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Old 12-01-2008, 10:26 AM   #1
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Insurance Costs???

First let me say that I am ordering a new 2SS in Feb no matter what, but I do have a quick question that hopefully somebody can help me out with. I am a 25 year old male, with a clean driving record. Up to this point I have always had used cars with only liability. Does anybody have an idea of what I should expect to pay for full coverage on a 2SS? Thanks in advance, and yes I know that description sounded like its from a singles site, so no comments on that, haha.
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Old 12-01-2008, 10:31 AM   #2
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There are way too many variables for anyone to give you an accurate cost. Bet thing is to call your insurance agent.
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Old 12-01-2008, 10:38 AM   #3
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There are way too many variables for anyone to give you an accurate cost. Bet thing is to call your insurance agent.
Call your agent. Otherwise, the biggest variables are price and safety. If you drive a death trap, it will cost more; if you drive an expensive car, it will cost more.
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Old 12-01-2008, 10:38 AM   #4
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I am 32 and called State Farm for some idea on the cost of insurance. At the time, he said he didn't have a 2010 Camaro in his system, but he ran it as a 2009 Corvette. I run fairly high coverage with fairly low deductibles and the rate was going to be around $800 per year for coverage.
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Old 12-01-2008, 10:48 AM   #5
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I am 32 and called State Farm for some idea on the cost of insurance. At the time, he said he didn't have a 2010 Camaro in his system, but he ran it as a 2009 Corvette. I run fairly high coverage with fairly low deductibles and the rate was going to be around $800 per year for coverage.
I have state farm as well and they classify the '09 vette as a luxury car and a weekend driver so the rates are way lower then they will be for the Camaro. You should call them back and ask for a quote for a '09 Mustang GT for a better idea.
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Old 12-01-2008, 10:53 AM   #6
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I have state farm as well and they classify the '09 vette as a luxury car and a weekend driver so the rates are way lower then they will be for the Camaro. You should call them back and ask for a quote for a '09 Mustang GT for a better idea.
I will check into that too and let everyone know what I find out. Thanks.
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Old 12-01-2008, 10:55 AM   #7
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First let me say that I am ordering a new 2SS in Feb no matter what, but I do have a quick question that hopefully somebody can help me out with. I am a 25 year old male, with a clean driving record. Up to this point I have always had used cars with only liability. Does anybody have an idea of what I should expect to pay for full coverage on a 2SS? Thanks in advance, and yes I know that description sounded like its from a singles site, so no comments on that, haha.
Nobody here can give you an exact quote but from the quotes given to people from their insurance company on here and from people I've talked to, the ranges go from $1,600-$4,000 a year depending on age and location. At 25 I suspect yours will be in the $1,600-$2,000 a year range in you live in a small town or in the $2,000-$3,000 a year range if you live in a big city.

Call or visit you agent and ask for a quote on a '09 Mustang GT. The Camaro will be higher but they'll be close.
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Old 12-01-2008, 11:19 AM   #8
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My insurance company didn't have the Camaro in the system either. Would a more realistic comparison be a Mustang GT, Challenger R/T, or a Challenger SRT?

The Mustang doesn't have anywhere near the amount of horsepower that my 2SS will have. The R/T is the closest in price comparison, but the SRT is closest in displacement and horsepower, but it is 6-7K more expensive. What would be the best comparison?
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Old 12-01-2008, 11:25 AM   #9
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I checked with my agent and compared a Mustang GT and a Shelby GT500...prices was the same as I pay now with the GT and $54 more every 6 months for the GT500.

I drive a Saab 93 Aero (turbo V6)...so I don't expect the insurance to be much different than I pay now...maybe a tad higher. But I am 42 and have a clean driving record and the Saab was about the same price as the 2SS I'm buying.

Prices will vary and without the Camaro in the system it will be tough to say how much it will be. I only called my agent to get an ideal and realize it will be different once I actually get the car and they have it in their system.
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Old 12-01-2008, 11:27 AM   #10
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GO high then you will be pleasently surprised if the cost is lower. So ask about the SRT price.
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Old 12-01-2008, 11:27 AM   #11
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yeah, i would expect corvette rates to be cheaper since their drivers typically drive them like museum pieces.
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Old 12-01-2008, 11:29 AM   #12
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I have state farm as well and they classify the '09 vette as a luxury car and a weekend driver so the rates are way lower then they will be for the Camaro. You should call them back and ask for a quote for a '09 Mustang GT for a better idea.
That's exactly what I did. They used the most expensive mustang GT in their database for a comparison (I'm getting a 2SS).

They quoted me $984 per year or $82 per month for those that might pay monthly. I am 36, married, homeowner with a perfect driving history.
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Old 12-01-2008, 11:52 AM   #13
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I have state farm as well and they classify the '09 vette as a luxury car and a weekend driver so the rates are way lower then they will be for the Camaro. You should call them back and ask for a quote for a '09 Mustang GT for a better idea.
Thats completely not true. I was an agent licensed in over 30 states. First off the Corvette is a Sports car no matter where you go (thats a huge myth that they are luxury cars since they are often owned by the over 50 crowd, almost as bad as the Red cars cost more myth), secondly it is not automatically classed as a weekend car. Its classed based on your use (heck I drove my vette daily). And a big component of the rates is cost to repair. The Vette will very likely cost more to repair in an accident than a Camaro (since panels cant be fixed).

Hoever if you are looking for a ballpark I would say the Vette is the best thing to calculate it off of, the performance is similar and the cost to repair is likely more, so hence in the end you will get a rate and then when you do get the car it will likely be a bit lower making for a nice day all around. The Mustang since it's been out for a few years and far more common than the Vette is likely cheaper to repair. Everyone's given a pretty good answer here, just get your own quote its impossible to campare to what others here pay.
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Old 12-01-2008, 12:05 PM   #14
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Thats completely not true. I was an agent licensed in over 30 states. First off the Corvette is a Sports car no matter where you go (thats a huge myth that they are luxury cars since they are often owned by the over 50 crowd, almost as bad as the Red cars cost more myth), secondly it is not automatically classed as a weekend car. Its classed based on your use (heck I drove my vette daily). And a big component of the rates is cost to repair.
But what company was you an agent for? Just because that was how your agency was doesn't mean all are that way.
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Old 12-01-2008, 12:21 PM   #15
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But what company was you an agent for? Just because that was how your agency was doesn't mean all are that way.
I prefer not to say the name for sure, however it was for one of the top 5 auto insurance companies in the country. All companies do have different criteria and their own proprietary underwriting systems. However there are constants that occur between all companies, and these things are an example. Some companies may weigh these criteria more or less than others but otherwise they are the same (like how many miles a year you drive may have a 10% effect on your rate with 1 company and 15% with another). Later in my career there I was an analyst so I was paid to reserch stuff like that.
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Old 12-01-2008, 12:56 PM   #16
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I prefer not to say the name for sure, however it was for one of the top 5 auto insurance companies in the country. All companies do have different criteria and their own proprietary underwriting systems. However there are constants that occur between all companies, and these things are an example. Some companies may weigh these criteria more or less than others but otherwise they are the same (like how many miles a year you drive may have a 10% effect on your rate with 1 company and 15% with another). Later in my career there I was an analyst so I was paid to reserch stuff like that.
So now you're contradicting what you said about earlier about what I said not being true. You can't claim absolutes without absolute knowledge which you just admitted you do not have.
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Old 12-01-2008, 01:01 PM   #17
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I am 32 and called State Farm for some idea on the cost of insurance. At the time, he said he didn't have a 2010 Camaro in his system, but he ran it as a 2009 Corvette. I run fairly high coverage with fairly low deductibles and the rate was going to be around $800 per year for coverage.
Yeah, about a month ago I called my agent to get an idea. Because the Camaro wasn't out yet, they did it to a Corvette. All I've got to say is be glad you guys don't live in California! I thought the numbers weren't too bad, but because of all the illegal aliens, drunks, drug addicts, criminals, corrupt politicians etc., it's easily double what you'll pay down in the South or in many other states. God bless you guys who are able to get good coverage so reasonably!!!
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Old 12-01-2008, 01:06 PM   #18
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There are way too many variables for anyone to give you an accurate cost. Bet thing is to call your insurance agent.
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Old 12-01-2008, 01:52 PM   #19
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So now you're contradicting what you said about earlier about what I said not being true. You can't claim absolutes without absolute knowledge which you just admitted you do not have.
No I do have absolute knowledge of this, you misread or misinterpreted my post. Insurance companies do not assume by car type that its a weekend only car, that determination is based on the question they pose to you of how you use the car. As well the Corvette is NOT considered by any insurance company to be a luxury car, it is a sports car, or some companies call it a high performance vehicle. As I said in that reply there are certain considerations made by insurance companies that are basically the same and both of those are them amongst others. But there are OTHER criteria that some companies do use and others do not, companies review their data differently and obviously have different customer bases so different experiences. As well some weigh certain things heavier or lighter than others. Example: some companies may give a 5% discount for being accident free, others 10%. This is what causes rates to be different between companies.
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Old 12-01-2008, 06:35 PM   #20
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So I just confirmed with my State Farm agent. They have only two classifications of personal use for vehicles: daily driver or pleasure. It is based on mileage used per year. In general, it is based on the size of the engine so I think the Vette is the right comparison. However, he ran the most expensive 2009 GT-500 and it came out to around $900 per year. I hope this helps.
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Old 12-01-2008, 06:42 PM   #21
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I'm 33, clean record, married. I asked my agent to quote me on a 2009 Corvette Coupe. It came out to $69 a month. Not bad. I'm with State Farm.
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Old 12-01-2008, 07:26 PM   #22
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This is one of the few reasons I'm glad I'm a claims adjuster for AAA Insurance... automatic 15% employee discount + multi car + good driver + multi-policy discounts!
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Old 12-01-2008, 07:34 PM   #23
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This is one of the few reasons I'm glad I'm a claims adjuster for AAA Insurance... automatic 15% employee discount + multi car + good driver + multi-policy discounts!
I've been trying to get a job with an insurance company for the sales work. I didn't even think about the possibility of saving money on my own insurance. Hopefully, someone in one of the major insurance companies picks me up.
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Old 12-01-2008, 09:00 PM   #24
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Yeah, about a month ago I called my agent to get an idea. Because the Camaro wasn't out yet, they did it to a Corvette. All I've got to say is be glad you guys don't live in California! I thought the numbers weren't too bad, but because of all the illegal aliens, drunks, drug addicts, criminals, corrupt politicians etc., it's easily double what you'll pay down in the South or in many other states. God bless you guys who are able to get good coverage so reasonably!!!

Be glad you're not in Michigan. I'm retired and have an 07 CTS as a THIRD car, and with all the discounts for multi vehicle, having my home and boat insured with them, no accidents tickets (ever) etc. they're still whacking me almost $1300 a year (with high deductibles). They claim its because of the mandatory coverage in this state for all of the uninsured motorists and high amounts of coverage for motorcyclists etc. So why do us car owners have to pay instead of the motorcyclists? When I had my $25,000 BMW bike a few years ago my insurance was only $380 a year. This ain't right, and thats why I'm going to buy my Camaro with cash...so I can cancel the insurance in the winter when its stored it the garage. Fire and theft is much cheaper for 5 months and it adds up quick after 4 seasons since you're not going make anything on your money in the stock market or CD's anyway.
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Old 12-02-2008, 06:20 AM   #25
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Progressive can now give you a quote with the Camaro SS. Just checked it and with my age and background through them would be about $150 a month. I have State Farm for Homeowners, and both mine and wifes cars so would be cheaper than that through them. Not to bad that is about what i thought it would cost at the most.
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