Old buckeye

Does your insurance cover the present market value of your C8 or does your company only cover the manufacturer's price minus depreciation based on mileage / age of the car?

BLUE1972

agreed value on mine ,

Aviator

Actual cash value for me. GEICO.

Mrchen

insurance purchased from National Corvette Museum, agreed value

jwt1603

Me too.

BlindSpot

Hagerty - Agreed value

Frankb10

My 2023 HTC with full coverage in Massachusetts is $410….I’m sure it would be current value if anything happens…

Vetteman Jack

Unless you get an agreed value policy, I would think that in the event of a loss the insurance company would pay the MSRP minus depreciation. Could be wrong though as the market is still a bit crazy when it comes to the value of a used C8.

Vega$Vette

Who's the contact person at NCM for insurance?

jwt1603

https://www.ncminsurance.com/

Anyone there can help. They're all pretty good. Adam Boca is the head guy.

Vega$Vette

Thanks I submitted for a quote. Progressive just raised my insurance 50% and said it's because of the economy

Aviator

The insurer will pay actual cash value. If the market is still hot, you could get paid more than MSRP.

Dads2kconvertible

Are you sure of that because you've read and understood your contract with your insurance company or because that's how you think things should be?
I can't stress enough - read your contract. That's what determines your coverage.
Note that NCM has mileage restrictions that are likely not on your Progressive policy. It's challenging to get an apples-to-apples comparison sometimes.
"FLEXIBLE MILEAGE OPTIONS
We offer a range of mileage options meticulously designed to align with your specific driving requirements. Choose from our 6,000, 3,000, or 1,000 mileage tiers...".

tadda

I went with NCM with an "agreed replacement value" to cover added upgrades and taxes paid...

Vega$Vette

I had my C7 ZO6 with Grundy. It was less to add my C8 to our daily driver policy but at renewal they increased our policy premium by almost 50%. So now I’m looking at going to NCM or back to Grundy. My 67 is on Grundy Nevada policy. Because I have the 67 registered in NV and my C8 in FL I have to have 2 policies, one for FL and one for NV.

EvanZR1

Agreed value with NCM on mine. Just a note on the mileage, you can add more if needed. I set mine as 6K miles, but I'm going over this year due to some trips, and it was a simple email to add more miles. They do charge extra, but it wasn't anything horrible.

Fast Dawg

Same - with no mileage limits or pleasure drive only restrictions.

rfkirk

I always find that a discussion of the pricing of car insurance to be a bit misleading. Rates are based on the zip code you live in, your driving record, the specific car type you have, and lastly the coverage and deductibles you carry. that being said, I was just about to post a question about the NCM insurance. My home, auto, and liability policy is written by AIG and is an agreed upon value policy. Both my wife and I have daily drivers that are not the cars in my toy box. In there I have a 1953 Chevy pickup truck and a 1967 Jaguar E-Type Coupe. I have the highest coverage that they offer 500k/100k/500k with a $500 deductible. The costs for these two vehicles are $42 and $313 and the agreed upon values are fair, although I need to raise the truck at the next renewal given my on-going refurbishment.

I'm considering NCM Insurance when I finally get my C8 and would add the other two toys to the policy. My AIG liability policy requires that if I insure any cars outside of AIG, I need to have the same coverage as I do on the daily drivers. All that being said, does anyone have any experience with NCM insuring the collector cars but not the daily drivers? While neither the Jag nor the truck will go over a couple thousand miles a year, I don't want any crazy limit on when and where I can drive them, the same goes for the C8. While I don't expect to put more than 7-10k miles a year on it (probably closer to 5-6k) I want to drive it anytime I want to.

EvanZR1

You're correct on rates, that's why it's more helpful to give the following type of feedback: For me NCM was the lowest, with Grundy being 1.5X and Hagerty being 2X.
And NCM doesn't insure daily drivers, you must have those on a different policy anyway. And yes, almost all the collector car policies must be written to the same levels (or higher) as your daily drivers for coverage. Go to ncminsurance.com and they'll help you out with everything you need. I've used both them and Grundy on multiple cars and been very happy with both. Also, if you're an NCM member or an NCCC affiliate club member, you get a discount through NCM.

BruceV

Who is your insurance company - and what do you have for coverage - $250K-$500K, umbrella, low mileage discount, just curious - my agent is quoting me crazy numbers - I'm a 99 rating.