More Insurance Fun

With insurers leaving California, I was faced with finding a new homeowners policy. Ended up going with AAA and in the process reviewed my standard auto policy and went with them as well. The savings was significant and the coverages were significantly better.

While sending in the necessary property photos, I told my representative to ignore the Jag in the garage as that was covered under a classic car policy.

“We have classic car coverage as well,” came the reply. Curiosity piqued I went through the process, specifically asking about usage restrictions as that’s really the only negative going for my Grundy/Philadelphia coverage that I can think of.

When she replied that there were zero usage restrictions, I got excited. “I’m currently covered for $80k agreed value, if you can match that, I’ll bring that over as well.”

I’m glad I didn’t cancel Grundy as the underwriter refused to insure my car for anything over $45k!

Rather than fight, I took that as a sign to stay put and hope that I never have to deal with that particular person if I ever need to file a claim.

I post here, merely as an FYI and wondering if this person was nuts or if that is a true indicator of declining value?


No, I think it’s the insurance company trying to save money on payouts. Remember, these guys are not in it for their good looks: they’re in it to make money.

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Yep yep yep yep yep.

Might give American Collectors Insurance a look. Agreed value $90k and no restrictions (or deductibles). Yearly premium = $773.00. 54-yrs old and Atlanta metro.

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I just went thru same thing. AAA, and like you, cheaper and more coverage.

The Model T I kept Hagerty.

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Not only that, but was their coverage an ‘agreed upon’ coverage or ACV based?

Not sure what ACV means. With Grundy, it was agreed upon value. With AAA it was what thier underwriter valued it at.

Actual Cash Value after depreciation, etc.

Which means they pay ad little as possible.


Also being in CA, I will likely be searching for new insurance next year, so thanks the info on AAA. We are with State Farm, and I was pleasantly shocked they did not cancel us when up for renewal at the start of May; they apparently canceled 650 of the 750 homes they cover in our zip code, and somehow we lucked out.

Our Homeowners coverage did jump 30% though which I expected, but did not expect what they did with our car insurance, increasing my wife’s Lexus by 40% and my Genesis by 30%. And oddly, they actually reduced the Jag E type 5%, now to $812 annually for a $175k agreed value policy.

Pretty sure they’ll drop us next year as they seem determined to get out of the CA market, so next year it will be interesting to see what the options are. When we bought our house 2 years ago, I had two different insurance brokers trying to find us something, and State Farm was the only one out of 17 companies who would take it.

I’ve got 5 acres with good outbuildings and a nice house that’ll be up for rent/sale the end of the year… :slight_smile:

Good luck, Jeffrey, our insurance for a 12 year old Boxter and an 11 year old BMW X3 with zero claims or infractions kept going up and up. My wife traded in the X3 for a new i4 and the rate jumped from an exorbitant 2300 per 6months to almost 3900! AAA is $4200 for the year.

The homeowners policy was somewhat of a wash as I didn’t feel like I had a whole lot of choice, but for the same money, they evaluated our house at almost double the previous. Good luck in your situation.

Although not widely known, the increased number of electric vehicles on the road is one major reason that car insurance is going up so much. Why? Because if you hit an electric vehicle and the battery pack is even slightly dinged, the insurance company will total the car. What would be a fairly minor fender bender for an ICE car becomes a total loss of an electric car.


Place it in the classifieds :rofl::smiling_imp:

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Many insurance companies seem to be totalling almost any EV accident.

Seems that the damage could have affected the battery pack, and since it would be so costly to determine that the battery pack was not damaged … err on the side of liability and wash their hands of the entire thing.


I have to add, AAA did promise a decrease in car ins bundled. 4 weeks later I tecieved a check for about $400

Might be the very first time real estate would be advertised on the site… :slight_smile:

That is very interesting… And disturbing, all of the same moment! I wonder if that would be true for my hybrid Maverick?

I suppose it depends on the location of the battery, how well protected it is, and what the replacement cost would be. The big offenders are the cars like Teslas where almost the entire floor from rocker to rocker are batteries.
BTW, I believe that hybrids are the future (they make so much more sense than the alternatives). I’m not a fan of plug in EVs.


I have become a not-fan of them: I was more a fan of them, but the exigent realities of having one and owning one, and now having the experience I have with a hybrid, have turned me to your way of thinking, too.

EVs are a small part of the mix, and don’t have that much impact yet. There are two problems driving high rates. The biggest problem is that people are driving crazy. Accident rates and fatalities are way up. Paying for battery packs pales in comparison with paying death and injury claims. The other problem is that hurricanes, wildfires, tornadoes, and floods have become commonplace. All of which drives up claims.