Insured Value for Higher End Sandcar

Meter Tech said:
Well finally got my premium pricing from State Farm for the new Rail....$2,300 a year...I'm not really surprised at the cost for the most part but a huge increase from years past....this sport is not for the weak!! 😵‍💫 :LOL:
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Wow that is surprising, when state farm did the big rate increase my insurance on my Eco 3 was double that per month
 
Snappy said:
NO!!!! State Farm is the only one that does high value sand cars
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Correct! I checked virtually all known companies and State Farm is the only one that insurers if you have higher value car. And yes, bend over and prepare for a dry insertion when you get the quote. If you get a SF agent that quotes you something lower they made a mistake and it will be corrected before you get your policy.
 
Well a month to the day and State Farm did the bait and switch on me, my renewal is up in October and they raised my policy by 103% more than double what I was quoted just one month ago.....my agent is looking at every option out there but not looking good!
And the highest deductible they will allow in $1K which makes no sense whatsoever and trying to under insure it seems like a dead-end now.
So, they all admit that the SXS claims are killing us here and yet they all will still write somewhat reasonable policies on them.....WTF!!
For every (1) sand rail there must be hundreds of SXS's and we're the ones getting screwed!!! :mad:
 
Meter Tech said:
Well a month to the day and State Farm did the bait and switch on me, my renewal is up in October and they raised my policy by 103% more than double what I was quoted just one month ago.....my agent is looking at every option out there but not looking good!
And the highest deductible they will allow in $1K which makes no sense whatsoever and trying to under insure it seems like a dead-end now.
So, they all admit that the SXS claims are killing us here and yet they all will still write somewhat reasonable policies on them.....WTF!!
For every (1) sand rail there must be hundreds of SXS's and we're the ones getting screwed!!! :mad:
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Thats the exact same increase they did to me on my car, absolutely insane the way they are jacking up the rates
 
HydroPower said:
Thats the exact same increase they did to me on my car, absolutely insane the way they are jacking up the rates
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And total BS and now they know they are the only ones writing these types/values in sand rails....got us by the short hairs!!
 
ranman5608 said:
Would it make sense to set up an LLC and put these cars under an umbrella policy?
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That might help shield you a bit in case of a liability situation but it won't reduce your insurance premiums any. You still have to have an underling base policy that an umbrella sits on top of to then give more liability coverage. If anything, an LLC would likely complicate things on something like this.

I'm currently going through this with a boat. Myself and a couple of new partners I'm selling shares to just created two LLC's. One to hold the asset and one as an operating entity. It certainly isn't making insurance any easier or cheaper. Fortunately, one of my new partners is a lawyer so he's handling all the complex paperwork.
 
some potential options CGPT dug all these up
Insurer / BrokerCoverage Types & Highlights
RV America InsuranceFull dune buggy/sandrail coverage online
Rally Insurance GroupOffers Collector (Agreed Value), Stated Value, ATV options
Caruso Insurance (Network)Specialty policies; agreed-value strongly recommended
Stratum InsuranceExperienced broker for custom/off-road and street-legal buggies
Trusted Choice AgentsCompare multiple carriers via local agents
Integra Insurance (AZ)Local Arizona broker for off-road vehicle coverage
TD Insurance (Phoenix)Local Phoenix agency offering off-road vehicle insurance
Midwest Family (AZ)Offers high agreed-value policies when packaged with home policy
 
ranman5608 said:
some potential options CGPT dug all these up
Insurer / BrokerCoverage Types & Highlights
RV America InsuranceFull dune buggy/sandrail coverage online
Rally Insurance GroupOffers Collector (Agreed Value), Stated Value, ATV options
Caruso Insurance (Network)Specialty policies; agreed-value strongly recommended
Stratum InsuranceExperienced broker for custom/off-road and street-legal buggies
Trusted Choice AgentsCompare multiple carriers via local agents
Integra Insurance (AZ)Local Arizona broker for off-road vehicle coverage
TD Insurance (Phoenix)Local Phoenix agency offering off-road vehicle insurance
Midwest Family (AZ)Offers high agreed-value policies when packaged with home policy
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CGPT is wrong... State Farm only for the HIGH END sandcars
 
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