Classic Insurance
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
I have collector car insurance on my two old Corvettes and am very limited on how I can use the cars(thus the very low premiums). I can't see the reasoning of that kind of insurance on a new Corvette.
The premiums on my C6 Z06 is ~$52 monthly with zero limitations on how, when or where I can drive the car(other than zero coverage when on a race track).
The premiums on my C6 Z06 is ~$52 monthly with zero limitations on how, when or where I can drive the car(other than zero coverage when on a race track).
Last edited by JoesC5; Sep 19, 2014 at 05:10 PM.
Safety Car
Joined: May 2003
Posts: 3,814
Likes: 105
From: Dearborn Heights Michigan
you can PM me if you don't want to post it.
I have a quote of $1370 from the Corvette Museum underwriter.
Le Mans Master
Joined: Apr 2001
Posts: 5,476
Likes: 718
From: Black Forest CO
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
Top 10 Most Expensive Corvettes Ever Sold on Bring A Trailer
Brett Foote
10 Things Every Corvette Owner Needs (2026 Edition)
Michael S. Palmer
8 Most "Only Corvette Owners Understand" Quirks and Problems
Pouria Savadkouei
10 Reasons the C6 Z06 is Still A Performance Benchmark After 20 Years
Joe Kucinski
How Much Horsepower Every Corvette Engine "LOST" in 1972
Joe Kucinski
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!
Michael S. Palmer
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!
Joe Kucinski
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter
Joe Kucinski
8 Coolest Corvette Pace Cars (and Replicas) of All Time
Verdad Gallardo
Pro
Joined: Jun 2013
Posts: 515
Likes: 34
From: Hackensack new jersey
classic insurance
i bought my C7 to drive. actually added additional coverage for no insurance, under insured coverage. most get the minimum coverage. if i get hit by an under insured or no insurance driver my no fault will kick in but my threshold to sue the other driver is limited. with the additional coverage if i'm seriously injured i'm covered up to 500,000. same for my motorcycle coverage. this is not a classic/collector car. i'm not trying to save on my insurance.
Burning Brakes
Joined: Aug 2007
Posts: 799
Likes: 21
From: Rock Hill SC
Shop around. I found the quote from the NCM to be much much higher than others. I guess you could consider it a donation to the museum...
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
i bought my C7 to drive. actually added additional coverage for no insurance, under insured coverage. most get the minimum coverage. if i get hit by an under insured or no insurance driver my no fault will kick in but my threshold to sue the other driver is limited. with the additional coverage if i'm seriously injured i'm covered up to 500,000. same for my motorcycle coverage. this is not a classic/collector car. i'm not trying to save on my insurance.
My Z06 has the identical coverage as my Mercedes sedan. My 56 and 64 Corvettes have collector car insurance and I'm okay with the restrictions placed upon their use.
Melting Slicks
Joined: Sep 2013
Posts: 2,299
Likes: 466
From: Long Island New York
If you are driving a car more than 5,000 miles a year, it isn't a collector car!
Collector car insurance is much cheaper because they expect the car will be garaged 100% of the time when not in use, will be used only in good weather and not very often - it also needs to be an extra car.
I have been using it on my Corvette's for many years - it is 40% cheaper than Geico would be for the same coverage.
On my C6, over 7 years I averaged 1,800 miles per year, with my biggest year being about 2,700 miles and my lowest use year at about 800 miles; on my C7 this year I will probably end up with 1,900 miles - well within the 3,000 mi. use limit.
Collector car insurance is much cheaper because they expect the car will be garaged 100% of the time when not in use, will be used only in good weather and not very often - it also needs to be an extra car.
I have been using it on my Corvette's for many years - it is 40% cheaper than Geico would be for the same coverage.
On my C6, over 7 years I averaged 1,800 miles per year, with my biggest year being about 2,700 miles and my lowest use year at about 800 miles; on my C7 this year I will probably end up with 1,900 miles - well within the 3,000 mi. use limit.
Thread Starter
Safety Car
Joined: May 2002
Posts: 4,010
Likes: 26
From: Somewhere nowhere
Every collector company is different, with different limitations. Grundy seems to be very flexible. With the agreed value, If a total happens, your paid more than geico or allstate.
Burning Brakes
Joined: Jul 2004
Posts: 1,205
Likes: 85
From: Winfield, IL
One of the benefits of being 50+ is your insurance rates go way down. I pay State Farm $250 for 6 months of coverage on my C6 and the only caveat is I keep the mileage under 7500 miles a year. I don't expect my C7 to be that much more.
Instructor
Joined: Jun 2014
Posts: 219
Likes: 1
From: Pittsburgh PA
I am 35 years old and my '15 Z51 is our third car. I was just quoted $635 from Allied(Nationwide) and I have underinsured, uninsured, full tort (PA), no deductible glass breakage, $500,000 limit, $500 deductible comp. I also took out a $1 million dollar umbrella policy for $164 per year which covers auto and home. The reason you have insurance is so that they dont take your assets in the event that something bad happens. I want to save money but I dont want to be insufficiently covered.