Insurance on C3

[Glen C.]

I'm looking at a couple of LT1's and took the time to call my regular agent to inquire about insurance for weekend use. I just about had a heart attack with the quote. At 53 with no accidents and no tickets I'm getting quotes of $1400. My C4 was around $300. What are some good sources of collector car insurance?

Thanks,

Glen

[Rich G.]

Re: Insurance on C3

You will find many good suggestions here. I have used American Collectors in NJ for about ten years. I have a 66 small block vert and a 68 BB coupe and the total is about 600 per year. I have not had any claims, so I can't tell you how they are in that area. Both cars have an agreed value in the mid forties.

I have a 5000 mile annual limit. It would cost less for 2500 limit. I never get close to 2500 let alone 5000, but if I ever want to take a long ride, I don't have to worry

Try searching "insurance"

Rich

[Alan S.]

Re: Insurance on C3

Hi Glen,
LT-! NICE!!!!
There are quite a few sources for insurance for our Corvettes.
One of the most important things is to understand the amount of coverage you're buying. This is usually called 'agreed value'. This is a $ amount you'll receive if the car is lost.
If you do a search, there have been many threads about insurance.
I've had my 71 insured with J.Taylor for many years. The premium depends of the amount of the agreed value. This year I'm paying $237.00 for an agreed value of $28,500.
Regards,
Alan

[Phil D.]

Re: Insurance on C3

Haggerty, Grundy, JC Taylor, American Collectors are ones I've seen recommended. Look for "agreed value" policies. All collector insurance seems to have restrictions on how you can use your car tho. "Weekend use" may be too broad for collector insurance. Most require that you never leave the car unattended in a parking lot, for instance you can't drive it to go shopping at the mall. They will tolerate a weekend pleasure drive but an accident during rush hour in the rain would probably not be covered no matter how convincing you were in your story about "but I was only driving it to a shop for repairs". I have a 68 Mustang coupe as a 2nd car on regular insurance tho which allows me to drive it any time I want and park it anywhere and it is less than $200/year with Amica so I'm guessing you ought to shop around for some new regular insurance as well.

[Chuck S.]

Re: Insurance on C3

Sounds about right.

There are specialty insurance companies that prefer collector and specialty cars. It's their niche...they know that business and insure for lower premiums. Just recently there was a thread on "stated value" vs "agreed value" vs "guaranteed value". What the company pays for total loss is very important to collector car owners, less so for late model cars.

However...the specialty companies are not so cheap on late model Corvettes. When I recently believed Allstate was about to bump the premium on my C6 to $674 annually from $576, I got a quote from Hagerty for grins...$1104/year. Turned out Allstate had removed a couple of discounts caused by temporary suspension of coverage.

[Paul J.]

Re: Insurance on C3

Glen;

If you search the archives you will find more information on this than you can read, hundreds of threads, including some from last week. I guess you missed them. Here are a few:

https://www.forums.ncrs.org/showthre...rance&uid=7511

https://www.forums.ncrs.org/showthre...+Farm&uid=5360

https://www.forums.ncrs.org/showthre...rance&uid=2130

There are many, many more.

Paul

[Kenneth H.]

Re: Insurance on C3

Glen,

I have a '70 LT1 convertible insured through Grundy. I pay about $490/year, with an agreed value of $72k. It was $70k two years ago but they bumped it to $72k last July.

They have no problem if I occasionally drive it to work (as a matter of fact they encourage it) and there are no mileage restrictions. They do require that the car be stored indoors. The only drawback that I see compared to Haggerty is that they don't have an 800 number for towing. With Grundy you arrange for your own towing and they reimburse after the fact. I'm not sure how they are with claims since I haven't had any, but other recent threads here have addressed that issue.

Thanks.

[Steve M.]

Re: Insurance on C3

I just purchased a 1967 Corvette conv last Haloween, I tried all of the others, found my local State Farm Ins. quoted me $100.00 for 6 months, I stated the value of the car at $47,000.00 with only few summer miles driven, such as parades and car shows, I called them back twice, the price was and is correct, so shop around, Hagerty and others were $475.00 every 6 months, but it all depends on the value of your insurance, if you like I will give you my agents phone number, it is in Indy, but I am sure there are State Farms everywhere.

Steve

[Jeff P.]

Re: Insurance on C3

don't forget that insurance rates do vary not only from state to state but also whether you live within city limits, suburbs, or "rural" communities. Also not every insurance company is allowed by law to write in every state unless licensed. Other variables will include your and your significant others driving record whether or not children even live in the same residence...I just went thru all of this finding collector car coverage for my C4.....I had the best luck with an "agreed value" policy with JC Taylor...according to the agent that was the company that started all the specialty insurance. Do your homework and most importantly compare "apples to apples"...good luck!

[Phil D.]

Re: Insurance on C3

I just went thru all of this finding collector car coverage for my C4.....I had the best luck with an "agreed value" policy with JC Taylor...according to the agent that was the company that started all the specialty insurance.

I liked JC Taylor originally because they insured "modified vehicles" that no one else would touch. I had significant money sunk into a Toyota that I autocrossed and they were happy to write me an agreed value policy based on my handwritten list of aftermarket parts and costs. I naturally had them insure my bone-stock 69 Corvette too. Hope I never have to find out how good they are in a claim.

[John H.]

Re: Insurance on C3

Glen -

Your "regular agent" is the LAST person you want to talk to about insuring your Corvette; they know virtually nothing about collector car insurance, and will probably sell you a "stated value" policy that costs more than your daily driver policy and provides even less coverage.

You need an "Agreed Value" policy - talk to Hagerty, Grundy, J.C. Taylor, or one of the other specialist companies that write "agreed value" policies.

[Patrick H.]

Re: Insurance on C3

I'm looking at a couple of LT1's and took the time to call my regular agent to inquire about insurance for weekend use. I just about had a heart attack with the quote. At 53 with no accidents and no tickets I'm getting quotes of $1400. My C4 was around $300. What are some good sources of collector car insurance?

Thanks,

Glen

My two C3's (71, 72) plus my 70 Cutlass convertible are just over $500/year from Hagerty for about $60k total value, zero deductible. I made specific written notations that the Cutlass is driven to work on occasion in the summer and they were fine with that.

[Rich G.]

Re: Insurance on C3

I have 4 cars with American Collectors and my 72 with 30K coverage cost me $194. a year. My hot rod 51 pick-up is almost $400 for the same coverage. They don't like modified stuff!

[Richard M.]

Re: Insurance on C3

Call the NCM, I have all 4 of my corvettes insured by them plus my wife's 92' Cutlass convert. all 5 for less than $900 per year.

[Glen C.]

Re: Insurance on C3

Thanks for all the advice. I'm going to call several of these recommended companies tomorrow and get some quotes.

Glen