Insuring a midyear Corvette
Thread Starter
Le Mans Master
Joined: Oct 2007
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From: Richmond Kentucky
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Insuring a midyear Corvette
Has anyone had any experience, good or bad, with insuring their C2 Corvette with Safeco Ins. Co.?
Thread Starter
Le Mans Master
Joined: Oct 2007
Posts: 6,014
Likes: 1,763
From: Richmond Kentucky
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Safeco is offering 1 yr coverage ($50K value each {a little low}) for my 64 and 67 for $285 / year. Not one, but both for $285! Almost sounds too good tobe true. That's why I was asking for anyone's past experiences w/Safeco. I am currently with American Collectors for $597for both annually. Hmmmmmmmmm. To change or not to change? That is the question.
Thread Starter
Le Mans Master
Joined: Oct 2007
Posts: 6,014
Likes: 1,763
From: Richmond Kentucky
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None that I am aware of, but I am going to talk to my agent tomorrow. Since I told them that I drive the 64 about 100 miles and the 67 maybe 500 miles annually, perhaps that is the reason for the "seemingly" unbelievable rate.
Burning Brakes
Joined: Dec 2006
Posts: 965
Likes: 3
From: St. Charles/Cave Creek IL/AZ
SAFECO is one of the big national companies
As far as I know, they are a very reputable company.
While researching collector car coverage, SAFECO never floated to the surface, which leads me to believe that they offer regular coverage like I have from Auto Owners Ins.
That means none of the pesky restrictions on driving or garaging, to which I object. However, in the event of a loss, they will ask for proof that the stated value you have insured it for is (was) accurate.
The collector car companies settle that up front, the standard insurers do it at time of claim.
While researching collector car coverage, SAFECO never floated to the surface, which leads me to believe that they offer regular coverage like I have from Auto Owners Ins.
That means none of the pesky restrictions on driving or garaging, to which I object. However, in the event of a loss, they will ask for proof that the stated value you have insured it for is (was) accurate.
The collector car companies settle that up front, the standard insurers do it at time of claim.
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Melting Slicks
Joined: Nov 2004
Posts: 2,302
Likes: 26
From: Cave Creek AZ
The only restrictions on my Hagerty policy are ..... you must have a daily driver vehicle & when at home your classic car must be kept in a locked garage. When on the road they say "have a good time & call us if you need help". There are no mileage restrictions. In the past 12 months I have driven my Coupe over 15,000 miles. I called them prior to the last two "big" cruises to advise them where I was going. This included a 1,500 mile cruise across Canada (they sent me a Canadian insurance card). $90,000.00 agreed value is $630.00 annually. When my windshield cracked from a stone last year, they sent me a check in about a week.
Roy
Roy
Burning Brakes
Joined: Aug 2005
Posts: 1,133
Likes: 2
From: Corona CA
I don't have any info to share but would very much like to hear more about this less expensive possibility. As it happens I am looking to get a new policy this week. I have looked into a couple of the other popular specialty policies which run about 2x this safeco price.
Please keep us updated on what you find.
Thanks
Darren
Please keep us updated on what you find.
Thanks
Darren
Racer
Joined: Nov 2003
Posts: 336
Likes: 0
From: dayton oh
State Farm 60 K agreed value 1k deductible 3000 miles per year all the bells and whistles $140.00 per year. Under their classic policy.
I went thru this same thing on another site so before you start declaring it can't be true, call a good agent that knows about S F classic plan and get a quote. Then with all the money you will save you can send me to dinner.
I went thru this same thing on another site so before you start declaring it can't be true, call a good agent that knows about S F classic plan and get a quote. Then with all the money you will save you can send me to dinner.
Last edited by 66rag427; Jun 3, 2008 at 02:12 PM.
Le Mans Master
Joined: Jul 2003
Posts: 6,808
Likes: 24
From: Westport CT
State Farm 60 K agreed value 1k deductible 3000 miles per year all the bells and whistles $140.00 per year. Under their classic policy.
I went thru this same thing on another site so before you start declaring it can't be true, call a good agent that knows about S F classic plan and get a quote. Then with all the money you will save you can send me to dinner.
I went thru this same thing on another site so before you start declaring it can't be true, call a good agent that knows about S F classic plan and get a quote. Then with all the money you will save you can send me to dinner.
I insure my 65 Corvette with Hagerty.
I have an AGREED VALUE of 60,000
My current annual premium is $370 (plus I choose to pay $24 for membership in the "hagerty network")
I have no mileage limitations
Hagerty has an excellent reputation for claims handling in our Corvette Community, which is equally important to me.
[I offer no opinion on State Farm, since I don't insure with them and don't have a copy of thier policy handy to confirm the scope of coverage they offer.]
Le Mans Master
Joined: Apr 2004
Posts: 7,755
Likes: 1
From: eastern Pa
St. Jude Donor '05-'08-'09
don't forget your age and geographical location play into the price also
I am 38 years old, live in Pa. 1966 vert agreed value of 50K . it is 520.00 with my regular carrier nationwide mutual and is 350.00 with haggerty
I am 38 years old, live in Pa. 1966 vert agreed value of 50K . it is 520.00 with my regular carrier nationwide mutual and is 350.00 with haggerty
Le Mans Master
Joined: Sep 2003
Posts: 8,934
Likes: 657
From: Norwalk ohio
2019 Corvette of the Year Winner
St. Jude Donor '15
I had to dump Haggerty this year. The price I got for insuring the '37 Ford was $1500 a year. Found another insurer that was $750 for the '37 (agreed value $90k). Haggerty said it was because of the custom paint job on the car, any damage would require a complete new paint job. Haggerty was competitive on my Corvettes with the new insurer but I moved them all. I have Grundy now. The other Corvettes are my 60 (agreed value $75k), 63SWC (agreed value $50k), 64 coupe (agreed value $40k). The 3 Corvettes cost me about $750 total a year.
They are stored in a locked garage with a monitored alarm system. That was taken into account when the policy was set.
They are stored in a locked garage with a monitored alarm system. That was taken into account when the policy was set.
Last edited by firstgear; Jun 3, 2008 at 05:23 PM.
Instructor
Joined: Jun 2000
Posts: 113
Likes: 2
From: Austin Texas
As an attorney, I sue SafeCo all the time. When I get a case that involves the, I don't even bother sending a settlement request letter, I just file suit, because that is the only way they are going to pay.
They are one of the worst insurance companies out there when it comes to paying claims reasonably and fairly, in my opinion.
I pay $275/year for a 50/100, agreed value policy through American National. They just add it as a second car, with only 2 requirements: no more than 5K miles/year, and keep it in a locked garage.
I've made three claims through them for various things, all of which were my fault, and I've never had an issue with them.
They are one of the worst insurance companies out there when it comes to paying claims reasonably and fairly, in my opinion.
I pay $275/year for a 50/100, agreed value policy through American National. They just add it as a second car, with only 2 requirements: no more than 5K miles/year, and keep it in a locked garage.
I've made three claims through them for various things, all of which were my fault, and I've never had an issue with them.
Le Mans Master
Joined: Apr 2002
Posts: 5,537
Likes: 280
From: Egg Harbor Township NJ
2015 C2 of Year
St. Jude Donor '04-'05-'06-'07-'08-'09-'10, '14-'15
I Use "Grundy World Wide" Insure for 75K Agreed Value No mIlage Limit.
http://www.grundy.com/
There a bit more costly ..but not much.
Only The Best For You
AM Best Ratings
Grundy Worldwide is first and foremost in Collector Vehicle Insurance.
In most states, Grundy's Collector Vehicle Program has been underwritten by the member insurers the A++ rated Chubb Group of Insurance Companies, and now an enhanced insurance product is offered through newly-added, A+ rated Philadelphia Insurance Company.
In Massachusetts, South Carolina and other special circumstances Grundy uses United States Liabilities Insurance. U.S.L.I. benefits from an A++ rating and reputation.
Grundy Worldwide also turns to A++ rated American International Group when insuring items through our Special Client services.
Grundy's carriers claims settlement satisfaction ratings are among the highest in the industry. Trained representatives work hard to achieve a settlement that is swift, equitable, and trouble free.
Grundy
http://www.grundy.com/
There a bit more costly ..but not much.
Only The Best For You
AM Best Ratings
Grundy Worldwide is first and foremost in Collector Vehicle Insurance.
In most states, Grundy's Collector Vehicle Program has been underwritten by the member insurers the A++ rated Chubb Group of Insurance Companies, and now an enhanced insurance product is offered through newly-added, A+ rated Philadelphia Insurance Company.
In Massachusetts, South Carolina and other special circumstances Grundy uses United States Liabilities Insurance. U.S.L.I. benefits from an A++ rating and reputation.
Grundy Worldwide also turns to A++ rated American International Group when insuring items through our Special Client services.
Grundy's carriers claims settlement satisfaction ratings are among the highest in the industry. Trained representatives work hard to achieve a settlement that is swift, equitable, and trouble free.
Grundy
Burning Brakes
Joined: Dec 2006
Posts: 965
Likes: 3
From: St. Charles/Cave Creek IL/AZ
That's what I'm talking about!
My goal in life is to never again own a car that will be emissions tested in Arizona OR Illinois. My '65 Roadster and '67 GTO are insured just like a new car would be: no locked garage, no mileage restrictions.
The '66 Impala SS and '50 Jeepster will join the fleet under the same insurance arrangement.
Le Mans Master
Joined: Feb 2003
Posts: 6,369
Likes: 73
From: The line waiting to see Santa Claus stretched all the way back to Terre Haute, and I was at the end, Indiana
St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15-'16-'17-'18
Safeco Antique Auto Policy
1964 Corvette Convertible
Agreed value = $72,000.00
$500K/$500K Liability
$100K Property damage
Uninsured/underinsured $100K/$500K
Comprehensive Deductable $250 (up to $72K)
Collision Deductible $500
6 month premium= $259.10
I carry high liability values as required by my Umbrella Policy, and I think that just over $500/year is very reasonable.
1964 Corvette Convertible
Agreed value = $72,000.00
$500K/$500K Liability
$100K Property damage
Uninsured/underinsured $100K/$500K
Comprehensive Deductable $250 (up to $72K)
Collision Deductible $500
6 month premium= $259.10
I carry high liability values as required by my Umbrella Policy, and I think that just over $500/year is very reasonable.
Last edited by 99mallett; Jun 3, 2008 at 11:35 PM. Reason: typo
Racer
Joined: Nov 2003
Posts: 336
Likes: 0
From: dayton oh
yeeoow. All crw41 did was state who he insured with, and for how much. here, let me try it again, and see if you get yer panties in a twist [again]:
I insure my 65 Corvette with Hagerty.
I have an AGREED VALUE of 60,000
My current annual premium is $370 (plus I choose to pay $24 for membership in the "hagerty network")
I have no mileage limitations
Hagerty has an excellent reputation for claims handling in our Corvette Community, which is equally important to me.
[I offer no opinion on State Farm, since I don't insure with them and don't have a copy of thier policy handy to confirm the scope of coverage they offer.]
I insure my 65 Corvette with Hagerty.
I have an AGREED VALUE of 60,000
My current annual premium is $370 (plus I choose to pay $24 for membership in the "hagerty network")
I have no mileage limitations
Hagerty has an excellent reputation for claims handling in our Corvette Community, which is equally important to me.
[I offer no opinion on State Farm, since I don't insure with them and don't have a copy of thier policy handy to confirm the scope of coverage they offer.]
No twist here. Since you are the one who wears them that would make you an expert on twisted panties. I was just trying to save you guys some money. You are, however, free to waste your money as you please.
Last edited by 66rag427; Jun 6, 2008 at 10:50 AM.
Le Mans Master
Joined: Jul 2003
Posts: 6,808
Likes: 24
From: Westport CT
while I have been known as a connoisseur of sorts of women's panties and what lies beneath (at least I was until I met my wife - she brought that aspect of my life to a close), I haven't taken to actually WEARING them (not yet, anyway
)