New to me AMG GTS and Insurance
#1
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Thread Starter
New to me AMG GTS and Insurance
I recently purchased a 2017 AMG GTS. It was a one-owner, always garaged Southern California car. The car is 7 years old and had 13,000 miles on it. As I drove away I called Hagerty, who has insured all my previous sports cars to add it to my policy. Someone took all my info and said because this was considered a 'supercar' it would have to get elevated. About two hours later someone called and told me they were denying me coverage. They said to call back after a year of ownership. Has this happened to anyone after purchasing this car. I have no accidents, no claims on previous cars.
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Highline-Autos.com (09-06-2024)
#2
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2014 E63S; AMS 100 octane ecu tune; edok tcu tune; BB intakes; dyno tuned
Never heard of this ... seems absurd - time to shop other insurance companies
#6
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2001 E55AMG
That doesn't sound right, according to their own website they cover "newer exotic cars". Are you planning on daily driving the vehicle? I know they will not cover daily driver use no matter the vehicle, that is the only thing I can think of.
Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777
Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777
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#8
Member
Insurance is pretty inflated across the board. My broker agent said she has no violations and her auto rate went up 30%. Similar to HHS550 I pay about $1300 every six months for my GT and a 2005 Lexus GX. Before I bought my GT, 2 years ago, I had my agent quote it and a 2020 Ferrari California. Only company that would cover my GT was Progressive. And they couldn't find anyone to cover the Ferrari. The GT is considered more of a "super car" but more so the price of it and the parts make it more difficult to insure. That is true with pretty much all high end vehicles. Another factor is your driving record. I don't think you mentioned that in the post. That may have been the reason they denied you.
#9
Anyone ever chose this path? Positives/Negatives?
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
#10
Member
Anyone ever chose this path? Positives/Negatives?
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
#11
That doesn't sound right, according to their own website they cover "newer exotic cars". Are you planning on daily driving the vehicle? I know they will not cover daily driver use no matter the vehicle, that is the only thing I can think of.
Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777
Trenton O. Gibson
tgibson@highline-autos.com
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777
Hagerty can be picky about what cars they cover and how old they are. I stopped using them several years ago. Unless you want an agreed/guaranteed value, you may find better options with household name insurance companies.
#12
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2020 GTA; 2022 Audi e-tron GT, 2022 Ford F-150; 1926 Rolls-Royce Springfield 40/50 Playboy roadster
Anyone ever chose this path? Positives/Negatives?
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
#13
Yup, that's the first thought that came to my mind. Would my personal umbrella policy kick in? Will putting all my vehicles in an LLC shelter me?
#14
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2020 GTA; 2022 Audi e-tron GT, 2022 Ford F-150; 1926 Rolls-Royce Springfield 40/50 Playboy roadster
No and no (as to the latter question, if you are the operator; some states limit the liability of the owner). An umbrella policy will require certain minimum limits for primary coverage. And a bond will not be sufficient. The most uncertain cost involved in an accident is legal fees if a lawsuit is filed.
#15
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AMG GTC Roadster, E63s Ed.1, M8 Comp. Coupe
Paid under $1k a year with Progressive for a AMG GTC roadster. $500 deductible, all the usual add-ons...
#16
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Anyone ever chose this path? Positives/Negatives?
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
In California, motorists can post a bond instead of carrying auto insurance, but it's not a common practice. Here's a summary of the costs and terms: *Bond Requirements:* 1. *Amount:* $35,000 bond (surety bond or cash deposit)2. *Duration:* Bond remains in effect for 3 years3. *Purpose:* Ensures financial responsibility for damages or injuries caused by the motorist *Costs:* 1. *Bond premium:* 1.5% to 3% of the bond amount annually (e.g., $525 to $1,050 per year)2. *Filing fee:* $25 (one-time payment)3. *Collateral:* May require collateral (e.g., cash, securities) to secure the bond *Terms:* 1. *Motorist must:* Maintain a clean driving record and comply with California's financial responsibility laws2. *Bond may be:* Canceled or revoked if the motorist fails to meet requirements or is involved in an accident without sufficient funds3. *Alternative:* Motorists can also deposit $35,000 in cash with the DMV instead of posting a bond.
#17
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#18
There's California and there's South OC. Best weather, healthcare, car culture, restaurants, entertainment, beaches, hiking, bicycle trails, incredible private schools etc. I understand it is not for everyone but if you ignore the politics and have the means it is hard to beat. Only other place I would personally consider is Maui but healthcare is crap and as we get older it starts to rank high. BTW, Doctors make house calls here. If you're in SoCal, beer is on me.
Last edited by HHS550; 09-11-2024 at 08:07 PM.
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#20
#22
New user here - I saw this thread and felt it was time to join! I have a 2016 GTS. I bought it in May from a dealership in Tennessee. I've been using Hagerty for my BMW motorcycle and my 1956 Ford F500 pickup truck for several years. When i needed to get insurance for my GTS I called Hagerty and got the same info. It's a "supercar" and it was escalated to underwriting. The underwriters asked me specifically about my experience operating vehicles of this magnitude. I explained that I have experience, what that experience is, and that I am comfortable behind the wheel. We engaged in some further conversation about that. That interview process is what allows the underwriters to say yay or nay to the policy. Did you have that conversation and if so, what were your responses? I pay $1,100 for all three vehicles for the year. Which isn't bad considering I pay $112 per month for my Volvo V90.
#23
Member
New user here - I saw this thread and felt it was time to join! I have a 2016 GTS. I bought it in May from a dealership in Tennessee. I've been using Hagerty for my BMW motorcycle and my 1956 Ford F500 pickup truck for several years. When i needed to get insurance for my GTS I called Hagerty and got the same info. It's a "supercar" and it was escalated to underwriting. The underwriters asked me specifically about my experience operating vehicles of this magnitude. I explained that I have experience, what that experience is, and that I am comfortable behind the wheel. We engaged in some further conversation about that. That interview process is what allows the underwriters to say yay or nay to the policy. Did you have that conversation and if so, what were your responses? I pay $1,100 for all three vehicles for the year. Which isn't bad considering I pay $112 per month for my Volvo V90.
#25
Newbie
Thread Starter
Thanks for the reply. I decided I was not going to attempt to convince Hagerty to take my money. If they don't want to insure me, that is their financial loss.