Since this was started on another unrelated thread, I thought I'd set up a thread dedicated to C8 insurance.
Here's my experience:
1. my insurance is a group policy with Security National/Meloche Monnex
2. I was able to get an estimated quote w/o a VIN on a C8 convertible. I didn't mention the 2 LT package with its additional safety features but I did tell them the car would have an enhanced factory security system. I discussed 2 options with my insurer:
----$1,349/year with $1 million PL/PD (liability), $1,000 deductible for both collision + comprehensive, no glass coverage (I declined it), replacement cost coverage included (so if C8 written off in accident, I get a brand new C8 convertible as a replacement rather than the actual cash value of the written off C8) and of course the SEF 44 family protection or uninsured motorist coverage
----$1,437/year with same as above except $250 (lower) deductible for comprehensive. So lowering that one deductible would cost me another $88
3. note: the premium remained unchanged regardless of whether the vehicle cost (including gst) was under or over $100,000
4. once I have a VIN, I can get the actual quote
5. for those like me who plan to park the car for 6 months (around October 31 to April 30) I get a 38% credit and maintain comprehensive coverage (fire, theft, vandalism) on the car while parked
A few tips:
6. best to get all your insurance with one insurer if possible since you'll get a discount for multiple policies
7. I've shopped vehicle insurance before and found cheaper options however I get home insurance from the same place and anywhere else charges me LOTS more for home insurance, so I still do better overall with my current insurer when insuring all vehicles and my home with them
8. I've found it cheaper to pay for my own windshield replacements and windshield replacement businesses usually give you a cheaper price if they know there's no insurance making payment. Or get glass coverage initially then when you've made your first claim, cancel it. Otherwise you pay it all back (and more) in the subsequent premiums. Check it out yourself by asking for quotes
9. When I have a VIN and call back to insure the car, I'll mention not only the security system but also the 2LT trim, to see if the additional safety systems like blind-spot monitoring, reduce my premiums. Or perhaps by then my insurer will have trim levels in its system and different rates for them (?). This is my first Corvette so other Corvette owners should know if the trim level matters
10. consider getting a minimum of $2 million or $3 million liability coverage. People with severe injuries are getting higher awards these days and you want to ensure you're protected. In Alberta, the minimum required vehicle insurance limit is $200,000 but I don't know anyone who gets only that. Most people these days seem to have at least $1 million
11. if your insurer will only provide you with a maximum of $1 million or $2 million liability coverage on your base policy(s), then purchase an "umbrella policy" which covers all your insurance policies (vehicle, home, ATV, etc.) and increases the liability limits on all. So for example, if your base policy for your vehicle is $1 million and that's the most your insurer will give you, then buy a separate "umbrella policy" with additional limits of $2 million, thus giving you total limits of $3 million on your vehicle. That same increased liability limit will also apply to your other insurance policies. As well, it's really beneficial if you're in a serious car accident where your injury claim is worth (for example) $3 million and the at-fault driver only has $1 million in liability limits. You'll collect his/her $1 million and then collect the other $2 million from your own insurance company under the SEF 44 endorsement. So the "umbrella policy" not only gives you added protection by raising your liability limits, but it also raises your own SEF 44 endorsement limits by the same amount so you've got additional personal coverage if you're seriously injured and the "bad guy" who injured you, doesn't have enough insurance to pay your claim. I think my annual premium for the "umbrella policy" is less than $200. Most but not all insurers sell "umbrella policies".
12. the amount of coverage you get, depends upon your personal circumstances and how well you sleep at night, so what I've indicated in these "tips" is simply general advice.
Hope this helps.
