Welcome to the Corvette Forums at the Corvette Action Center!

L81 average value

Joined
Apr 29, 2001
Messages
2,141
Location
Rio Rancho, NM
Corvette
1981 HD Suspension; ZN1 Option
Hey people,

I called Farmer's Insurance today, and for NM I was quoted $153.00 /6-months for liability. $183.00 for un-insured-coverage collision portion added(apparently the un-insured-coverage collision portion is no longer transferable in NM from other vehicles -only the injuries coverage is), and full coverage $266.00 /6-month on top of that. I do have my house and other vehicles with them as well.

So, I wanted to see what kind of quotes I could get with Grundy or Haggerty. They asked what the value of my Vette is, and since I know that it is worth more to me that what they think is worth, then what amount should I use? I suspect that whatever I enter it will affect the totaled-collision coverage. If for example I enter $14k, and they think it was worth $12k, then since I paid for $14k coverage would I get coverage on that amount, or will they use what they think ($12k) is worth?:confused

GerryLP:cool
 

Yoda

Well-known member
Administrator
Joined
Oct 12, 2000
Messages
4,885
Location
Amarillo, TX
Corvette
1981 UL5
:w Gerry,

I can give you the information about what I have on Rare... AND I'm sure there will be PLENTY of people that will chime in with an opinion too ;)

Hagerty Insurance Agency, Inc.
Here are the facts off my Declaration Page (Annual Premium 09/16/2006 ~ 09/16/2007):
Liability @ 55K per accident = $31
Uninsured Motorist BI/PD $55K per accident = $12
Underinsured Motorist BI/PD: INC
Medical $1,000 per person = $5
Personal Injury Protection $2,500 per person = $7

1981 Cheverolet Corvette 2D AGREED VALUE $22K
Other than Collision $0 Deductable = $73
Collision $0 Deductable = $73

Total Annual Policy Premium: $202
Membership Fee: $24 TOTAL Check to Hagerty $226


NOW..... Do I believe Rare is worth $22K :eek Well I had her insured for an Agreed Value of $14K (2005) I asked about our move to Texas, and asked what the Agent what the Collector Value of Rare would be, I sent them photo's exterior, interior and engine compartment, also added a couple of her undercarrige, and they said $22K would be the maximum they would insure her for.... DO I LOOK LIKE A FOOL ;) Of course I increased my Agreed Value it also increased my premium by $34 a year ;LOL

I call Hagerty if I am going on a trip and let them know, and I have NEVER been told to keep the mileage down..

These numbers are directly off my Hagerty Collector Car Declaration Page..

Bud

Oh yea,,, what do I think Rare is worth... I should say pricelss, BUT if someone offered me $18K to $22K I would probably be looking for a '99 or '00 FRC...

NOTE: I should add that I've been with Hagerty since 1998 and the first couple of years it seems to me the premium was around $300 a year or so... IT has gone down since I first Insured Rare with them....
 
Joined
Apr 29, 2001
Messages
2,141
Location
Rio Rancho, NM
Corvette
1981 HD Suspension; ZN1 Option
Bud,

Thanks for the reference. I called them, and it is going to cost me $260 / year for full coverage. $40 dollars will take care of the membership and the 50 mile free towing.

Thanks a lot!:beer Gail is ready for driving!

GerryLP:cool
 

Yoda

Well-known member
Administrator
Joined
Oct 12, 2000
Messages
4,885
Location
Amarillo, TX
Corvette
1981 UL5
Alrighty now :upthumbs

Bud
 

Corvette Forums

Not a member of the Corvette Action Center?  Join now!  It's free!

Help support the Corvette Action Center!

Win Both Corvettes!

Win Both Corvettes and Get Extra Bonus Tickets Now!

Supporting Vendors

Dealers:

MacMulkin Chevrolet - The Second Largest Corvette Dealer in the Country!

Parts/Accessories:

Dead Center Foundation

Vetteskins

Advertise with the Corvette Action Center!

Partners

Top Bottom