I agree that full coverage is the way to go, however here is my issue. If you have full coverage, you get hit, the insurance company opts to total out your car rather than repair it, full coverage has not helped you, as you cannot or probably will not get enough money to replace the vehicle....

I am talking about an accident that may do some cosmetic damage but the mechanicals are okay, yet its enough damage that the repair exceeds the value of the car... most people would be up a creek I would think....

 

its not a money thing but why spend $1500 a year then if you reck it the insurance company wants to give you 8,000 (if your luckey)+ raise your rates on the cars you need full coverage on.there is another post on this board that says c4's are worthless! well as far as the insur co is concerened the car is worthless! in todays market you might as well have full coverage on a 1980 escort they will payout about the same!!!

 

my car has over 216k miles on the clock, if the accident is serious i.e. hood damage and/or quarter panels, I don't doubt that the insurance company will total it out rather than repair.... I also know that they will not be giving me 8k for my car.... so then has full coverage insurance benefited me? Seems like I have come up short.... that is the point I am making...

 

I see your from Mich. as well, no wonder we agree. NO FAULT Insurance blows. I would rather keep the money in my bank account then giving to those over priced insurance companies.

 

[QUOTE=85 500 horse;1564075205]In my opinion, only carrying liability is asinine unless it's a money thing. If you can't afford the comprehensive, fire/theft ins., etc., then you probably shouldn't be driving a Corvette.
[QUOTE]

So what you are saying is that only people with excess money to throw away should be driving Corvettes? I see you have one very nice Corvette. Congrats. But guess what, I have two very nice Corvettes in my garage due to the money I saved on insurance. Please don't pigeonhole Corvette owners. We all come from different walks of life and do whatever we have to do or due without to afford the car we love.

 

How could you avoid being T-Boned at an intersection when a drunk driver barrelling through it at 70 miles an hour just ran the red light?

 

The difference for me was $2400/year for full coverage vs. $300 year for liability. For a car I only drive on the weekends when it's nice out I can't see paying 1/3 of what I bought the car for a year for insurance!

 

[QUOTE=Stang-etr96;1564078968][QUOTE=85 500 horse;1564075205]In my opinion, only carrying liability is asinine unless it's a money thing. If you can't afford the comprehensive, fire/theft ins., etc., then you probably shouldn't be driving a Corvette.
You misunderstood my point. The point that I was trying to make is that many people live outside their means and that is not intelligent. If you can't afford to maintain full coverage on your car, then you shouldn't own and/or drive that particular car.

Look what's occurring in this country at the present. Millions of people are losing (some already lost) their homes because they were stupid. They purchased homes far outside their means and now want the banks to bail them out. Boo hoo. No one told those buyers to purchase homes whose mortgage rates were destined to triple because they foolishly signed that piece of paper allowing the banks to triple the interest rate. Because people were dumb and never took into account that the interest rate could sky-rocket, does not absolve them from making the new increased payments. I am paying more for my mortgage (in the beginning) because I chose to pay for a fixed mortgage. The people who were stupid and took the risk now all want to get a free ride? Ridiculous. I feel for them but it was they who took that risk. No one forced them to sign that mortgage paper.

It's the same with a Corvette. If you can't afford the insurance on one, you shouldn't be driving it. You're taking a huge risk by not fully insuring your car, especially if it's a Corvette. There are many insurance companies who offer classic coverage, including full coverage, for a greatly discounted rate. If you cannot afford this "cheap" rate, you have no business driving a Corvette, knowing it can cost you a lot of money to repair if you're ever in an accident and don't have the proper insurance. That's the analogy I was trying to make, between the Corvette and the homes as mentioned above.

Thanks for the compliment on my car.

 

wow you totaly missed my point!!!!this is my 4th vette this car is only worth 12k big deal!! if i get hit i either fix it or sell her for parts its only 12k not a big loss just haveing full coverage on it would cost that much in a couple of years so why **** your money away on something that has almost no value??????

 

Wow, that didn't sound elitist at all.

So because I don't spend 1/3 of the purchase price a year on insurance I have no business driving my car? Yeaaaah..

 

!!!!i know!!!!!!--whats up with the housing comparison ??????
also just called haggerty and WOW what a great price

 

One third of the purchase price a year on insurance? If that's what you're paying, you're with the wrong company. If you can't afford full coverage, then you probably don't have much coverage. If you don't have much coverage, then that new expensive car you plow into is screwed (for example). Frankly, I don't see how a few hundred a year for full coverage equals 1/3 the purchase price of a Corvette. I think your math leaves a little to be desired.

 

Did you actually read my post? $2400 / year for full coverage, $300/yr for liability. I just bought my 94 for $7500 (yes, it was a killer deal but still)..

That is with Progressive - which was the cheapest of the 4 companies I checked. No, I don't have a spotless record.

Now tell me again how I don't deserve to drive my car because I don't spend 1/3 the purchase price of it on insurance?

 

85 500 Horse it riight...and what if you clobber someone hard and they have some real medical bills? Guess who they come after if your insurance doesnt have high enough limits? What if you take out an 80k Benz and your ins. only pays out 15k? youre f'd.

These days is does NOT pay to cheap out on insurance. Believe me I wish I could, pay close to $350 a month to insure mine, 2 of them hardly get driven but accidents happen because they are just that....Accidents. Cant avoid them all. C.Y.A.

 

I'm confused.. how does "liability" vs. "full coverage" have anything to do with paying out if you hit somebody? The liability limits for the two policies that I quoted are the same - and well above the mandated minimums.

His contention was that if you don't pay for full coverage insurance then you don't deserve to drive a Corvette. My response was that even though I could easily afford it it doesn't make any sense to pay 1/3 the purchase price per year for full coverage insurance on a car which only gets driven on weekends when it's nice out.

Do you guys work for insurance companies and you're upset that I'm not paying for your bonus check this year?

 

I have a 85. I carry liability through Farmers for $58 every 6 months. An insurance co. wouldn't pay anything for it either if I had full coverage. Since I have 2 teenagers, 4 cars, 1 boat, and a motorhome, my insurance bill would be a lot if I had full coverage on everything.

 

I currently have 100k/300k for my insurance coverages, but am going to up it this summer; Hagerty won't write coverage higher than what you have on your daily drivers, so the other 5 vehicles have to have coverage upped first. When I do, Hagerty will allow me to up.

When I had my 73 Triumph GT6 insured with them I just got the coverage for it. I didn't notice it was 10k/30k for the liability and after I realized that I s*** a brick. A 10mph crash could have resulted in a lien on the house! On the Corvette it was $29 more a year to go from 10k/30k to 100k/300k. They said it should be very reasonable to go up in coverage again.

 

Let's not make stuff up okay? I NEVER said, "if you don't pay for full coverage insurance then you don't deserve to drive a Corvette." Go look at my posts and you'll see that what you said was never said by me. So please stop lying to try to make yourself look better.

Anyway, I did say that if you cannot afford to pay for full coverage, then you shouldn't be driving a Corvette. Those two are complete different statements. And it's true. If you can't afford a few hundred a year for insurance, how in the world are you going to pay to have that Corvette fuel pump or Corvette head gasket repaired? Because we all know that repair shops add that "Corvette tax" onto the repair bill. If you can't afford a few hundred for full coverage, then like I said, you are probably going to skimp out on insurance and that screws the guy you just creamed in the rear.

Let's just leave it at that. You have your point as do I.

 

I fail to see how "if you don't pay for full coverage insurance then you don't deserve to drive a Corvette" is any different from "if you cannot afford to pay for full coverage, then you shouldn't be driving a Corvette" - both of them sound quite elitist.

And as I've said several times the difference isn't "a few hundred dollars", the difference for me is $2400/yr versus $300/yr. For a part-time weekend driver does it really make sense to pay 1/3 the purchase price per year for insurance? I can afford either one, but for my usage full coverage doesn't make sense. It's a calculated risk that I'm willing to take.

And to say that I probably don't have enough liability coverage because I don't have full coverage is just dumb.

 

I can't help it if you cannot comprehend what I am trying to impart. I don't know where you're going for insurance, but 99.9% of Forum members are paying a few hundred a year for insurance. If you want to pay $2,400 a year when you could be paying a few hundred, knock yourself out. If you take the time to do a little research, you'll find there are many companies that will insure your car for a few hundred a year, for full coverage. But if you'd rather pay $2,400, go for it.

Also, if you cannot discern the difference between the two aforementioned statements, then nobody can explain it to you. Maybe Wikipedia can explain the difference between "don't deserve" and "cannot afford."