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Discussion Starter · #1 ·
My R8 is finally almost here so been getting some insurance quotes. When they ask about modifications to the manufacturer's original specification eg wheels, suspension, bodywork, what do you say? In particular, regarding carbon sigma blades or titanium finish wheels? Mentioning these causes much confusion and the answer seems to be to just jack up the price. How about mag ride?
 

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Right, tell them it's OEM stock.
 

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do not lie to an insurance company. you are entering into a contract with them and lieing or non disclosure is fraud. you dont have to volunteer it ( unless your policy says you have to notify them) but do not lie if asked
 

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do not lie to an insurance company. you are entering into a contract with them and lieing or non disclosure is fraud. you dont have to volunteer it ( unless your policy says you have to notify them) but do not lie if asked
All the CF bits, polished wheels, etc. are all stock items and need not be disclosed.

Now, HARRISON might have a problem, but he's in the insurance business anyway! :):):) (Nothin' but love, buddy...:D)
 

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All Ins. Agents should have errors and ommisions coverage. If your agent fails to remember to ask you about special equipment coverage you are fine.He should also take pictures of all special equipment as well as the car. Also did you know that an after market wheel may cost less than the factory pieces. Never lie to your agent!!!!:cool: If you only use the vehicle to go to an occasional car show ,you may qualify for a classic car policy which with my Co. costs very little.Mileage verification required.Such as oil change records/receipts. 1000 mi. per year or less
 

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Im an insurance broker as well and when in doubt, "the truth shall set you free". The key thing is to get an agreed upon or 'stated' value and not ACV (Actual Cash Value). In that case, titaniuum or CF doesn't change the policy much because its costs are represented by the stated value. In the States, I have worked with Hagerty and they work well with the R8. If you have a good insurance history and are the demographic they seek (38-55, high income, 4 cars, the house etc.), they've always been right on the money. For me, $140k agreed value and 250/500/100 came in at $2300/year.

Harrison speaks the gospel... never lie! We wrote a policy with a company called Leland West on a guy's '63 split window vette with matching #'s a few years back. The policy is very clear that it is not to be driven to and from work. He figured they'd never know. He gets into an accident and on the police report, who remembers those details? "I was on my way to work" was right on the report. The rest did not go well.

Read your policy, never lie.
 

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In the States, I have worked with Hagerty and they work well with the R8. If you have a good insurance history and are the demographic they seek (38-55, high income, 4 cars, the house etc.), they've always been right on the money. For me, $140k agreed value and 250/500/100 came in at $2300/year.
Boy, that's not my experience. I've used Hagerty in the past and they have been great for a lot of my cars, but not for the R8! I'm an old fart with zero points paying $919/yr with 2 cars on the policy, a $500 deductible - and no mileage or use restrictions - through Hartford. I just ran the Hagerty on-line quote again to remind me, $2956! So, it pays to shop around!
 

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Keep your record clean ,and shop around at least once a year.This is a constantly changing industry.I am not a broker.I am an Infinity Plus Agent. I have never charged a broker fee in the 22 years I've been licensed. Haggerty is losing policies to companies like mine for quite some time.Things are constantly changing and rates differ from state to state..In Cal. rates are dirt cheap IF the veh. has low,low,usage.Naturally the rates are a little lower in Arizona-but Az. is QUICKLY catching up to L.A.s' rates.
 

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Boy, that's not my experience. I've used Hagerty in the past and they have been great for a lot of my cars, but not for the R8! I'm an old fart with zero points paying $919/yr with 2 cars on the policy, a $500 deductible - and no mileage or use restrictions - through Hartford. I just ran the Hagerty on-line quote again to remind me, $2956! So, it pays to shop around!
Have an agent quote it. As an exercise, I ran Hagerty online, too, and was disappointed. Our office, as agents, called the underwriters and described the situation and the proposed insured and painted a truer picture of the scenario. Online quotes are boiler-plate. Companies have several pricing models to use and they will not put their best foot forward online.


"I've been with State Farm for 22 years"

In my experience, there is not much that can beat rates from a loyal 10+ year insured with one company that has all the business (home, car, liability)... ESPECIALLY State Farm.
 

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For the information of anyone looking for cheaper insurance (UK) I was quoted some ridiculously high premiums until I found BELL DIRECT. Max No Claims discount , Full business use. Full European cover . 15K miles per annum - £584

Might be well worth a call ;)
 

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Discussion Starter · #14 ·
Thank you for your comments. I think honesty is the best policy & to shop around. Will look into Bell Direct & AA as mentioned above
 

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Have an agent quote it. As an exercise, I ran Hagerty online, too, and was disappointed. Our office, as agents, called the underwriters and described the situation and the proposed insured and painted a truer picture of the scenario. Online quotes are boiler-plate. Companies have several pricing models to use and they will not put their best foot forward online.


"I've been with State Farm for 22 years"

In my experience, there is not much that can beat rates from a loyal 10+ year insured with one company that has all the business (home, car, liability)... ESPECIALLY State Farm.
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Agreed!
I have been with State Farm for only 3 years and could not be more pleased.AIG,previous insurer,would not insure some of my cars.State Farm is very competitive, has not turned down any of my vehicles and it is a pleasure working thru an agent ( personal service a lost art)..My Tesla Roadster just arrived last week..State Farm insured without delay or difficulty. I have heard that a number of companies will not insure the Tesla...
I am paying under $9K a year for six cars, 3 drivers (17 year old driver is included..my daughter represents approx 25% of my total premium )...
 

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Stewart,be thankful your youthful driver is a girl and not a boy !!! Big savings on insurance rates!! Take care.:D
 

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Have an agent quote it. As an exercise, I ran Hagerty online, too, and was disappointed.
I DID speak with a Hagarty agent - I thought the quoting tool was broken! He reviewed my quote and confirmed. Even if they would have offered a policy at russman's $2300, I still would have gone with Hartford at $919. And again, this is a regular policy with no use restrictions.

I have a $1M umbrella liability too because driving a R8, or any high profile car, subjects you to a lot of speculation regarding your wealth and hence, ability to pay. I got this tip from a neighbor years ago who was in the Insurance business. If you're old enough to join AARP, check it out. It's worth it just for the home & auto insurance. Now, let's see how Hartford gets rid of their life insurance products! :eek:
 

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Buy term,invest the difference.:):) Haggerty used to rule! Like I said...It's a CONSTANTLY changing industry!!
 

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I DID speak with a Hagarty agent - I thought the quoting tool was broken! He reviewed my quote and confirmed. Even if they would have offered a policy at russman's $2300, I still would have gone with Hartford at $919. And again, this is a regular policy with no use restrictions.

I have a $1M umbrella liability too because driving a R8, or any high profile car, subjects you to a lot of speculation regarding your wealth and hence, ability to pay. I got this tip from a neighbor years ago who was in the Insurance business. If you're old enough to join AARP, check it out. It's worth it just for the home & auto insurance. Now, let's see how Hartford gets rid of their life insurance products! :eek:
Umbrella's are a must although, it has been suggested, that by simply having an umbrella policy makes you a target. $919 is a terrific premium. I assume you have other business with Hartford... if not, its an even better number. NY is subject is among the top 3 or 4 highest average premiums in the US.. one of the countless benefits of living in the Northeast!:mad:
 

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I've also been with State Farm. For the R8, it is about 1500 for the year. I have my home, investment props, and all cars in the policy. My friend with a fewer cars and 1 home is getting a little over $2000 on his R8. It can vary quite a bit depending on your location, # of cars in the policy, and # of homes insured...and most importantly, your driving record.
 
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