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Discussion Starter · #1 ·
So before I bought my '05 Arnage I was under the impression I would be able to get collector's insurance for it. The premiums I saw were on the order of about $1,200/yr. Unfortunately I have a speeding ticket on my record that is precluding me from getting collectors insurance everywhere I've tried (Hagerty, Heacock, American Collectors). Currently the premium for just the Arnage on Progressive is $550 a month. I'm wondering anyone here has some suggestions on where I might try to get that down some. My current rate isn't something I'm comfortable paying for more than a year or two and honestly I love the car so much I'd love to keep it for longer than that.
 

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When I got my Ghost, I had a similar challenge.

My dealer put me in touch with one of his other customers who happens to own an insurance agency. He was able to get me great coverage with Chubb. It was contingent on having them insure all three cars plus my condo, which I was more than happy to agree to.

SO, you might check them out directly, and -- if that doesn't work -- see if you can find an agent who will do the legwork for you.
 

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Discussion Starter · #4 ·
I just reviewed my policy and it appears something has changed. The Bentley is down to $398/mo now. Still not great but much more palatable. Maybe a claim rolled off my history or something. Deductible is at $2,000 on that and the Corvette so it's pretty high as is, not much to work with there.

I reached out to an insurance agent at Chubb at let him know I'm open to bundling my homeowners. We'll see what he says. I'll try Grundy as well is that doesn't bear fruit.
 

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Discussion Starter · #5 ·
While talking with Chubb and these other places how much do you guys think is reasonable for me to be targeting in terms of a monthly premium for the Arnage? Given the cost of parts on this car I expect it will have to be more than the C5 but I don't know what would be considered reasonable. I'm thinking $200 seems reasonable, 3x the price of the Vette. That's more than collector's insurance would be but I would like to drive the car slightly more than I would under a collector's policy anyway.

Might be worth keeping in mind that metro Denver is one of the most expensive markets in the country due to hail. For reference, I have my liability coverage maxed out and Progressive lists the following monthly premium on the cars I have insured (one of these things is not like the other):
  • 1997 Jeep Cherokee (no collision/comprehensive): $33.16
  • 1997 Infiniti J30 (no collision/comprehensive): $55.83
  • 2003 Chevrolet Corvette: $65.16
  • 1993 Lincoln Mark VIII (no collision/comprehensive): $33.33
  • 2005 Bentley Arnage: $398.50
 

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I think that it would be difficult to compare $ to $ given regions, driving records, ages, limits etc.

One thing that I have learned is that it pays to shop continuously shop for insurance. They tend to sneak in rate increases year over year in hoping that you don't notice. My home owners insurance went up 3x over the course of 7 years with the same insurance company. I eventually got tired in 2017 and started shopping the policy and was able to bring it back down to what I was originally paying when I bought the house.

It also sometimes pays to use an agent.
 

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Discussion Starter · #7 ·
@alabbasi , very interesting. I had no idea about them upping the premiums. Good point on the regions, ages, etc. I guess the only baseline I have is the collector's insurance at $1,200/yr and assume it's going to be a bit more than that.
 

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I’m sure it depends where you are. Here in Wichita, KS I’m paying $650/ year with Safeco insurance. The policy does require me to store the car in a garage and has a $1000 deductible
 

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It's very difficult to compare insurance between locations, type of cars, coverage etc. The insurance companies analyze loads of data such as, number of drivers in the household, your driving history, crime stats for your region and most importantly....your credit report. Due to all the variables, it is extrememely hard to compare one insurance premium with another.
 

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Wraithman - Spot on. Because insurance is a state regulated activity, another consideration is state policy requirements. In Michigan, for example, medical expenses are limitless (many other states cap benefits). When writing a policy in Michigan a company has to price in the risk of, possibly, tens of millions of medical costs in the event of serious, life long injury.
 

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It's very difficult to compare insurance between locations, type of cars, coverage etc. The insurance companies analyze loads of data such as, number of drivers in the household, your driving history, crime stats for your region and most importantly....your credit report. Due to all the variables, it is extrememely hard to compare one insurance premium with another.
In Massachusetts, one of the considerations is where the car is principally parked. There are various levels designated for each city and town. IIRC, Boston is one of many municipalities at the highest tier. The suburb I live in -- 26 miles away -- is in the lowest.
 

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Discussion Starter · #13 ·
The agent from Chubb seems confident he can insure just the Bentley and my restored 83 W126 when it's finished. $1,700 a year to do both at agreed upon values of 60k for the Bentley and 35k for the Merc. Still waiting for the final go-ahead from him. Hopefully they don't run into the same issue with the driving record.
 

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A while back my insurance company decided they'd no longer insure engines above 3.5 l (or something around that). I shopped around and couldn't find anyone who would insure either the Vanquish or the Arnage. I finally called my homeowners broker and they added both cars to my policy for less than I was paying before.

(My homeowners policy is through Chubb, FWIW. Seems to be a common theme there....)
 
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