Insurance
Le Mans Master
Joined: Jan 2004
Posts: 9,488
Likes: 1,743
From: Knoxville Tn
I simply use our State Farm policy that I use for my entire household. It may not bee cheapest way to do it, however doing it this way does simplify life a lot. SF gives some discounts for using them for everything, and more discounts for low mileage driving (no actual restriction) although they do send me a survey every few years to see how many miles have accumulated. I see the cost as a tax for owning and driving my Vettes, thus a necessary evil.
Drifting
Joined: Jul 2017
Posts: 1,365
Likes: 471
From: S.E. Pennsylvania
I have my vehicles insured with USAA and I just contacted them about insuring a vehicle for a specified amount. They don't do it, and the problem with insuring the C5 the same as you do your daily drivers is that because of the C5s age, and the fact that it's not considered a collectable or an antique, if you happen to get in an accident with it and it's totaled, the insurance company isn't going to pay jack **** on it. Not only will you lose your Corvette, but you won't get anywhere near enough on your claim to replace it...
Melting Slicks
Joined: Mar 2012
Posts: 2,800
Likes: 456
From: USA
I have my 2001 insured with American Modern Insurance collector car insurance for $208.00 per year with 6000 mile limit and only for pleasure. I have a agreed value of $17000.00 as well. This works well for me and have had the policy for 4 years.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
This is the problem. The C5's are worth very little and one can get a low premium policy but collect near to nothing if totaled or stolen... So one must make a decision whether to use a collector policy with restrictions or a "regular" policy without restrictions but low recovery if totaled.
Racer
Joined: Aug 2004
Posts: 273
Likes: 39
From: SC
I have Hartford for my 2K Vert, full coverage, pleasure, less than 5K miles a year, $645 (SC). Before moving to SC (last year), my NC cost was $445 full coverage. This is with 3 cars & homeowners insurance bundle.
FYI - Hartford is the parent company of Trumbull Insurance Company which is what is on your Insurance card...
FYI - Hartford is the parent company of Trumbull Insurance Company which is what is on your Insurance card...
Last edited by mikeam; Aug 26, 2018 at 08:39 AM.
Burning Brakes
Joined: Jan 2005
Posts: 1,156
Likes: 88
From: Ohio (Go Bucks)
I have been with State Farm for quite a few years for all of my cars and homeowners. I just recently switched both of my Corvettes to NCM Insurance and saved around $335 off the previous annual premium. The mileage restrictions are not a problem for me since I live in Ohio and prefer not to drive the cars in bad weather. The agreed value feature is a real plus when you consider what most insurance companies will pay if your car is totaled. It works for me.
Burning Brakes
Joined: Jun 2017
Posts: 1,045
Likes: 275
From: Wichita Falls Texas
I saved almost half using NCM Insurance. 6000 miles a year for pleasure only with a 20k agreed value on my 2003 vert.
It costs me right at $360 a year.
If I don't use the full 6000 miles a year the left over mileage be added to the following year.
It also includes roadside assistance.
Considering this is just a toy I am happy with the restrictions and price.
It costs me right at $360 a year.
If I don't use the full 6000 miles a year the left over mileage be added to the following year.
It also includes roadside assistance.
Considering this is just a toy I am happy with the restrictions and price.
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Burning Brakes
Joined: May 2016
Posts: 1,024
Likes: 387
From: Port Charlotte Florida
I'm guessing this question has been around before. I just sold my 75 and replaced it with a 04. I had been using Haggerty for my insurance on the c3 and was wondering what most of you guys use on your c5's. After getting the 04 I contacted Haggerty and their quote was double what it had been on the c3 with the same vallue coverage. I then contacted NCM and their quote was considerably cheaper than Haggerty but like Hagerty one is really limited when and where it can be driven. When I had the c3 it didn't bother me about the limitations but with the c5 I would like to drive it more. So the question is what are most of you guys using for insurance. Classic insurance or regular insurance. Regular insurance is just about double for the year what NCM wanted for classic. But I could always go to storage in the winter and save some. Thanks Larry
Heel & Toe
Joined: Jun 2018
Posts: 20
Likes: 3
From: Rochester New York
I am new to the word of Corvette stuff. I have a 2000 coup. I live in upstate New York so the car will only see the road May thru October. I have an agreed value insurance policy based on the amount I payed for the car. I will drive the car almost daily (to work and back and other stuff on the weekends) for these six months, I bought the thing to drive and enjoy, not to look at in my garage! Then it goes into the garage for the the next six months (November to May). Tell me if I have this correct.
From what I have read in the above emails, there is a mileage limit on some policies?
So they check each year to see how far you drove?
Sounds a bit like big brother bull **** watching you to me.
I will check to see if my policy has a mileage limit.
So what if I go over it?
Do I get "fined" like with a lease return with too many miles?
Going to call my agent and see what he says as well.
This could learn some very useful information that was not told to me when I insured this car!
From what I have read in the above emails, there is a mileage limit on some policies?
So they check each year to see how far you drove?
Sounds a bit like big brother bull **** watching you to me.
I will check to see if my policy has a mileage limit.
So what if I go over it?
Do I get "fined" like with a lease return with too many miles?
Going to call my agent and see what he says as well.
This could learn some very useful information that was not told to me when I insured this car!
Melting Slicks
Joined: Jul 2015
Posts: 2,297
Likes: 232
From: Round Rock Texas
I simply use our State Farm policy that I use for my entire household. It may not bee cheapest way to do it, however doing it this way does simplify life a lot. SF gives some discounts for using them for everything, and more discounts for low mileage driving (no actual restriction) although they do send me a survey every few years to see how many miles have accumulated. I see the cost as a tax for owning and driving my Vettes, thus a necessary evil.
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I have Hartford for my 2K Vert, full coverage, pleasure, less than 5K miles a year, $645 (SC). Before moving to SC (last year), my NC cost was $445 full coverage. This is with 3 cars & homeowners insurance bundle.
FYI - Hartford is the parent company of Trumbull Insurance Company which is what is on your Insurance card...
FYI - Hartford is the parent company of Trumbull Insurance Company which is what is on your Insurance card...
Le Mans Master
Joined: Sep 2016
Posts: 6,480
Likes: 555
I am new to the word of Corvette stuff. I have a 2000 coup. I live in upstate New York so the car will only see the road May thru October. I have an agreed value insurance policy based on the amount I payed for the car. I will drive the car almost daily (to work and back and other stuff on the weekends) for these six months, I bought the thing to drive and enjoy, not to look at in my garage! Then it goes into the garage for the the next six months (November to May). Tell me if I have this correct.
From what I have read in the above emails, there is a mileage limit on some policies?
So they check each year to see how far you drove?
Sounds a bit like big brother bull **** watching you to me.
I will check to see if my policy has a mileage limit.
So what if I go over it?
Do I get "fined" like with a lease return with too many miles?
Going to call my agent and see what he says as well.
This could learn some very useful information that was not told to me when I insured this car!
From what I have read in the above emails, there is a mileage limit on some policies?
So they check each year to see how far you drove?
Sounds a bit like big brother bull **** watching you to me.
I will check to see if my policy has a mileage limit.
So what if I go over it?
Do I get "fined" like with a lease return with too many miles?
Going to call my agent and see what he says as well.
This could learn some very useful information that was not told to me when I insured this car!