Insurance when # cars > # people

[rumatt]

I'm always amazed at how much insurance costs when you own extra cars. You pay almost as much for a 2nd car that sits in your garage as for one that you drive every day.

Does anyone know if any insurance companies in particular are good for this sort of setup?

I'll DD the E46 most of the time. I'll use the wagon when it snows, and just enough to keep the tires from flat-spotting. And I'll drive the Cayman once in a while for fun. This shouldn't be as expensive as if I had a wife and kid (or two wives :ack:) and they were all being driven daily.

[bren]

Do you list the extra cars as pleasure vehicles? I don't drive many miles even for the DD so this doesn't do me much good, but might help you (?)

You could see if Haggerty will insure the Cayman, though they weren't much cheaper for my Vette(s).

[rumatt]

Do you list the extra cars as pleasure vehicles? I don't drive many miles even for the DD so this doesn't do me much good, but might help you (?)
Yep.


You could see if Haggerty will insure the Cayman
Worth a shot, thanks.

[SARAFIL]

You don't really get a credit for the fact that sum(miles driven between the two cars) = miles you would have put on one car if that's all you had. You will get a multi car discount from many carriers as 2+ cars is preferred to single car policies, but when # of cars > # of drivers there might be a surcharge which essentially covers for "is there someone else driving the car that you aren't telling us about?" Bottom line, every company has a different algorithm so shop around

[wdc330i]

Yep.


Worth a shot, thanks.

Maybe get farm plates for the E91 ;)

[SARAFIL]

Maybe get farm plates for the E91 ;)



The E46 might count as an antique by now

[rumatt]

Right. I realize there are risks when someone claims that there is an "extra car that isn't driven." There's a kid living home and still driving it, or whatever.

But in my case the actual liability is clearly less. Yes they could still all potentially get stolen. But they won't all get wrecked on the same day. It would be nice to find an insurer whose risk models account for my scenario rather than assuming I'm yet another person who scams them.

[SARAFIL]

In all seriousness- shop around. Get a handful of quotes, both online and doesn't hurt to call an independent agent. It's hard to explain but insurance isn't priced like most products you buy because it's basically a prediction game. Most products have a known cost and company A vs company B might have a 5% or 10% price difference but with insurance they are all using custom models to predict how risky you will be over the next year and those models give them very different answers. I've personally received quotes that range 2x-3x from high to low. You can also get extra savings if you bundle your home insurance with the same company as your car insurance (discounts on both policies)

[bren]

In all seriousness- shop around.

Oh yeah, that goes without saying.

I have a broker who shops my policy every year against a number of carriers that he works with.

[lip277]

Oh yeah, that goes without saying.

I have a broker who shops my policy every year against a number of carriers that he works with.

Ditto....

I have the Mustang and E9 with Hagerty and the rest (Yuk, F250, 911,740 & boat and car trailer) on 'regular' insurance.

And yes, I have a pretty good insurance bill.... :)

[ZBB]

I'm not a Hagerty customer, but I've met some of the people that work there through Motoman. Great crew -- they really love cars.

[blee]

E46 M3 owners have recently started to insure their cars through Hagerty. I won't do it, as my M3 is going to see fairly frequent use, but it's a good option for specialty cars that see limited mileage.