Possible to divide insurance?

[Motegi]

I am in the process of getting insurance quotes for my vehicles. It seems as if the policy premiums are roughly equivalent across insurance companies with the exception of Costco which is much less expensive than everyone else but may or may not be able to cover the NSX (they will call me back).

My question is if it is possible to divide the coverage of the vehicles among different insurance companies. In other words keep the NSX under my current company but switch the others to Costco? Much to my aggravation the insurance agents dodge this question.

 

[NsXMas]

Of course you can!! I do the same with my NSX and my other cars.

 

[CDX_NSX]

Hey Koji,

Yes, you can. There is no rule stating that you have to insure all of your cars with one company.

 

[NsXMas]

By the way, what's the link to CostCo insurance? I didn't know they sold insurance. I buy all of my stuff from CostCo.

 

[ANYTIME]

After crashing my 97 (total loss), I did try to get insurance on the NSX alone (The replacement 00) and found that most companies want all your cars, or you get no discount (how may cars can you really drive at once?). My premiums on just the NSX were going to go from 8XX every year, to 17XX every year, based on the accident, and it being a pleasure vehicle that travels 8501 miles or less per year. After searching around, I found that AAA had some comparable rates to my pre crash rates with Farmers. My Farmers agent actually told me that they were out more money after settleing my loss than I had payed them over my many years with them. Excuse me? I wasn't aware that you were keeping track and I certainly don't remember hearing anything about this being similar to a bank account, with pluses and minuses being calculated. It was that day that I informed her that I no longer needed her services. BTW, One kink in the whole insurance research was that I needed homeowners as well as insurance on the NSX. Not to many companies do both. Good luck in your search.
John

 

[NsXMas]

The insurance companies use a database now to track people's driving records and accidents. Unfortunately it can be abused.

 

[Motegi]

Thanks for the info!

Costco auto insurance underwritten by American Express. You can get more info at costco.com by clicking on additional services.

I just called Allstate who is my current insurer and the lady stated that "all of your cars must be insured by us". Having been told this would I get in trouble later by dropping some cars off of the policy and signing them with someone else?

Anyone have any experience with having multiple insurances w/ Allstate being one of the carriers?

CDX_NSX: Have we met?

 

[CDX_NSX]

CDX_NSX: Have we met?

Yes, we have... Sort of.

You have email... soon.

 

[Hrant]

A few months ago there was similar discussion on insurance policies, and I was quite surprised at the premium rates people were quoting, especially those noting less than $1000 per year with about 5000 miles on 97+ models ......... while I think this is in part due to where the cutoffs were pegged (I have 100K/300K) there is more to the story.

I did call Wawanesa Insurance (based in San Diego) and their rate on the NSX was almost $1000 less than the AAA, about $700 vs. $1626 though AAA had some more favorable options!!! But the key reason was in the collision and comprehensive rates; AAA considers the NSX as a high repair cost/accident risk vehicle while Wawanesa does not.

While Wawanesa's sales approach is not very Internet friendly where you can play with various options - you have to call them, get a written quote, no local office ...... I am still very tempted to switch but have not heard much about them as a company or from policy holders who had to use their policy. I have had no problems with AAA whenever an issue has come up, home is insured with them as well; one advantage with AAA, they had a policy where they can't drop you if you have been with them for 5 years. I don't know if that still is valid.

 

[NsXMas]

Hrant, if I were you I'd switch in a heart beat. I have researched Wawanesa and found nothing but praise for them. Unfortunately they only insure in selected locations, and I'm not in one of those states, so I can't choose them.

 

[CDX_NSX]

Koji, you might want to check with your State's Insurance Commission to see if there are any regulations pertaining to this issue.

 

[nsxtasy]

There are various ways to evaluate insurance companies, and cost is not the only criterion. You want proper customer service to handle any changes to your policy, and you want any claims to be settled fairly and quickly.

You can see the results of the latest J.D.Power ratings of automobile insurance companies here.