I just got a bit of a shock. I'm looking at buying an XKR so I called my insurance (Hartford through AARP) and they told me they don't insure them or the F Type.) (they don't seem to have a problem with my S2000 or with the Z06 I had insured with them before I sold it) Has anyone else encountered this. What companies are you using successfully? I will have to set up a separate policy from the 4 cars I have insured currently with Hartford. I also have a car insured through Hagerty, but the Jag is too new to qualify. Cheers!

 

 

Outsource the effort. Get an independent broker and lose the worry.

 

State Farm insures my 2014 XKR.

 

oh… that’s a stand up company, all right. Houses in an old neighborhood of mine, built on a flood plain, had significant flooding for 2 years. My house was not on the flood plain but without notice they cancelled my all inclusive insurance plan citing the flooding issues… effective immediately. BTW, I never had a claim with them in 2 years.

 

Yeah, the Hartford wouldn't insure mine either. That's the ONLY company who won't though. You picked a bad one. They are more expensive and harder to work with anyway, so no worry there, just ignore that company forever.

 

You didn't tell us anything about your new-to-you XKR's model year or any details - is it an XKR, XKR-S, XKR-S GT and does it have any mods?

My 2009 XKR Portfolio Convertible has been insured for years by Hagerty at a Guaranteed Value. It is kept in my garage and is not my daily driver, and I drive it less than 3,500 miles per year. It has a few mods - see my signature.

I don't know why Hagerty won't insure your XKR.

 

I have the Hartford through AARP and they insured my 2012 XK. Is it just the R they are not insuring?

 

Hello all. Thank you for the feedback. I've calmed down and will call my insurance broker today. Also, I was probably wrong about Hagerty. I have another car insured through them and I will call them today. I'm looking at XKR's '07 to '09 preferably. If I run across a manual F Type, I would consider that as well. Cheers!

 

Will do!

 

For fun I just ran a 2010 XKR through the Hartford Quote System and got this:

SORRY, WE CAN'T INSURE YOUR CAR

 

Sure enough. I called Hagerty and they would just add to my existing policy. Now all I have to do is find the right XKR! At least now I have peace of mind that I can get it covered.
Cheers!

 

Hartford won't insure my '14 XK Touring, so my agent got a policy with Progressive for the Jag. I'd conject it is the aluminum body and the challenge of sourcing parts rather than the extra power of the R series. But I don't know for sure.

 

Erie. Hands down the best home and auto insurer I have ever dealt with in my life. Interestingly enough, their business model is a hybrid old-school model. They have agencies you get to (not have to) deal with locally via email or calls to get things done, but you can still pull policy docs and quotes and such online. They also don't do a ton of advertising. Word of mouth primarily and it works out well. They can roll those cost savings and pass them on to the consumer. Other insurers tend to thrive on attrition and quantity more than anything. It's literally the model and not how it should be.

Since I am after (eventually) and F-Type or XKR myself, I asked my agent today. Said no problem at all and was surprised I mentioned someone had said their current company would balk at it. He did say, though it could be due to cost of repairs, availability of parts, etc. that could lead to a total quicker. He said from a power and specification standpoint, it's not even really that obscene and risky.

 

I went through Hagerty. Got agreed value policy for less than 500/yr. Includes collision/liabilty/comp

 

The amount of the premium is meaningless without knowing the amount of the guaranteed coverage and deductibles.

P.S. Rates vary by state and city, area crime rate (carjackings), credit rating, claims history, driving record, age, used for commuting or pleasure, and other factors.

Next door neighbors who are male and are the same age and who drive identical cars shouldn't assume their auto premiums will be the same. Other factors can make a big difference. That's why it pays to shop around.

 

On the negative side, the days of Erie's cost savings are gone. You can expect "substantial rate increases" caused by elevated losses from catastrophe claims in 2023.

On the positive side, from a financial management standpoint, AM Best, the company that issues credit ratings to insurance companies, recently gave members of the Erie Group "... Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) of the property/casualty (P/C) members of Erie Insurance Group (Erie). Additionally, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Erie Family Life Insurance Company (EFL). The outlook of these Credit Ratings (ratings) is stable."
AM Best Press Release August 10, 2023 Erie Insurance

Erie had no choice but to raise their rates. An insurance company that can't pay claims is as useful as an ejection seat in a helicopter,

 

Interesting take, but I cannot say that this has been my experience. In fact, my rates have not gone up they remained steady (and low) since I've been in business with them. Additionally, we had a pretty significant homeowners claim back in 2022 and had zero problems whatsoever. Didn't even raise my rates across homeowners or Auto insurance. I feel like this situation was born out of a series of unfortunate events and waves of claims and I feel like the way the insurance industry is set up, this could happen to anybody. In fact I do recall a very similar story and situation about Nationwide some years back due to so many Florida claims.

That being said, insurance pricing is kind of a crapshoot from one person to another. They are definitely worth a look and I would not for a minute be worried they wouldn't be able to pay a claim they're not the general or some fintech insurance company. They've been around for a very long time. What works for me and others may not work for others and vice versa.

 

Thanks for all the information. I will keep them in mind when I renew my homeowners policy (Travelers) to see how they match up. As for Hagerty, I used an '09 XKR convertible as an example for a quote with a replacement value of 45k. They added it to my existing policy for my classic Jeep Grand Wagoneer. Hagerty said it would only add around $550 a year with 1k deductible. I'm very pleased and will resume the hunt for an XKR.
Cheers!

 

Wait for your next renewal premium letter. Make sure that you're sitting down before you open it.
https://www.forbes.com/advisor/car-i...ce-costs-rise/