i_york

I moved to NYC from the UK in December and had to sell my Sebring Silver '99 Coupe with bolt-ons I've been lusting after my next C5 ever since, but owning a C5 in Manhattan isn't really practical (lousy roads + no garage to keep it in). However, thought I'd get a few insurance quotes just to see how much it would cost to run a C5 here... couldn't believe the rates I was quoted! Geico quoted something like $4,000 per year! Back in the UK, I was paying $1k fully comprehensive with a $900 deductible. What gives? I realise that NYC is one of the more expensive places to insure a car, but 4-grand a year is ridiculous. I'm a 30-year-old professional, by the way, not an 18 year-old kid.

Are there any tips/tricks to reduce your insurance premium? I've heard that registering the car in another state is one(?) Are there any specialist insurers over here that specialise in insuring high-performance cars and, consequently, give better rates? What about limited mileage policies? In the UK, I could specify that I drive no more than 5k miles per year and get a reduced premium as a result.

Cheers,
Ian.

C5Jim

I'm sorry to say that you have met up with the cost of living in NYC.
Finding a monthly space in a garage will cost you the equivalent of a months rent elsewhere. It's ridiculus.

May I suggest you make friends with someone from outside of the city and register it with them.

When I moved from NYC 10 years ago, my insurance fell by 2/3.

army2000

What ever you do, don't go to NJ. It's even higher.

i_york

What affect would this have on my premium? Wouldn't the insurance company be more concerned with where the car was being actually driven and where it would be parked at night rather than where it was registered? Also, do you have to declare modifications to the insurance company? Does modifying the car for increased performance affect the premium? In the UK, every mod has to be declared and assessed by the insurance underwriters.

Cheers,
Ian.

i_york

Yea, so I hear... if I ever move, the cost of car insurance will be a serious factor in deciding on which state to move to!

Cheers,
Ian.

JACKAL0PE

The life expectency of a Corvette parked in Manhatten is something like twelve minutes; no joke.

army2000

I agree. I drove my Vette to the NYC International Car Show a few weeks ago. I parked it in an underground parking garage with armed guards watching it for 4 hours. Cost me $40+tips but it was worth it.

JACKAL0PE

No, no. You misunderstand.

I wasn't making a joke. I read an insurance study a couple of years ago and that's what it REALLY said.

Freestyler

Alo Gov,

falling by 2/3rd def sounds possible..

moved here from london last year also, insurance was 400/month , when i relocated across the street and technically out of the city limit, it went to 250 , then i went to State Farm - 150/m

also, get your state licence if you dont have it already, there is a king hit there...

welcome over cobber,

Tsab

Check out Grundy. They have a collectable policy which I have. My cost per year w/ unlimited mileage $700.00 for full coverage unlimited mileage 2 cars....2001 coupe and 1988 Tbird Turbo. The only catch is that I can't drive it to the Food Store or to work.

Humanoid 2.0

First, registering the car in an other state is illegal, people do it but it don't make it right. Second, since you are a "new" driver here in the US you may be automatically put in a high risk category. My Vette cost no where near that to insure, and I am right across the Hudson with just about the highest rates in the nation.