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Insuring multiple cars

 
Old 08-20-2018, 05:05 PM
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Default Insuring multiple cars

So I am trying to convince my wife that I am not a two car guy, but really a three car guy. She is not enthused. But I am not that enthused with my insurer. State Farm. I have a decent rate on the first car, and they tell me I am getting a good rate on the second "occasional use" car which I think is limited to 5,000 miles or less, but that premium is higher than my daily, which I can understand because it is a more expensive car. But I am told if I add a third car that is also "occasional use" there really is no cheap rate. So about $400 for six months for the daily, $450 for six months for the Cayman, and then probably $400+ for the third car. I get full comp and collision coverage. I have been with them for 25 years and never had anything covered except for one smashed windshield. No tickets, no accidents.

So my main question: Is there a company that gives a really good rate for car nuts who have a few vehicles since I can really only drive one at a time?
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Old 08-20-2018, 08:24 PM
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I'm not aware of one. The risk is technically the car can be put on the road, though you and I would likely limit that to us as the drivers - the insurer can't stop you from lending out your car.

Interested to see if others have this problem. Gieco's discount wasn't as good as state farm whom I'm with now.
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Old 08-21-2018, 05:18 AM
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Good luck. I complained to USAA several years ago on this same subject and their response was "contact your state legislature." No doubt the case everywhere -- the state says the car needs insurance. The driver only gets it as part of the car. Yeah, we're a 3-car family. Technically 4-car as I own my daughter's car but she insures it in her own name.

-- Chuck
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Old 08-21-2018, 05:26 AM
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Try an online quote with Hagerty. They seem to have modern options for insurance. My track car is $150 for a year since it's only driven to and from the track.
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Old 08-21-2018, 05:52 AM
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Originally Posted by roel03 View Post
Try an online quote with Hagerty. They seem to have modern options for insurance. My track car is $150 for a year since it's only driven to and from the track.
Agreed with Hagerty, they could offer special rates for you hobby car.
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Old 08-21-2018, 06:28 AM
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450 is cheap, gotta pay to play. I pay around 600 per 6 months for M2 and M3 and 800 for GT3.
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Old 08-21-2018, 06:30 AM
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Originally Posted by mosesbotbol View Post
Agreed with Hagerty, they could offer special rates for you hobby car.
I don't think they will insure all hobby cars, only specialty stuff. I ran a quote for the GT3 and it was more expensive than keeping it on my Allstate policy.
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Old 08-21-2018, 07:39 AM
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I have 3 bikes and Progressive has been kind. I pay a little over $100 a month for all 3, with full coverage on all, and added parts on insurance on 2. And they have a deal where no claims over time, your premium decreases. I know I have a good deal and tried to buy a Ducati 1299s and found that a one bike increase would add $120 a month to my policy. Said no. My broker shopped around and said the Ducati alone would need to go to a specialty insurance carrier. I said no way. So I’m locked in on my 2 wheelers. If I make any changes I get screwed on insurance premiums. I decided no more new bikes and bought a spare engine for my primary literbike.

The cars are another matter. I can only drive any vehicle I have, one at a time, and I don’t loan anything out nor let anyone else drive/ride them. My two cars run me $2600 a year for full coverage. I bitch every renewal to my broker but the vehicles are tied to my house, and my homeowners is cheap, which is why I pay the thievery. My broker has access to most anyone but State Farm and Allstate so they already run renewals though everyone. It’s a racket and really pisses me off. To add insult to injury, I drive less than 5k a year on my weekend car, and about 5k on my DD (I live very close to my work, gym, grocer, etc), and everything I own is garaged so nothing sits outside for hail to hit, and we get hail in the spring. I’ve got low mileage addendums on the cars and it offers little way of a discount.

My next purchases will be either a Ridgeline or ZR2 Diesel, and a FX HO or SVHO Waverunner and both will be adds as I’m not selling anything. Autos, motorcycles, homeowners, and medical I’m around $750 a month in insurance. Homeowners, medical, and my bikes I really cannot complain. I’ve got the best deals I can get on those. It’s the autos that piss me off. Basically paying full price on each. I’d happily sign a waiver for all, that if anything happens and I’m not riding or driving, then they don’t have to cover it. But they don’t offer that. I’ve explained ad nauseam to my broker that none of my vehicles get heavily used, mileage is spread between them all yet I’m being taxed like I drive all of them as DD’s.

We are the niche folks. Like the OP, I’m a three 4 Wheeler person. DD, weekend car, and compact truck. Each serves completely different purposes. So I will do the only thing I can, let each get old. Once I buy my truck, that’s that, no new 4 wheelers for 10-15 years. At least as they age, they can drop in insurance cost. I’ve contemplated dropping full coverage on my bikes as they are all owned, and just keeping comp and liability, but it would save me very little, maybe $30 a month so not worth it. I wish I could get into drones, collecting stamps, or some other bs, but I am the way God made me. I don’t eat out, don’t drink, and don’t waste $ on stuff sans vacations where I have nothing to show for my $. And yet I pay a high price for that. Sucks, but the way it is. Someone call me a first world problems paramedic.
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Old 08-21-2018, 11:28 AM
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Originally Posted by vader1 View Post
So I am trying to convince my wife that I am not a two car guy, but really a three car guy. She is not enthused. But I am not that enthused with my insurer. State Farm. I have a decent rate on the first car, and they tell me I am getting a good rate on the second "occasional use" car which I think is limited to 5,000 miles or less, but that premium is higher than my daily, which I can understand because it is a more expensive car. But I am told if I add a third car that is also "occasional use" there really is no cheap rate. So about $400 for six months for the daily, $450 for six months for the Cayman, and then probably $400+ for the third car. I get full comp and collision coverage. I have been with them for 25 years and never had anything covered except for one smashed windshield. No tickets, no accidents.

So my main question: Is there a company that gives a really good rate for car nuts who have a few vehicles since I can really only drive one at a time?
I'm a little surprised your insurance is that high. We have 3 cars in our family and pay ~$550 every 6 months for full coverage. That's for an s2000 (listed as occasional use), Tucson, and Sienna. We're late 30's and it sounds like you aren't young? Or perhaps it's your locale..? It's been my experience that I need to change insurance every so many years as rates creep up year after year. We've had progressive, allstate, and now geico.
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Old 08-21-2018, 11:36 AM
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Originally Posted by SlowTeg View Post
I'm a little surprised your insurance is that high. We have 3 cars in our family and pay ~$550 every 6 months for full coverage. That's for an s2000 (listed as occasional use), Tucson, and Sienna. We're late 30's and it sounds like you aren't young? Or perhaps it's your locale..? It's been my experience that I need to change insurance every so many years as rates creep up year after year. We've had progressive, allstate, and now geico.
Insurance rates by state, Michigan rates are stupid high. The S alone is just shy of $900 for 6 months on our policy. We've got 5 cars currently, and our 6 month policy is $5400. My wife and I are both over 40 with no tickets or accidents.
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