Collector car Insurance for drivers under 25?

AZCAT · Jun 14, 2011

I have to renew my policy next month... Unfortunately, my current policy with Hagerty is $530 a year. I believe they add a 100% surcharge for “inexperienced driver” because I am under 25. I have zero accidents, tickets, etcetera. In fact, full coverage for my daily driver through Geico is only $375 for 6-months.

I am having a difficult time finding another company who will insure an individual with less than 10 years driving experience. Any suggestions?

Thanks,
Joe

Agreed Value: $25,000

Liability Coverage Part - Limit
A: Bodily Injury: $250,000 / $500,000
A: Property Damage: $100,000 Per Accident
B: Medical Payments: $5,000 Per Person/Per
C: Uninsured Motorists Bodily Injury: $100,000 Per Person /$300,000 Per Accident
C: Underinsured Motorists Bodily Injury: $100,000 Per Person /$300,000 Per Accident

Coverage for Damage to your Auto:
$0 Ded.

catman · Jun 14, 2011

AZCAT said:
I have to renew my policy next month... Unfortunately, my current policy with Hagerty is $530 a year. I believe they add a 100% surcharge for “inexperienced driver” because I am under 25. I have zero accidents, tickets, etcetera. In fact, full coverage for my daily driver through Geico is only $375 for 6-months.

I am having a difficult time finding another company who will insure an individual with less than 10 years driving experience. Any suggestions?

Thanks,
Joe

Agreed Value: $25,000

Liability Coverage Part - Limit
A: Bodily Injury: $250,000 / $500,000
A: Property Damage: $100,000 Per Accident
B: Medical Payments: $5,000 Per Person/Per
C: Uninsured Motorists Bodily Injury: $100,000 Per Person /$300,000 Per Accident
C: Underinsured Motorists Bodily Injury: $100,000 Per Person /$300,000 Per Accident

Coverage for Damage to your Auto:
$0 Ded.

It looks to me like your well covered for the price on your primary driver and Hagerty maches coverages.
You would have to drop your limits to get the the price down. I wouldn't though.

Your close to I'm paying in Florida and you have better limits. Keep it the way it is, your well protected.

c7xr7 · Jun 14, 2011

Joe,
Have you tried making slight changes in your variables to see if you can get it down to a rate you feel more comfortable with? It may not impact the price much, I don't know.

If it were possible I would certainly be willing to return to being 23 if you would take over my 54. I would pay the higher rates while you could take over my senior discounts. You could also take advantage of AARP rates. Deal?

yeloxr7 · Jun 14, 2011

The premium for full coverage on my Cougar through USAA is very reasonable.

polanskys · Jun 15, 2011

I just got my renewal quote from Hagerty and the increased significantly over last year-$200 more for 2 cars. Your premium may not have increased because of your age. Most collector car insurers will not write you under 25.

Steve

AZCAT · Jun 16, 2011

Thanks for the suggestions gentlemen.

Modifying the limits does not change the premium significantly.

I will have to look into USAA. I believe I qualify because my dad was a Marine...

AZCAT · Jun 28, 2011

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ontVertAlignInTxbx/> <w:Word11KerningPairs/> <w:CachedColBalance/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> <m:mathPr> <m:mathFont m:val="Cambria Math"/> <m:brkBin m:val="before"/> <m:brkBinSub m:val="--"/> <m:smallFrac m:val="off"/> <m:dispDef/> <m:lMargin m:val="0"/> <m:rMargin m:val="0"/> <m:defJc m:val="centerGroup"/> <m:wrapIndent m:val="1440"/> <m:intLim m:val="subSup"/> <m:naryLim m:val="undOvr"/> </m:mathPr></w:WordDocument> </xml><![endif]--> Update:

Mike over at Northeast Classic Auto Insurance hooked me up…

Everything is the same except we increased my uninsured/under-insured limits to 250/500, and increased the agreed value of my car to $30,000.

I now pay $150 less a year for better coverage.

Collector car Insurance for drivers under 25?

AZCAT

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catman

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c7xr7

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yeloxr7

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polanskys

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AZCAT

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AZCAT

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