Insurance Recommendations, 1960

[Norbert R.]

Hello everyone, I've noticed multiple insurance companys in the NCRS Driveline, I'd like to look for a new insurance coverage for my 60?
I currently have St. Farm. Could / would someone express their ideas, approvals or disapprovals of listed insurances for our vettes?
thanks, Happy Holidays,

[John F.]

Re: Insurance Recommendations, 1960

Norbert, Check with your agent there to see if your policy is "Agreed Value" or "Stated Value". Ask him/her all the questions. State Farm only offers the "Stated Value" in Texas and I am satisfied with it. Apples to apples, Hagerty is a little more expensive, but there policy is "Agreed Value".

[Alexander C.]

Re: Insurance Recommendations, 1960

I had State Farm for the first week, then went to Grundy and realized how bad SF was totally ripping me off

When I bought my '56 back in July/August I called ALL insurance companies that were recommended on the forums. Grundy had the best price for the coverages offered and were the most relaxed when it comes to actually driving my car.

[Chuck S.]

Re: Insurance Recommendations, 1960

You might check out Allstate.

When I did the sharp pencil calcs on purchasing my new (at the time) 2006, the quotes I got from my Allstate agent were cheap as or cheaper than specialty insurers. I only checked with him to confirm that conventional insurers would be more expensive, and ended up being pleasantly surprised.

It's true it was a new (at the time) car, but insurance for it should have cost MORE than a classic Corvette. No doubt, the fact that we had been insured by Allstate, both homeowner and multiple auto insurance, for many years with a good no claim/no violations record helped me in the getting the rate.

As mentioned before, be sure that you and the agent have an understanding on the value of the car and how much you will be paid for a total loss. My experience was you told them how much you wanted to be insured for and they charged you accordingly (agreed value?).

Allstate also allows you to suspend all coverage except comprehensive during off season driving periods with an email to your agent. For example, if you live in cold country and will store your Corvette for the winter. To minimize insurance cost, I'm presently trying this for the hottest and coldest convertible driving seasons in Texas; i.e June-August and December-February. My convertible is now sleeping until March.

[Rick A.]

Re: Insurance Recommendations, 1960

check with Andy at the NCM - great coverage and you support the museum!

[Jim D.]

Re: Insurance Recommendations, 1960

Stated value policies are useless. If you have a large loss, you'll find that you made a major mistake. Get an agreed value policy. There are many that offer it. I have 2 Corvettes and a Cobra with Midwest Classic Insurance. Nobody came close to matching their quotes and those that have them and have had claims, rave about the customer service.

[Don H.]

Re: Insurance Recommendations, 1960

I have been with Hagerty for many years and am very satisfied. Although I have never had a claim (a good thing), all other experience's that I have heard are positive. Shop around, Don H.

[Gary B.]

Re: Insurance Recommendations, 1960

check with Andy at the NCM - great coverage and you support the museum!

http://www.ncminsurance.org/

Actually it is Adam.

I have heard a lot of people are very happy.

[Jim T.]

Re: Insurance Recommendations, 1960

http://www.ncminsurance.org/

Actually it is Adam.

I have heard a lot of people are very happy.

Wonder why one of the application requirements is that your daily driver cars are limited to not being 15 or more years old?

[Greg W.]

Re: Insurance Recommendations, 1960

I have got quotes from many and it seems like you always get the best price from the company that has your home owners. They always give multiple discounts. I also like to be able to call one company, there is no way that they can say that your home owners should cover that or your car insurance company should cover that. You just call and say take care of it.

[John H.]

Re: Insurance Recommendations, 1960

What matters is whether you have "agreed value" coverage on your classic or not; most "regular" insurance companies don't offer it, and if you don't have it, you're seriously under-insured in the event of a total loss. Nothing is more useless than a "stated value" policy - it's no different than the standard auto policy on your daily drivers.

[Randy G.]

Re: Insurance Recommendations, 1960

I have Grundy on my '54 and '57. The '57 is a Top Flight car. What happens if someone takes out the left front of my '57? Does the insurance company send me to Collision Masters for a repair estimate for a settlemet amount based on bondo and Bubba's best shot at fiberglass repairs, or will they let me find a shop who will repair it with correct parts, bonding strips, laquer paint, etc., to put it back in orginal condition since that's why my car is worth more?

[Glenn D.]

Re: Insurance Recommendations, 1960

Hagerty. I have never had a claim , but they seemed very professional when I talked to them. As others have said ,agreed value is very important.

[Rick A.]

Re: Insurance Recommendations, 1960

http://www.ncminsurance.org/

Actually it is Adam.

I have heard a lot of people are very happy.

Gary, thanks for the correctioin! Not sure where "andy" came from!

[Chuck G.]

Re: Insurance Recommendations, 1960

FWIW, I had been with Hagerty for many years. Never had a claim. Had my 63 and 69 Corvettes and my 56 Chevy with them.

This year, at renewal time, I switched to the NCM policy. Dealt with Adam Boca at the museum. Exact same coverage, saved about $200. per year.

Chuck