Z0HS1CK

Added my Z to my policy last week.

It only raised about 150 more per month. Not terrible. I think i pay a bit more for my M3. But my agent said it's because of the recent increase of car theft for BMW's.

JABCAT

I switched from NCM (American Modern) to Grundy for my Callaway Carbon Edition Z06. NCM changed the premium multiple times from what they quoted me in writing, after verifying their quote multiple times. The premium increased at renewal and they wouldn't insure the vehicle for the value I wanted. 3k/mi, $500 deductible, premium they wanted was $1,500/yr for $65k value.

Grundy (Philadelphia Insurance) insured the vehicle for $85k no questions asked. $0 deductible, no mileage or use restrictions, no increase in premium at renewal. Premium is $1,061/yr. With recent sales of Carbon Z06s, and the significant rarity of a Callaway version (only 3), I'll be increasing that value soon.


In my area insurances rates climbed this summer. My other 3 vehicles and my home are with State Farm and our premiums increased by 25%. I shopped around all major carriers and our SF premiums are still 50% less than all other quotes we received - which is ridiculous. 47/37 yrs old, 830+ credit, no accidents but a couple not at fault claims in the last few years ($2k on my wife's previous Grand Cherokee & $4500 on my BMW, both were hit by road debris) and a roof claim/replacement within the last 4 years.

You can also add your other vehicles and home to a Grundy policy, but the rates they quoted me weren't any better than State Farm, so we just kept that policy.

Panfish

Thanks for the info. It helps a lot.

Panduh

I got quoted for $850/y premium - stated value of $221k - 34 years old and no accidents or claims in the last 10 years, no speeding tickets in the last 5 years

348SStb

State? Ins co?

Panfish

Grundy beat NCM by $800, but the limits are a deal breaker. Technically, you can’t even drive it to the store, only joy rides, car shows, not to work or ANY form of daily driving. I asked specifically about usage. Not using the car as a DD, but their policy is nothing that a DD would do. Looks like Hagerty is the front runner right now which is $500 cheaper than NCM but 5,000 miles vs. 6,000 which is fine. Still foraging for nuts and berries though…

Jmcdude

I don’t have a Z yet but I got a VIN for a new 2023 off a dealer website similar to the msrp of my build ($130k). I gave it to my SF agent and got an immediate quote. Not bad considering I have 2 college students listed on my policy. Unfortunately they can’t be excluded from any vehicle otherwise my rate would be about $200 less. My stingray rate is $485 for 6mo. Z would be $665 for 6 mo.

ncminsurance

We are able to write your car through Hagerty if you would like.

Panfish

I investigated State Farm too as they insure my daily drivers, but there is a catch to those low premiums (what I was told). Check with your agent, but mine said they won’t insure the car’s value to a stated amount or a purchase price, but with depreciation. If your $130K car gets totaled, you’ll only get a percentage of that purchase price the minute you leave the dealer’s lot. I realize that if this car gets totaled, it is essentially irreplaceable for at least several years, unless I pay over MSRP and take an “off the rack” spec, so I want at least what I paid for it until it is functionally replaceable.

Panfish

I didn’t know that. When I upgraded from my C8 stingray I was told a figure of about $1500 or so which made sense as the valuation was the only thing that changed (or so I thought) both reflecting about a 30% or so increase (identical policy, just more expensive car). My premium arrived and I was shocked it was a 60% increase or double what I was told. I thought there must be some error and called NCM and the nice gal told me she also thought it should be about $1500, but transferred me to someone else (American Modern?).

They told me that my 60% increase premium was correct as anything over 500HP is considered in a different risk category, thus the whopping increase. I’ve already done the legwork with Hegarty and Grundy though with quotes, so don’t see what NCM could do for me now. Am I missing something? Still haven’t made a decision on my next move and looking for all available info though.

EvanZR1

The limitations on NCM aren't as restrictive as everyone makes them out to be. You can't use the Corvette as a daily driver replacement (i.e. taking it directly to/from the grocery store on a rainy day), but you are allowed incidental use (i.e. out for a drive on a nice day, and need to stop by the grocery store for a few items). I've read the policy thoroughly and got this in writing from NCM. It's exactly the same type of coverage that Grundy has (I've had them as well).

Yes, up to 6K listed, and you can buy additional miles if you're going to need them. On our SR, we were going to over for a club trip to Colorado, so I added an extra 2K miles for under $100.

Sad to hear that. I've seen the same thing in the past with my C6 ZR1, started off cheaper with NCM, then it jumped a crazy amount so I switched it to Grundy. I've had claims (small) on both Grundy and NCM, and both were super easy to deal with and quick to pay. I've yet to try Hagerty, as at least for me, they have always been way higher than either NCM or Grundy.

This is incorrect. The Grundy & NCM don't allow for "daily driver use", but they do allow for incidental use when out for a pleasure drive (i.e. stopping at the store for a few items). What none of them want to see (including Hagerty), is using the car as a daily driver replacement. So basically my example above: it's a rainy day and you drive the Corvette directly to/from the grocery store for your normal weekly/monthly shopping trip to buy several hundred dollars in groceries. If it's a nice day and the wife and I want to go for a drive in the Corvette, and she wants to stop somewhere and shop for shoes, we are absolutely covered with any of them as that is "pleasure" use. NCM does offer an exception policy for driving to work (but it adds cost), Grundy does not (although again if it's "incidental" you'd be covered, and my agent in the past for Grundy said 1 or 2 times a month wouldn't be an issue), and I'm honestly not sure about Hagerty (but I'd advise you check the policy document closely before signing). Basically, any agreed value collector policy is going to require you to have a daily driver and not use the Corvette as a daily driver.

Panfish

You are contradicting what the Grundy rep told me. I asked specifically about this including examples. I can only go on what an insurance rep tells me, not a forum “expert”. I will talk to them again and get another explanation to verify. I have my AM policy, and quotes with basic coverage info from Grundy and Hagerty, but the details matter. As for DD usage, I believe I was clear on that. NCM has had my stingray policy for almost 4 years with similar restrictions, so I’m familiar with language.

EvanZR1

I'm certainly not telling you to do something you're uncomfortable with, but I would encourage you to read the policy for yourself and not rely on what reps state. Verbal communications by sales reps are worthless and have no legal standing. The actual written policy is pretty clear:
Grundy policy language from about 3 years ago:
Grundy quote/application from earlier this year:
The key words are "regular" and "frequently". Those qualifiers directly imply that limited/incidental use is ok when combined with "pleasure use". I can tell you from the claim I had with Grundy (cracked wheel from a pothole causing a tire failure and fender damage), that they didn't even ask where I was going to/from, they just sent an adjuster out to inspect the damage and paid the claim. AM/NCM was a little more detailed on a recent claim (rock cracking windshield), asking what the mileage was at the incident, where we were going, and what our daily driver vehicles were, but once they had that, a picture and quote from the dealer, they immediately issued a check.

JABCAT

I've read my policy documents front to back several times and don't have those restrictions

Panduh

I live in Westerville Ohio and use Cincinnati Insurance

Panfish

I appreciate the responses. Of course, I will see what the present policy language reads before selecting an insurer.

zcobra1

Yep….when we moved all cars to Lake Havasu. Az from So Cal., insurance is less than half. With the recent new increases in Cali, it is 3 fold more than Az……

zcobra1

AAA is ridiculously expense. Insane. progressive is who I ended up with.

GmdVT

I was just quoted 2140 a year for both my 2019 Jetta GLI and my Z06 with Erie, I’m inside the DC beltway so not bad imo

FL-355

Again, depends where you live. With Geico there was a $400 yr price increase compared to my C8. Decided to go with Grundy for a few hundred more because of agreed value, which GEICO does not do. This is a special car and a keeper for me, so well worth it.