Khaberst

This is my first joy-ride car and I'm pricing out insurance. Here is the monthly pricing for my C8 with identical coverage to my 2 daily drivers (Raptor and Odyssey). $500 comp/coll = $120.99/Month

$1,000 comp/coll = $111.08/Month

$2,000 comp/coll = $95.83/Month

Wondering if there is a theory on what the deductible should be on a car you're limiting the risk exposure on by not driving it daily.

RFS-Z06

With cars costing so much now. I have My deductibles as high as I can. It lowers My Yearly insurance payment. If You do wreck it. Does it matter if the deductible is $500 or $2000 when the repair will probably be $20,000 or more?
i hit a Deer in Our Mustang. Needed a fender one headlight and a hood. And a couple brackets. That was almost $9000.
The savings in My Premiums more than offsets the difference in the deductible. That most Body Shops will pay anyways so They can get the work.

Acpantera

$1,000 on all our vehicles for decades now. Saved a lot.

Kevin A Jones

I don't know what others are doing is very relevant as everyone's tolerance for risk, amount of deductible they can afford to pay in the even an accident and how much mileage they expect to put on their C8 is different.

Personally I opt for a higher deductible as I don't put that many miles on my C8 since I drive two other vehicles as well as my C8 and I can afford to pay a high deductible if I have an accident.

progtp

My insurance company here in Canada has a mandatory $2000 deductible for any car over $100,000. This was news to me when I bought my most recent C8 with an MSRP of $109,000

johnodrake

$1000

Kevin A Jones

Sounds reasonable for vehicles at that value. Surprised more insurance companies don't do it.

Kracka

I moved from $500 to $1k last fall.

Khaberst

I chose the 1,000 option... May bump to 2,000

Rapid Z

$500 all around, maybe I should look into raising it to save some $$ too

z28lt1

Other than your ability to pay the deductible out of pocket (which is hopefully not an issue for anyone owning a C8 at this juncture) it's pretty much math.

For the OP, the difference in premium (Ignoring inflation and interest which do change the math some) get him from the $500 deductible to the $1000 deductible in about 4 1/4 years. So, if you think (guess) you are going to have a claim in the next 4.25 years, you should stay with the lower deductible. If not, go higher. For the $1k to $2k deductible, that's another 6.5 years (so 6.5 years from the $1000 or 10.75 from the 500). The insurance companies have all the data to make this math work, so from their end, it probably washes either way, which means it probably does for you as well. That said, if it were me, looking at the math I'm probably at the $1000 deductible, for a non-daily car is the odds of a claim in 4 years doesn't seem great, but the odds of one in 10.75 seems more likely.

vacek

What company are you dealing with ?

I'm paying $478/year CAD for my 22 C8 ... BUT deductible is $6500 ...

I have been told by every insurance company that any vehicle over $100k , must have a deductible of 5% of purchase value. I have verified this with friends also. Might be an NB thing, but in any case my reality.

ALL my other vehicles I run at a $2000 deductible, as anything lower I'm not putting through insurance.

switchlanez

I switched to $1000 after keeping steady at $500 all my life. Inflation has set a new base norm.

tadda

$1000

Floridasky

I have Hagerty and it’s zero.

SBMtbiker

$2000, daily driver.

Khaberst

That's where i landed as well, and went with the 1,000.

Cartert75

$50

gliot1

I checked mine today. Only saved $6.81 per mos. The break even is 7 years if I had any kind of mishap. I kept mine at $500.

JABCAT

My Corvette is on an agreed value policy with Grundy & $0 deducible. My other vehicles have $500 deductibles.