Insurance Cost Doubled from C6 to C7 with GEICO
09-16-2015, 03:49 PM
#41
Instructor
I'm in NJ with one of the highest insurance rates in the USA. I was quoted an additional $200/every 6 months going from a 2007 vert to a 2016 z51 vert. I was already paying about $1150 every six months on the 2007 vert so to go to $1350/every 6 months isn't drastic but compared to some of the rates I see listed across the USA, NJ is still getting screwed.
09-16-2015, 03:49 PM
#42
Racer
09-16-2015, 04:12 PM
#44
Melting Slicks
Sounds like it is universal. If you have been a long term dedicated customer they are trying to screw you. I was with CSAA (AAA of N. Calif) and they quoted $3200 for a year. Ok, Two years ago I totaled the C5. I went to Allied, a division of Nationwide, for a quoted $934 a year. Waiting on the car to be built this week.
Sounds like the thing to do is shop.
Sounds like the thing to do is shop.
09-16-2015, 04:37 PM
#45
Melting Slicks
Wisconsin, the premium dropped 20 bucks, use to be $200. I guess you gotta pay extra for fires, drought and mudslides.
Last edited by Pisswilly; 09-16-2015 at 04:41 PM.
09-16-2015, 04:39 PM
#46
Melting Slicks
09-16-2015, 04:40 PM
#47
Le Mans Master
I dumped GEICO 52 years ago and never looked back - their rates were absurd and they offered little service..... went with State Farm for years until I qualified for USAA.
My insurance went down from a CTS-V Cadillac when I returned to the Corvette fold with my C7.
My insurance went down from a CTS-V Cadillac when I returned to the Corvette fold with my C7.
09-16-2015, 06:08 PM
#51
last january i switched 4 0f my 5 vehicles to liberty mutual ins after seeing the commercials on TV,over and over. so i called the local agent here and saved about $438 a year total by switching 4 of them from state farm(my SF agent never called and asked why did i switch and to who etc.)to LM. higher coverage than most and decent AGV numbers and three are recreational use and garaged. for instance my 2004 c5 z06 is $540 per year.good driving record and high credit score. any body in florida can call my agent gal too. safe travels all!
09-16-2015, 07:00 PM
#53
If you are in FL keep an eye out on your next renewal. There are 5 - 15% increases coming across the board from most companies over the next year. It's mostly due to the latest law passed last year that requires you to file a medical claim within 14 days of an accident or forfeit your right to coverage. It was supposed to reduce fraud but it's caused a massive spike in claim frequency as well as claim values.
Claims are grouped at the highest level under 2 main categories, frequency and value. Because people are being told they must go to the hospital to protect their potential claim there has been a huge spike in frequency. Add to that all the lawyers who have been advertising against this law getting many more cases which causes the costs to go up.
A law that was supposed to reduce risk has backfired, AGAIN!
Claims are grouped at the highest level under 2 main categories, frequency and value. Because people are being told they must go to the hospital to protect their potential claim there has been a huge spike in frequency. Add to that all the lawyers who have been advertising against this law getting many more cases which causes the costs to go up.
A law that was supposed to reduce risk has backfired, AGAIN!
09-16-2015, 07:38 PM
#54
Le Mans Master
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I was paying $557 year with Erie on my 2007 convertible. My 2015 Z-51 coupe went up $15.00 to $572.00 year. I have to lay it up for 3 months in the winter.
09-16-2015, 07:45 PM
#55
Race Director
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What's the feeling about SafeCo by Liberty Mutual?
09-16-2015, 08:20 PM
#56
When you need a quote, always use a VIN. Before I pulled the trigger, I found a 3LT convertible with the Z51 package and gave that VIN to the gekko. I was pleased with the number; a hair over $2K a year. We shall see what the renewal this October will be.
09-16-2015, 10:47 PM
#57
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It is nuts what some insurance companies want for premiums. Every year I check to see if I can get better rates - only takes a little time and could save some significant money.
09-16-2015, 11:43 PM
#58
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I'd like to ask this again. Anyone have experience with SafeCo Insurance by Liberty Mutual? They are quoting about 1/2 of what GEICO wants for the same coverage.
09-17-2015, 12:02 AM
#59
Le Mans Master
What is the name of your insurance company?
09-17-2015, 12:18 AM
#60
Team Owner
Check your policy. Geico is automatically adding 3 or 4 option, Rental Car options etc. that bumps the rate way up. You have to go in and opt out.
I think I'm about $50 bucks a year higher on my C7 vs. C6.
I think I'm about $50 bucks a year higher on my C7 vs. C6.