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Discussion Starter #1
I realize that the answer to the question in the subject line (Insurance, from who, and at what cost) depends heavily on where you live, insurance bundling, age, driving record, etc.

I also understand that I need to look for an "agreed value" policy.

I live in North Texas, specifically far north Dallas, in Collin County, Texas.

Can you please help me (and others) by providing who you got insurance from, the coverage/deductables, and the monthly or yearly cost? I would especially like to hear from those with insurance that live in the Dallas-Fort Worth area.

I currently have State Farm for home/auto, but it's not clear that they offer agreed value policies and I expect them to be costly. I plan to call my agent tomorrow to see what I can learn, but I suspect that I'll end up having to ensure this car (and perhaps the rest of my cars/home) with someone else.

Thanks in advance
 

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For what it's worth, here's what I'm paying in Chicago Suburbs. Allstate local agent. ~$1400/year
 

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Switzer GTR, Protomotive 996TT, RS4, 17 Suzuka R8
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Also in the Chicago Suburbs....I'm 1,200 year w/ similiar coverage.
 

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Discussion Starter #4
Thanks ntg44 and ApexRS. This will be a good reference when I start by chatting with my current State Farm representative.

Are these "regular automobile policies"? e.g. subject to depreciation and the whims of the insurance adjuster, or are they agreed value policies. From the form ntg44 provided, it looks like a regular auto policy.
 

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I've never heard of an agreed value policy until now. That being said, I avoid insurance at all costs, and have never had an issue with the few claims I did make with other cars. Guess I don't care enough. Sorry I can't be of more help.
 

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My policy is through American Modern [USAA affiliate]. Agreed value @6K miles per year ~$1,200 for the year. My GT3 is on the same policy for ~$900.

-td
 

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Discussion Starter #7
No problem ntg44. Your input is useful and valued.

Special cars for which KBB and NADA data do not exist or does not reflect the actual car market value (such as supercars, collectable cars, etc) are often insured using agreed value based policies. For these policies, the insurance company and the car owner agree on a fixed value of the car. The agreed value is paid if the car is totaled, independent of what the fully depreciated car would be worth. For example, a 1960 vintage classic, fully restored air cooled Porsche 911 might run $750K at auction. But the KBB reported value would be much lower (a few 10's of thousands of dollars at best). In this case, the agreed value would be $750K (or whatever you negotiate with the insurance company). Since the insurance rate/cost is a function of the agreed value, you want to be reasonable with what you ask for. In another example, older 911's such as 996 models are now fully depreciated and run in the range of $30-60K or so, but the KBB can be much less for these cars.
 

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Discussion Starter #8
Just got a quote from my State Farm agent. Cost for the 2017 R8 V10 is $130/mo = $1560 per year. Mine is a bit higher for a couple of reasons: 1) 40% of the drivers in Dallas area are uninsured (even though you must have at least a minimum level of liability insurance by law), 2) I have umbrella liability coverage (and to be eligible for the umbrella policy, the automobile liability limits have to be maxed out), 3) The Texas trial lawyers are notorious for lawsuits in auto accident (lots of billboards around with "Had a car accident? Get what you deserve, call xxx-xxx").

Not too bad. I expected worse.
 

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I've not done agreed value on the R8, although I may look into it as the car ages further. But, as I understand the experience from others, many mainstream insurers may not actually provide it, and those that say they're doing it, should be inspected closely. Clearly the classic insurers (e.g. Hagerty) are probably a safe bet.

I hate insurance shopping, but I do feel it's probably "that time again" (probably overdue!) to shop around. I've been very loyal with my insurer, and I have my home, cars, and umbrella with them. So, while I've enjoyed a nice multi-policy discount, I've found that remaining "loyal" to one insurer often means they start getting lazy with regards to remaining competitive... otherwise put, they start milking you.
 

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I have been with American Modern Insurance Company for years now. The Insurance is offered thru the National Corvette Museum (NCM) as I have had it on other cars and originally on a Corvette. I pay $550.00 a YEAR for the R8 and it is agreed value. The policy only covers 1000 miles a year which is fine for me but they do offer higher mileage plans-it is designed for secondary pleasure cars-but I have yet to find a better deal. I am in Michigan where traditionally our insurance is higher on average than other states. To give some perspective, I pay approximately $1100 a year for the Audi,a Lotus 7 and a Miata.... Classic car insurance is definitely the way to go,unless you drive the car alot. Rich
 

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Discussion Starter #11
Good input spitfun. I wonder how much the cost scales with mileage. I would expect to put 3-4K miles a year on a 911.
 

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That I am unsure of as I only get the 1k a year plan. Keep in mind I have a Gen1, so the insurance for a newer-more expensive model would change things.
 

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I live in Burleson, TX and I use Farmers. I have no agreed value and I pay $680 every 6 months with $500/500 deductible.
 

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32yr with zero NCB in the UK insuring an R8 Spyder Plus 2017: £2.1k/yr with Direct Line fully comprehensive
 

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Ouch. I just took a look at my policy mine is actually $516 for the year insured for $60,000
 

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So I just want to thank the OP for posting this thread. I did some shopping and just cut my R8 premium from $1400 annually to $532. For the same exact policy. Couldn't be happier right now.
 

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I have been with American Collectors thru the National Corvette Museum (NCM) for quite a few years and many different cars,they had the best prices in my experience. Rich
 

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I realize that the answer to the question in the subject line (Insurance, from who, and at what cost) depends heavily on where you live, insurance bundling, age, driving record, etc.

I also understand that I need to look for an "agreed value" policy.

I live in North Texas, specifically far north Dallas, in Collin County, Texas.

Can you please help me (and others) by providing who you got insurance from, the coverage/deductables, and the monthly or yearly cost? I would especially like to hear from those with insurance that live in the Dallas-Fort Worth area.

I currently have State Farm for home/auto, but it's not clear that they offer agreed value policies and I expect them to be costly. I plan to call my agent tomorrow to see what I can learn, but I suspect that I'll end up having to ensure this car (and perhaps the rest of my cars/home) with someone else.

Thanks in advance
I have been with American Collectors thru the National Corvette Museum (NCM) for quite a few years and many different cars,they had the best prices in my experience. Rich
 
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