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Urgent Help With Insurance (please)

Old 10-11-2018, 05:58 PM
  #1  
Slynky
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Default Urgent Help With Insurance (please)

When I considered buying a Corvette, one thing I wanted to check on was NOT paying exorbitant insurance for the privilege of driving a Corvette 6,000 (or so) miles a year. So, I have GEICO (for a long time now). In July, I checked on what I might be looking to pay for Corvette insureance by entering the generic Corvette information online at my GEICO account. I was given a quote of $484 (6 months).

So, today I entered the VIN so I could go ahead and have insurance for tomorrow's expected pickup. Understand, I have the base Stingray with options. NOT a GS. NOT a Z06. And certainly NOT "that other one". Stingray / LT2 / Paint / Wheels / NPP, etc.

The premium jumped to $882 (for 6 months). So, after being on the phone with telephone support and that person's manager (for about an hour) it appears that is their quote. The supervisor's best explanation is that the "generic" quote was for a "generic" Corvette with a generic Corvette VIN. Now that they had the true VIN, the system is able to make an accurate quote. Of course, I could argue all night long about the uselessness of providing a quote so far off from the real thing--it's not as if I received a generic quote of $484 for 6 months and then went out and bought a Z06 and tried to get it insured for that amount--I bought a Stingray.

ANYWAY....

I saw threads pop up from time-to-time in 2014 where people compared their premiums. I was hoping someone with similar characteristics with mine might provide their 6-month premium for an idea of what I can and should be paying. Here are the criteria that I hope you can match. (I don't know if this is asking for snesitive private information or not--I don't think so...)

So, coverage for:

GEORGIA
SINGLE
67 (age)
No Accidents

Liability
Property damage
Uninsured motorist
Comprehensive
Collison


THANKS for your help.
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Old 10-11-2018, 06:05 PM
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Everyones will be different. Suggest calling local agents. Do you have the opportunity for multicar or combining homeowners or rental insurance?
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Old 10-11-2018, 06:10 PM
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The National Corvette Museum has an insurance package for 6,000 or less annual miles. I'd give them a call.
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Old 10-11-2018, 06:12 PM
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Originally Posted by CptCvMan View Post
Everyones will be different. Suggest calling local agents. Do you have the opportunity for multicar or combining homeowners or rental insurance?
Calling someone now. I have another car AND home insurance with them.
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Old 10-11-2018, 06:14 PM
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Originally Posted by REPOED C7 View Post
The National Corvette Museum has an insurance package for 6,000 or less annual miles. I'd give them a call.
Sounds like a plan... Thanks.
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Old 10-11-2018, 06:15 PM
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I have State Farm - paying $84 per month ($504 for 6 mo) - that's with full coverage on a 2014 Z51 with $250 deductible.

They aren't the cheapest, but I have never even had to pick up a pen or sign a paper if I have ever had a claim...its just taken care of.
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Old 10-11-2018, 06:16 PM
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You must know that comparing anyone else's premium to yours is not going to be all that helpful. Indeed, living in Atlanta will get you a much higher premium than if you lived in Byron. Even the next county over makes a difference. So does your credit score. Give NCM a call.
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Old 10-11-2018, 06:20 PM
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Originally Posted by mschuyler View Post
You must know that comparing anyone else's premium to yours is not going to be all that helpful. Indeed, living in Atlanta will get you a much higher premium than if you lived in Byron. Even the next county over makes a difference. So does your credit score. Give NCM a call.
Yes, I know. It's why I added some of my individual info so that people with (perhaps) similar characteristics could comment. I will call NCM. Thanks !
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Old 10-11-2018, 06:20 PM
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Originally Posted by Mayor111 View Post
I have State Farm - paying $84 per month ($504 for 6 mo) - that's with full coverage on a 2014 Z51 with $250 deductible.

They aren't the cheapest, but I have never even had to pick up a pen or sign a paper if I have ever had a claim...its just taken care of.
That's who I'm on the phone with now.
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Old 10-11-2018, 06:26 PM
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If you have a smart phone, download the ROOT insurance app.

https://www.joinroot.com/

https://www.reddit.com/r/personalfin...w_legit_is_it/

My insurance jumped about 600 a year from my C6 to my C7 so I am looking at alternatives. Root actually measures your driving for a period of time and then provides a quote. 2 to 3 weeks of driving and will then tell you what your premiums would be if you elect to go with their insurance. Like statefarm and progressive, they monitor your driving via GPS on your cell vs the OBDII connector. It measures your breaking, speed, turns, etc. I am on week one. We will see what happens.

Ken
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Old 10-11-2018, 06:28 PM
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Originally Posted by krwunlv View Post
If you have a smart phone, download the ROOT insurance app.

https://www.joinroot.com/

https://www.reddit.com/r/personalfin...w_legit_is_it/

My insurance jumped about 600 a year from my C6 to my C7 so I am looking at alternatives. Root actually measures your driving for a period of time and then provides a quote. 2 to 3 weeks of driving and will then tell you what your premiums would be if you elect to go with their insurance. Like statefarm and progressive, they monitor your driving via GPS on your cell vs the OBDII connector. It measures your breaking, speed, turns, etc. I am on week one. We will see what happens.

Ken
On phone with State Farm now and they said if I installed their beacon, I'd save 5%.
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Old 10-11-2018, 06:58 PM
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Try a local independent agent. When I traded my C6 for a C7 ( and I was with GEICO) my premium jumped considerably. The algorithm that GEICO uses does not like the C7 for some reason. I called a local agent and they shopped around for me. As a comparison, I have three cars - a '17 BMW X3, '16 BMW Z4 and a '16 Vette (3LT Z51). My premium with full year round coverage is $620 for 6 months for all three vehicles. I mention "year round" because I keep collision insurance on my cars despite the fact that I store the two 2 seaters in the winter. My current policy is with Travelers.
As was stated earlier, several factors are involved including credit score, location (I'm upstate NY).
Good luck!
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Old 10-11-2018, 07:03 PM
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Originally Posted by Slynky View Post
On phone with State Farm now and they said if I installed their beacon, I'd save 5%.
YIKES!!!!! Watch out. That beacon measures your driving style. Too fast? Too hard braking? Acceleration? If it's anything like the OnStar app the definitions of acceleration and hard braking are ridiculous. It's like having State Farm look over your shoulder every second you drive.

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Old 10-11-2018, 07:03 PM
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Originally Posted by markmo View Post
Try a local independent agent. When I traded my C6 for a C7 ( and I was with GEICO) my premium jumped considerably. The algorithm that GEICO uses does not like the C7 for some reason. I called a local agent and they shopped around for me. As a comparison, I have three cars - a '17 BMW X3, '16 BMW Z4 and a '16 Vette (3LT Z51). My premium with full year round coverage is $620 for 6 months for all three vehicles. I mention "year round" because I keep collision insurance on my cars despite the fact that I store the two 2 seaters in the winter. My current policy is with Travelers.
As was stated earlier, several factors are involved including credit score, location (I'm upstate NY).
Good luck!
Lucky you ! Nice find !
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Old 10-11-2018, 07:12 PM
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Originally Posted by krwunlv View Post
If you have a smart phone, download the ROOT insurance app.

https://www.joinroot.com/

https://www.reddit.com/r/personalfin...w_legit_is_it/

My insurance jumped about 600 a year from my C6 to my C7 so I am looking at alternatives. Root actually measures your driving for a period of time and then provides a quote. 2 to 3 weeks of driving and will then tell you what your premiums would be if you elect to go with their insurance. Like statefarm and progressive, they monitor your driving via GPS on your cell vs the OBDII connector. It measures your breaking, speed, turns, etc. I am on week one. We will see what happens.

Ken
No thanks. These insurance company actuaries keep coming up with more reasons to raise your rates. They are slowly prying their way into your private life. First they passed a law to have you provide your mileage every 6 mos. Now, they want to monitor your driving. It use to be you were judged on your driving record and your age. It is getting ridiculous.
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Old 10-11-2018, 07:13 PM
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Originally Posted by Slynky View Post
When I considered buying a Corvette, one thing I wanted to check on was NOT paying exorbitant insurance for the privilege of driving a Corvette 6,000 (or so) miles a year. So, I have GEICO (for a long time now). In July, I checked on what I might be looking to pay for Corvette insureance by entering the generic Corvette information online at my GEICO account. I was given a quote of $484 (6 months).

So, today I entered the VIN so I could go ahead and have insurance for tomorrow's expected pickup. Understand, I have the base Stingray with options. NOT a GS. NOT a Z06. And certainly NOT "that other one". Stingray / LT2 / Paint / Wheels / NPP, etc.

The premium jumped to $882 (for 6 months). So, after being on the phone with telephone support and that person's manager (for about an hour) it appears that is their quote. The supervisor's best explanation is that the "generic" quote was for a "generic" Corvette with a generic Corvette VIN. Now that they had the true VIN, the system is able to make an accurate quote. Of course, I could argue all night long about the uselessness of providing a quote so far off from the real thing--it's not as if I received a generic quote of $484 for 6 months and then went out and bought a Z06 and tried to get it insured for that amount--I bought a Stingray.

ANYWAY....

I saw threads pop up from time-to-time in 2014 where people compared their premiums. I was hoping someone with similar characteristics with mine might provide their 6-month premium for an idea of what I can and should be paying. Here are the criteria that I hope you can match. (I don't know if this is asking for snesitive private information or not--I don't think so...)

So, coverage for:

GEORGIA
SINGLE
67 (age)
No Accidents

Liability
Property damage
Uninsured motorist
Comprehensive
Collison


THANKS for your help.
Try Costco for car insurance. Very affordable.
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Old 10-11-2018, 07:18 PM
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Originally Posted by markmo View Post
Try a local independent agent. When I traded my C6 for a C7 ( and I was with GEICO) my premium jumped considerably. The algorithm that GEICO uses does not like the C7 for some reason. I called a local agent and they shopped around for me. As a comparison, I have three cars - a '17 BMW X3, '16 BMW Z4 and a '16 Vette (3LT Z51). My premium with full year round coverage is $620 for 6 months for all three vehicles. I mention "year round" because I keep collision insurance on my cars despite the fact that I store the two 2 seaters in the winter. My current policy is with Travelers.
As was stated earlier, several factors are involved including credit score, location (I'm upstate NY).
Good luck!
That is way too cheap. You must have high deductibles and low liability insurance amounts. The insurance for my 16 Vette (3LT Z51) in SoCal is $750 a year by itself. But that is with a $500 deductible and $500K in liability. California is a very litigious state. With that said I know Costco Insurance is very inexpensive. I could get insurance for all 4 of my cars for $1800 a year. That is $900 every 6 mos. Right now, I am paying $1300 every 6 mos. Way too expensive. But the wife is comfortable with our insurance (Mercury) so she does not want to change.

Last edited by ptalar; 10-11-2018 at 07:19 PM.
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Old 10-11-2018, 07:26 PM
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Slynky,
After searching a few companies I just insured a 2019 Stingray and similar age, no accidents, etc for $1420 / year. That, of course, is a little over $700 for 6 months. That was the best rate I could find. It was AARP-The Hartford. AARP has teamed up with Hartford on this but they don’t do 6 months, either monthly or yearly. This was the Corvette cost but bundled with wife’s suv and homeowners insurance. The homeowners rate was really good, my wife’s SUV rate was really good, and the C7 was only slightly better. But the package saves us a lot. Plus this is in Michigan (notorious for high rates).
Tasml

Last edited by Tasml; 10-11-2018 at 07:46 PM.
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Old 10-11-2018, 07:26 PM
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Iím 60 with no accidents or tickets. GEICO wanted $1700 per year for my 2019 Stingray. I went with Grundy as they are $700. Good luck!
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Old 10-11-2018, 07:36 PM
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Originally Posted by Dallas007 View Post
Iím 60 with no accidents or tickets. GEICO wanted $1700 per year for my 2019 Stingray. I went with Grundy as they are $700. Good luck!
That is outrageous. You should check out Costco for car insurance.
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