jetbluez06

Anyone have any feedback on this insurance. I got a quote and price was good, but collector car insurance seemed awful restrictive!

foreverfuelie

IMO, it depends on what you want to do with the car. If "pleasure only" driving is not what you intend on doing, then yes it is restrictive. Otherwise, if you don't use the car as a DD, and drive it only for pleasure, and your agreed upon annual milage would fall within those limits you agree to set, seems like a reasonable deal to me.

UltimateVette

I changed to NCM from Hagarty several years ago. They gave me the same coverage for a better price. They explained the reason was they don't work on commission like Hagarty thus the lower price.

Gmyooper

I just signed up with NCM insurance yesterday. Cheaper then my progressive and half as much as hagerty. Bobbi Jo was very helpful. I won't put more then 6k miles in a season in Michigan.

Gary '09 C6

works for me...

anders1118

Hey i'm also from Michigan, how much are you paying if you don't mind me asking.

67*427

I was surprised at the restrictions with NCM insurance. I can understand the 3000 mile per year limit and I have no issue with that. When asked if it was alright to take the car to supper (that's what I'd call pleasure driving) I was told "NO that's not okay". I was told that it depended what the "intent" was when i left the house..... If I went for a pleasure drive and decided to stop for a meal, that was okay but if I left the house planning to stop for a meal, that wasn't okay. I find that to be too "mealy mouthed" to be comfortable with. Incidentally, I have asked Hagerty a similar question and they did not indicate that kind of a restriction. Their position was "pleasure use only" which is fine with me.

FWIW, Hagerty was MUCH more expensive than NCM for my '15 Z06 but my "regular" insurance company was very competitive with NCM but without the agreed value coverage. I wish SOMEONE (that had agreed value coverage) would simply say, "pleasure use only, 3000 miles per year limit". I could live with that.

Steve

Gmyooper

Intalked to Bobbi Jo and she explained it better then the regular sales reps. I feel comfortable with my intents in the " pleasure " use.
I payed $800 a year with a value of 35k and 6k miles.

AZDoug

I have NCM ins on my '61 and '72 corvettes , the '79 Ferrari, and '37 Ford pickup streetrod.

I got a quote for my upcoming Z06, and while it was fair, I can get the coverage cheaper through my regular carrier, at around $900/year, no restriction on usage or miles.

But, that is not an agreed value policy.

I will probably keep it with them for 2-3 years, then switch it over to NCM after I get my fill of driving in.

NCM is a bargain if you have multiple vehicles that are not used very much.

Doug

arcticblast

If you insure multiple Corvettes, it can't be beat for the pricing.

Thomasmoto

I actually went to the insurance class they had at the NCM bday bash a couple of weeks ago. If you have a late model is Z06 and want to drive it much at all they really don't want to insure it. They said that right away. To make a very long story a bit shorter, you can't get agreed value ins on it. Your best way is to check on the property limits of whatever ins you have now and make sure that they increase it if need be. Most state minimums are only 25K and they keep it at that to keep prices lower for those that change or shop often. I even had 1 Allstate agent tell me that I couldn't raise it which was BS. It usually doesn't go up that much. I think mine was about $55.00 per month, I have it drafted , for $100K in property minimum. Do be aware that they usually have to raise that amount of property ins to every car you have. Not just your Corvette. I've had to deal with all this crap a lot after having 2 Corvettes involved in accidents in the same 6 weeks. Neither was my fault AT ALL and I full well expect to be dropped from them soon.

Bill Dearborn

The $25K property limits I have seen are for liability not your car. If you hit and total somebody else's $100K car your insurance will only pay $25K.

If you total your car your collision will pay what the car is worth based on whatever book they use minus the deductible.

Bill

tbrenny33

I'm also using NCM for insurance, I got several quotes from other carriers and they were crazy some wanted 3-$5000 a year!

Thomasmoto

Sorry, that's not what happened to me. Accident 1 we were struck by a hit and run driver. My ins co. Allstate filed it under uninsured motorist since the perpetrator is unknown. Accident #2 we were rear-ended by an illegal alien who had no license, but minimum coverage so now my ins co Allstate is picking up what his policy is limited to. Maybe unusual circumstances. My agent had told me time and again that I had enough coverage, but when the first adjuster came to inspect the car the first words out of his mouth was " I sure hope you have extra coverage on your car ". I'm still battling with all this crap. So the point is, you can't count on the other guys insurance being enough. My agent thought the same way.

Thomasmoto

BTW the liability insiurance have is 100K, 300K. And I probably should get that raised. The guys that hit me had nothing, as well as the first being unknown, but if I hit someone in a very expensive car I would probably be sued over any shortage my insurance didn't cover. As in house, land or liens against property or future wages.

LT1xL82

Be seriously sure the coverage is well understood when buying specialty insurance.

What would not even be a question with typical car policies can be a major problem with specialty insurance. They are 2 different animals!

Adam Boca

I had a great conversation with Steve today while he was picking up his new Corvette. Great guy!

He expressed his concerns and hopefully I helped him better understand our position. Some of the situations were taking his wife out to dinner or meeting friends for food. These are 100% A-OK with us, and would fall under the pleasure use situation.

That is quite a broad statement from what I said in the seminar.

What I actually said in the seminar was:

We have several mileage options, 1,000, 3,000 and 6,000 miles per year. If you are using the car for your daily use vehicle then we can not insure it. If you are using it to run errands, Dr's appointments, or just general usage we can not insure it.

In that seminar I went further to discuss the MANY different types of use we do cover, which is below.

We insure MANY Z06s with the 6,000 miles per year or less option. These cars are used for car shows, club events, parades, occasional pleasure use, coming here to the Museum, Carlisle or any other car function, we also have the 9-5 Endorsement which allows you to use the car up to 2 times per week to take it to work.

I also went further to say that if you were to stop at the store on the way back from a car show or club function and quickly swing in and out you would be 100% fine. If the sole purpose is to run errands, we aren't the right coverage for you.

I often tell folks too, that this coverage isn't the best coverage for every owner, car, etc. No need to take it personal.

tbrenny33

If you are using it for pleasure as opposed to club events how would they know the difference? As long as you aren't going over the miles limit.

Thomasmoto

I didn't take it personal at all. I dd mine. Have 10K on it already. I simply meant that dd's aren't good matches for collector ins. My only other point was that considering car ins with so many " gray areas" isn't something I want and encourage others to consider at their own risk. The plain and simple truth is as long as you don't have a claim its great, but the minute you call for any auto claim their claims adjusters job is to pay out the least that they can. And with an argument starting about what your intentions were when you decided to drive your car its going to get ugly quick and us as the owners of the car have to accept your ins companies values and expenditures. IE we don't have a leg to stand on or a way to make you pay. And quite frankly I wouldn't even believe you if you said that you would. I have been screwed over by enough ins companies to know that is the truth. So I choose to drive my car and take my chances and enjoy my car. If it gets destroyed or worse I already know what I'm in for and will just have to fight those battles as they come. I think that the majority of those who buy a new Z will only drive it minimally and your ins co should be fine for them.

Adam Boca

Many people fail to realize that the job of an insurance company is to pay claims.

I am here to fight for my customers in the event of a loss if needed. I have had 3 claims denied out of hundreds.

2 were for on track drag racing
1 was for the vehicle being kept outside for MANY months

You are correct, we will not insure daily drivers. We just aren't the right fit.

We don't take the approach "pay as little as possible", you will find this with some standard auto carriers. They also point you to the shop of THEIR choice, and we tell you to take it to your shop. We will make the situation as right as possible.

Adam