ZR1 insurance yesterday - ZR-1 Net Registry Forums

Corbusa · 11-05-2011

I was looking around for insurance yesterday and called 2 of the insurance companies that are for classic cars . It seems my State Farm insurer I have everything else with also has a special policy for classics ... ( SF) blew the other guys out the water ... No limit on miles, 25K coverage , $500.oo Ded., for $145.00 every 6 months - and what makes it even better is I can put it in suspension during the snow months and not have to cancel the policy . Anyway I was just really surprised and happy with the deal.. Kinda like show and tell ...
I was also just curious what everyone else has and if I am getting the deal I think I am ?

key_on · 11-05-2011

I've had the State Farm collector car policy on my ZR-1 for many years. The price is great. I've fortunately never had to make a claim against it, so I can't comment as to how good it really is. About once every five years, someone from State Farm comes to my house to look at the car, take pictures, and check the mileage.

My only concern is that the policy itself is not clear on what the limitations really are. For example, my policy does not specifically state if there is or is not a mileage limitation, what the limitations of use are, or any other specific requirements. The policy contains very generic terminology such as ... the vehicle may not be used for routine transportation purposes. If something were to happen and I had to make a claim, I could envision a scenario where there could be some differences of interpretation as to what constitutes routine transportation. Other than that, I'm happy with my coverage and cost.

Socalerv · 11-05-2011

It really depends on the limits of coverage. If you go with bare bones the numbers drop. I also have State Farm and just recently purchased my 90 ZR1. They wanted $860/yr for $300,000 liability across the board and no guarantee value. Guarntee value is VERY IMPORTANT to me. In case of a totaled or stolen situation they pay the guarnteed value not some index number. I tend to over value my cars, can't let the wife know what they are really worth.

Shopped the Classic guys, making sure their quotes had the same level of coverage and a guarantee value. Hagerty was at the same price and J C Taylor was 1/2 of the cost.

Corbusa · 11-05-2011

Thanks for the replies on the coverage .. That gives me ideas. Like - the gym I go to there are about 4-5 of us that have vettes, so maybe I could start a gym /corvette club. We meet on workout days ! Thats to main place I'd be driving it anyway ( even once a week) .. theres also a few others with some older Camaro's, Chargers etc. I think a new club might be forming..

ZONER 95 · 11-05-2011

I'll be looking into insurance shortly also.......Anybody getting their insurance thru the NCM?

Corbusa · 11-05-2011

I checked with Classic and another place in Ca.( I don't remember their name ) and both were in the $300.00 a year average ... So whatever you find out let me know , I'll always shop around for the best deal..

gbrtng · 11-05-2011

I went with Condon-Skelly about a year ago - I have 3 cars with a stated value of about 80k total and the annual premium is slightly over $600. The vehicles can be driven for occasional use but not daily to work. C-S requires an umbrella policy which I have thru SF.

The NCM insurance is for show and parades only - no trips to the grocery store.

PhillipsLT5 · 11-05-2011

You want Agreed value not stated value

lbszr · 11-06-2011

Quote:

I'll be looking into insurance shortly also.......Anybody getting their insurance thru the NCM?

Quote:

You want Agreed value not stated value

NCM is Agreed. Adam has been good to deal with, but have not had any claims. Their underwriter seemed to have good reviews. You can state how many miles your going to drive in a year, I have 3,000, exercising the car is covered, which could be everyday if you don't go over the miles. You just need another car for the groceries.

They are more than SF, but if you have more than one classic then liability is only paid once and makes the second extremely cheap. I couldn't get questions answered straight about what was covered, or not covered with SF.

NCM beat Hagarty price.

jrd1990zr1 · 11-07-2011

FYIW

I have American Collector's Insurance on my corvettes. Agreed value, 5,000 mile limitation in NY. Very competitive.

11-05-2011	#1
Corbusa Join Date: Sep 2011 Location: TN Posts: 577	ZR1 insurance yesterday I was looking around for insurance yesterday and called 2 of the insurance companies that are for classic cars . It seems my State Farm insurer I have everything else with also has a special policy for classics ... ( SF) blew the other guys out the water ... No limit on miles, 25K coverage , $500.oo Ded., for $145.00 every 6 months - and what makes it even better is I can put it in suspension during the snow months and not have to cancel the policy . Anyway I was just really surprised and happy with the deal.. Kinda like show and tell ... I was also just curious what everyone else has and if I am getting the deal I think I am ?

11-05-2011	#2
key_on Join Date: Jul 2005 Location: Lees Summit, MO Posts: 102	Re: ZR1 insurance yesterday I've had the State Farm collector car policy on my ZR-1 for many years. The price is great. I've fortunately never had to make a claim against it, so I can't comment as to how good it really is. About once every five years, someone from State Farm comes to my house to look at the car, take pictures, and check the mileage. My only concern is that the policy itself is not clear on what the limitations really are. For example, my policy does not specifically state if there is or is not a mileage limitation, what the limitations of use are, or any other specific requirements. The policy contains very generic terminology such as ... the vehicle may not be used for routine transportation purposes. If something were to happen and I had to make a claim, I could envision a scenario where there could be some differences of interpretation as to what constitutes routine transportation. Other than that, I'm happy with my coverage and cost.

11-05-2011	#3
Socalerv Join Date: Oct 2011 Location: Between Texas & Calif Posts: 120	Re: ZR1 insurance yesterday It really depends on the limits of coverage. If you go with bare bones the numbers drop. I also have State Farm and just recently purchased my 90 ZR1. They wanted $860/yr for $300,000 liability across the board and no guarantee value. Guarntee value is VERY IMPORTANT to me. In case of a totaled or stolen situation they pay the guarnteed value not some index number. I tend to over value my cars, can't let the wife know what they are really worth. Shopped the Classic guys, making sure their quotes had the same level of coverage and a guarantee value. Hagerty was at the same price and J C Taylor was 1/2 of the cost.

11-05-2011	#4
Corbusa Join Date: Sep 2011 Location: TN Posts: 577	Re: ZR1 insurance yesterday Thanks for the replies on the coverage .. That gives me ideas. Like - the gym I go to there are about 4-5 of us that have vettes, so maybe I could start a gym /corvette club. We meet on workout days ! Thats to main place I'd be driving it anyway ( even once a week) .. theres also a few others with some older Camaro's, Chargers etc. I think a new club might be forming..

11-05-2011	#5
ZONER 95 Join Date: Oct 2011 Location: Massachusetts Posts: 197	Re: ZR1 insurance yesterday I'll be looking into insurance shortly also.......Anybody getting their insurance thru the NCM?

11-05-2011	#6
Corbusa Join Date: Sep 2011 Location: TN Posts: 577	Re: ZR1 insurance yesterday I checked with Classic and another place in Ca.( I don't remember their name ) and both were in the $300.00 a year average ... So whatever you find out let me know , I'll always shop around for the best deal..

11-05-2011	#7
gbrtng Join Date: Feb 2006 Location: San Antonio area Posts: 1,182	Re: ZR1 insurance yesterday I went with Condon-Skelly about a year ago - I have 3 cars with a stated value of about 80k total and the annual premium is slightly over $600. The vehicles can be driven for occasional use but not daily to work. C-S requires an umbrella policy which I have thru SF. The NCM insurance is for show and parades only - no trips to the grocery store. __________________ “Buy the best example of what you want, and pay whatever it takes. That way, you cry only once.” ~ Bruce Meyer

11-05-2011	#8
PhillipsLT5 Join Date: Aug 2005 Location: Scottsdale, AZ Posts: 2,446	Re: ZR1 insurance yesterday You want Agreed value not stated value

11-07-2011	#10
jrd1990zr1 Join Date: Dec 2005 Location: Delanson, NY Posts: 925	Re: ZR1 insurance yesterday FYIW I have American Collector's Insurance on my corvettes. Agreed value, 5,000 mile limitation in NY. Very competitive. __________________ 1968 convertible Lemans Blue, 1986 coupe Medium Blue NCRS Top Flight (sold), 1990 ZR1 #2529 Red NCRS Regional and National Top Flight (sold), 1990 ZR1 #2124 Charcoal Metallic NCRS Top Flight 2010 & 2018, 2003 Anniversary Red Convertible (sold)