ron landgraf

I was reviewing insurance coverage on my 2016 Stingray.
Agreed value is now being offered.
$150 per year for $76,000 of coverage.
Retail was $73,300.
What say you?

Borntorun04/17

You got a quote of 150 a year for 76,000 value? MAY I ask with who ? Or was that a month !

mountainears

Or maybe that was a $150 rider on top of the original policy annual price to get an agreed value amount.

In any case, $150 p/year to protect the value, even if it is a rider on top of an existing policy, and having the value above original MSRP seems like it is a win. If your car is totaled for some reason you'll have enough money to go out and replace it should you desire.

mtaxman

That sounds way to cheap and in need of further detail for a reasonable comparison.

NCM Agency just quoted me a price of $540 with a 1K ded for $68,500 of coverage, garaged, GA (not Atalanta metro) . On a new GS.

Physical Damage is the major cost of insurance on a "collector car" type policy like the one NCM sells. I believe agreed value is normally more costly than depreciated value.

Vetteman Jack

If it is $150 on top of the normal cost of the policy, that's probably not too bad.

Flame Red

Which carrier offers Agreed Value? Or you have collector car insurance?

rmorin1249

I would expect there may be several limitations about when and how much your C7 can be driven.

mountainears

We need to hear back from the OP to see if it was a rider on top of an existing policy or a full collectors policy to understand.

But even on the collectors policies, like what the museum offers (and I have), while there are limitations they can be driven quite a bit. Unless it is your daily driver and/or not garaged, they are pretty flexible.

Borntorun04/17

So far the best quote I have on agreed value was 1200.00 for 78,000 value . Must be garaged , not dd, I think mileage was 7000 miles a year. Which was about 350 more than just adding new GS to my other cars policy.

mtaxman

as you can figure from my post, at 1,000 deductible the cost of agreed value with NCM is about 7.90 per thousand. For 78k that would be $625.
The defuctible makes a difference as would location. 1,200 seems way too high by any measure.

Borntorun04/17

I wish I could use NCM but they are unable to insure in NYS the quote I stated was from there parent company American Modern.

obxchartercaptain

I have AGREED value of 71,000 on my 2016 3LT Convertible ... 6000 miles a year and a rider that allows me to take it to work twice a week. I pay $629 per year thru the NCM carrier.

mtaxman

as far as I know, American Modern does not own NCM so not their "parent".

NCM is an agency. They place policies with American Modern Home. NCM does not insure cars - American Modern does.
If your quote is from American Modern then it is strange that NCM could not place the policy with AM simply because you are in NY.
Since AM is licensed to insure cars in NY then NCM should have been able to handle it.
Perhaps AM has a specific agency relationship in NY other than NCM.

The insurance business and the distribution system can be very opaque.

Borntorun04/17

I will double check but I thought Bobby in NCM office told me they can't writes insurance in NYS and gave me the number for there Parent company American Modern. American Modern is a subsidiary of Munich Re which is a hugh german insurance company. I will check again with NCM . Thanks for response , Dave

ron landgraf

The $150 is a rider on top of my policy.
I do not believe there are any restrictions, however I will check with the insurance company.

ron landgraf

$150 per year thru Central Insurance.

ron landgraf

Central insurance

mtaxman

In order to put cost in correct context can you tell us 1) how much your comp and collision premium was before this additional $150 and 2) what the deductible is 3) if you are in a metro area?

The company is Central Mutual of Ohio - right?

ron landgraf

$901.40 per year/ 1000 deductible/ town of $60,000/ 20 miles from capital city of several hundred thousand.
Yes, Central Mutual of Ohio.

jagamajajaran

I'm certainly glad my 2014 Stingray was insured with agreed value when I lost it to a flash flood event!