Regular car insurance for my Vette....??
#1
Racer
Thread Starter
Regular car insurance for my Vette....??
I was curious as to what my Ins. co. would charge me a year for vette insurance. I used my friends 76 L-48 to work up a quote with them. They quoted me a price on comp/coll with all other options equivalent to my everyday cars.
Comp/coll 250/500
NADA for claim value
3 month lay-up
bodily injury 25k/pers 50k/acc
property damage 25k per acc
med exp. 100k
ext. med. bene. 1mil
etc......
$299/year
No mileage limits, drive anywhere anytime.
Does this sound like a good deal to you guys?? I don't think its too bad. Any opinions?
Thanks for looking!
Brian
Comp/coll 250/500
NADA for claim value
3 month lay-up
bodily injury 25k/pers 50k/acc
property damage 25k per acc
med exp. 100k
ext. med. bene. 1mil
etc......
$299/year
No mileage limits, drive anywhere anytime.
Does this sound like a good deal to you guys?? I don't think its too bad. Any opinions?
Thanks for looking!
Brian
#2
Melting Slicks
That is classic car insurance (collectors car insurance)
The limites look a bit low. You crash thru a fence and into someone's yard and thats 25k right there.
Not sure what the "3 month layup" is.
You don't want NADA value!
That means if your car is totalled you get NADA book. Much less than what you bought it for and what you could have sold it for prior to the accident.
You want agreed upon value.
There are a few companies that do that.
Problem here is what you are going to use the car for.
Daily driving you need full insurance not classic insurance. Full insurance will be pricey and again you'll get NADA book value for your car. A rubber bumper vette will be valued less than a chome bumper.
Most classic insurance say "unlimited miles' but can not be used as a daily driver.
I would research much more before signing anything.
I use Haggerty but its not a daily driver and can't be driven to work.
The above is only from my experiences and shopping around. There are more knowledgable members on here that actually do car insurance for a living and can point you in a better direction.
The limites look a bit low. You crash thru a fence and into someone's yard and thats 25k right there.
Not sure what the "3 month layup" is.
You don't want NADA value!
That means if your car is totalled you get NADA book. Much less than what you bought it for and what you could have sold it for prior to the accident.
You want agreed upon value.
There are a few companies that do that.
Problem here is what you are going to use the car for.
Daily driving you need full insurance not classic insurance. Full insurance will be pricey and again you'll get NADA book value for your car. A rubber bumper vette will be valued less than a chome bumper.
Most classic insurance say "unlimited miles' but can not be used as a daily driver.
I would research much more before signing anything.
I use Haggerty but its not a daily driver and can't be driven to work.
The above is only from my experiences and shopping around. There are more knowledgable members on here that actually do car insurance for a living and can point you in a better direction.
#3
Race Director
Member Since: Oct 2000
Location: Kansas City, MO ...I'd like to go fishing and catch a fishstick. That'd be convenient. - Mitch Hedberg
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I added my Corvette to my policy as a third car for $360 a year with the same coverage as the first two.
I asked about agreed value policies and was told by Farmer's that the only requirement was that I have it appraised first. Never have had that done.
I asked about agreed value policies and was told by Farmer's that the only requirement was that I have it appraised first. Never have had that done.
#5
Melting Slicks
So you could drive your car to work every day during the summer if you wanted to?
#6
Race Director
Member Since: Oct 2000
Location: Kansas City, MO ...I'd like to go fishing and catch a fishstick. That'd be convenient. - Mitch Hedberg
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Right now, yes. I can't remember if there were limitations to the agreed value policy. I want to say that maybe work was off limits and that's why I never followed through, but I can't remember. It was a conversation I had 3 years ago.
#7
Burning Brakes
My personal opinion, if your classic car is not insured for an agreed value then you are taking a huge risk.
It of course is not an issue until you have to try to settle with your insurance company, and then its too late.
It of course is not an issue until you have to try to settle with your insurance company, and then its too late.
#8
Team Owner
Exactly!!!