Trouble Insuring My Corvette - Lateral-g Forums

Ssamara · #1 03-25-2009, 02:09 PM

They will only give me market value for the car, not what it's actually worth.

Derek69SS · #2 03-25-2009, 04:41 PM

Make sure you get an "Agreed value" policy, NOT "stated value"

I was able to insure my Chevelle when I was under 25, but no insurance company wanted to insure my Model T (seriously, my 20hp 40mph top-speed Model T is the one I couldn't get insurance on

). The "regular" insurers said I needed collector insurance, and the collector insurers said they couldn't insure someone under 25.

GM Muscle · #3 03-25-2009, 07:35 PM

i did agreed value. make sure your actually telling them what the car is worth and not what you think its worth

ProdigyCustoms · #4 03-25-2009, 08:36 PM

We have had this problem for a few years with Michael and Project Prodigy and all our other family hot Rods. I have to insure Prodigy in my name until he is 25 Y/O. Geico (regular insurance) will only cover it for book value of $4200, needless to say we cover it for a couple more dollars then Geico's book value!

Michael is insured to drive all our regular cars and trucks on our standard Geico policy. According to our classic car insurance on our Hot Rods, he is not supposed to drive any of our Hot Rods under that insurance policy. In fact he had to sign a drive waiver saying he COULD NOT drive the cars because he still lives in the house.

HOWEVER, there is a interesting angle here. Michael IS covered to drive anything in the shop under our shop insurance. Any car, customer car, truck / trailers, whatever. so..............................

I did however just hear something about Grundy taking 21 Y/Os, so in a few months when Prodigy is up for renewal, maybe Michael can insure it with Grundy

redfire69 · #5 03-26-2009, 02:27 AM

In my experience with the non-specialty insurance companys, you've got to have a daily driver in order to put the higher agreed value "antique" insurance on that vette. Not sure about the under 25, but I don't doubt you'd have problems.... Best of luck-

GM Muscle · #6 03-26-2009, 09:57 AM

that may be the case because my camaro isnt my primary on my policy.. just get a pile of crap honda for a couple hundred and make it your primary driver.. make the vet a secondary...

Ssamara · #7 03-26-2009, 12:32 PM

Quote:

Originally Posted by GM Muscle

that may be the case because my camaro isnt my primary on my policy.. just get a pile of crap honda for a couple hundred and make it your primary driver.. make the vet a secondary...

I have a 99 camaro ss I drive daily I don't know what their problem it’s really annoying. To be honest.

jy211 · #8 03-26-2009, 12:54 PM

Quote:

Originally Posted by Ssamara

They will only give me market value for the car, not what it's actually worth.

Have it appraised and get a agreed value policy.

GM Muscle · #9 03-26-2009, 03:10 PM

i have state farm and i want to say mine is a declared value policy

BRETT ANDERSON · #10 04-08-2009, 09:44 PM

When I was 21 I had a 10 second street car with a cage. Yes my driving record was clean. I went through Condon and Skelly and it was $324 a year with full coverage and at $25000 value. I was a poor college kid at the time, but the price seemed to be very resonable. It did have a 2500 mile per year limit. Hope that helps.