Insurance costs

[Corvette_Diva]

As some of you may have seen in my other thread, I'm 20 and getting ready to move out hopefully next year with my '96 vette as my only car.

Aside from the snow and ice and salt, my other concern is the cost of insurance. Right now, my parents are paying for it and I know that its got full coverage. Just the vette alone is twice the amount we pay for limited coverage (I think just liability) on a '96 taurus and '98 blazer.

I'm wondering, what are your guys' ages and how much do you pay for insurance for your C4? Are there any tricks or companies I should know about that can minimalize my costs? I've been driving since 16 and my record is absolutely spotless. I have no traffic citations, no accidents, nothing. I'll also be going to school to continue my biology degree and my current gpa is above a 3.0.

It just sucks that there are so many irresponsible drivers my age...It jacks my insurance way up when I really don't deserve it

 

[Z07coupe]

Diva, I just paid State Farm $166.29 for 6 months. Here's the rest of the story:
92 Corvette Coupe, Principal driver is 62, No unmarried drivers under the age of 25 are assigned to the car. But my 32 year old sons are insusred when they drive it. Insured for under 7500 miles per year. 100,000/300,000, $500 deductable.My discounts are: multicar, air bag, accidenet free, and I insure my home with SF also.

When we moved to WI, if I remember right, the insurance rate declined, but everything else was more expensive than Kansas City. Originating from southern CA, everything may seem like a bargin to you.

Are you sure this guy is worth it? (Haha, Just kidding)

 

[Corvette_Diva]

Oh that isn't so bad XD Although I suppose I should expect it to be a bit higher since I'm 20.

I'm sure everything will definitely seem cheap to me for a while lol. My boyfriend is always talking about how expensive CA is, and I live in an extremely affordable area! Its not like San Francisco where the cost of living will really bite ya in the butt.

 

[vetteboy86]

I believe insurance for a female is consistently lower than a male with the same credentials. Maybe has something to do with testosterone.

How old is your bf? Would it be acceptable to to get an insurance policy with him?You may get a discount for having more than one automobile.

Your best bet would be to start calling now and getting quotes.

 

[Corvette_Diva]

I believe you are correct Gotta love the perks for being female sometimes ^_^ Somebody else in my other thread is 22 and paying $450 every 6 months full coverage on the vette with a second car under the same policy. Thats far more reasonable than I was expecting. I'm glad I don't have a C5 or C6 because I'm sure it would be much more.

Daniel (the bf) is going to be turning 20 the summer I'll likely be moving out there. He too is still living at home and his parents are have him insured to drive their van and station wagon. So I'm not sure how possible it is that we can get a policy together, or if that will do good things or bad things for the cost lol.

I'm really pretty clueless when it comes to insurance policies and such. What sort of information would I need to get a quote?

 

[vett boy]

I haven't been twenty for over seventy years now but I'd start checking on line .That should give you some idea as to the cost.

 

[GS Diva]

Diva,

I'm another "Diva"! The only way you're going to get a comparable answer to your insurance cost is to hear from owners in California. Every state is different. I would put your question in the regional area for California and see what answers you get.

Let us know how you make out.

Elaine

 

[Corvette_Diva]

Hi Diva!

Thanks for the reply. When I have to pay for my own insurance, I'll be living in Wisconsin, not California. I checked out the midwest area board, but it doesn't seem to get much activity.

I did get one of those "quick quotes" from I think Statefarm where it just took into account age, car, and accident history and it came up to be about $2k a year minimum coverave 0.o But my real quote would have to be less if we took in discounts, which I should be able to get a few of. Maybe getting a beater car would actually make driving the vette more affordable...As much as that does NOT make sense. You'd think having to insure two cars would be MORE expensive, not less!

I went ahead and emailed an agent in my area since the quote form is wanting to assume I want to switch to State Farm NOW and won't take into consideration that I'll be living in Wisconsin lol. We'll see what he can get for me given the information I was able to provide.

 

[vett boy]

If your parents have you covered under their State Farm then the State Farm agent in Wisconsin should be able to help .Our business uses State Farm in three states for auto insurance .

 

[GS Diva]

I didn't mention that I don't advise using a Corvette as a daily driver in Wisconsin or any other snow state. I live in the Boston area, and don't know anyone who drives their Corvette in the winter. It would be much better to buy a beater for the snow/ice/salt winters.

Elaine

 

[vetteboy86]

Hi Diva!

Thanks for the reply. When I have to pay for my own insurance, I'll be living in Wisconsin, not California. I checked out the midwest area board, but it doesn't seem to get much activity.

I did get one of those "quick quotes" from I think Statefarm where it just took into account age, car, and accident history and it came up to be about $2k a year minimum coverave 0.o But my real quote would have to be less if we took in discounts, which I should be able to get a few of. Maybe getting a beater car would actually make driving the vette more affordable...As much as that does NOT make sense. You'd think having to insure two cars would be MORE expensive, not less!

I went ahead and emailed an agent in my area since the quote form is wanting to assume I want to switch to State Farm NOW and won't take into consideration that I'll be living in Wisconsin lol. We'll see what he can get for me given the information I was able to provide.

Why not check with the insurance agency that your b/f's parents are with. The more options the better. Speaking to someone as well may be a benefit. I'm sure if you have a B.S. degree that may apply as a discount. I wouldn't be surprised to see 800-1k a year. Shop it though, and when you call back, drop the competitor's quote a hundred bucks and pitch it to the company you are talking to at the moment.

 

[CharlesBrown]

There's no such thing as a bad policy...only bad rates. Think about it!

 

[vertrx7]

To obtain insurance quotes, go with someone you know or someone that knows someone, a reference in other words. Your parents' insurance agent is a start, this has already been suggested, above. You could also try some of the companies you see advertise on line...Progressive, Geico, etc.

Furthermore, if you get a garage and put the Corvette into it for the winter, you might even qualify for one of the specialty, classic car, collector car insurance companies, Hagerty, Heacock, Snead, etc, but I'm not sure if they have an age minimum. You might have to be 21. In any case, the specialty or collector car rates, if you meet their restrictions, are very very low. Call them or go on line and see what the requirements are.

If your parents had military experience at any time and were honorably discharged, you would qualify for USAA insurance. Another very highly rated insurance company. They even give its members cash back at the end of each year in their subscriber savings account. Makes our Christmas every year!

In any case, you would need to be advised on the minimums that Wisconsin or any state requires as far as insurance. This would include comprehensive, collision, uninsured motorist, deductibles, etc. Is Wisconsin a "no fault" state? Then go from there as to how highly you value your car or how much you want to pay in your annual, biannual or monthly insurance statements. No one else will be able to tell you what you need and what it will cost due to the variables. Therefore, the only person you should be contacting is an expert who has the answers you need, everything else is guesswork or hearsay because we aren't talking about anyone else's experience, accidents, age, car type, marital status but yours. Contact a qualified insurance agent of your choice from one of the national companies in the state you want to live in. Allstate, State Farm, etc., come to mind as well.

Ralf

 

[air1jpg]

You should get a beater vehicle that is either 4wd or front wheel drive and list your Corvette as a casual with your insurance company to get a better rate. I pay about $50/month, but I am 39. Living in a snow state, you could also put your coverage on your vette on compressive only during the winter months to lower your yearly insurance expense. Trust me, you don't want to drive your vette in the snow, it is not worth taking a chance in damaging your vette! That is what the beater is for!

 

[CorvetteArchives]

Maybe getting a beater car would actually make driving the vette more affordable...As much as that does NOT make sense. You'd think having to insure two cars would be MORE expensive, not less! .

Actually it makes PERFECT sense of you think about it. The insurance company is MOSTLY concerned with WHICH car you are DRIVING and to an extent where/how its stored when NOT driving it. They figure you are then more likely to have an accident in the car you drive more frequently. As Vette drivers we KNOW that a Vette IS safer when driven reasonably as its more responive and power CAN help you avoid an accident but of course insurance companies stick to "profiling".

You may lie and claim the beater as your primary car and the Vette as occasional but REALLY drive the VETTE as a Primary but in many states you'll get caught if you're not careful. Most insurance companies are quite specific regarding including asking you the milage every time your policy is renewed. This seems to a policy holder to be an HONOR system but they can easily check with the Inspection records (if applicable) or any service records. If you are involved in an accident they WILL look closely for ANY excuse to deny the claim.

Good luck and realise with a continuing good record those rates will drop year after year!

 

[92BlackVette]

When I added my 20 year old GF to my policy, (I have a 76 & 92 Vette) my policy dropped like $50 a month. I ended up buying her a Kia Sportage 4x4 because she complained she couldn't see above the steering wheel on the 76 vette. There all in my name, I am not that generous.

 

[vette_75]

To obtain insurance quotes, go with someone you know or someone that knows someone, a reference in other words. Your parents' insurance agent is a start, this has already been suggested, above. You could also try some of the companies you see advertise on line...Progressive, Geico, etc.

Furthermore, if you get a garage and put the Corvette into it for the winter, you might even qualify for one of the specialty, classic car, collector car insurance companies, Hagerty, Heacock, Snead, etc, but I'm not sure if they have an age minimum. You might have to be 21. In any case, the specialty or collector car rates, if you meet their restrictions, are very very low. Call them or go on line and see what the requirements are.

If your parents had military experience at any time and were honorably discharged, you would qualify for USAA insurance. Another very highly rated insurance company. They even give its members cash back at the end of each year in their subscriber savings account. Makes our Christmas every year!

In any case, you would need to be advised on the minimums that Wisconsin or any state requires as far as insurance. This would include comprehensive, collision, uninsured motorist, deductibles, etc. Is Wisconsin a "no fault" state? Then go from there as to how highly you value your car or how much you want to pay in your annual, biannual or monthly insurance statements. No one else will be able to tell you what you need and what it will cost due to the variables. Therefore, the only person you should be contacting is an expert who has the answers you need, everything else is guesswork or hearsay because we aren't talking about anyone else's experience, accidents, age, car type, marital status but yours. Contact a qualified insurance agent of your choice from one of the national companies in the state you want to live in. Allstate, State Farm, etc., come to mind as well.

Ralf

I have my C3 insured with Grundy - one of the specialty, classic car insurers. Premiums are $200 annually but with some pretty heavy restrictions... no drivers under 25, 2,500 mile per year limit, car cannot be used as daily transportation (you have to provide proof of ownership for daily vehicle). I'm in Georgia but location did not seem to play much in the premium calculation. Good luck.

 

[rew4946]

We have four vehicles two with full coverage and two with just libility, One is a 2004 ford freestar van $49.00 six months and the 1984 C4 corvette $56.00 six months[/U][/B],otal for six months all cars $519.00 six months hint, the little green lizard company

 

[So Bay Vetter]

Cheapest first shot would be to pay your parents monthly to stay on their insurance. Second would be to get the beater and insure the Vette for 5,000 mi./year or less (they will ask for milage yearly). Diva is right, however, a C4 as a daily driver is a crap shoot even in the best of climates. Especially if it's not garaged.

 

[boomdriver]

I recall my first vette back in 1988....I wanted the car so bad that I never researched the insurance cost.
I ended up with a monthly payment back then of $820, and the ins was something like $1100 down and an additional $150 a month for 5 months of the 6 month policy.
After digging a pretty deep hole for myself with that one, next time I got it covered as an RV (yes, for real) since I had a 2nd car that was also covered and cut the cost in half or more. But, No driving it to work, weekdays during normal business hrs, and milege was restricted per month.