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Everyone's insurance quotes/premiums are going to be different and based on a lot of different factors including but not limited to; age, marital status, coverage amounts, limits, discounts, bundles, the city and county you live in and work, driving record and even your credit score.
When comparing premiums here on the forum, we will never be doing it apples to apples. My 6 month full use coverage for my '99 FRC with no driving limitations is only $190. I have State Farm and insure the house, life and three autos as well as a liability umbrella policy with them. The wife and I are both +50 years old, have clean driving records and excellent credit scores. As always YMMV.
Your post is effectively what I was going to say. Anytime I see a post about insurance on a C5 it's people trying to compare apples to apples when effectively every policy is apples to oranges to lemons.
Another great point that I follow also is have all my assets under an umbrella. While umbrellas are different like any insurance they're usually really fantastic because not only do they realistically take into account usage of your assets in regards to one another but you also receive some great discounts that are similar regardless of what state you're in. Full coverage on my C5's portion of the umbrella is actually less paid once for six months than some cars I've owned with just liability paid monthly. I was shocked beyond belief. And there are NO limitations on driving. The kicker though of course is you have to be able to make that umbrella payment every six months. I'd argue though if you can't make that payment then you shouldn't own something like a Corvette...
Why anyone would want a limiting policy on their Corvette though is beyond me. I want to drive it in the middle of summer or the middle of winter. Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday. To the store. To a cruise-in. Whatever. I don't want some policy telling me I can only drive it a few days of the week specifically for "pleasure" - whatever that may be.
Your example was given to me by the Gxxxx agent. Coming from a car show going somewhere on the way home would be covered but not going there from home.
What's comical is that their is another thread posted today about insurance companies today with restricted driving RULES.
Anybody have a guaranteed value and they're allowed to drive their cars when and where they want too?
I don't understand the reasoning behind some of the restrictions. I get having an annual mileage limit, as fewer miles driven equates to less chance of having an accident. But why they don't allow us to drive the vehicle to work or to the store, that part of it makes no sense to me. How is driving the vehicle to work more risky than driving it to a car show?
This is what happens when you shop for the best price for insurance on a Vette. I have mine insured just like my other cars, and can drive it anywhere at any time. I do get a small discount because it is garaged when not being used, but I get the same discount on my Impala. I also get a discount because I don't drive my cars to work every day, been retired for 4 years. The Impala cost more to insure, because it's worth a lot more money.
If one's primary goal is finding the lowest premium, one tends to get lousy coverage. The trick is to find a company that will insure for an agreed value, with the least amount of restrictions, the highest mileage allowances, and the lowest premiums. There's no such thing as a free lunch in life, and insurance is no different. It just takes some time shopping around, but in the long run it will pay off...
Last edited by grampi50; Nov 25, 2017 at 11:22 AM.
So, if you get in an accident that IS your fault or with another person without insurance YOU'RE OUT. Glad you can afford that. The collision part of my policy doesn't cost that much more. The uninsured or under insured part of your policy doesn't cover your car, just medical.
Yeah, for my car I accept that if I'm at fault - makes me a careful driver . However if another without insurance is at fault, the uninsured covers my car except for the deductible, and they'll go after the other party to recover that - my daughter was in that same situation a few years back when she was rear-ended and it took a couple years to recover the deductible from the other party but they made her whole. I suspect the laws on this vary from state to state.
I only get to use the car about 7 months of the year, to save a couple hundred bucks and not be able to drive it when and where I want doesn't make sense.
My wife and I are old and retired. I fully insure my 03 Vert along with my 14 Silverado and her 17 Hyundai. All three cost me around $140 per month. We've been using Geico for several years now.
I don't want any limits as to where and when I can drive our toy.
Here in North Texas we can drive all year long. I won't get out in snow or ice though.
I only get to use the car about 7 months of the year, to save a couple hundred bucks and not be able to drive it when and where I want doesn't make sense.
That's another restriction I don't want...how many months I can drive a year. What if there's a 50 degree sunny day in December with no salt on the roads?
Last edited by grampi50; Nov 25, 2017 at 05:35 PM.
My wife and I are old and retired. I fully insure my 03 Vert along with my 14 Silverado and her 17 Hyundai. All three cost me around $140 per month. We've been using Geico for several years now.
I don't want any limits as to where and when I can drive our toy.
Here in North Texas we can drive all year long. I won't get out in snow or ice though.
I'll probably just end up with my normal insurance, USAA. These specialty places have too many restrictions...
Been a State Farm customer for 25 years. Tried Hagerty and a few other 'collector car' insurance companies and found State Farm to be the lowest premium for me. That being said, somebody else's rates with SF could be horrendous. Other SF poster said no restrictions and that's right, although I believe there is a restriction on racing. The other thing I do is not put collision coverage on the cars, however I do carry comprehensive - SF is one of the companies that will allow this. I figure if I cause the accident then the damage to my car is on me, otherwise I'm covered for everything else.
Agree somewhat with the other poster who feels insurance is a scam. Of course you have a claim that an insurance company will pay, then you're glad you have it. When I add up all my insurance premiums for the year (cars, homes, other buildings, health), the figure is staggering enough to make me question the value of the product.
Since I've been insuring cars for over half a century I would tend agree but think I found a way to get some reimbursement. Had hail damage to our Arizon home 4 years ago - our insurer paid over $11,000 for that. Even better (in some obscure sense of the term), our head-on collision last year when we were hit by a guy doing about 100mph running from the cops cost our insurer over $600,000!! Think we've pretty much recouped our premiums.
Since I've been insuring cars for over half a century I would tend agree but think I found a way to get some reimbursement. Had hail damage to our Arizon home 4 years ago - our insurer paid over $11,000 for that. Even better (in some obscure sense of the term), our head-on collision last year when we were hit by a guy doing about 100mph running from the cops cost our insurer over $600,000!! Think we've pretty much recouped our premiums.
You have definitely had more than your fair share of expensive bad breaks, but that's what it takes to get any value from your insurance. Most of us go through our lives paying premiums and getting less than a 1% return on our investment...
Last edited by grampi50; Nov 25, 2017 at 05:54 PM.
Grundy wants you to enjoy your car, not keep track of mileage like some programs with limitations. Therefore, we give you unlimited miles for pleasure driving and in collector car-oriented activities. It is even OK if occasionally you drive your collector car to work to show it off to friends. However, your collector car must not be used as a daily driver. We require you and all licensed drivers in your household to have a modern car for everyday use.
When you have your car at home, it must be kept in an enclosed, secure garage when not in use. If you are away from home on extended outings your car is fully protected if you must park it outside, for example in a hotel parking lot. Grundy coverage includes Trip Interruption that reimburses you for hotel and repair costs in the event of a breakdown, and we also reimburse you for towing and labor charges up to $250. You can count on Grundy as you cruise.
Here's what the actual policy says
Originally Posted by Actual Policy
It is agreed and understood that the following definition is added to the policy:
“Collector vehicle” means a private passenger auto or motorcycle that:
1. Is maintained solely for use in exhibitions, parades, club activities, or other functions of public
interest.
2. Is not used for regular driving to work, school, errands, shopping, general transportation,
secondary or back-up transportation, business or commercial purposes, except for limited
pleasure use.
Seems like the website site says in more plain terms what i understand the policy to be. And the policy doesn't contradict it.
So, basically it's not for regular errands/shopping/commuting - but occasional pleasure use is ok, even in those areas (this is how i read it) -- basically - you shouldn't go to home depot every time in your collector vehicle, but occasionally it's fine.
To me, running errands in my "collector" vehicle is pleasure driving.
My Corvette is my Daily Driver (now split with a G8 I just picked up). I have standard insurance on that.... and I have Grundy for my 2002 Camaro SS (Garage Queen) and my Inherited 1986 C10 Silverado.
My 03 Chevy truck and 03 Vette Coupe are just about the same with State Farm down here in South Louisiana. Right at 500 bucks , full coverage, 500 deductible, for 6 months. Truck had 7500 mile limit per year but the Vette none.
Last Summer when the wife attempted to back a utility trailer with my truck and smashed in the right rear of the bed plus, that was about 3500 bucks to repair. No problems with getting the work done.
Seems like the website site says in more plain terms what i understand the policy to be. And the policy doesn't contradict it.
So, basically it's not for regular errands/shopping/commuting - but occasional pleasure use is ok, even in those areas (this is how i read it) -- basically - you shouldn't go to home depot every time in your collector vehicle, but occasionally it's fine.
To me, running errands in my "collector" vehicle is pleasure driving.
I hope your claim adjuster feels the same way about your pleasure driving / errand definition. For that reason, I will not go with this insurance company. Not worth the risk. All my luck I'd get an adjuster driving a Kia with an attitude.
think our insurance figures out to be , roughly , $1.50 per mile on a yearly basis . this is NOT a joke . . . peace
That sounds outrageous. I'm getting screwed on insurance too. Over $100 a month for full coverage with a high deductible. But I've checked around and it's the cheapest quote I've gotten. My area has high insurance costs. Just for a reference point, before I bought this corvette I got quotes on a new Honda civic. $300 a month ! There are a ton of auto thieves, insurance fraudsters, and uninsured motorists that drive up costs.
Last edited by Corvette#2; Nov 26, 2017 at 02:45 PM.
From: Gilbert, Arizona Currently Own: 1998 Coupe YouTube: My Corvette Life
I pay $440 per year through NCM for the 6000 mile a year policy. I only drive in on weekends mostly. Yes, they won't cover you for damage in a Home Depot parking lot, but I take the risk. I have State Farm for all of my other cars, and they wanted about 4x what I'm paying through NCM.
Last edited by Chris Draper; Nov 27, 2017 at 05:59 PM.
I do not know what you are looking to pay but I pay $237.57 for 6 months or $475.14 a year on my Vette with Geico and that is High liability limits and low deductibles. All three are listed as commuter vehicles and all get driven about the same amount. I drive the truck the most and the wife drives the Equinox the most but each of us drives the Vette to work 1-2 times a week and when we want to go out. There is no way I would go with a restrictive policy to save $100 a year. And to prove I for one am not a liar, here is my cars and coverage's:
. However if another without insurance is at fault, the uninsured covers my car except for the deductible, and they'll go after the other party to recover that - my daughter was in that same situation a few years back when she was rear-ended and it took a couple years to recover the deductible from the other party but they made her whole. I suspect the laws on this vary from state to state. 
This^
