Collision insurance

[SilverPhoenix]

My insurance policy renews next month and it's going to increase (again) another $9/mo; since I moved from Asheville, where I was paying just under $50/mo, I will be paying $89/mo starting next month. I have not made any changes to my policy for over a decade and I have not been in any accidents or been cited for any moving violations (tickets) since 2015 (rear-ended someone at 10mph). I realize insurance is going up across the board for everyone, but I was just wondering if it's worth it to carry collision on the MM since the insurance company will most likely total it if I were to get into an accident due to many OEM parts being unavailable/very difficult to get and the fact that it's 20 years old with 185k miles and has a value of less than $5,000 in their books.

:dunno:


Update (3/6/24): I've decided to keep things as they are in regards to my insurance for now as it appears that even though my rates have nearly doubled in 4 years, I'm paying on the low end compared to most people...

[Pantera]

Try Hagerty.

[Mr. Man]

Try Hagerty. I second this thought!^^^^

[RubberCtyRauder]

Hagerty and other collector insurance won't insure it as a daily driver.

[SAH62]

I was just wondering if it's worth it to carry collision on the MM since the insurance company will most likely total it if I were to get into an accident due to many OEM parts being unavailable/very difficult to get and the fact that it's 20 years old with 185k miles and has a value of less than $5,000 in their books.

You're right, your company will most likely total it if the repairs exceed some percentage of the value of the car. The answer to your question depends on what you want to do if the car is involved in a collision. If you want to keep the car, and it's repairable, and you can afford to make the repairs without the help of insurance, drop the coverage. If you'd rather not spend the money, keep the coverage and be prepared to give up the title in the event of an accident. You can always use the payout to buy a replacement.

[burt ragio]

How many miles a year does Hagerty allow ?

[RubberCtyRauder]

Generally 3500 or less per their site. Up to 7500 can be considered.

[jgc61sr2002]

Try Grundy. They insure 4 of my cars at stated value including the Marauder,

[1Marauder]

If you have another car in your family…. Insure it for $20,000 or whatever you will need to get over the loss… and drive on.

[BLACKMARAUDER04]

They don't use blue book on totaled cars. Insurance uses actual value using comparisons of other cars in your area.
My auto insurance rose over $600 for 4 cars, 2 Marauders, MKS Ecoboost, and a Mariner.


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[SilverPhoenix]

They don't use blue book on totaled cars. Insurance uses actual value using comparisons of other cars in your area.
My auto insurance rose over $600 for 4 cars, 2 Marauders, MKS Ecoboost, and a Mariner.


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So if there's another MM in my area (whatever ambiguous number that is) that has a value of $20,000, that makes my car's value to be around $20,000? Meanwhile, MMs that aren't in my area that are valued way lower won't impact the value of my MM?

At any rate I've decided to keep things as they are in regards to my insurance for now as it appears that even though my rates have nearly doubled in 4 years, I'm paying on the low end compared to most people...

[BAD MERC]

I have a Hagerty policy on mine with am agreed value of $37k and it's ~1,100/yr. It covers towing. lodging and rental car. Also Hagerty has "Cherished Salvage" which is a clause to keep the vehicle in the event of a loss.

You must have it garaged and it must not be the primary vehicle. Mine averages 2800/yr so I am wayyyy under any mileage caps. So far I am extremely pleased.

[Turbov6Bryan]

Hagerty and other collector insurance won't insure it as a daily driver.
Actually they do. I know hagerty will.

Not saying marauder specific, but they do have a umbrella policy with other under writers. I did ask when I added my 69k DTR.. asked on my daily beater 2002 accord. They said it had to be a 92 and older accord. Lol. I pay 111.00$ a year for 20k on DTR

[Turbov6Bryan]

Original poster. What do you need to do is make some quality photos of the car, and when you call Hagerty you can send them the photos while you are setting up a policy for your vehicle. I have done this multiple times as I have 20 cars. You must get their stated value and I would push it higher than actual value. So your car above 150,000 miles would easily qualify for $10,000 payment once the vehicle is damaged. And with Hagerty ‘s policy they do not want the car once it has been given a salvage title. Depending on how small of an accident it is you can repair the car and have a prior salvage title and still drive your vehicle every day as if maybe the bumper or headlight or fender got damaged and they will totaled out at that point because parts are hardly available. So I had a 2004 red mercury marauder with 187,000 miles. Hagerty over five years and Grundy over 10 years has never ever asked for a mileage statement or what I am doing with my car once I have the policy. I make sure that I am going to get my oil changed every time my car leaves the driveway. It’s either going to get an oil change if I get in a wreck or is going to the mechanic for repair if I get in a wreck. Stay away from parking lots and have a garage and you’ll pay less than $200 a year for probably $10,000 guaranteed payout for your vehicle

[Turbov6Bryan]

Back to my 2004 red marauder that I totaled out at 65 mph on the highway backwards into the guard rail the car is totally destroyed, this was with Grundy I don’t prefer them as much as I do Hagerty because they try to cancel my claim lied to me about sending emails trying to cancel my policies which they never did the flat outliers but, it took about two weeks and I was given full value and kept the car for $600 that was Grundy after that I’ve added five more cars on top of the existing policy. I can afford all these cars with hundred dollars a year on a bunch. Hagerty said full coverage for a 2024 stingray Corvette would be less than $800 at $80,000. My 50 mustang has $48,000 an insurance and it’s $500 a year

[CBT]

I'm about to drop USAA, tired of the "rates have increased everywhere" B.S. every 6 months.
Actually they do. I know hagerty will.

Not saying marauder specific, but they do have a umbrella policy with other under writers. I did ask when I added my 69k DTR.. asked on my daily beater 2002 accord. They said it had to be a 92 and older accord. Lol. I pay 111.00$ a year for 20k on DTR

[Turbov6Bryan]

I'm about to drop USAA, tired of the "rates have increased everywhere" B.S. every 6 months.
That’s what American family did to me. What a joke.
you fall off Facebook?

[CBT]

Gave it up about a year ago when I gave up cigarettes. Both make me feel healthier, I must say.