Corvette Insurance

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Oct 7, 2009 | 11:05 AM

jayshe9999

Thread Starter

6th Gear

Joined: Sep 2009

Posts: 6

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From: NJ

Corvette Insurance

Is anyone using Classic Auto Insurance from Indianapolis for their corvette?
Any comments would be helpful.

Oct 7, 2009 | 02:06 PM

jcoats

Heel & Toe

Joined: Sep 2009

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I'm not using that company. I'm using Farm Bureau in Indy, if you classify your car as an antique then FB will insure it for almost nothing. I'm paying $124 per year.

Oct 7, 2009 | 03:38 PM

chazcax

Advanced

Joined: Apr 2009

Posts: 50

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From: Tatum Texas

Quote:

Originally Posted by jcoats

I'm not using that company. I'm using Farm Bureau in Indy, if you classify your car as an antique then FB will insure it for almost nothing. I'm paying $124 per year.

What kind of coverage is that? More info Please?

Oct 7, 2009 | 04:54 PM

7T1vette

Team Owner

Joined: Jan 2006

Posts: 37,637

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From: Crossville TN

If it's a Farm Bureau policy, you likely don't have an "Agreed Value" policy. You probably have a "Stated Value" policy which will only pay Black Book (average wholesale) money if you total the car. If that's the case, then your car will be totalled if you have even minor damage...and when they pay that paltry amount, the insurance company owns your car and they will fix it and resell it for a tidy profit. Not a good situation. "Agreed Value" will pay what you and the insurer agree is the actual worth of your car. Lots of folks have been 'burned' by this issue by keeping their C3 insured on their regular policy.

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