Classic car insurance??
 

First question, those of you that have it would you recommend it. I don’t put 5000 miles on my car year so I think I qualify. I’m also curious to hear of any of you that have submitted a claim with classic insurance. I’d like to know if it is more difficult to complete the claim then with ordinary insurance. Or if you feel that you were well compensated or under compensated. And finally which ones would you recommend And why?


Dave

Re: Classic car insurance??
 

I’ve got Collector Car Insurance on 2 Cars. I did have Leland-West years ago which is a broker for A.M.I.G. and had a claim on a 64 Nova and A.M.IG. did everything possible to keep from paying of the full claim,accident not my fault. Then I had Haggerty, they raised my rates after the Russo and Steel nightmare in Arizona so I canceled with them and went with CCI. 12 month premium is $350 @$40,000 agreed value on my Z and $15,000 agreed value on my Nova Convertible.

Re: Classic car insurance??
 

I’ve had classic car insurance since ‘84 with several companies. Started with condon & skelly then switched to haggarty simply to save $$. In all these years I never had a claim but figured my first claim would be the only one they would ever pay. A good friends C5 ran away from home unattended last July crosssed the street and ended up in his neighbors house. He had NCM insurance. They totaled his car and he had the check before Carlysle. He found aa C6 on Friday and brought it home. After all that’s what you do with “Corvette Money”. I decided to check thier rates and found that for the exact same coverage I could save over $300 yearly over hagerty. They even have a discount for being a museum member so you can support the museum and save $$. Win win. I dealt with Adam who was quite helpful and knowledgeable about our cars and the folks that drive them. I don’t recommend much but give them a call. I think you will be pleased with what they can do. Cheers


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Re: Classic car insurance??
 

Well said, and quite true!
Having tried most all over 30 years, it's NCM for me, and everyone that asks me that question.
The carrier is important, but the agent / agency is what makes the difference for me!
Adam, Bobbie Jo and all of their staff are simply the best to work with!
I would pay more for the quality of service that they provide, but guess what? They have saved me quite a bit over the years!
All of that, and it is also supporting the Museum!
Have no fear switching to a classic or collector stated value policy. You will likely have far better coverage than through your regular carrier, particularly the stated value security rather than diminished value of a regular policy.
You will also save money, and better yet, deal with great people.
Nothing else to think about.
NCM!
Marty

Re: Classic car insurance??
 

Agreed! I’m with NCM too.
H
:cheers:

Re: Classic car insurance??
 

My Z was insured with State Farm with my other cars, home and umbrella policy. Cost about $850/year with unknown value if totaled. At Carlisle I got quotes from both Haggerty and Grundy, one was about the same as State Farm but with agreed upon value of $35,000 and the other $275/year with the same agreed upon value of $35,000. I went to my State Farm agent to show him a copy of the $275/year as it looked too good to be true. He said it was great coverage.....then said, "your car is now 25 years old, sure I can beat that". Sure enough, State Farm offers collector car insurance for cars 25 years old and now I am covered at an agreed upon value of $39,500 for $250/year.

Re: Classic car insurance??
 

Another vote for NCM and Adam. I've got 3 Corvettes with them, 1967, 427 3X2 Coupe has $100K 1995 ZR-1 has $25K and a 1984 that has mostly sentimental value has $8,000. My yearly premium is a fuzz less than $1,000.



:USFlag:

Re: Classic car insurance??
 

Another one for NCM and Adam. I had Hagerty the first year because I had them on my Nova. They are great too - but I got a less restrictive policy for $200 a year cheaper thru NCM...
My insurance broker can get the same ins as NCM, but I turned him down to stay with Adam. I figure he would be more likely to go to bat for me in case of a loss since he is associated with Corvettes and knows what a ZR-1 actually IS...

Re: Classic car insurance??
 

I've seen Adam on the listserv and on facebook groups looking for parts. That's all I need to know. Plus the pricing is perfect

Re: Classic car insurance??
 

Another vote for the museum. We have 5 cars with an agreed value on them thru the museum. Very happy with the price. Never had to make a claim, so can't help there.

Re: Classic car insurance??
 

I will be switching to the NCM for insurance.. Much better rate and a bit better coverage compared to what I have

Re: Classic car insurance??
 

Same experience here with State Farm


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Re: Classic car insurance??
 

Even if I wanted State Farm insurance, I don't think my car would apply
I put the line in BOLD that I think lends to interpretation. Many of us here have showroom stock automobiles. I don't

When I called NCM, their insurance allows for the few personal touches I have added to my car and it is still insured as a stock car..

Re: Classic car insurance??
 

That is a great agreed upon value 39,500.....I see you have a 390ci.Zr-1...
Is it insured as a stock ZR-1 or modified?

I would venture to guess modified...I mean with prices the way they are on a Z,would an insurance company agree on a value that high?

I think I'm going to up my agreed upon value.....I have condon & skelly northeast classic....Its insured for 23,000......It is modified now with basically a Haibeck 510 package...Its actually Dempseys dragon heart package 522 HP......Should I tell the ins. its modified? Or just say its stock?

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Re: Classic car insurance??
 

You are dangerously underinsured.
There is no way that I could replace your car for $23,000.00.
If it costs 35 or more to replace it why would you not insure it for that amount?
Marty

Re: Classic car insurance??
 

Yes....I'm going to notify condon & skelly..Have had them for 15 years now with my other Corvette.....Two claims in 15 years....

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Re: Classic car insurance??
 

I have my stock 90 insured for $32,000

Re: Classic car insurance??
 

The cost difference between $35,000 agreed upon value and $40,000 was only $4/year. However if you are at $40,000 or higher, the underwriters will require a third party appraisal. At $39,500 they only needed photos of the car.

Re: Classic car insurance??
 

Although the 74 is still apart and with American Modern Ins....I was also thinking about doing the same with the ZR-1. I decided against it and kept it on my regular State Farm Ins. plan. Reason being is that I can use the Z anytime, anyplace, overnight, etc., and not worry about being covered if something does happen. Sure it cost a little bit more, but I also keep the cost down by taking it out of service for a few months each year when I'm not really driving it during the snow months. And I don't drive more than 5,000 miles per year and that keeps it emission exempt each year here in PA. :)

Re: Classic car insurance??
 

I had a recent unpleasant experience with my insurance company regarding an agreed value policy. To get an "Agreed Value" policy for my ZR-1, and then for my new Z06, I switched to a Nationwide company and they gave me a $50,000 value on the 95 ZR-1. Because of this and high agreed values on my two BMWs I switched everything to them. When I got the 2016 Z06 they did the "Agreed Value" at $92,000, which I was happy with. Didn't pay enough attention to the fine print. When my renewal came around they had dropped the Z06's "Agreed Value" to $66,000 one year later. I didn't agree to that, but it turns out they can change the "Agreed Value" any time they want. So it is not really "Agreed " to and then set until both parties agree on something else. It is what ever the insurance company wants it to be. That value is low wholesale for my car. I finally got them up to NADA retail of $71,000, which is where most cars are insured. But it took 6 months. Nationwide did offer a different new car coverage, which my agent signed me up for, that for three years would reimburse for original cost in the event of a total loss. But this time I read the fine print. The coverage specifically excluded losses by fire, theft or flood, the only likely causes of a total loss other then my own death in the car. I cancelled that and probably will be looking around for a new insurance company soon. -Bob