American Modern Ins

[John M.]

Anyone else's American Modern (NCM) insurance premium take jump this year? I'm looking at 14% increase. Three cars, 1K mileage limits, no increase in vehicle values. I realize traditional insurance coverages have increased over the last year, but collector car Ins seemed to be more stable. I switched from Hagerty to NCM last year as there was a substantial savings but starting to wonder if they reeled me in with a cheaper initial rate only to hammer me on renewal. AM sure is more restrictive than Hag, starting to wonder if it's was worth it. Those with Hag, your premium jump this year?

[Gary C.]

John,

All insurance has gone up dramatically, like 30% or more over the last 3 years.

If you're dissatisfied, get other quotes and compare.

Gary
....

[Harry S.]

It depends on the state you live in on how much rates change. How strong is the States Insurance Board to work with insurance companies to control costs. Also, has the accident rate changed in your state?

I live in New Hampshire and my rate for 2025-2026 is essentially the same as 2024-2025.

[Jim D.]

I've been with American Modern through the NCM for many years. The only time my premium has ever changed is when I add/remove a car. The last change was when I added a 2021 four years ago. It has remained the same each year since and I just renewed last month.

[Ray K.]

John,
My NCM American Modern insurance also went up this year on my two classic vettes. Both driven less than 500 miles a year combined.
After I receive my renewal I called them immediately and the agent lowered it by about 50% of the increase.
Might want to give them a call……..
Ray K (#43777)

[Owen L.]

14% seems a jump but not HUGE. I've been with NCM/Am Modern about 5 years. Most years have minimal increases, this year was a little bit higher, up 7%. I'd suspect folks in Florida and California have increases well above the norm due to fire/storm damage losses.

[John M.]

I'm in Minnesota, typically collector car ins has been reasonable as they're stored six months of the year..... Guess I'll have to start driving them in the snow!!

[Pete B.]

I just renewed my two cars, the rates actually went down about 5%
I'm in Arizona so besides blistering heat, we have stable weather.

My cars are in a stand alone garage condo with sprinklers, gate access, alarm and air conditioning.

[Jeffrey S.]

My premium went up 15% this renewal but it is still a great value. I got quotes from "the other" company and it was 50% higher thn what I'm paying with NCM for the exact same coverage.
Jeff

[Thomas H.]

I switched from Hagerty to NCM last year as there was a substantial savings but starting to wonder if they reeled me in with a cheaper initial rate only to hammer me on renewal.

Chances are Hagerty's rates went up an equal amount or more..........

I have 5 cars with NCM having switched from Hagerty a dozen years ago. Rate increases have been minimal over the years and realistically I expect them to go up.

As was suggested, give them a call and ask for the rate increase rational. They may be able work with you on lowering the rate a bit.

Tom

[John F.]

California fires, hurricanes in the Gulf and East coast, flood, all could have an effect in those areas. EVERY state is not the same!

[Curt R.]

I just want to thank John for bringing up the insurance post, My Hagerty premium will expire in one week and was ready to just pay it until I saw the post and figured I should at least get a quote from NCM and they were almost half the price ! on the four cars I have had insured and the savings will pay my NCRS membership dues for many years !

[Mark E.]

Real costs are stable; it's the value of the dollar that's diminished. The "Biden Buck" is worth 30-40% less than 4 years ago. Prices in terms of a stable currency, like gold or Swiss Francs, haven't changed much since the pandemic.

[Donald O.]

Don’t call American Modern, call Adam Boca at the NCM. You’ll get a much much better price.

i had the same experience with a more than doubling the usual premium. I called Adam for a what gives and he told me that he gives me the premium price, not AM.

Don

[Gary B.]

Don’t call American Modern, call Adam Boca at the NCM. You’ll get a much much better price.

i had the same experience with a more than doubling the usual premium. I called Adam for a what gives and he told me that he gives me the premium price, not AM.

Don

Don,

Thanks for this information. It’s very valuable to know how things work with the NCM insurance.

Gary