Never a Burn out!
Melting Slicks
Joined: Nov 2019
Posts: 2,528
Likes: 1,567
Drifting
Joined: Apr 2014
Posts: 1,458
Likes: 625
From: Southeast, FL.
I have used NCM for all of my Corvettes, Camaro ZL1 and Porsche’s and they have been great to work with. But check with other agreed value insurance companies too. Haverty, Hagerty, Barrett-Jackson and others.
As stated by jcp911s above you will need to keep it in a lockable garage and have another vehicle as a daily driver. Try to determine honestly how many miles that you think you actually drive. You can set your mileage at 3000, 6000 or 9000 for the year. The more mileage the more it will cost. Also where you live will also determine your cost. South Florida will be more than less populated areas for the same car and mileage. New cars will be easy to find an agreed value because it will be MSRP. A body off 67 Vette restoration will need pictures, invoices to prove the wanted value is valid. NCM will be insuring my C8 when it arrives. Good luck with your new car.
As stated by jcp911s above you will need to keep it in a lockable garage and have another vehicle as a daily driver. Try to determine honestly how many miles that you think you actually drive. You can set your mileage at 3000, 6000 or 9000 for the year. The more mileage the more it will cost. Also where you live will also determine your cost. South Florida will be more than less populated areas for the same car and mileage. New cars will be easy to find an agreed value because it will be MSRP. A body off 67 Vette restoration will need pictures, invoices to prove the wanted value is valid. NCM will be insuring my C8 when it arrives. Good luck with your new car.
Melting Slicks
Joined: Jun 2013
Posts: 2,598
Likes: 1,593
This goes beyond declared value.... most of the cost of car insurance is injury and 3rd party liability.... that's where the big bucks are, and you can kill somebody just as dead in a $500 beater as a Ferrari.... I have a lot to protect, and always max out my third party liability... usually $250/500K... (Flo here.... also really look into bundling it does save alot)
For example, my 2016 C7 premium is about $950/yr.... my 1998 Ford F250 was $1,100/yr... this is purely due to liability.... and an F250 is more likely to be a work vehicle, and thus more likely to be in an accident... its actuarial risk, not the value of the car....
For comparison, I had 3 Porsche 911s and a C3 Convertible on my collector car insurance, with the same coverage... 2,500 miles/yr... the first car was $275/yr, and the additional cars about $150/yr each.... (I don't know about you, but saving $2-3K/yr is alot of money to me....).... just FYI, I had my '70S declared at $25K, but re-set it to $100K, and my premium went up about $50/yr.... noise, really.
Most "hobby" cars are pampered way beyond the restrictions imposed in the policy, and the insurance companies know that.... it's really with looking into
For example, my 2016 C7 premium is about $950/yr.... my 1998 Ford F250 was $1,100/yr... this is purely due to liability.... and an F250 is more likely to be a work vehicle, and thus more likely to be in an accident... its actuarial risk, not the value of the car....
For comparison, I had 3 Porsche 911s and a C3 Convertible on my collector car insurance, with the same coverage... 2,500 miles/yr... the first car was $275/yr, and the additional cars about $150/yr each.... (I don't know about you, but saving $2-3K/yr is alot of money to me....).... just FYI, I had my '70S declared at $25K, but re-set it to $100K, and my premium went up about $50/yr.... noise, really.
Most "hobby" cars are pampered way beyond the restrictions imposed in the policy, and the insurance companies know that.... it's really with looking into
Race Director
Joined: Oct 2008
Posts: 16,699
Likes: 7,752
From: NJ
info@ncminsurance.com
Not sure with covid 19 and holidays but maybe you are that .01% unlucky ones.
Race Director
Joined: Apr 2014
Posts: 10,465
Likes: 1,755
From: North Texas
I have my cars and house bundled under a traditional plan. To help with the liability coverage cost, I lowered the liability coverage on both the auto and home policies and got an umbrella policy. For me it came out cheaper to do it that way.
Last edited by TxLefty; Dec 30, 2020 at 05:03 PM.
