Classic car insurance??

[-=Jeff=-]

I will be switching to the NCM for insurance.. Much better rate and a bit better coverage compared to what I have

[Jagdpanzer]

Originally Posted by dredgeguy

My Z was insured with State Farm with my other cars, home and umbrella policy. Cost about $850/year with unknown value if totaled. At Carlisle I got quotes from both Haggerty and Grundy, one was about the same as State Farm but with agreed upon value of $35,000 and the other $275/year with the same agreed upon value of $35,000. I went to my State Farm agent to show him a copy of the $275/year as it looked too good to be true. He said it was great coverage.....then said, "your car is now 25 years old, sure I can beat that". Sure enough, State Farm offers collector car insurance for cars 25 years old and now I am covered at an agreed upon value of $39,500 for $250/year.

Same experience here with State Farm


Sent from my iPhone using ZR-1 Net Registry

[-=Jeff=-]

Even if I wanted State Farm insurance, I don't think my car would apply

Originally Posted by State Farm Website

Is Your Car Eligible for Antique Car Insurance Coverage?

If you're not sure, these definitions may help:

Classic automobile: A motor vehicle ten or more years old, which is rare or of special historical interest because of exceptionally fine workmanship or limited production. A classic motor vehicle 25 years old or older is covered as an antique.

Antique automobile: A motor vehicle 25 years old or older.
Here are some important conditions for classic car insurance eligibility:

Your antique or classic car must be used on a very limited basis, such as exhibitions, club activities, and parades or similar events.
You need to have restored, maintained, or preserved your antique or classic car.

I put the line in BOLD that I think lends to interpretation. Many of us here have showroom stock automobiles. I don't

When I called NCM, their insurance allows for the few personal touches I have added to my car and it is still insured as a stock car..

[Vette73]

Originally Posted by Jagdpanzer

Same experience here with State Farm


Sent from my iPhone using ZR-1 Net Registry

That is a great agreed upon value 39,500.....I see you have a 390ci.Zr-1...
Is it insured as a stock ZR-1 or modified?

I would venture to guess modified...I mean with prices the way they are on a Z,would an insurance company agree on a value that high?

I think I'm going to up my agreed upon value.....I have condon & skelly northeast classic....Its insured for 23,000......It is modified now with basically a Haibeck 510 package...Its actually Dempseys dragon heart package 522 HP......Should I tell the ins. its modified? Or just say its stock?

Sent from my LG-TP260 using ZR-1 Net Registry mobile app

[DRM500RUBYZR-1]

Originally Posted by Vette73

That is a great agreed upon value 39,500.....I see you have a 390ci.Zr-1...
Is it insured as a stock ZR-1 or modified?

I would venture to guess modified...I mean with prices the way they are on a Z,would an insurance company agree on a value that high?

I think I'm going to up my agreed upon value.....I have condon & skelly northeast classic....Its insured for 23,000......It is modified now with basically a Haibeck 510 package...Its actually Dempseys dragon heart package 522 HP......Should I tell the ins. its modified? Or just say its stock?

Sent from my LG-TP260 using ZR-1 Net Registry mobile app

You are dangerously underinsured.
There is no way that I could replace your car for $23,000.00.
If it costs 35 or more to replace it why would you not insure it for that amount?
Marty

[Vette73]

Originally Posted by DRM500RUBYZR-1

You are dangerously underinsured.
There is no way that I could replace your car for $23,000.00.
If it costs 35 or more to replace it why would you not insure it for that amount?
Marty

Yes....I'm going to notify condon & skelly..Have had them for 15 years now with my other Corvette.....Two claims in 15 years....

Sent from my LG-TP260 using ZR-1 Net Registry mobile app

[Kevin]

Originally Posted by Vette73

That is a great agreed upon value 39,500.....I see you have a 390ci.Zr-1...
Is it insured as a stock ZR-1 or modified?

I would venture to guess modified...I mean with prices the way they are on a Z,would an insurance company agree on a value that high?

I think I'm going to up my agreed upon value.....I have condon & skelly northeast classic....Its insured for 23,000......It is modified now with basically a Haibeck 510 package...Its actually Dempseys dragon heart package 522 HP......Should I tell the ins. its modified? Or just say its stock?

Sent from my LG-TP260 using ZR-1 Net Registry mobile app

I have my stock 90 insured for $32,000

[dredgeguy]

The cost difference between $35,000 agreed upon value and $40,000 was only $4/year. However if you are at $40,000 or higher, the underwriters will require a third party appraisal. At $39,500 they only needed photos of the car.

[Roadster]

Although the 74 is still apart and with American Modern Ins....I was also thinking about doing the same with the ZR-1. I decided against it and kept it on my regular State Farm Ins. plan. Reason being is that I can use the Z anytime, anyplace, overnight, etc., and not worry about being covered if something does happen. Sure it cost a little bit more, but I also keep the cost down by taking it out of service for a few months each year when I'm not really driving it during the snow months. And I don't drive more than 5,000 miles per year and that keeps it emission exempt each year here in PA.

[WARP TEN]

I had a recent unpleasant experience with my insurance company regarding an agreed value policy. To get an "Agreed Value" policy for my ZR-1, and then for my new Z06, I switched to a Nationwide company and they gave me a $50,000 value on the 95 ZR-1. Because of this and high agreed values on my two BMWs I switched everything to them. When I got the 2016 Z06 they did the "Agreed Value" at $92,000, which I was happy with. Didn't pay enough attention to the fine print. When my renewal came around they had dropped the Z06's "Agreed Value" to $66,000 one year later. I didn't agree to that, but it turns out they can change the "Agreed Value" any time they want. So it is not really "Agreed " to and then set until both parties agree on something else. It is what ever the insurance company wants it to be. That value is low wholesale for my car. I finally got them up to NADA retail of $71,000, which is where most cars are insured. But it took 6 months. Nationwide did offer a different new car coverage, which my agent signed me up for, that for three years would reimburse for original cost in the event of a total loss. But this time I read the fine print. The coverage specifically excluded losses by fire, theft or flood, the only likely causes of a total loss other then my own death in the car. I cancelled that and probably will be looking around for a new insurance company soon. -Bob