Question for those of you with State Farm?

[OhBuoy]

I know a couple of you have State Farm, and some have restrictions, but most do not? Is anyone willing to share details on your State Farm policy if you do not have restrictions? You can send me a message via PM. I have State Farm, and I have restrictions. They also listed a huge replacement value, so I am thinking they have it classed wildly. I would like to try to get under a semi normal policy so:

1) If something happens, they do not think I was trying to pull something by being in the wrong class.
2) I would like to be able to use the car for more recreational purposes without being scared. In June, Tommy may be back in Cincinnati, and I keep thinking that would be a fun cruise on a nice weekend, but it would be in the hospital garage for a short period of time until I could relocate it.

[Speedysnake]

For what it's worth;

I sat down with my SF agant, he has our house & both regular cars covered. Covering the little red car sounded so complicated, I gave up. It sounded like too many conditions, that if not met properly, could void the coverage.

[Snowsnake]

Tom
Give me a call.We'll get together and I'll go over my State Farm policy with you. Darryl

[snake oil]

I have my house and Corvette, Yukon, Mazda, tan Sable, brown sable, and cavalier all insured with them. When I tried to insure my car with them they told me in no uncertain terms to flip off.
"WE DO NOT INSURE KIT CARS AT ALL."
I guess it is who you have as a broker and not so much the policy?
Dazed and confused.

[RedCSX1]

I have state farm. $1000 deductible. $1,236.00 a year. We worked it so there is also a varible universal life policy on my daughter that should amount to $16K by the time she is 18 years old. Should be enough to cover the cost of school books when she goes to college. This works out to be a 103.00 payment every month.

[badrich]

The difference must be with agents. I have State Farm for my Brand X and Town House. I added my Cobra with full replacement value for a *very* reasonable cost. Limited mileage, but I honestly don't do any long distance driving anyway. Works for me! Rich

[RedSnake351]

Wow, it pays to be over 50, with a $1000 deductable The Hartford insures the Redsnake for $300.00 per year. (As long as Snake Oil doesn't let them know how I drive! )
Ralph

[Poolw]

After talking with 3 different State Farm offices it came down to this - - State Farm does not provide a guaranteed value. They do provide a stated value which I understand is not the same as the guaranteed value. To make a long story short - - to save $200 a year with SF over my present SafeCo was not worth the difference. I feel very comfortable with SafeCo's guaranteed value and didn't want to get into a pi$$ing contest with SF after the fact.

[tmareina]

I have mine insured with State Farm as a 1967 Ford Cobra. It was insured for its purchase price. The agent photographed the car and engine and it costs me less than 500.00 a year. The class it is insured under is a classic car and has no restrictions listed on the policy.

Tom

[woody2]

Hey Tom I also have State Farm. My policy has $500.00 deductable and full
coverage with towing also. I have a friend at a Ford dealer write up a value
on my cobra. Last year my premium was $178.58. But with a 3000 miles per
year limit and that was four years ago. They have not checked up on my
mileage since 2003. I could have 12,000 on it now but only have 4500.
Good Luck!

[CJ428CJ]

After talking with 3 different State Farm offices it came down to this - - State Farm does not provide a guaranteed value.

I think you mean "agreed value" vs "stated value." Maybe what they're willing to underwrite varies by state. I have mine insured with State Farm and the policy is very clear that it's an agreed value (agreed to by them or me in the event my car gets totaled or stolen) as opposed to a stated value (my opinion of what it's worth).

[jp65cobra]

I have State Farm and it was very easy to get mine insured. My agent asked for some documentation on the car and the next day he came back with a policy with the car listed as a 2005 Cobra Replica. It is kind of interesting how the same company has done different things. I am paying a high $1100 fee but I have been with the same guy for 20 years and never been hassled. My daughter is listed as a driver as well because I have her on all our policies at the moment. When she gets her own stuff shortly it will go down I think. I think I will check into the replacement value though and see what he says.

JP

[thudmaster]

I have SF on my spf. No restrictions, 100 dollar deductable, and first option for buy back in case of total (if I survive). They have it listed as a superformance. I'm very happy with them. They paid for my windsheild last year.

[jerry w]

Perhaps State Farm coverage varies by state . I am in New York. I have a policy with an "Agreed Value" which was determined by an independent appraiser. My car is "Classified" by State Farm as a kit car, this is one of the codes in in the policy booklet. I have no limit on mileage. The policy does state: "for use to shows, parades and limited pleasure driving". My agent new exactly how to write the policy, and was very helpful. I live in a rural area of Upstate New York...not a location known for car ethusiasts. Annual premium $105.00

Check with a different State Farm Agent, maybe one that is more sympathetic or knowlegeable.

Regards,

[RedSnake351]

Originally Posted by jerry w

...Upstate New York...not a location known for car ethusiasts. Annual premium $105.00
Regards,

WOW, what a tremendous difference, compared to CSX1 in Fresno, who pays roughly 12 times as much as jerry w in Upstate, NY.!
Ralph

[xlr8or]

It definitely varies by state. Just like JP above mine is insured as a 2005 Cobra Replica and no limitations for under $1000 with a $100 deductible.

Mine has an agreed value if it's totaled.

[RedCSX1]

Here is a major issue. My Shelby because it was build in 2004 could not be considered a classic car which would have been cheaper to insure by 50%! I have an agreed value of $89K on my Cobra. Many people register their replicas as 65 Cobra's or 67 Fords for example and get classic car insurance.

[badrich]

They drives fast in Fresno. Rich

[jerry w]

I am only guessing here. Some of the reasons my State Farm policy may be low:
My wife and I are the only ones on the policy....no other menbers of the family, especially anyone under 25.
We have no claims, or tickets
I built mine, it is classified by State Farm as a kit kar, not a classic.
I have virtually no neighbors, thus I live in an area where car theft would be rare.

Regards,

[m_vanpelt]

I have my Daytona Coupe insured with State Farm for a fixed value of $40,000.00 and pay $252.00 a year. I am allowed 3000 miles a year and have to keep the car in a locked garage when not in use. We have all our other cars and house with the State Farm. The way I drive the car they owe me over 14,000 miles at this time. Martin