CAA $1500 Corvette theft insurance surcharge

GM MUSL said:
That is only if I stay with CAA. I am shopping around for a new carrier. If they are all the same adding this new security I have no choice but to get one installed.
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That really does seem very unreasonable because like you mentioned the C8 is number five on the list of least stolen vehicles in Canada. Just a thought but have you checked with TD insurance ? I found them to have the best rates from the several I’ve checked. If you start the application online with them you get an additional discount as opposed to calling them. Might be worth a look. Good luck with it .
 
Mr.Corvette said:
Denis, a lot of insurance companies are unwilling to insure a car over 500 hp now, and a lot of them are surcharging policies to get
insureds to install protection against theft. This reduces risk by increasing the chance of recovery in the event of loss.
CAA is the lowest price insurance company out there, so they must be experiencing high loss rates to implement this requirement.
If one can find another insurance company who is willing to insure this car without the immobilizer, my prediction would be that
the other companies rate will be more than $400 a year in premium.
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I am curious if the 500hp limit also includes EV? Are many normal EVs are rated over 500hp which would make them difficult to insure…
 
CAA said they put this $1,500 surcharge on all vehicles costing $125k and over. NO way I will let any electronics shop play with my car.
They were always the best pricing on all my other cars....but had to use an insurance broker to get anything near acceptable on a car exceeding this price range. We need the manufacturing sector to incorporate this feature into our cars and end this money grab and the hassle of inexperienced people touching our toys.
 
GM MUSL said:
Requires an after-market engine immobilizer that uses a PIN and/or separate key fob and must be installed by approved installer. Cost over $1500 and now my keyless features etc. are gone. Some days I am in and out of the car 20 times and the inconvenience is forced upon me. I live in the country - have the car in a secure garage that has alarm monitoring - I almost never go to big cities but I have to pay even though Corvettes are among the lowest theft numbers according to the latest info. I can find. I also don't want some hack cutting into my wiring. If I could do it myself and get the full discount - I would consider it.
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My 2015 Z cost $700/year, my new Torch Red C8 is just under $800. Full coverage, $1000 deductible, no accidents, no tickets, Northbridge insurance through Dalton Timmis insurance. They were the cheapest for my Harleys and all my Corvettes. I also have my F150, my Wife's Honda Pilot and my house insured with them. Only claim we've had in the last few years was when a deer jumped out in front of my wife's car causing almost $10,000 damage. Considered no fault but repaired quickly and efficiently. Super easy to deal with. Everything done by phone including rental car during repairs. Highly recommend them.
BTW, just got my new policy that commences May 29th. Rate is $765.00 for 2025 until May 2026.
 
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Mr.Corvette said:
Denis, a lot of insurance companies are unwilling to insure a car over 500 hp now, and a lot of them are surcharging policies to get
insureds to install protection against theft. This reduces risk by increasing the chance of recovery in the event of loss.
CAA is the lowest price insurance company out there, so they must be experiencing high loss rates to implement this requirement.
If one can find another insurance company who is willing to insure this car without the immobilizer, my prediction would be that
the other companies rate will be more than $400 a year in premium.
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It’s 495 hp
 
GM MUSL said:
I just got notice that CAA is charging me a $1500 theft insurance surcharge on renewal. They claim it us due to high theft rates on this car. I find the last reported information from Canada indicates Corvettes are in the lowest theft category. They will not charge it if I install a device - I don't want or need , at my cost. I don't plan on keeping my cars too long.
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Hello, I won't see my CAA policy until December.

This is for you Z06 correct. Not the regular C8 Stingray.
 
1st Vette said:
That really does seem very unreasonable because like you mentioned the C8 is number five on the list of least stolen vehicles in Canada. Just a thought but have you checked with TD insurance ? I found them to have the best rates from the several I’ve checked. If you start the application online with them you get an additional discount as opposed to calling them. Might be worth a look. Good luck with it .
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When you apply online with TD NWT, the C8 Insurance Rate Loss Comparables are Dog Sleds....
 
Well sure ! But who wouldn’t want some of these beauties ?
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