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Older Mustang owners - Don't be complacent w/ insurance rates
This may not apply to the few who remain here but I tend to stick with one insurance company as the years roll by. I'm 67. This is the second time in the past 10 years I have been screwed over with rates that became too high. Every state is different, coverages are different, and driving records are never the same, so no names or rates here, just a suggestion to shop around.
It seemed my Mustang, Challenger and home rates (nice bundle package) were jumping a little too much each year. I finally had enough (no tickets or reasons for increases) and started checking around. Exact same coverage and I saved $300 per year for my cars and another $300 for my home. These are not 'teaser' rates where they jump the next year. Solid companies that have been around a long time. That $600 savings this coming year can be used for gas or food or anything to help offset inflation. Hell, it even pays for my Hagerty coverage for my Trans Am with hundreds left over.
If this thread inspires anyone else to 'shop around' then it was worth writing up. It's so easy and preferable to stay with one company but they obviously take advantage. It's unfortunate. It should be the opposite for established customers.
I've also stuck with one insurance company over the years as well.. We have both our vehicles and homeowners insurance with them, and also plan on upgrading to classic car insurance for the Mustang with them as well... For myself personally, our insurance company has been pretty good to us thru the years, and have never seen an increase in our policies, but rather discounts for safe driving and for owning multiple vehicles along with our homeowners insurance...If in the event my rates do happen to start jumping? I will first give them the opportunity to make things right, but if they refuse, then I'll definitely be shopping around for a new insurance company...
Meanwhile, thanks for sharing your experience, as I consider your write-up as very informative and helpful, to say the very least
thanks for the reminder, I haven't shopped insurance for a while either ...
It's a pain and time consuming but $600 in my pocket personally was well worth it. Good luck with your efforts.
I'm sure next year will still net me more savings too instead of sticking around. Even if my new company went up $300 I would still save another $300 minimum because I'm sure the original company would still keep raising the prices too. Money in our pockets is a good thing,
I was with the same co. for 20+ years, till I got my 2011 GT500, and saw what they wanted to add it to my policy.
Now I shop for ins. EVERY YEAR, if nothing else, you get a new customer discount when you switch.
I can usually save some $$$ between my vehicles & home bundle, one may be up & the other down, but overall save some money..
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I changed insurance last year. I had been with my previous company for close to 20 years, and the rate creep finally pissed me off. I saved a nearly the same as you Dave for the same coverage. I called Hagerty for my new to me '07, and with my multi car rate (my old Camaro is with Hagerty) the rate was very good.
I changed insurance last year. I had been with my previous company for close to 20 years, and the rate creep finally pissed me off. I saved a nearly the same as you Dave for the same coverage. I called Hagerty for my new to me '07, and with my multi car rate (my old Camaro is with Hagerty) the rate was very good.
Interesting how they do that increase to long time customers. It isn't right.
I figured I cut my throat on prices, upgrading from the '07 GT/CS to the '14 GT but to my surprise it was only $28 for the year. I like happy surprises like that. I asked my local agent if he wanted photos to show the 'like new' condition of the car. I don't want the insurance company to think i own an average mileage and condition car. He told me to take photographs each year and keep them. The mileage will speak for itself. wanted33 perhaps do the same thing with Hagerty for your 'new' 2007. I do that with my '01 T/A I have with Hagerty. I can't use Hagerty for this Mustang because it will be used often, especially on trips.
Interesting how they do that increase to long time customers. It isn't right.
I figured I cut my throat on prices, upgrading from the '07 GT/CS to the '14 GT but to my surprise it was only $28 for the year. I like happy surprises like that. I asked my local agent if he wanted photos to show the 'like new' condition of the car. I don't want the insurance company to think i own an average mileage and condition car. He told me to take photographs each year and keep them. The mileage will speak for itself. wanted33 perhaps do the same thing with Hagerty for your 'new' 2007. I do that with my '01 T/A I have with Hagerty. I can't use Hagerty for this Mustang because it will be used often, especially on trips.
I've had my old Camaro with Hagerty for nealry 20 years, and they insured my previous '06 GT. They were more than happy to add this one to my policy, and the price was right. It's odd that Hagerty understands older, classic cars aren't on the road that much when the big companies like State Farm, etc. doesn't.
I've had my old Camaro with Hagerty for nealry 20 years, and they insured my previous '06 GT. They were more than happy to add this one to my policy, and the price was right. It's odd that Hagerty understands older, classic cars aren't on the road that much when the big companies like State Farm, etc. doesn't.
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I get a discount on my 14 because it's driven less than 3000 / year..
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In addition to getting discounts for being driven less than 5000 miles per year, I also get discounts for being registered as a classic vehicle
@m05fastbackGT Late to remark on this post Rocky....cause I'm old don'tcha know. Here in North Carolina we don't get insurance discounts from the big companies on classic cars, so many of my friends go with Hagerty. However, we do get a property tax discount on classic cars here if they are 35 years, and older. My '67 Camaro is taxed at $500 a year as long as I keep the "Classic Auto" license tag. And the neat thing is we can run an old North Carolina license plate that matches the year of the car as long as we have the standard license tag in the car.
This car has been in the family since 1973, and I wanted it the day Dad brought it home. He wouldn't sell it to me, because he knew at 19 I would tear it up (he was probably right). Dad gave it to the wife for a wedding present, 'cause as he said "I like her better than I do you".
@m05fastbackGT Late to remark on this post Rocky....cause I'm old don'tcha know. Here in North Carolina we don't get insurance discounts from the big companies on classic cars, so many of my friends go with Hagerty. However, we do get a property tax discount on classic cars here if they are 35 years, and older. My '67 Camaro is taxed at $500 a year as long as I keep the "Classic Auto" license tag. And the neat thing is we can run an old North Carolina license plate that matches the year of the car as long as we have the standard license tag in the car.
This car has been in the family since 1973, and I wanted it the day Dad brought it home. He wouldn't sell it to me, because he knew at 19 I would tear it up (he was probably right). Dad gave it to the wife for a wedding present, 'cause as he said "I like her better than I do you".
Very strange that State Farm Insurance doesn't offer discounts in North Carolina for classic cars Jim! In fact State Farm also provides classic and collector car insurance, at least here in PA they do anyhow.. Meanwhile, I found your post as very funny when your Dad said the reason for giving his Camaro to the wife for a wedding present was he liked her better than you Also very nice pics of the "67" Camaro RS
Very strange that State Farm Insurance doesn't offer discounts in North Carolina for classic cars Jim! In fact State Farm also provides classic and collector car insurance, at least here in PA they do anyhow.. Meanwhile, I found your post as very funny when your Dad said the reason for giving his Camaro to the wife for a wedding present was he liked her better than youAlso very nice pics of the "67" Camaro RS
Dad was quite the kidder. But, I told him "tell me something I don't already know". They were thick as thieves, and she was devastated when he passed. One of the Morrison boys (Morrison Motor Cars where I got the '07), who I watched grow up, wants that little Camaro bad. When he ask me about it the wife told him, "that's my car so you will need to deal with me". He looked at me, and told him "don't look at me, you heard the lady". It got better last month. I got the car out for a little jog, and found a couple "bubbles" in the paint on the left rear quarter where the fender seam is welded. I showed her, and she said to get the car to the body shop PDQ. It's going in Monday (tommorrow).
BTW, I don't understand why State Farm in NC doesn't/didn't have the same as you folks. After I finished the restoration I took it to the agents office. He told me that it's best I call Hagerty, because he didn't think it could insure it for what the cars worth. I grew up with the guy, so I know he wouldn't steer me wrong. I dropped State Farm several years back, because they kept going up on my rates, so they may have changed since then. But I don't think they could match Hagerty's rate for what I have it valued at.
This thread is very timely. Did some shopping as I was unhappy with the continual increases in my premiums after I moved to a new carrier in 2019. After doing some checking around found I could get better coverage for premiums less than I paid in 2019. I really pays to check around every 2-4 years. Got to keep these companies honest. Even if you decide to stay with the same agent. I did move my Mustang to Hagerty. Premiums for the Roush were only $30 more than what my new insurer was quoting, and I now have stated value coverage. Don’t have to worry what the car will be valued at if something happens. Typically you will get a low ball value and your car will be considered an average middle of the road car.
Insurance is too important and continues to be expensive. Need to keep those companies in check by reviewing your premium and coverages often.
^^^shaneyusa I'm glad you checked too My thread was definitely worth posting. I was mainly 'venting' because these things upset me. No one likes being taken for granted or being unappreciated. Paying regularly year after year with no claims, or very few, should not be rewarded with annual price increases. I don't care if stolen cars are costing the insurance company big losses in the major cities. That's their problem. It doesn't apply to me in rural America. The thousands of destroyed cars in FL after Hurricane Ian will be another excuse.
7/31/22, 06:16 AM
Also very nice pics of the "67" Camaro RS 
No one likes being taken for granted or being unappreciated. Paying regularly year after year with no claims, or very few, should not be rewarded with annual price increases. I don't care if stolen cars are costing the insurance company big losses in the major cities. That's their problem. It doesn't apply to me in rural America. The thousands of destroyed cars in FL after Hurricane Ian will be another excuse.
