Looking to buy, but insurance is holding me back...

[frenchsquared]

Im with Hagerty. Its $1700 a year for Z28, 1996 Corvette, 2000 Corvette, 1946 Truck and a 1976 K10. All have 0.00 deductible. I believe just one car is pretty expensive but when you add a bunch it really helps. I added the K10 and it is $4.00 per year for $5,000 in coverage and $0 deductible. Its getting restored at the moment so its not worth much.

[karve]

I too have NCM and mine is around $800/year. I looked at Hagerty, they were a bit more and Geico was way higher.

[frenchsquared]

Originally Posted by karve

I too have NCM and mine is around $800/year. I looked at Hagerty, they were a bit more and Geico was way higher.

Geico is stupid if you have more then one car. Hagerty was half the price of Geico and way better coverage. The $5 a year chevy is $50 a month at Geico.

[dgreenberg]

American Modern. $891 full coverage, $1,000 deductible. $50,000 declared value.


Sent from my iPhone using Tapatalk

[shadowhunter66]

Wow, thanks for the info guys. I'm going to give NCM and some others a call to see what the deal is. For those insured by "regular" agencies (Gieco, Allstate, etc) - is there a reason why you don't insure through the collectors insurance?
I haven't gotten a solid quote from my insurance, but from quick quotes online.. it'll be around $2800, for 6 months... for a weekend car!

[The_Raging_Bull]

Well to be sure, you have to have a daily driver if you use collectors insurance. I've gotten quotes from Haggerty and other collectible insurance houses, but never from Allstate or any of the big insurance houses….I just figured they'd be too high.

One comment on how NCM handles a major claim based on my personal experience: when my 2SSRS was totaled I was leery about how NCM would handle what we all know can be a difficult moment. The 23 year old (in an Accord) that ran the stop sign had no insurance, no license. AMIG (NCM's underwriter - American Modern Insurance Group) said they wanted to do a thorough investigation.

All the facts were in my favor as I was about one body length from the intersection when this fool went WFO; causing him to impact on the front of my car. It displaced the entire front end about 14 to 15" to the passenger side nd bent the frame rails underneath. He got out of the passenger window...as his driver’s door was kinked from the hit. He jumped on my hood, bending it down onto the manifold underneath! Grrr!!! I was livid, as all I had said was that if he hadn't run the stop sign we would never have had a wreck. Well he was unhinged from the get-go. he threatened to cut me up with a knife (and there I was carrying my CC under my coat.) I held up my phone and said "I'm recording everything you say." which ended his threats, but the hood damage remained.

Once it went to AMIG they did a quick, but through investigation. I had been going about 25;when the guy jumped in front of me. I went back and measured everything - where I was - where he was and how far we each traveled to the spot we hit and stopped. Those measurements removed all doubt from the investigators head as I told him do the math; at 25 to 26 mph it took essentially 1 car length to stop – as I said there are any number of online calculators you can use. His comment back was I hadn’t included a reaction time (on purpose).

The 23 year old had accused me of going 45 mph; you know -> I'm in a Camaro SS right>> you've just GOT to be speeding). The investigator came back given the info on measurements, pics, and the lack of skid marks by me (also based on the info in the police report) to tell me that it was 100% the other guys fault. I had His comment was if you were going 45 mph the 23 yr olds Accord, and the BMW that was legally stopped on to the right at the stop sign (that the 23 yr old hit as well..) that we would have all ended up in the middle of the front yard of the home at the stop sign. It was great to hear an investigator make comments like that. He also said that the guy jumping on my car’s hood really helped him establish blame. The cop was particularly hard on the 23 year old, recording the threat in the wreck report, the hood damage and the general surliness of the driver- to whom he issued tickets for no insurance, no license, and failure to yield.

One word of advice, after any wreck go back measure distances and skid marks, and make sure you have pictures taken at the wreck scene. I did and it really helped to shorten the time it took for the final decision to be made. The best part; we had an agreed on price in case the car was totaled...we paid $37,000 for the car...we recovered $37,000; then AMIG added 2% inflation for every quarter we'd had the policy (that’s their policy)..so we got an additional $2100. The process was VERY fair, and the wife and I have stayed with NCM insurance due to the way Adam Boca and the folks at AMIG treated us.

I know it’s a long story, but NCM and AMIG worked together to treat one of us great in the worst of all circumstances- when a car is totaled. You never really know about any insurance company until the moment you have a wreck totaling the car; hopefully you never have to a claim like that. I whole heartedly that we give a NCM a 5 star thumbs up, we're staying with them on the Z06 and the Z/28 - as the experience when a large claim was paid was so outstanding. Total time from wreck to check in the hand..3 weeks 2 days.

We do $965/yr on our ’09 Z06 (500 deductible 3000 mile limit/yr no deductible on broken glass)
& 1005/yr on the newer ‘15 Z/28 (500 deductible 3000 mile limit/yr no deductible on broken glass)

[LS1 Fun]

Insurance uses many factors for rating: Zip code, gender, driving history, type of vehicle, etc. Then you have discounts that they apply for multi-policy, multi-car, etc.

Not one person's premium will be the same because of this. Also, not all insurance companies operate in all 50 states.

I would take all responses with a grain of salt and call a local insurance agent to give you some real world answers for your area.

[shadowhunter66]

Originally Posted by The_Raging_Bull

Well to be sure, you have to have a daily driver if you use collectors insurance. I've gotten quotes from Haggerty and other collectible insurance houses, but never from Allstate or any of the big insurance houses….I just figured they'd be too high.

One comment on how NCM handles a major claim based on my personal experience: when my 2SSRS was totaled I was leery about how NCM would handle what we all know can be a difficult moment. The 23 year old (in an Accord) that ran the stop sign had no insurance, no license. AMIG (NCM's underwriter - American Modern Insurance Group) said they wanted to do a thorough investigation.

All the facts were in my favor as I was about one body length from the intersection when this fool went WFO; causing him to impact on the front of my car. It displaced the entire front end about 14 to 15" to the passenger side nd bent the frame rails underneath. He got out of the passenger window...as his driver’s door was kinked from the hit. He jumped on my hood, bending it down onto the manifold underneath! Grrr!!! I was livid, as all I had said was that if he hadn't run the stop sign we would never have had a wreck. Well he was unhinged from the get-go. he threatened to cut me up with a knife (and there I was carrying my CC under my coat.) I held up my phone and said "I'm recording everything you say." which ended his threats, but the hood damage remained.

Once it went to AMIG they did a quick, but through investigation. I had been going about 25;when the guy jumped in front of me. I went back and measured everything - where I was - where he was and how far we each traveled to the spot we hit and stopped. Those measurements removed all doubt from the investigators head as I told him do the math; at 25 to 26 mph it took essentially 1 car length to stop – as I said there are any number of online calculators you can use. His comment back was I hadn’t included a reaction time (on purpose).

The 23 year old had accused me of going 45 mph; you know -> I'm in a Camaro SS right>> you've just GOT to be speeding). The investigator came back given the info on measurements, pics, and the lack of skid marks by me (also based on the info in the police report) to tell me that it was 100% the other guys fault. I had His comment was if you were going 45 mph the 23 yr olds Accord, and the BMW that was legally stopped on to the right at the stop sign (that the 23 yr old hit as well..) that we would have all ended up in the middle of the front yard of the home at the stop sign. It was great to hear an investigator make comments like that. He also said that the guy jumping on my car’s hood really helped him establish blame. The cop was particularly hard on the 23 year old, recording the threat in the wreck report, the hood damage and the general surliness of the driver- to whom he issued tickets for no insurance, no license, and failure to yield.

One word of advice, after any wreck go back measure distances and skid marks, and make sure you have pictures taken at the wreck scene. I did and it really helped to shorten the time it took for the final decision to be made. The best part; we had an agreed on price in case the car was totaled...we paid $37,000 for the car...we recovered $37,000; then AMIG added 2% inflation for every quarter we'd had the policy (that’s their policy)..so we got an additional $2100. The process was VERY fair, and the wife and I have stayed with NCM insurance due to the way Adam Boca and the folks at AMIG treated us.

I know it’s a long story, but NCM and AMIG worked together to treat one of us great in the worst of all circumstances- when a car is totaled. You never really know about any insurance company until the moment you have a wreck totaling the car; hopefully you never have to a claim like that. I whole heartedly that we give a NCM a 5 star thumbs up, we're staying with them on the Z06 and the Z/28 - as the experience when a large claim was paid was so outstanding. Total time from wreck to check in the hand..3 weeks 2 days.

We do $965/yr on our ’09 Z06 (500 deductible 3000 mile limit/yr no deductible on broken glass)
& 1005/yr on the newer ‘15 Z/28 (500 deductible 3000 mile limit/yr no deductible on broken glass)

Sounds like they really took care of you! I had to fight with Geico over my accident and they pretty much threw me under the bus.. that's why I left as soon as my policy was about to renew.

Originally Posted by LS1 Fun

Insurance uses many factors for rating: Zip code, gender, driving history, type of vehicle, etc. Then you have discounts that they apply for multi-policy, multi-car, etc.

Not one person's premium will be the same because of this. Also, not all insurance companies operate in all 50 states.

I would take all responses with a grain of salt and call a local insurance agent to give you some real world answers for your area.

I know it'll differ from person to person, area code to area code. I just wanted to get an idea of where people were at and gain some knowledge.. Learning about collectors insurance was worth starting this thread.

[Fastduo]

I have used NCM for many, many years. Highly recommended for modern collectable insurance. Must meet their perameters but my insurance for my Z28 is 1/4 what State Farm wanted to charge me in Miami, FL. 51 years old with 4 cars and clean CDL-A, highest level DL possible.

[68camaroz28]

Originally Posted by shadowhunter66

I know it'll differ from person to person, area code to area code. I just wanted to get an idea of where people were at and gain some knowledge.. Learning about collectors insurance was worth starting this thread.

For anyone calling their local agent please be advised that if the company does not offer a declared value you want to shop somewhere else. Basically that is what your paying for along with your area, age, driving record, etc.. Example, if you have two 69 Camaro's and one has a declared value of 40K and the other 70K of course your insurance on the higher declared value will be higher. That is one of the main reasons for collector insurance, "declared value."

[Raven87]

I'm 63, State Farm, $500 deductible, $925/yr with multi-car discount plus they insure my home, clean record other than one 62 in a 50 ticket a year ago.

[chip4]

I am thinking about getting this Collector Car Insurance, what would be my ideal “Agreed Value” for my 15’ Z/28?

Currently in AZ Phx area with USAA: $1192/yr 5k mi, $1k deductible $100k/300k coverage + Full Glass. Mid 40’s no tickets/accidents.

[Dezines]

Originally Posted by The_Raging_Bull

Well to be sure, you have to have a daily driver if you use collectors insurance. I've gotten quotes from Haggerty and other collectible insurance houses, but never from Allstate or any of the big insurance houses….I just figured they'd be too high.

One comment on how NCM handles a major claim based on my personal experience: when my 2SSRS was totaled I was leery about how NCM would handle what we all know can be a difficult moment. The 23 year old (in an Accord) that ran the stop sign had no insurance, no license. AMIG (NCM's underwriter - American Modern Insurance Group) said they wanted to do a thorough investigation.

All the facts were in my favor as I was about one body length from the intersection when this fool went WFO; causing him to impact on the front of my car. It displaced the entire front end about 14 to 15" to the passenger side nd bent the frame rails underneath. He got out of the passenger window...as his driver’s door was kinked from the hit. He jumped on my hood, bending it down onto the manifold underneath! Grrr!!! I was livid, as all I had said was that if he hadn't run the stop sign we would never have had a wreck. Well he was unhinged from the get-go. he threatened to cut me up with a knife (and there I was carrying my CC under my coat.) I held up my phone and said "I'm recording everything you say." which ended his threats, but the hood damage remained.

Once it went to AMIG they did a quick, but through investigation. I had been going about 25;when the guy jumped in front of me. I went back and measured everything - where I was - where he was and how far we each traveled to the spot we hit and stopped. Those measurements removed all doubt from the investigators head as I told him do the math; at 25 to 26 mph it took essentially 1 car length to stop – as I said there are any number of online calculators you can use. His comment back was I hadn’t included a reaction time (on purpose).

The 23 year old had accused me of going 45 mph; you know -> I'm in a Camaro SS right>> you've just GOT to be speeding). The investigator came back given the info on measurements, pics, and the lack of skid marks by me (also based on the info in the police report) to tell me that it was 100% the other guys fault. I had His comment was if you were going 45 mph the 23 yr olds Accord, and the BMW that was legally stopped on to the right at the stop sign (that the 23 yr old hit as well..) that we would have all ended up in the middle of the front yard of the home at the stop sign. It was great to hear an investigator make comments like that. He also said that the guy jumping on my car’s hood really helped him establish blame. The cop was particularly hard on the 23 year old, recording the threat in the wreck report, the hood damage and the general surliness of the driver- to whom he issued tickets for no insurance, no license, and failure to yield.

One word of advice, after any wreck go back measure distances and skid marks, and make sure you have pictures taken at the wreck scene. I did and it really helped to shorten the time it took for the final decision to be made. The best part; we had an agreed on price in case the car was totaled...we paid $37,000 for the car...we recovered $37,000; then AMIG added 2% inflation for every quarter we'd had the policy (that’s their policy)..so we got an additional $2100. The process was VERY fair, and the wife and I have stayed with NCM insurance due to the way Adam Boca and the folks at AMIG treated us.

I know it’s a long story, but NCM and AMIG worked together to treat one of us great in the worst of all circumstances- when a car is totaled. You never really know about any insurance company until the moment you have a wreck totaling the car; hopefully you never have to a claim like that. I whole heartedly that we give a NCM a 5 star thumbs up, we're staying with them on the Z06 and the Z/28 - as the experience when a large claim was paid was so outstanding. Total time from wreck to check in the hand..3 weeks 2 days.

We do $965/yr on our ’09 Z06 (500 deductible 3000 mile limit/yr no deductible on broken glass)
& 1005/yr on the newer ‘15 Z/28 (500 deductible 3000 mile limit/yr no deductible on broken glass)

The other driver was driving illegally. He is automatically at fault. even if you were speeding, even if you blew a stop sign... plain and simple according to insurance, he should never have been there. Same is true of illegally parked vehicles. you hit an illegally parked vehicle, they are at fault.

I am a former insurance agent. Claims reps are a bunch of scum bags that I refuse to deal with and accept their crap. As an agent licensed in the continental 48 and DC, I had to pass an exam that the insurance company put me through school for 6 weeks to pass. Claims reps don't have to do anything. They are unlicensed and don't understand insurance contracts or laws.

[Dezines]

Originally Posted by shadowhunter66

Sounds like they really took care of you! I had to fight with Geico over my accident and they pretty much threw me under the bus.. that's why I left as soon as my policy was about to renew.


I know it'll differ from person to person, area code to area code. I just wanted to get an idea of where people were at and gain some knowledge.. Learning about collectors insurance was worth starting this thread.

Shadowhunter your accident was at-fault, they didn't throw you under the bus. Had the person hit you, they would be at fault, but because you "chose" to swerve and got into an accident your actions caused the accident, not the other persons. I forget the actual term but according to insurance law your actions caused damage. I am not saying it is fair, I am telling you how the law looks at this instance.

Let me give you another example. Hitting an animal will not raise your insurance, its a comp claim because "animals are unpredictable". If a deer runs in front of you and you hit them it is a comp claim and will not effect your rates. If you swerve, hit a pole and total your car, that is an at fault accident because your decision to avoid a situation caused the accident.

The moral of the story is if you have a choice to hit the person causing the accident or ditch. Aim for the idiot driver not the pole. That is what I took away.

-Former insurance agent.