Eray sky high insurance rates?!?!

Red chilli said:
Yes Denis you’re right they won’t insure daily drivers but if you have another car insured then that other car is your daily driver and the vette is your so called weekend cruiser
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it seems very restrictive, even if I have a daily driver so if something happens they will have many excuses to deny the claim.

Usage and Kilometres
Our program policy allows the collector vehicle to be used for club functions, exhibitions, organized meets, tours and leisure use, including occasional pleasure driving — it just can't be a daily driver. Usage of 8,000 kilometres or less is generally consistent with operating vehicles that have collectible value.
Usage and kilometres requirements may differ based on the vehicle that is being insured, such as collector trucks or vehicles that are 1980 and newer. Please review specific vehicle guidelines for this information.

Storage
Though we prefer that collector vehicles are stored in an enclosed, secure structure when not in use — such as a private garage, pole barn, car condo or storage unit — we will consider other storage types, including*:
  • Carports
  • Driveways
  • Parking garages
  • Car hauling trailers

  • Driver Eligibility

  • Applicants and household drivers must have 10 or more years of driving experience.
  • All household driving records and prior claims are subject to underwriter review.


  • Vehicles That May Not Qualify
Because we provide low-cost, agreed value coverage, we are not able to provide coverage for certain vehicles due to how they are used and the increased risk associated. Examples of vehicles not eligible include:
  • Daily-use vehicles
  • High performance vehicles with a top speed of 300 kph and the operator(s) does not have experience driving a similar vehicle for at least three years or has less than 25 years driving experience in Canada or the United States
  • Vehicles with 700 hp or greater (manufactured or modified)
Please Note: Hagerty differs from standard insurance in that we don't have a price for every type of risk. We determine eligibility based upon the accumulation of all risk characteristics related to our program guidelines.

Daily Use Vehicles​

  • All household members with a valid driver’s licence must have a vehicle to drive on a daily basis
  • It is preferable that the daily use vehicle is reliable
  • Motorcycles and public transportation are not considered viable daily use vehicles by our program
  • Applicants must also maintain daily use insurance in their own names
 
PapaSmurf said:
Many insurance company's are refusing to insure cars with over 500HP these days and others that do are charging more and asking for higher deductibles.
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Hmm so GM did all of us a big favour by rating the Stingray at 495hp instead of 500. I wonder if it’s the same insurance issue in the US?

It seems that most mustangs, challengers and Camaros don’t cross the 500hp rating until you go for top of the line engines with forced induction at which point they are over the 500hp mark by more than 100hp
 
DenisC8 said:
Hmm so GM did all of us a big favour by rating the Stingray at 495hp instead of 500.
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I wondered about that myself. What is the average RWHP on the Stingray? That should give us an indication on the actual HP the motor makes. I'm curious. HP used to be such an ambiguous and fudged number. Perhaps the motor does make a little more than 500, but they quote it at less for a reason.
 
Murray20c8 said:
I wondered about that myself. What is the average RWHP on the Stingray? That should give us an indication on the actual HP the motor makes. I'm curious. HP used to be such an ambiguous and fudged number. Perhaps the motor does make a little more than 500, but they quote it at less for a reason.
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From what I have seen, Stingrays dyno at 440-460hp at the rear wheels
 
Murray20c8 said:
I wondered about that myself. What is the average RWHP on the Stingray? That should give us an indication on the actual HP the motor makes. I'm curious. HP used to be such an ambiguous and fudged number. Perhaps the motor does make a little more than 500, but they quote it at less for a reason.
Click to expand...
The average rear-wheel horsepower (RWHP) for a stock C8 Corvette Stingray is typically between 430 and 440 horsepower. This range accounts for variations due to factors such as engine coolant temperatures, oil temperatures, ambient air conditions, and air intake temperatures.It's important to note that these figures represent the power measured at the wheels, which is lower than the engine's rated horsepower due to drivetrain losses. The factory-rated output for the C8 Stingray's 6.2-liter V8 engine is 495 horsepower at the crankshaft when equipped with the performance exhaust.Some dyno tests have shown even higher numbers, with one report suggesting up to 656 horsepower at the crankshaft when accounting for an estimated 15% drivetrain loss. However, this appears to be an outlier and not representative of the average stock C8 Stingray.Modifications can significantly increase the RWHP. For example, one owner reported achieving 453.53 RWHP after installing various performance upgrades such as a cold air intake, performance manifold, and high-flow catalytic converters.
 
Vettenut said:
Not sure who your provider is ... but that sounds way too high and if your paying half of that for the C8 thats also too high .

Im a few years younger than that and pay 608 per year with all coverages etc etc with CAA and I live in Etobicoke

Try CAA they are very friendly to the type of driver you described ... if you want to save even more go for the insurance company plug in creeper option where they monitor your driving ... but I wouldnt recommend that

Good luck !;)
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Well I called up CAA and they were $3300!! Weird.
 
DenisC8 said:
it seems very restrictive, even if I have a daily driver so if something happens they will have many excuses to deny the claim.

Usage and Kilometres
Our program policy allows the collector vehicle to be used for club functions, exhibitions, organized meets, tours and leisure use, including occasional pleasure driving — it just can't be a daily driver. Usage of 8,000 kilometres or less is generally consistent with operating vehicles that have collectible value.
Usage and kilometres requirements may differ based on the vehicle that is being insured, such as collector trucks or vehicles that are 1980 and newer. Please review specific vehicle guidelines for this information.

Storage
Though we prefer that collector vehicles are stored in an enclosed, secure structure when not in use — such as a private garage, pole barn, car condo or storage unit — we will consider other storage types, including*:
  • Carports
  • Driveways
  • Parking garages
  • Car hauling trailers

  • Driver Eligibility

  • Applicants and household drivers must have 10 or more years of driving experience.
  • All household driving records and prior claims are subject to underwriter review.


  • Vehicles That May Not Qualify
Because we provide low-cost, agreed value coverage, we are not able to provide coverage for certain vehicles due to how they are used and the increased risk associated. Examples of vehicles not eligible include:
  • Daily-use vehicles
  • High performance vehicles with a top speed of 300 kph and the operator(s) does not have experience driving a similar vehicle for at least three years or has less than 25 years driving experience in Canada or the United States
  • Vehicles with 700 hp or greater (manufactured or modified)
Please Note: Hagerty differs from standard insurance in that we don't have a price for every type of risk. We determine eligibility based upon the accumulation of all risk characteristics related to our program guidelines.

Daily Use Vehicles​

  • All household members with a valid driver’s licence must have a vehicle to drive on a daily basis
  • It is preferable that the daily use vehicle is reliable
  • Motorcycles and public transportation are not considered viable daily use vehicles by our program
  • Applicants must also maintain daily use insurance in their own names
Click to expand...
check post #30 in the below thread, I had already inquired with Hagerty years ago about insuring my C7 ZR1 and with their restrictions and stupid premiums to get an agreed value they are of no use to me.

canadiancorvetteforums.com

OBD Port Lock

I agree with 90% of the previous comments regarding key fob access when stored in your house. This is not a new issue and if you are like most people you store your key(s) on a hook or on the floor near your front door. There is a cheap, simple way to protect your fob from prying rays, that...
canadiancorvetteforums.com canadiancorvetteforums.com
 
Well, I am paying 3400$ a year for my CT4-V Blackwing. I am 35 and divorced and do have a 5 point speeding ticket on my record tho lol. I am wonder how much will I pay for my Z06 when it gets here......
 
Intact quoted me $2800 on a new Z06 vs $1800 currently for my C7 Z06. Same reasoning as others mentioned, high value car and not a lot of data.

And while YMMV, I’ve unfortunately had (no fault) claims with them on vettes and my family car, and they’ve been spectacular on service. While I’d like to keep using them, please keep us posted if you find a much better quote on your eray so I know who to call.
 
lammarwell said:
Hi Guys

I have an Eray in production (3400 status currently) I up just got off the phone with my insurance broker. I am a 52 year old male, married, reside in Guelph, Ontario, no tickets, no accidents, multi car discount etc. and I was quoted $3400 for the year, over twice what my current C8 is.
Is anyone else seeing this as well?
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It is because it has a battery pack : fires & replacement if car in serious accident. My guess? I was offered an E-Ray last week: on display - beautiful car, but declined because having a Pro Charger SC installed - $35K hit and won't get value for it on trade- in probably?
 
Vettenut said:
Not sure who your provider is ... but that sounds way too high and if your paying half of that for the C8 thats also too high .

Im a few years younger than that and pay 608 per year with all coverages etc etc with CAA and I live in Etobicoke

Try CAA they are very friendly to the type of driver you described ... if you want to save even more go for the insurance company plug in creeper option where they monitor your driving ... but I wouldnt recommend that

Good luck !;)
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Would you mind posting major intersection of your location, I'm with CAA too, it's $1,200/yr, $5K deductible, I'm by the Scarborough Town Center. Thanks
 
fl4637 said:
Would you mind posting major intersection of your location, I'm with CAA too, it's $1,200/yr, $5K deductible, I'm by the Scarborough Town Center. Thanks
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Islington south of the Kingsway ...... and yea they had me at 2500 deductible but in the second year of insuring the C8 I asked for them to drop it to 1000 and I guess the agent was having a really good day ... because they did it no problem ;)

Good Luck !
 

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