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Insuring your collector car

Started by fishnjim, March 24, 2023, 02:44:06 PM

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fishnjim

With all this inflation, out of control spending, etc. the insurance co.s are trying their best to raise prices - a lot.   If we don't resist, then it'll just continue to go up and "bake in" at the higher levels.   My good neighbor tried to get more for the 58 Cad which sat in the garage most of last year, so I went to another co. policy for less than half the old price.   Today, they tried to shift that increase onto another of my policies, so cancellation #2.  The "excuse" was I had insurance with someone else?  What's this world coming too?  Just because everyone else is looney and distracted, is no reason to assume I am.
RESIST any and all price increases or get prepared to pay through the nose for the duration.  A certain individual wants another term to "complete" the job.  We can't even stand the quarter way point!  eg: I had to buy some touch paint for the tractor welding work I did, $16 for a $4 can of spray paint now?
My risk has actually fallen, but my insurance has gone way up.  My "new" car is $10K less cost and at one year @ 3100 miles.  So what planet are these people on?   The planet "Greed"!

billyoung

It gets worse. I have noticed that the car lots are jammed with these way overpriced cars though. Resisting is great I don't know what eventually we are going to do?, I am 68 and working full time again now. Not because I have nothing I would rather do with my time. I thought by now I could do what I wanted to do after spending my life doing what everyone else wanted me to do. Sorry for the rant.
Age 68, Living in Gods waiting room ( Florida ) Owned over 40 Old Cadillac's from 1955's to 1990 Brougham's. Currently own a 1968 Cadillac DeVille Convertible and a 1992 Cadillac 5.7 Brougham.

cadillac ken

Quote from: fishnjim on March 24, 2023, 02:44:06 PMWith all this inflation, out of control spending, etc. the insurance co.s are trying their best to raise prices - a lot.  If we don't resist, then it'll just continue to go up and "bake in" at the higher levels.  My good neighbor tried to get more for the 58 Cad which sat in the garage most of last year, so I went to another co. policy for less than half the old price.  Today, they tried to shift that increase onto another of my policies, so cancellation #2.  The "excuse" was I had insurance with someone else?  What's this world coming too?  Just because everyone else is looney and distracted, is no reason to assume I am.
RESIST any and all price increases or get prepared to pay through the nose for the duration.  A certain individual wants another term to "complete" the job.  We can't even stand the quarter way point!  eg: I had to buy some touch paint for the tractor welding work I did, $16 for a $4 can of spray paint now?
My risk has actually fallen, but my insurance has gone way up.  My "new" car is $10K less cost and at one year @ 3100 miles.  So what planet are these people on?  The planet "Greed"!

We all feel the pain. Not only do we have the same going on here in Florida for car insurance but my home insurance went up 100% this year (and considering I just had a new roof installed 3 months ago).  My business building insurance went up 100% too (with a new roof installed 3 years ago).

Our governor seems too distracted with his pet causes-- that I have no concern for-- while in-state insurance costs are spiraling out of control.

But like you stated, folks allow themselves to be distracted as the greed goes unabated.

z3skybolt

#3
HAGERTY INSURANCE for your collector car.  I pay a very,very,small premium for my "driver quality" LaSalle: insured for $32,000.00

When I totaled my  "show quality" LaSalle three years ago.....Hagerty paid 100% of the insured value, paid for the tow in of the wreck and paid $1,500.00 for the farmer's damaged fence and "precious" tree which I knocked down.

They even sympathized and mourned my loss.  Almost like a friend.

Bob R.IMG_2007.JPG
1940 LaSalle 5227 Coupe(purchased May 2016)
1985 Lincoln Town Car Signature Series. Bought New.

fishnjim

Sorry to open old wounds, not my intention, but my message was to "push back" on price increases or get used to them long term.  Silence is acceptance.   
I tried to keep names out of it, just hints.
The insane excuses for it is what irks me.  If you cancel a policy, you cancel a policy and go with someone else, that's not an invitation for the former policy holder to charge you for it anyway?  Sore losers...  How many don't look and just pay...what they hope for.
It's unfortunately not just occurring in insurance.  eg; "always low prices" has become "always increasing prices".   
Famous old line; There's profit in chaos.

Cadman-iac

  Jim,
I'm with you, I think the insurance industry is out to screw the country.
I've seen it somewhat in my car insurance policies, but where they are really sticking it to us is our homeowners policy. Mine has been going up a few hundred bucks for the last few years, but this time it went up over $1000.00 for the year, and I've  never had a single claim.
What they are doing is making the rest of us pay for what's happening in California, Florida, Louisiana, and everywhere else that bad weather has been wreaking havoc. And I'm sure that they are jacking car insurance for the same reasons too. Too many claims for those regions and they are having to cut back on their personal bonuses, the sorry A$$holes!!
Between the weather, and how much they're paying for all these dumba$$ commercials that we are being bombarded with, it's no wonder we're all paying more.
 It's also been on the news recently about skyrocketing policy prices. They're claiming that it's due to higher repair costs, and replacement costs. How about they not pay any bonuses to their executives and save their customers some freaking money!! After all, don't they make enough in salaries? I'm sure that they are making WAAAAAY more than the average American does.
This is my opinion, but I'm fairly certain that it's all true.

Rick
CLC# 32373
1956 Coupe Deville A/C car "Norma Jean"

billyoung

I agree with Richard Cook regarding incredibly high compensation for executives, frequently I see pleas for money by organizations that sound like good causes. I have taken to Looking up the CEO's salary on the internet first, When I see the person makes hundreds of thousands a year I don't donate. I figure if they can afford to pay some fat cat all that money every year they don't need money from some shlep who is on Social Security and a small Pension and still needs to drive a dump truck full time to make ends meet. One Mans Opinion
Age 68, Living in Gods waiting room ( Florida ) Owned over 40 Old Cadillac's from 1955's to 1990 Brougham's. Currently own a 1968 Cadillac DeVille Convertible and a 1992 Cadillac 5.7 Brougham.