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State Farm will reduce your insurance when in storage and you do not have to turn your plates in. As for the $883.00 for 6 months sounds a bit high all you can do is shop around for a better deal.
I'm in Upstate NY as well and am insured by Main Street America ( National Grange Mutual). I pay just over $200.00 for 6 months for my C7 Grand Sport. Full coverage with $1000.00 deductible. I know it may be apples to oranges comparing the C7 to a C8 ( I'm on the waiting list at my local dealer) but when I traded up from my C6 my insurance did not go up more than a couple of dollars. My advice is to check with a local independent agent and have them find insurance for you. I had Geico previous to my current company and was paying much more in premiums. You live close to me, PM me and I'll give you the name of my agent.
I received a quote from Hagerty last week for my soon to be HTC Z51 with an agreed value of $100k (but will change that to 130) for $1635 and I live in NE Florida with clean record and 2 other collector cars with Hagerty. That price strikes as a little high compared to my other cars but I remind myself that it is agreed value and no mileage constraints.
Just for grins I just went to NADA to value a 2020 HTC Z51 and here is the results:
As you can see even NADA values used C8s for more than what you should have paid.
Last edited by Ancient Mariner; 12-15-2021 at 03:39 PM.
Agreed value never changes unless you request a change down or up for more money if your C8 becomes more valuable.
My C8 will cost me $94k plus around $6k for taxes, registration etc. I will legitimately have $100k in my car. If for some reason in the next few crazy C8 years my C8 is totaled I won't be able to replace it anywhere near $100k, either by waiting another year for a new one or now from a dealer with ADM, hence my making the value $130k and like all insurances, you only win if you lose. The higher premium is worth it to *me* until the market becomes more stable.
IMHO
Last edited by Ancient Mariner; 12-15-2021 at 03:41 PM.
Agreed value never changes unless you request a change down or up for more money if your C8 becomes more valuable.
My C8 will cost me $94k plus around $6k for taxes, registration etc. I will legitimately have $100k in my car. If for some reason in the next few crazy C8 years my C8 is totaled I won't be able to replace it anywhere near $100k, either by waiting another year for a new one or now from a dealer with ADM, hence my making the value $130k and like all insurances, you only win if you lose. The higher premium is worth it to *me* until the market becomes more stable.
IMHO
location, driiving record , sex, age etc. dictate pricing. Everyone will be different. Mine was $1300 per year in VA.
This. Plus what coverage/deductibles you have. Plus whatever other insurance you have with the company. Plus in some cases credit scores.
Originally Posted by Sin City
It's really difficult to compare insurance quotes from around the country. You're better off asking people in your zip code who have similar driving records
How many miles you drive a year also has an influence.
I shopped around a lot. Mine went from $1200 / 6 months to $800 / 6 months "apples to apples". Vegas is known to have high insurance rates so I expect to pay more insuring there. I have a perfect driving record and no accidents. I'm also a loooooooooooooooooong way from 20 years old.
So YMMV. I would suggest shopping around. Its free. It just takes a bit of time on your side.
Yes, asking others in the area might help, but as noted at the end, shopping around is the best idea if your quote is high. If everyone gives you the same price---it's just right.
Originally Posted by Hockeyfun1
Just did an online quote from Erie. It's $12/month cheaper.
Did one with Hagerty and they are $80 a month MORE.
Glad you shopped. That's the only way to really know. Might be worth a call to a broker who deals with more than one company as well. They can give you the "best" deal from the companies they work with. Online quotes are easier, but sometimes a few minutes on the phone is really the best.
I'm really bad at making annual calls and checking, but it is a good idea to do so.
Agreed value never changes unless you request a change down or up for more money if your C8 becomes more valuable.
My C8 will cost me $94k plus around $6k for taxes, registration etc. I will legitimately have $100k in my car. If for some reason in the next few crazy C8 years my C8 is totaled I won't be able to replace it anywhere near $100k, either by waiting another year for a new one or now from a dealer with ADM, hence my making the value $130k and like all insurances, you only win if you lose. The higher premium is worth it to *me* until the market becomes more stable.
IMHO
If it is worth $60K in ten years and you total it, you will get the "agreed value" regardless. But, I would think you would see the value going down and adjust your agreed value to reduce your premium.
Bud if the market adjusts than you go to another carrier. It is not a life sentence! I plan on having the agreed upon value for no longer than necessary.
Is it also possible to have Geico insure my non-Corvette and then some other company insure my C8?
Yes. I have my DD insured with State Farm and homeowners too for better pricing on insurance. My 2 other collector cars and soon C8 are with Hagerty and stipulates you must have a DD insured with another company.
You *might* lose a multi car discount with your current insurance company but you will still be ahead on pricing by changing to companies like Hagerty, Grundy etc. From what I understand from reading other posts, the museum insurance restricts mileage allowed to be driven and other restrictions that Hagerty and Grundy don't have.
I'm in Upstate NY as well and am insured by Main Street America ( National Grange Mutual). I pay just over $200.00 for 6 months for my C7 Grand Sport. Full coverage with $1000.00 deductible. I know it may be apples to oranges comparing the C7 to a C8 ( I'm on the waiting list at my local dealer) but when I traded up from my C6 my insurance did not go up more than a couple of dollars. My advice is to check with a local independent agent and have them find insurance for you. I had Geico previous to my current company and was paying much more in premiums. You live close to me, PM me and I'll give you the name of my agent.
Even being a C7, that's a great rate you're paying.
I just heard about Main Street America a few months ago when I was checking out rates with a few companies. The agent seemed very positive on them, but because I never heard of them & because I really didn't know the agent, I ended up switching to Geico from NY Central.
I have NCM insurance with 6000 miles per year, I generally drive a bit less than that. My rate for the C8 and a Mazda Miata (1990) is about $850 per year. Requires the cars are garage kept which I do. I'd like to think that your rate should be less than half what you are paying especially with only 2500 miles.
It's really difficult to compare insurance quotes from around the country. You're better off asking people in your zip code who have similar driving records
How many miles you drive a year also has an influence.
I shopped around a lot. Mine went from $1200 / 6 months to $800 / 6 months "apples to apples". Vegas is known to have high insurance rates so I expect to pay more insuring there. I have a perfect driving record and no accidents. I'm also a loooooooooooooooooong way from 20 years old.
So YMMV. I would suggest shopping around. Its free. It just takes a bit of time on your side.
I agree, relevant to where you live, in Miami that would be a great price for insurance.
SW Florida, Geico, $313 for 6 months. The usual full coverage limits. I insure 7 vehicle with Geico.
I would carry at least 100/300 BI coverage and 100 property damage. Remember if you get into an accident with insufficient coverage they come after you. If you have a bit of assets then add a 1 mil umbrella to that also. If not your risking your future. Everything else on the policy can be standard.
12-15-2021, 11:10 AM
