Insurance too expensive

[smorgasbird]

I'll be getting my '61 out of storage soon, and I need insurance. For years I insured the bird with Hagerty, but last year they really raised my rates. No accidents, no tickets, just Michigan politics.
The state raised the "uninsured drivers" fee substantially, so I get to pay for their insurance too. I drive the '61 less than 1,000 miles a year and it sits in storage from early November until April every year. Yet Hagerty raised my rate to almost $500 a year! So I dropped them. Nice magazine, but I hate being ripped off!
All I want is medical coverage. I just want to drive it! If the car gets wrecked I'll fix it myself- I just don't trust other people to work on my car. If it gets totaled I'll part it out or buy another. Am I asking so much?
OK, I'm done ranting. Can anyone here recommend a good inexpensive insurance company? Or is Hagerty charging about normal? Hey, if insurance is cheaper in a warmer state, I'd be more than willing to move! Although I love old cars, especially my T-Bird, it may be getting to be too expensive to continue.

[ICON 1956]

Have you considered just having storage insurance since you have your bird put away 6 month out of the year, I have State Farm I when I insured my 61 bird it would cost me $93.26 every six months full coverage ! also my 1965 Mustang is $85.83 for six months full coverage.. All my cars and motorcycles are insured with State Farm maybe I have a Fleet discount LOL!

[BobHH]

I have Infinity Insurance Company for my Bird. I have it covered for $20K no matter whose fault due to it’s not restored yet. Must be stored under lock and key and driver no more that 1200 miles a year I think. I pay $125.00 year.

[Sierra John]

I agree with ICON1961. State Farm has been good. I have full coverage, and it's only $75, more or less, every six months.

[abaucom]

Shop around however lowest price does not = best service when you need it. Understand rates based on your city, neighborhood, and where you park your collectable when not in use. Best advice I can give is get to know your insurance agent so he or she understands how you use your auto.

Had been with State Farm for over 25 years but just recently State Farm accounts in Ontario bought out by a Canadian insurance company...but I still have the same agent who happens to be a car guy. Agent understands my auto usage. Just today I visited my agent to drop off the recent Canadian appraisal requested since my replacement value was based on what I paid for the auto in USD last Nov. ($30,000 USD). At $30,000 USD value was only paying about $20.00 USD a month for full coverage and replacement value. With the new appraisal, appears I was grossly under insured, but after meeting one-on-one with my agent doubt my increased replacement insurance will be more than $25.00 USD per month (about $39,000 USD replacement value).

Bottom line talk to your insurance agent. About two years ago I saw a massive insurance increase on my 2011 Camaro. Called my agent, reviewed my usage, not only did my rate not go up, my rate was reduced a few dollars a month.

[ABQTBird]

I am surprised to see how high your Hagerty bill is. I have Hagerty and I just got my annual bill for $125. Maybe you need to check with Hagerty to see why it is costing so much. You might be over-insured. I had State Farm, which is where all my other cars are insured, and I had to dump them because their rates were way to high as they were covering it as a driver car less than 12,000 miles/year which was the best they could do.

[redstangbob]

Those of you that aren't exposed to the 'benefits' of auto insurance in Michigan really won't get it. We have, among other things, unlimited liability for medical injury in our fine state, if you need 20 zillion to take care of you for life, it might be possible. We also have 'no-fault', other states have it as well, but we manage to take things a bit farther. Our auto insurance rates are nearly, if not the highest in the country. I'm using Grundy right now, with an agreed value on total loss. I go from June to June, my last bill was $249. I'd do some shopping, $500 sounds high. JMO Bob C

['60BlackBird]

Agree with others, State Farm for sure. We have our 4 classics insured through them and the cost is extremely reasonable. Last year our garage got broken into and they stole our 4 original Mopar wheels that had 3' white walls attached (we have Cragars on the plymouth right now); State Farm replaced all for our $100 deductible. It is a specific plan for cars that are shown or are used for educational purposes and they want to to stay under a certain # of miles a year. You can also deactivate the coverage when it going into storage.

Definitely the way go!

Thanks!
Katy Goldsmith
Albuquerque, NM

[ABQTBird]

Those of you that aren't exposed to the 'benefits' of auto insurance in Michigan really won't get it.

Wow, what's up with Michigan? I looked at about three lists of the highest insurance rates and found Michigan at the top of all of them. Are there a lot vehicle thefts up there, or just bad drivers? Out here the problem is DWI, and thefts going to Mexico, so we usually make the top ten, but all of our cars and house, except the 62 T-Bird, are with State Farm and we get all kinds of discounts from them. Our per car rate is pretty low. My 2003 T-Bird is about $600/year.

[Steverino]

Sorry to hear about your rate troubles... I've been with Hagerty for years and am fortunate that my rates are still very reasonable. I have two cars on the policy at agreed values of $12K and $25K and my annual premium is $340...

Hope you find something that works better for you.

[redstangbob]

Wow, what's up with Michigan?

We get a couple of excuses, most blame the unlimited lifetime medical coverage. Our no-fault is expensive at $175 PER CAR!!!

Here's a clip from an article......
Gov. Rick Snyder wants to lower Michigan drivers’ auto insurance bills in exchange for the elimination of the Michigan Catastrophic Claims Association and the unlimited lifetime medical coverage it provides for people seriously injured in auto accidents.

Under the governor’s plan, unveiled Thursday during a press conference in Lansing, the average family’s premiums could drop $250 a year.

Michigan has some of the highest auto insurance rates in the U.S. and is the only no-fault state out of 12 in the U.S. where motorists pay $175 per car per year to a fund the coverage of catastrophic injuries for life.

Too many residents are suspicious of changes, feeling rates won't stay down for long and the benefit is gone forever.

JMO Bob C

[smorgasbird]

Bob, Hagerty added $186 to my premium for the MCCA alone. Now our Governor is pushing for a sales tax hike to 7% to pay for fixing the potholes! Enough is enough. It's getting too expensive to live in Michigan.

[redstangbob]

It's getting too expensive to live in Michigan.

I hear you, we have the discussion about moving at least once a month. If it weren't for family we'd be gone, and that might not be enough to keep us here for too much longer

[60fore]

Shall I prepare your room in the guest house Bob?

Here we tax the heck outta ya, but we're very polite about it!

[redstangbob]

What a nice offer Gary, but Cheryl was thinking of going a little farther south and I've developed a couple of habits the RCMP's would frown on.