DodgeViper01
Enthusiast
Finally back with Allstate and happy with them.
Who insures your Viper?
- Thread starter kcobean
- Start date
VENOMAHOLIC
Enthusiast
I am 34 with clean record. State Farm costs me $65/ month and also lets me keep plates on in winter while Viper is officially stored for winter.
gugie911
Enthusiast
Liberty Mutual, 700.00 per year
cyaford
Enthusiast
As explained by my insurance agent, their "guaranteed retail value" on my 1997 B/W GTS will be based on the average retail price of my car(same year, color, etc) over the last 6-12 months. I made sure to ask if this was auction prices, or what I would pay a dealer. The price is what I would pay my local Dodge/Chevy/Ford dealer who had a similar car on the lot. As most people know on this site, you can throw NADA and the KBB out the window when trying to figure out the true retail price on these cars. I paid quite a bit more than the KBB retail price on my Viper.
ChrisXoxide
Enthusiast
I just purchased one and I'll have it in a few days. I got quoted $3300 a year from Travellers insurance, and $3200 with State farm. This is for a 2002 Acura TL-S and the 2002 GTS. I'm 22 years old no accidents, in the suburbs of Philadelphia.
My curiosity is on the "guaranteed retail value". I definately have heard of people getting burned on this. For instance, the insurance company might not see much of a value difference between 15k and 25k miles (from their experience in dealing with other cars).
Defiantely seems like agreed value is the best way to go, but Travellers and state farm don't offer it (I don't think so atleast).
Further discussion?
My curiosity is on the "guaranteed retail value". I definately have heard of people getting burned on this. For instance, the insurance company might not see much of a value difference between 15k and 25k miles (from their experience in dealing with other cars).
Defiantely seems like agreed value is the best way to go, but Travellers and state farm don't offer it (I don't think so atleast).
Further discussion?
ChrisXoxide
Enthusiast
The above referenced quote from Travellers is for:
100/300
100/300 (UM)
100/300 (UND)
100k Prop damage
Comp 500DED
Coll 500DED
Towing
Rental 30days/900miles
I'm planning to pull the Comp/Coll from the Viper during the winter months when I won't drive the car, will save 1000$ per year, pro-rated over the course of dropped coverage time.
$1448 Acura - $1825 Viper GTS
100/300
100/300 (UM)
100/300 (UND)
100k Prop damage
Comp 500DED
Coll 500DED
Towing
Rental 30days/900miles
I'm planning to pull the Comp/Coll from the Viper during the winter months when I won't drive the car, will save 1000$ per year, pro-rated over the course of dropped coverage time.
$1448 Acura - $1825 Viper GTS
Klayfish
Enthusiast
Gauranteed retail value only means that you'll get whatever the Actual Cash Value (ACV) of the car is determined to be. Insurance companies use different methods. Some use NADA and the RedBook, some use an outside service who looks at local ads, dealer lots, overal values, etc.... So the value can fluctuate. It also takes into consideration mileage, options, condition, etc.... Remember, unless you have an endorsement on your policy, your State Farm, Allstate, Travellers, etc... policies only cover the STOCK vehicle. No aftermarket modifications are covered. If the car is totalled, you'll get what the insurance company determines is the true ACV of the vehicle. And that does not mean they will try to "cheat" you out of it's value and lowball. They use whatever documented method they have to come up with ACVs and tell you what it comes out to be. If you feel their evaluation is too low, ask how they came up with it and you're free to show other examples of cars in the area if you think they're wrong. Obviously, the Viper is a different kind of car than an Accord or Camry, so values from a book are not quite as accurate.
If you want to be completely sure of what you'll get, you'll want to find an agreed value policy, where both you and the insurance company agree on what you'd get if the car was totalled.
Chris,
Due to your age, you're very unlikely to find a "cheap" rate anywhere. You probably wouldn't qualify for any of the collector car policies, as many of them require you to be 25 years old. Find out what your "tort option" is on your policy, that can change your rate. I'd also suggest not dropping the comp/coll in the winter, because what if the garage falls on the car, or heaven forbid you have a fire? You'd be stuck.
Steve
If you want to be completely sure of what you'll get, you'll want to find an agreed value policy, where both you and the insurance company agree on what you'd get if the car was totalled.
Chris,
Due to your age, you're very unlikely to find a "cheap" rate anywhere. You probably wouldn't qualify for any of the collector car policies, as many of them require you to be 25 years old. Find out what your "tort option" is on your policy, that can change your rate. I'd also suggest not dropping the comp/coll in the winter, because what if the garage falls on the car, or heaven forbid you have a fire? You'd be stuck.
Steve
Okay, I have been doing some research into this as well.
I live On Long Island and presently have Geico. I have no moving violations or accidents whatsoever in 20 years. I have been paying $1200.00 approx a year. Called Grundys and have been quoted approx $775.00 for my car with recreational use and a 55K agreed value. Have some particulars to go over, but if this pans out it will be a $500.00+ a year difference! Grundy's will quote you a price, but then they send you forms to fill out etc so I'll be reading the fine print carefully, especially as it pertains to "recreational" use. Will advise outcome here.
I live On Long Island and presently have Geico. I have no moving violations or accidents whatsoever in 20 years. I have been paying $1200.00 approx a year. Called Grundys and have been quoted approx $775.00 for my car with recreational use and a 55K agreed value. Have some particulars to go over, but if this pans out it will be a $500.00+ a year difference! Grundy's will quote you a price, but then they send you forms to fill out etc so I'll be reading the fine print carefully, especially as it pertains to "recreational" use. Will advise outcome here.
ChrisXoxide
Enthusiast
Klay - I believe that is covered under my homeowners policy if accounted for. Am I wrong on this?
Even if not, the collision is about 80% of that $1000 equation, and that could be dropped.
Thanks for the lookout Klayfish - and info on "Guaranteed retail value". Its what I was thinking it meant..
I read Grundy's policy, and Haggerties, years ago when I had the RT/10, and it basically made me feel uneasy. If you drive the car to work, or park it at a movie theatre, you might not be covered. I thin kHaggerties said you must be AT your car at all times. Check closely.
Even if not, the collision is about 80% of that $1000 equation, and that could be dropped.
Thanks for the lookout Klayfish - and info on "Guaranteed retail value". Its what I was thinking it meant..
I read Grundy's policy, and Haggerties, years ago when I had the RT/10, and it basically made me feel uneasy. If you drive the car to work, or park it at a movie theatre, you might not be covered. I thin kHaggerties said you must be AT your car at all times. Check closely.
kcobean
Enthusiast
Very interested to hear the outcome of reading the fine print. Thanks Jon.
CitySnake
Enthusiast
I'm with Geico too. I'm very interested in hearing about your findings. Im my one conversation with Hagerty some time ago, they would only insure my Viper with a 3,000 mile annual mileage restriction. They say they that they're lenient with regard to mileage, but I won't take that risk.
CitySnake
Enthusiast
Well I don't qualify since Gundy requires that my household have at least 1 additional car for every driver, i.e., there's 2 drivers in my household (wife and I ) and we would need to own 2 cars plus the Viper to insure the Viper.
So, Gundy is out for me.
So, Gundy is out for me.
RainMaker
Enthusiast
Hagerty is great if you plan on driving <5k a year.
Klayfish is right, it's going to be hard to get a "reasonable" rate. I had the same problem and opted for AAA, which is still pricey in California.
When insurance agents find out what you drive, they start to salivate!
Klayfish is right, it's going to be hard to get a "reasonable" rate. I had the same problem and opted for AAA, which is still pricey in California.
When insurance agents find out what you drive, they start to salivate!
SYNFULL
Enthusiast
I checked out Grundy and their "web" price cam out to $665 with an agreed value of 45K. I am paying 1,220 to Great American for a "stated value" of 45k and a mileage limit of 3k.
I am going to definately call them and check it out.
Thanks
Gary
I am going to definately call them and check it out.
Thanks
Gary
Newport Viper
Enthusiast
Keep us updated. I am very interested. Thanks!
RoadiJeff
Viper Owner
Just the act of having your credit checked can lower your score.
I suppose so. However, I just received my TransUnion FICO credit report in the mail a few days ago and my score is over 800, with 850 being a perfect score and 760 the cutoff for the lowest interest rate bracket on a loan.
My Safeco policy doesn't have any mileage restrictions or not cover me if I drive it to work or some of the other things I've read about on here. The only restriction is that the Viper is not my primary vehicle.
I suppose so. However, I just received my TransUnion FICO credit report in the mail a few days ago and my score is over 800, with 850 being a perfect score and 760 the cutoff for the lowest interest rate bracket on a loan.
My Safeco policy doesn't have any mileage restrictions or not cover me if I drive it to work or some of the other things I've read about on here. The only restriction is that the Viper is not my primary vehicle.
kcobean
Enthusiast
Bumping this hoping that ViperJon had some fine print details on the Grundy policies for us...
