Well the 70's are back!

GMJim

GMJim

Regular
2 You're 10
Nov 17, 2013
141
136
Waterdown, Ontario
VetteCoins
2,797
Car
2011 ZR1
Just got a letter from my car insurance company (I've been a client for over 40 years accident free) that as of Dec. 31/18 they will no longer insure my 2011 ZR1 (rule#19). I remember in the late 60's and early 70's the muscle cars were subjected to insurance companies lack of brains and the auto companies advertised their horsepower lower to help sales. So now I have a 49 year accident free record (40 of those years with this company) I'm 65 years old, and they dump me! Damned insurance companies!
 
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Economical Mutual. Letter from my broker. "Please be advised that we have been notified by Economical Mutual that they will delete your 2011 Corvette ZR1 effective Dec. 31/2018 due to the vehicle being capable of producing more than 580 horsepower. This is their private passenger rule #19."

I have been with this broker and this company since 1978 accident and claim free and when I recently moved to Millgrove they refused to insure my new to me house because it has PEX plumbing. I kept my cars with them because overall I was getting good rates. I sold my 2010 Grandsport and bought the 2011 ZR1 in November of 2013 so my ZR1 hasn't been an issue for the last 5 years, why now?
 
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Pex? Makes no sense at all. If it works with the building code, and it does, what would be their rational for refusing insurance?

Jim, I think you need to start looking for a new insurance agent, who appears to be not working in your best interest, and a new insurance company. Loyalty while I agree should mean something I am afraid it means very little any more.

Good luck.
 
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vintageracer said:
I think Lant/Hagerty has an insurance plan for special interest cars such as Corvettes. If your car fits the criteria, you will find it surprisingly comprehensive and inexpensive.
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I have my 68 1/2 ton pick up with Lant and for the last 30 years, my 69 Camaro. I was thinking of calling them for my other vehicles but my brother in-law had an accident with catastrophic injuries Lant/Hagerty (The company, AVIVA) waited him out until he was going to lose his house and he had to settle for much less than he should have. Yeah a better lawyer might have made things better but I swore I would never deal with them. I sold the Camaro but still have my truck with Lant. Going to change that too.
 
My '68 AMX was written off by a left turning BMW and in about 2 or 3 weeks I had a cheque in my hand for the agreed value and I bought back the wreck. The car is now better than before the accident and there were actually a few dollars left in my pocket! They sure made it easy for me! No physical harm to any people though. That may be the kicker.

June22 2013 105.JPG
 
GMJim said:
I have my 68 1/2 ton pick up with Lant and for the last 30 years, my 69 Camaro. I was thinking of calling them for my other vehicles but my brother in-law had an accident with catastrophic injuries Lant/Hagerty (The company, AVIVA) waited him out until he was going to lose his house and he had to settle for much less than he should have. Yeah a better lawyer might have made things better but I swore I would never deal with them. I sold the Camaro but still have my truck with Lant. Going to change that too.
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I just dumped Aviva. Virtually no customer service. Example, tried to contact them a number of times this year for policy changes and were lucky if they phoned me back within 3 hours. Said they would send proof of insurance to dealers for car purchases and they didn't. Charged me for liability when my Vette was in storage even though I called to cancel liability and keep only fire/theft. Asked to talk to a supervisor and was told there wasn't any. Terrible company. I had Bel Air Direct when it was Canadian Direct. Canadian Direct was horrible also.
 
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GM Jim - Give Jason Wilson a call at Reeds Ins in Lindsay Ont. 705 324 6260
They have a great policy to help deal with this very situation. Vintage Auto Ins.
They will likely recommend an appraisal for the agreed upon value in case of an accident. I think that's the 19A clause.
You also have the option to maintain fire and theft when you take it off the road in the winter. Saves a few dollars.
Good luck
 
Thanks everyone! I have some time to research a few companies. I really didn't consider a 19A valued vehicle endorsement for my ZR1 but considering it's value and the usual low balling all insurance companies will attempt if there is a loss I'm going to see what the cost is and it might be an option.
 
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The 19A endorsement is important. Call your current provider and ask them what the pay-out would be in the event of a bad accident and the car would have to written off. That's why an appraisal is money well spent.
My 2 cents. Good luck
 
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My current provider is who dumped me. I have a 68 1/2 ton P/U with Lant/Hagerty. I called them and they gave me a good rate for the ZR1 but not quite as good as others BUT for $50.00 more they will allow a 19A endorsement. I only found two companies that would insure a 2011 with a 19A and still allow removing full coverage for the winter. The difference in what I was paying with my previous company will be about $150.00 to $200.00 more considering removing road coverage in the winter. The extra expense will be for an appraisal every 3 to 5 years.

On a general note EVERY broker, agent, insurance company I talked to ALL SAID insurance (car and home) is going up 10 to 15 percent across the board this year. So much for the previous Liberal government dropping rates 15%. I guess that was another stretch goal!
 
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I am with a broker that uses Aviva, we have been with them for 15 years, I insure the 2016 vette for full coverage for a year at $938 then my broker calls me and asks in October when I want to take off liability and collision for winter storage, he then calls in March and asks if its time to place coverage back on I get $628 back each fall as I pay up front for a year.
They treat me excellent, my wife and daughter both have had accidents and Aviva was great. I insure my 70 GMS step side with Haggerty but will be going to Zehr in renewal time as its almost half the cost same coverage, this also suggested by my broker. Just my 3 cents good luck
 
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canuckguy said:
I just dumped Aviva. Virtually no customer service. Example, tried to contact them a number of times this year for policy changes and were lucky if they phoned me back within 3 hours. Said they would send proof of insurance to dealers for car purchases and they didn't. Charged me for liability when my Vette was in storage even though I called to cancel liability and keep only fire/theft. Asked to talk to a supervisor and was told there wasn't any. Terrible company. I had Bel Air Direct when it was Canadian Direct. Canadian Direct was horrible also.
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thats why i use a broker better service.
 
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GMJim said:
Thanks everyone! I have some time to research a few companies. I really didn't consider a 19A valued vehicle endorsement for my ZR1 but considering it's value and the usual low balling all insurance companies will attempt if there is a loss I'm going to see what the cost is and it might be an option.
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HiGM Jim...I am with Cooperators in Ottawa for my 06 Vette coupe with no problems.
 
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