Just curious what kind of coverages you guys are getting on your C7's.

I'm looking at:

$300/500K Bodily Inj Liab
$100K Property Dam Lia
Pers Inj. $10K

$100 Comp ded
$250 Coll ded

$736 per year USAA

 

that seems pretty inexpensive for those deductible amounts - do you get a discount on the C7 for other insurance coverage with USAA (like homeowners or multi-car)?

 

I would up the Bodily Inj to min of 500/500.. With medical cost's today it's well worth the $50 more a year if that to be covered. All it takes is 1 person badly injured to eat that 300K up.

I believe it was about $140 more a year to up mine to 750/750K. Can't remember but I do know I won't be making a thread like the other guy who rented and wrecked a Corvette.

 

I'd also think about bumping up your Property damage from 100k.

You hit a high end car and you're done..

 

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$300K/$500k BI/L
$100K Prop Dam Liab
$25K Pers Injury
$1000 ded collision*
$100 ded comp

Pemco Qualified Teachers Plan
Annual Premium: $540

*this is the big cost-cutter

 

As a Retired Insurance Agent I care the following coverage:

$250 ded comp
$500 ded coll
500/500 Bodily injury
100,000 Property damage
$5,000 Med Pay
500/500/100 UMC
500/500/100 under insured UMC
Rental at $50/day for 30 days
and Towing and Labor.
Approx cost for C7 in South Carolina is $800/year.
Also have a $1,000,000 umbrella for 2 cars and a house for about $150 per year.

 

Thanks a bunch.

South Carolina insurance rates look very good compared to SW Florida. I asked our agent why car insurance is so high. Has to do with all the Mr. Magoos we have down here.

In Florida we were mandated to take Uninsured Motorist. That has since changed. Since being retired Military, medical for myself and spouse is pretty much covered whether other driver has or has no insurance. I just looked again and see I did choose $10/$20K for $60 a year.

Figured I could save that UMC premium and lower the Collision and Comp deductibles. Getting backed into a parking lot or damage done by road debris or vandalism makes having a lower deductible more appealing.

Dropping from $250 -$500 to $250 - $100 deductibles was $24 more per year.

Doesn't GM Offer Roadside free for 5 years? After 5 years definitely would grab the roadside.

I really need to get an umbrella policy. I keep putting it off and it's sooooo cheap to buy.

Just curious wouldn't the $1,000,000 stack with the $300/$500K liability?

Got quotes from USAA and Hartford. USAA was a few bucks cheaper. Neither quote included multiple car or other discounts. Just over being 50 years old with clean driving record.

BTW indicated 5K miles per year with the C7 as a pleasure vehicle w/ USAA.

Hartford was $790 w/ no mileage limits.

 

Be Careful on your limits.. Saving money on an insurance policy is OK but be prepared to have enough to cover your *** ets. Big time settlements are no that rare.

 

Sage advice for sure.

I will call insurance home owners policy agent today for an umbrella rider. (Corvette or not). I kept putting to off. We live in a extremely litigious society w/ plenty of attorneys looking for a quick buck.

 

I got quotes from USAA among others and was surprized how high they were. Basically SW Florida is higher I'm told because Florida has the highest insurance fraud rate in the US and that's not counting the Mr. Magoos.

 

Speaking from a Canadian perspective where most health care is completely covered.
I do medical-legal assessments for a living...
If you're on the hook for income loss it will add up very quickly.
If there is a hint of a brain injury care costs go through the roof....
Insurance companies will settle for policy limits if they are low enough leaving you responsible for all other costs...bye bye cars, toys recreational property, savings. Hello garnished paychecks.
I carry the highest personal liability coverage they have...

 

Yes, South Florida is way high on insurance.
I have Grundy which is not even standard insurance and is 961 a year.
If I would have gone with any of the regular insurance carriers it would have been 1440 per year.
You folks in other states have it good. I have a clean record for over 30 years.

 

Well up in buffalo for the first 6 months of owning my 2014 i paid the same as all my other muscle cars. around $680

Soon as sept. came my renewal came up and it jumped up to $1100 , they said insurance for the 2014 vette went up across the country.

 

Apparently I was getting raped by GEICO for $2400/yr. Just got a quote from USAA for $870/yr. See ya GEICO!

 

100/300, 250 deductible, garaged, no milage limit, not a daily driver in Sebring Fl, 650.00 a year. State Farm.

 

A lot has to do with the following (more so than if the car is a Corvette or not):

How much coverage you require
Whether you lease or own your own residence
Whether or not your married
Birth date
Tickets along with driving incidents you've had
Current credit rating
The city you live in
Specific group memberships

Owning a home, being married, being over 55 years old, zero tickets or accidents, 750-800+ credit score, living in smaller town or community and also having access to USAA and AARP (if you over 50) can provide some decent group rate discounts compared to other companies.

I'd be shopping for a new company if it were me. Something doesn't sound right about that kind of premium increase. Maybe the company owner's kid needs braces.

 

Is your quote per year? All my USAA auto policies are for 6 months, though that may vary by state. Our C7 is a little over $700 for 6 months, but with 1 mil liability. Mississippi is notorious for high jury awards.

 

Most Umbrella policies have a deductible of $300,000 or $500, 000. That is why you carry
higher Bi and PD limits.
It is also important to remember that the UMC coverage is to provide you coverage for
bodily injury and property damage to yourself and your vehicle in the event that the at fault party does not have insurance.
Example: You are hit by a vehicle that runs a red light Your car is a total loss and you
spend 2 weeks in hospital and 3 months in rehab, your insurance company will only pay for
the loss of the vehicle under collision and what ever you policy limits are for medical payments.

UMC underinsured coverage provides the same coverage as above, the difference being
the at fault driver had low limits of coverage.

I carry T&L in the event I have a rental vehicle while traveling.

 

Got it. Mine was quoted at $368.59 for 6 months.


Medically, both myself and wife are covered under Tri-care. Great benefit for us retired military guys. The $10-$20K UMC covers the catastrophic cap not covered by Tri-care. They then pay 100%.

Got to check with insurance agent about umbrella policies as I want to protect our assets above and beyond the car insurance. My understanding it can add an additional $1,000,000 above the $300/$500K car coverage.

 

If you have more than one vehicle and a house, you can often do far better getting smaller limits and a good sized umbrella policy which will cover all your assets for potential liabilities.
I carry: $300k/$300k liability on all four of my cars, $500k liability on my two houses and my three boats - and supplement those coverages with $5 million umbrella that costs me $950/yr (those limits are the minimums required by the umbrella).
You can get a $1 million umbrella for about $300/yr.