Author Topic: Insurances for CJ's  (Read 1144 times)

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Offline Don-man

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Re: Insurances for CJ's
« Reply #15 on: August 29, 2018, 10:50:37 am »
Thanks. I did contact Grundy. They gave me options. If I agreed to lower the value from from 60K to 50K. Increase my deductible to $250. That will know off $135.00 from my bill. BTW. They (Grundy) increased agreed value two years ago from 50K to 60K. I'm good with 50K agreed value. I will check rates from other insurance companies. I'm sure there all the same  >:(

Offline redscj

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Re: Insurances for CJ's
« Reply #16 on: August 29, 2018, 11:00:31 am »
     I'll burst your bubble a little. Your ss# isn't as secret as you might think. Credit reports are to benefit the financial companies, not you. That is how they price risk. They have their own databases. Eventually they find it out & it gets saved/shared on a server somewhere. That is why data breaches are so serious. Nice business model. They lose your data, you might get defrauded so they charge you for fraud protection & stand blameless.
     Even in states that can't use your credit to determine your rates. I bet that they use a report similar to FICO that your score has at least some small value in it. Jeez, they can even make a decent guess about your credit score & income based upon the neighborhood that you live in.
     I doubt they paid out on the Bugatti. Like not paying if you torch your own house.

In the states that do not use your credit to determine your rate there are other sources that insurance companies use. I forgot the name of such sources, however, its similar to a credit score. They use a database on past claims, where you live, etc. Its similar to what banks use to determine IF you can open a checking account. This is legal in all states. Like credit bureaus, I believe there are also three or four data bases they pull from. So, yes they really don't need your SS number, although Im sure they have it anyways.
     Yup, they have the money & power. The laws will generally be in their general favor.
     I still can't understand how they can lose your "private" info & not be liable.
     Also accident data on cars. You are settled on a claim where you are to be made whole. Then YOUR insurance company sells your info on your cars accident history. You go to sell or trade it in & all of a sudden your car is worth less because of an accident where you was supposedly made whole. Since your car is valued less? Was you truly made whole at the time of the accident? I can't believe that there isn't a class action lawsuit over that carnal action.
     My advice to the op of this thread still stands. His premium change might reflect an error on his credit report. A fat finger data entry is all it takes.
Grant
69 Mach 1 Dearborn SCJ 4.30 4spd 6/17/69 Candy Apple Red
69 Sportsroof Metuchen SCJ 4.30 C6 5/28/69 Acapulco Blue

Offline Brian Conway

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Re: Insurances for CJ's
« Reply #17 on: August 29, 2018, 12:10:04 pm »
Take a look at AAA.  Brian
65 5R09A 4 spd  GT  Built 5/29/65 
69 9T02R 4 spd  SCJ Built 9/19/68
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Offline 10w30dna

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Re: Insurances for CJ's
« Reply #18 on: August 29, 2018, 02:13:22 pm »
Local insurance guy told me the costs from all the disasters,like west coast fires,southern floods,hurricanes,etc are what is driving the increases. My best plan was to sell a couple cars to keep costs down. Didn't hurt as much as I thought :'(
 Taking my 69 Mach SCJ to Gateway soon. That will trim the costs a little more on one end,but increase taxes on other end.
Original '69 Mach I 428 SCJ 4 speed V code Royal maroon,power vent,AM 8 track,PDB,PS,fold down rear seat,optional rear axle ratio ( drag pak),more.Two window stickers needed to show options. Restored '86 and followed me everywhere I moved so far
FOR SALE

Offline redscj

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Re: Insurances for CJ's
« Reply #19 on: August 29, 2018, 03:31:47 pm »
Local insurance guy told me the costs from all the disasters,like west coast fires,southern floods,hurricanes,etc are what is driving the increases. My best plan was to sell a couple cars to keep costs down. Didn't hurt as much as I thought :'(
 Taking my 69 Mach SCJ to Gateway soon. That will trim the costs a little more on one end,but increase taxes on other end.
     Would finding an auto insurance company that didn't sell into the home owners market help? My guess is that is an excuse that most customers accept.
     I'm inclined to think that they missed on their risk management thinking. I remember a long time ago that Allstate was hurting from a hurricane in Florida. The story went on to say that the storm wasn't the real problem. Allstate had sold too many policy's in a disaster prone area. They were ok with the loses, just that there was too many of them.
Grant
69 Mach 1 Dearborn SCJ 4.30 4spd 6/17/69 Candy Apple Red
69 Sportsroof Metuchen SCJ 4.30 C6 5/28/69 Acapulco Blue

Offline crossboss

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Re: Insurances for CJ's
« Reply #20 on: August 29, 2018, 03:46:39 pm »
     I'll burst your bubble a little. Your ss# isn't as secret as you might think. Credit reports are to benefit the financial companies, not you. That is how they price risk. They have their own databases. Eventually they find it out & it gets saved/shared on a server somewhere. That is why data breaches are so serious. Nice business model. They lose your data, you might get defrauded so they charge you for fraud protection & stand blameless.
     Even in states that can't use your credit to determine your rates. I bet that they use a report similar to FICO that your score has at least some small value in it. Jeez, they can even make a decent guess about your credit score & income based upon the neighborhood that you live in.
     I doubt they paid out on the Bugatti. Like not paying if you torch your own house.

In the states that do not use your credit to determine your rate there are other sources that insurance companies use. I forgot the name of such sources, however, its similar to a credit score. They use a database on past claims, where you live, etc. Its similar to what banks use to determine IF you can open a checking account. This is legal in all states. Like credit bureaus, I believe there are also three or four data bases they pull from. So, yes they really don't need your SS number, although Im sure they have it anyways.
     Yup, they have the money & power. The laws will generally be in their general favor.
     I still can't understand how they can lose your "private" info & not be liable.
     Also accident data on cars. You are settled on a claim where you are to be made whole. Then YOUR insurance company sells your info on your cars accident history. You go to sell or trade it in & all of a sudden your car is worth less because of an accident where you was supposedly made whole. Since your car is valued less? Was you truly made whole at the time of the accident? I can't believe that there isn't a class action lawsuit over that carnal action.
     My advice to the op of this thread still stands. His premium change might reflect an error on his credit report. A fat finger data entry is all it takes.



Boys,
Also remember insurance companies require your drivers license info for any automobile policy. This alone will determine your 'worthiness' for rates. INS companies WILL run your DMV report, and IF you have any accidents, judgements, and even back child support delinquencies will effect your rate significantly. Also, as mentioned where you live, auto theft numbers, etc. You can be clean as a whistle, yet your 'rates' are outrageous. Yep, its a scam.
<My old C.J. heap  aka  S-B Racing!
Current lifelong project: 1969 Mustang Fastback/FOX chassis, Powered by a modern Can-Am 494 (Boss 429), Kaase headed, Autolite 1425 cfm 'B' Inline carb, 6 speed, 4 wheel discs, ala Trans-Am style--Whew!

Offline Don-man

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Re: Insurances for CJ's
« Reply #21 on: August 31, 2018, 11:13:22 am »
Hey guy's.

Thanks for all your comments.  I got my insurance premium down from $500 plus to $365.00 "but" had to lower agreed value from 60K to 50K plus increase deductible to $250.00. I'm good with that till next year.

Don

Offline RoyceP

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Re: Insurances for CJ's
« Reply #22 on: November 29, 2018, 10:22:22 am »
I have six collector cars insured with JC Taylor. Combined agreed value is $350,000. I pay $750 a year for full coverage on the whole lot of them.

A lot of your cost will depend on where you live, but my experience with Grundy tells me to stay away from them.
1910 Model T Ford Touring Red
1915 Model T Ford Touring Black
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Offline cobrajet_carl

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Re: Insurances for CJ's
« Reply #23 on: November 29, 2018, 12:53:01 pm »
Yikes! Thats a 33% increase. Time to shop for a better and cheaper insurance company.
My worthless two cents...
Actually a 67% increase...

Offline lr68cj

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Re: Insurances for CJ's
« Reply #24 on: December 01, 2018, 02:03:05 pm »
I still think Hagerty is the best. When I went to insure my CJ American collectors told me they only insured "finished" cars. Did that mean my unfinished car had no value? Because they wouldn't insure my unpainted car, I for damn sure wasn't going to go to them when it was finished. Hagerty asked for pictures and and agreed to a value of 29k. I just recently asked about raising the agreed value to 50k, and they said no problem. Haven't got my new bill yet, but I'm not going to argue with it. I know I can't replace it for that amount of money, but it would help to ease my pain.
The only thing I'm not overly happy about with them is their magazine. It went from a few pages to an all out attempt to compete with other car mags. My issue would be if some of my premium money was paying for it. If not, then I don't care.
My car still isn't painted and will probably never be "finished". Maybe someday. Lol.