Insurance (comprehensive) question
Thread Starter
Burning Brakes
Joined: Feb 2002
Posts: 871
Likes: 1
From: Union KY
Insurance (comprehensive) question
I own a 96 CE and a '04 Z06. Both are listed as daily drivers in my insurance package. In looking at my coverage cost breakdown this weekend, I noticed that the comprehensive coverage (not collision) on the '04 was just $100 per year, while the CE was $240! Collision coverage cost was essentially identical for both.
When I asked my agent to explain the apparent mistake, she said it was because the '96 CE was actually listed as a higher risk (theft, vandalism?) car than the '04 Z06 by the carrier!
Anybody else seen such silliness in thier coverage?
Cire
When I asked my agent to explain the apparent mistake, she said it was because the '96 CE was actually listed as a higher risk (theft, vandalism?) car than the '04 Z06 by the carrier!
Anybody else seen such silliness in thier coverage?
Cire
Race Director
Joined: Oct 2005
Posts: 11,772
Likes: 177
From: Rolla Missouri
2021 C4 of the Year - Unmodified Finalist
St. Jude Donor '10 thru '25
It is entirely possible that "your company" has data that backes up the reason for higher rates on the '96 in your area.
This is a case of it does not matter that you have never had an accident or filed any type of claim at all. But perhaps the overall claim history of the '96 in your area reflects otherwise.
That does not mean that nationwide the '96 is a higher risk.
More than likely you only have two options here though.
Accept the rates they are charging you, or move to a different insurance company.
Burning Brakes
Joined: Apr 2009
Posts: 877
Likes: 0
From: Broken Arrow Oklahoma
Or you can do what I did, I don't drive my car all that much, so I went to American modern home insurance. They insure classic cars. There are mileage choices. My son has a 2005 Vette and his insurance is about $400.00 per year at 5000 miles per year. My 90 is about half of that. I have used this company since the early 90's.
Team Owner
Joined: Jan 2009
Posts: 73,568
Likes: 33
From: Somewhere in Mo
St. Jude Donor '09-'10, '14
CE, there's your answer. My guess, they're blowing smoke but the CE has most likely been high costs since it was new and it hasn't been updated. BUt they will justify it by two little letters, those letters being
CE
CE
