Q:How do you insure a JDM imported Pajero? A:Make you agent do work

"ITA97, now with more Jag @ opposite-lock.com" (ita97) 02/27/2020 at 18:12 • Filed to: None

8

15

I made my insurance agent do some work this morning and got the Pajero insured. I had gotten a quote from Hagerty before I bought it just to make sure I could insure the truck in the worst case. They said sure, for $67/month and the usual classic/specialty car insurance policy restrictions.

Folks online indicated they had been successful getting State Farm to insure imported cars, which is handy since I’m a lifelong State Farm insurance customer. Apparently not all insurance companies can/will deal with insuring imported vehicles with non-standard VIN numbers that don’t exist in North American databases and for which book values also don’t exist.

Once we got past the initial “a what?” question when they asked make and model, the rest was pretty easy on my part. He took the information, made a copy of the purchase paperwork and the import documents and took some pictures and told me he’d get on the phone with underwriting and get back to me with a quote.

Apparently he spent a couple of hours with underwriting, but by lunchtime I had a standard full coverage policy at an agreed value of $14000 for $37/month and no restrictions on use.

Even though the truck was technically covered under my existing F-150 policy under the clause that any purchase is automatically covered for 30 days under that policy, I cringed at the thought of having to make a claim under that with something like the Pajero. Now that it is fully insured and everyone agrees on what it is and what it i s worth, I feel like I can really start getting go know it and what it can do.

Next step, title and registration. Currently it is on a Virginia temporary tag.

If only EssExTee could be so grossly incandescent > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 18:18

0

Couldn't they just use the rates for a Montero?

ITA97, now with more Jag @ opposite-lock.com > If only EssExTee could be so grossly incandescent 02/27/2020 at 18:21

1

Not really, at least in terms of value they would be on the hook for in a collision or comprehensive claim . A US market Montero has a book value of not more than a few thousand dollars at this point.

In terms of claims experience, maybe.

Jim Spanfeller > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 18:31

1

I re commend Hagerty. I have Hagerty insurance for my Thunderbird, and it’s pretty good. There’s some nice perks, and they send you a magazine every couple months, which I like because their magazines tend to have really good articles. As far as insurance companies go, Hagerty’s the one that most genuinely seems to be run by people who really love  cars and want to support the car community. 

fintail > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 18:33

2

That doesn’t sound like a terrible rate with no restrictions. I have Hagerty for the fintail, which is a fraction of that, but a lower agreed value, and restrictions.

I remember way back when, when I bought a not too ancient MB C43 AMG. The model was low enough sales/production volume that somehow it didn’t work in the Farmers database - they thought it was a grey market car.

ITA97, now with more Jag @ opposite-lock.com > Jim Spanfeller 02/27/2020 at 18:35

1

They’re certainly good at what they do, but it comes with some restrictions centered around only occasional or hobby use of the vehicle. Collector/classic car policies usually only allow not more than 5-6k/year mileage, locked, covered storage, and very little or no commuting/normal use and a limited number of nights per month outside its usual storage.

I could make that work with the Pajero if I really had to, but there's no reason to spend more money for much more restrictive coverage in this case.

ITA97, now with more Jag @ opposite-lock.com > fintail 02/27/2020 at 18:38

1

I had gotten the Hagerty quote just to make sure I had a backup plan in case State Farm couldn't make it happen.  I don't want to deal with the restrictions in this case unless I had no other choice.  

Jim Spanfeller > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 18:39

0

That’s fair. Although I don’t remember a lot of those restrictions in my insurance plan...

If only EssExTee could be so grossly incandescent > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 18:42

0

I was thinking more in terms of safety equipment/rollover risk/etc since it’s effectively  same vehicle.

fintail > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 18:50

1

Yeah, the restrictions might be onerous for some - I think it is 2500 miles/year and it must be garaged.    I have no problem meeting those as I think the car would be very unhappy if it didn’t fit into both.

SBA Thanks You For All The Fish > Jim Spanfeller 02/27/2020 at 18:56

2

What I remember about Hagerty was a great rate the first year, then an eye-popping rate at renewal the next. No tickets in 10 years, no accidents, ever.

They lost me at “500% of the rate State Farm quoted”.   Nice guys, but it seemed a little bait-and-switchy

functionoverfashion > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 21:10

2

ITA97, now with MORE JDM YO

ITA97, now with more Jag @ opposite-lock.com > functionoverfashion 02/27/2020 at 21:23

0

4 lyfe, yo.  Or is that now how the kids these days say it?

functionoverfashion > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 21:31

1

My kids say “for real life” when they want to emphasize a point. But they’re 5 and 7 so who knows. 

ITA97, now with more Jag @ opposite-lock.com > functionoverfashion 02/27/2020 at 21:34

1

They're probably closer to be being cool than any of us at this point.

shop-teacher > ITA97, now with more Jag @ opposite-lock.com 02/27/2020 at 23:48

1

Nice price!