Wow, NCM insurance isn't a bargain...
Thread Starter
Burning Brakes
Joined: Jun 2014
Posts: 1,048
Likes: 126
Wow, NCM insurance isn't a bargain...
I've heard many on here going with NCM as it saves money vs. regular insurance for non-daily drivers, garaged kept cars, it's not a deal for me at least...
I was quoted $2000 a year, if paid in full, for 3000 mile or less non-daily driver 2026 Z06 in zip code 54016. Where as my State Farm for a year is less than $1400 which I do not have to pay in full.
Both have same coverages, $1000 deductible.
Maybe the difference is due to agreed value of NCM vs. what traditional insurance would cover? I set the agreed value at $160k, or State Farm offering multiple car discounts as well as my Home Owners insurance so a "bundled" discount?
At anyrate, guess I'll be sticking with State Farm.
I was quoted $2000 a year, if paid in full, for 3000 mile or less non-daily driver 2026 Z06 in zip code 54016. Where as my State Farm for a year is less than $1400 which I do not have to pay in full.
Both have same coverages, $1000 deductible.
Maybe the difference is due to agreed value of NCM vs. what traditional insurance would cover? I set the agreed value at $160k, or State Farm offering multiple car discounts as well as my Home Owners insurance so a "bundled" discount?
At anyrate, guess I'll be sticking with State Farm.
Last edited by Scott_Wisconsin; Yesterday at 08:43 AM.
Le Mans Master
Joined: May 2005
Posts: 6,655
Likes: 821
From: FORT LAUDERDALE FL
I don't know. I live in a high rate area, South Florida. Have my C8 and 911 on the policy at NCM and pay $2,100/year. The Porsche is a greater portion of that premium. I could not get the coverage I have with them for anywhere near that with SF or any other......I have my CT5 and truck with SF which I like a lot and have had for decades including my real estate . Maybe it's age related?
Last edited by jimmie jam; Yesterday at 08:59 AM.
Thread Starter
Burning Brakes
Joined: Jun 2014
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Melting Slicks
Joined: Jun 2007
Posts: 2,686
Likes: 1,808
From: Myrtle Beach SC/Charlotte NC
I got a quote from them for my 2026 Z06 and it was around $1500 a year with limited milage, I called Progressive and got the same coverage but no limit on mileage for around $1200...USAA who I have been using for over 35 years for everything including umbrella and they were around $2400 same coverage no milage limits...I went with Progressive...
Melting Slicks
Joined: Aug 2000
Posts: 2,415
Likes: 1,185
From: Early 2020 Z51 Coupe, Original Owner, Ahwatukee Foothills, AZ
Problem is with State farm, Progressive you will not know what they'll pay out until you have a claim. That's where reality most often stings 
CF Community Team
Joined: Nov 2005
Posts: 5,221
Likes: 2,875
From: Charlotte N.C.
Insurance is for those what if moments that you can't afford for whatever reason. I've been driving for 55+ years and never made a claim. I'm just fine getting cheap insurance with high deductibles and not having full coverage on my vehicles.
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Melting Slicks
Joined: Aug 2000
Posts: 2,415
Likes: 1,185
From: Early 2020 Z51 Coupe, Original Owner, Ahwatukee Foothills, AZ
That's a great strategy. As long as you can bring the large when it's needed.
Drifting
Joined: Jan 2023
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2024 C8 of the Year Winner - Unmodified
NCM prices for Z06 is more in line with Ferrari, Lambo, etc insurance.
When people cite great prices it usually for Stingray and E-Ray.
Having said that, I do have my Z06 with NCM. When I was shopping around, the mainstream insurance companies were within a few hundred of NCM's quote a year. My usage case fits perfectly within NCM's limitations and agreed upon value is worth the few hundred more given market prices on Z06's today. I am happy with them and they even reshopped my policy at this years renewal and Openroad was ~$500 cheaper than American Modern which was the previous underwriter without me asking.
When people cite great prices it usually for Stingray and E-Ray.
Having said that, I do have my Z06 with NCM. When I was shopping around, the mainstream insurance companies were within a few hundred of NCM's quote a year. My usage case fits perfectly within NCM's limitations and agreed upon value is worth the few hundred more given market prices on Z06's today. I am happy with them and they even reshopped my policy at this years renewal and Openroad was ~$500 cheaper than American Modern which was the previous underwriter without me asking.
Melting Slicks
Joined: Jun 2007
Posts: 2,686
Likes: 1,808
From: Myrtle Beach SC/Charlotte NC
This is true....but it also goes a bit further, it also depends on the case owner that is assigned to a claim. USAA in general have been great to me when it came to claim handling. But I have had instances where I got a case owner who was just difficult to work with......
Melting Slicks
Joined: Aug 2000
Posts: 2,415
Likes: 1,185
From: Early 2020 Z51 Coupe, Original Owner, Ahwatukee Foothills, AZ
This is true....but it also goes a bit further, it also depends on the case owner that is assigned to a claim. USAA in general have been great to me when it came to claim handling. But I have had instances where I got a case owner who was just difficult to work with......
Le Mans Master
Joined: Mar 2001
Posts: 8,449
Likes: 3,938
From: Omaha
2020 Corvette of the Year Finalist (performance mods)
C4 of Year Winner (performance mods) 2019
I've had good luck with them in the past, but have moved away from them a few years ago. For previous Corvettes (C4 ZR-1s, C6 ZR1, C8 Stingray), they were pretty good. But once I went to the C8 Z06, the cost through NCM was actually higher than insuring through my Farm Bureau policy. Considering my FB policy has new replacement value (for up to 4 years old) and only a 7500 mile limit (no use restriction) and was about 60% the rate from NCM, it was a no brainer. Since then, I've gotten used to using the Corvette for a lot of daily tasks as I work from home 100%, so often those are excuses to drive the car. With NCM I wouldn't be able to use it for those "daily driver" tasks, so even if it was the same price or slightly cheaper at this point, for me it still wouldn't be worth it to switch back.
Safety Car
Joined: Jun 2002
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From: Buckeye, AZ
St. Jude Donor '12-'13
This is true....but it also goes a bit further, it also depends on the case owner that is assigned to a claim. USAA in general have been great to me when it came to claim handling. But I have had instances where I got a case owner who was just difficult to work with......
Thread Starter
Burning Brakes
Joined: Jun 2014
Posts: 1,048
Likes: 126
FYI, went back to NCM with my current rate from State Farm, their response:
"...Thank you for letting us know. Unfortunately, I do not see a way for us to get your premium down below $1,400/year without grossly undervaluing your vehicle, which is not something we would want to do. It sounds like you were quoted a pretty stellar rate, so I don't blame you for wanting to stick with what you have! If your situation ever changes, feel free to reach back out and we would be happy to revisit this for you..."
Additionally I've never had an insurance claim, no tickets, and am 55+ if that matters. My home zip code is in the country, so little to no crime. Strange they couldn't beat State Farm...
"...Thank you for letting us know. Unfortunately, I do not see a way for us to get your premium down below $1,400/year without grossly undervaluing your vehicle, which is not something we would want to do. It sounds like you were quoted a pretty stellar rate, so I don't blame you for wanting to stick with what you have! If your situation ever changes, feel free to reach back out and we would be happy to revisit this for you..."
Additionally I've never had an insurance claim, no tickets, and am 55+ if that matters. My home zip code is in the country, so little to no crime. Strange they couldn't beat State Farm...
Last edited by Scott_Wisconsin; Yesterday at 03:41 PM. Reason: Added more information ...
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I don't like restrictions that NCM insurance hangs on you, mileage limitations, a separate car for every licensed driver who lives at the residence, etc
Thread Starter
Burning Brakes
Joined: Jun 2014
Posts: 1,048
Likes: 126
Yeah, I fit their requirements to a "T", have 2 other cars besides the Corvette, only two licensed drivers within the house, Corvette would be very low miles yearly, still they couldn't match the "bundled" discount State Farm was offering...