Anybody else have National Corvette Museum (American Modern) insurance for their Corvette(s)? I've been trying to change my insurance from Hagerty to NCM and getting all kinds of hassles in applying for their insurance. No problem with Hagerty except crazy high rates. They have been a very good company to deal with so far. Just can't justify the cost with them for cars I only drive from April to October. I googled insurance companies and for equal coverage (supposedly) NCM was well over $300 per year cheaper.

   

DanT

I think Adam Boca still heads-up the NCM Insurance department.  Do you want me to pass your info on to him to see if he can help you get a quote/setup?

-Adam Wartell
NCM Lifetime Member #1222
Founder: C3 Vette Registry 
C4 Vette Registry, C6 Vette Registry

My first Vette, now owned by JB79:

Mr. Boca is still associated with the NCM Insurance outfit (https://www.ncminsurance.com/about-us/).

I've been using Grundy Insurance (a division of Philadelphia Insurance Companies) since we moved to Colorado as my previous insurance company wasn't licensed here.  I looked at several collector car insurance companies and Grundy met my needs for a premium that I was happy with.  The stated value policy premium hasn't changed in the 7 years I've been with them.

Jim Olson 

"The Toys"...!!!  Save the Wave!

Where I've been in a Corvette...!!!

I was able to overcome all the hurdles NCM threw at me during the application process which took 2 days, and I'm now covered by them. I guess all the hassles were worth it since I lowered rate $770/year with Hagerty to $440 a year with NCM for both my Vettes. A couple of items were not up to Hagerty's coverage, like no deductible as opposed to $100 deductible for NCM, and $1000 spare parts at Hagerty with $500 at NCM. Not much difference really for the big difference in price. I assume I could have matched everything at a bit higher price but no big deal.

   

DanT

👍

Jim Olson 

"The Toys"...!!!  Save the Wave!

Where I've been in a Corvette...!!!

Hi Jim, I changed my insurance from hagerty to american modern 2 years ago.  Got it through my regular insurance company.  No hassle just a lot less money.

Both of us being retired now since 2018, our garage babies (78 Corvette Silver Anniversary and 85 Monte Carlo SS) are driven sparingly and only for pleasure.  We switch up which one we additionally take on camping trips so as to enjoy them on our outings.  Occasionally take them out for drives up in the mountains, etc.  Because of this after retirement, it made no sense to keep them insured with our other vehicles under Allstate.  Don't get me wrong, we have no problem with Allstate and have been with them for everything for the past 37 years.  However, the way an insurer such as Allstate, State Farm, etc. determine rates on autos, as explained to us by our current agent of 20+ years, their hands are tied by their underwriters and the metrics they use to price rates.  Even with everything being bundled (house, cars, camper, etc.), good driver discount, and indicated as vehicles for pleasure using their lowest mileage tier, it was still way to steep to justify. In early 2019, I checked into both Hagerty and Grundy and went with Grundy for both of the pleasure vehicles.  We have a 'declared value' policy with no mileage limit and full coverage (same liability, collision and comp limits as with Allstate).  When they were under Allstate, their portion of the annual premium together was still over $1300!  Under Grundy the 1st year, the annual premium was $600.  Same on year 2, $600.  Year 3, with no changes but because we had not filed any claims, it was $350!  And it has remained $350 for the past 2 years.  I was very pleased with the cost savings.  They can do this because they use a complete different profile and set of metrics in their underwriting.  Now there are a few caveats.  They do not want 'daily driver' type of use (going to work, going to grocery stores, etc.).  And in this case, ours for example, since there are two collector cars under the Grundy umbrella and there are two licensed drivers in the household, there MUST be two additional vehicles available beyond the Grundy-insured ones.  Just their rules.  Since we're retired, and we have two additional vehicles, its no issue for us.  So far, its been a great experience.  However, I have no experience at all with their claim process and attitude after a claim having not had a reason to file one, and hope never to have to.  But the reviews I've read are mostly positive so there is that.   By the way, before I chose Grundy, I did get quotes from both them and Hagerty.  Grundy was better on cost but more restrictive, as I noted above.  That wasn't an issue for us so we went with Grundy.  I will say that anyone owning the type of collector-level vehicles that the members of this C3 community own, I would highly recommend looking into collector-car insurers in place of the standard auto insurers.  The annual cost savings can be substantial.   

I have my car with Condon Skelly.  Yes, no one has heard of them but when I had Grundy, my agent got disillusioned with them and move over to Condon Skelly.  $48,000 agreed value for $350 a year.  They never ask me about mileage.

Hagerty $350 a yr on an ‘81.  Been with them for 32 yrs.

grundy for my 81. agreed value is 29k , premium under $300 with plenty of mileage. cant go wrong

NCM on my 2023 is $722 for 1,000 mi and $100,000 stated value.  Since my '73 is currently not driveable, it's just insured at the minimum KS req't.  Hope I never have to use the coverage.

1973 L-82 4 spd

I hope that none of the members of this site ever have to experience the level of customer service of their automobile insurance simply because it means that something bad happened. In reference to proper insurance on your vehicle, the most important thing is that you want to make sure that you have an "Agreed Value" policy and not a "Stated Value" policy.  There is a considerable difference between the two and the event of a total loss and the stated value policy is not in your favor. When comparing costs between insurance companies, you have to compare apps to apples to determine who is actually cheaper. A true, apples to apples comparison. From there you can decide, like the OP did here, that a little bit less coverage is satisfactory to your needs and that brings some cost savings. In my opinion, what should be done is that you will apply the less coverage to both companies and see who provides the bigger discount for the lesser coverage. Another recommendation is that you read the fine print on the policy for each of the companies. As some have stated here they have a mileage restriction. Some policies have a storage restriction. Some policies have other exclusions that may not be to your liking. You definitely want to make sure that you are comfortable with the coverage being provided. Sometimes paying a little bit more has significant benefits in coverage. Sometimes shopping strictly by price brings great disappointment at the time of the loss. That could be either a partial loss or a total loss. With 39+ years as a licensed appraiser, and now strictly catering to classic cars or cars of interest (rather than daily drivers), I can state with a great deal of confidence that it is very important to fully understand your coverage and restrictions at the time that you sign your name to the policy application. Feel free to reach out with any questions, whether it be here in this thread or privately. I'm always happy to help.

I've had American Modern for quite a few yrs now on 3 classics for an agreed value of $115000.00 total for under $700.00 per yr.  But I have them in a alarmed garage with sprinklers & cameras.  I never get to the 3k limit per yr.  Never collected a penny and hope I never have to.