months with geico, $500 deductable

 

[Lespauldude]

GOOD LORD!! Just got a quote from Barrett Jackson on my 09 vert. $1,939.00 with a mileage limit of 3k. ***??!! Hagerty was only a few bucks behind that figure as well. Grundy came back to me with $1,065 and unlimited mileage - agreed upon value of 73k liability of $500k. My own insurer (Liberty Mutual) could only do $1,655.00. Slim pickings out there............................

 

[daytonprowler]

Odd.... mine went down. I just renewed my policy with Barrett Jackson Insurance 3 weeks ago. Viper, Prowler, Shelby Mustang, Shelby Dodge, '69 Barrucuda Mod Top, $800 total annual premium, last year was $804. Maybe it's the state you are in. ?

 

[PDCjonny]

I heard they are not giving those amazing rates anymore, they got inundated last go round.
Mine are coming up for renewal in February will be interesting to see what happens.
My rate did not go up when I switched from an '09 to a '10 with slightly higher agreed value.

 

[Jay M]

Before I got the Viper I had Chubb with Agreed value. With every company I called the agent told me that agreed value was available, but when pressed them to verify it, it turned out that all they had to offer was declared value.

I had $40,000 agreed value on my '68 Corvette for just under $1000 per year. When I wanted to add the '04 Viper a few months ago they insisted that agreed should be $78,000 with a rate of nearly $2000 per year. I told that I only paid about half of that for the car. The agent said that I couldn't insure the car for less than that ant that they only offer agreed value. Now I'm with Met Life and pay around $1000 per year with the multi-car discount (3 cars).

Be careful not to talk about you driving habits here if you have collector car insurance. Before I had Chubb on the Corvette, Aon dropped me after reading one of my posts on the Corvette forum even though I made sure the agent knew exactly how I intended to use the car.

Be very careful when an agent claims that you have agreed value insurance. In most cases you really do not. When you read the fine print you will see that it is really declared value which is no different than ACV (actual cash value). If the car is totaled or stolen, your declared value meaningless. The value will be determined the same as with any other used car.

~Jay

 

[01sapphirebob]

Odd.... mine went down. I just renewed my policy with Barrett Jackson Insurance 3 weeks ago. Viper, Prowler, Shelby Mustang, Shelby Dodge, '69 Barrucuda Mod Top, $800 total annual premium, last year was $804. Maybe it's the state you are in. ?

That's what I'm hoping. I believe mine is up in feburary.

 

[STUGOTS]

am I missing something? why is it my vette is $221 for 6 months and my viper just a hair more, what is it that I DONT have if you guys are quoted at 1900?

 

[01sapphirebob]

am I missing something? why is it my vette is $221 for 6 months and my viper just a hair more, what is it that I DONT have if you guys are quoted at 1900?

They might have been giving out low quotes to drive in business but I think their rates have gone up. Hopefully they keep the people that got in early at the lower rates.

 

[2001-V10 Power Nut]

I just, today, switched from State Farm to "Travelers" insurance and saved a ton. State farm is a total rip off, at least it was for me here in Florida.

 

[Red Snake]

Just renewed my BJ Chartis policy for Viper and Vette and it stayed the same incredibly low rate that I got initially last year.

 

[Lespauldude]

This is the breakout of the quote sent to me by BJ:

Kings Park, NY 11754
2009 VIPER (DODGE) SRT-10 ROADSTER
$1,939.00 Total Policy PremuimDELRISK INC
1440 ARROWHEAD DR
(419)891-9999

Coverage Description Limit/Deductible Premium
Personal Injury Protection $50,000/$0 $ 14.00
Supplementary Uninsured/Underinsured Motorist * $100,000/$300,000 $ 29.00
Collision Agreed Value $73,000/$0 $ 756.00
Other Than Collision Agreed Value $73,000/$0 $ 1,047.00
Property Damage Liability $100,000 $ 14.00
Nationwide Roadside Assistance $200 $ 10.00
Additional Spare Parts $2,500 $ 6.00
Supplemental Spousal Liability $ 2.00
Bodily Injury Liability $100,000/$300,000 $ 41.00
Optional Basic Economic Loss $25,000 $ 10.00
Trip Interruption Coverage $150/$600 $ 0.00
Full Safety Glass $ 0.00
TAXES/FEES APPLIED
New York Motor Vehicle Law Enforcement Fee $10.00
DISCOUNTS/SURCHARGES APPLIED

 

[PDCjonny]

Geez Grundy was way less than that.
They have obviously stopped writing the aggressive policies to get more business.

 

[WAM]

Just renewed my Barret Jackson policy on my 2003 Viper. $43,000 agreed value. $242 for the year which is the same amount I paid last year.

 

[STUGOTS]

Wam now THATS a great rate

 

[Lespauldude]

Just called a local Chartis Private Client Group agent. Will be looking into a policy with them tomorrow morning. She told me that they send out quote requests to a list of underwriters and go with the best rate. I'll let you know how it goes. $2k/year from BJ is rediculous......