The Chevrolet Corvette is an iconic vehicle in the history of the American automobile. Since 1953 the Corvette has stood for speed, sophistication, and engineering. Those early Corvettes, circa 1963 through 1973, helped define the golden age of speed. If you own one of these special cars you want to make sure you have sufficient automobile insurance to protect its value.
Classic Corvettes are highly collectible and are typically the prize possession of their owners. Many Corvette drivers spend months if not years making their vehicle as close to perfect as possible. This involves purchasing original New Old Stock (NOS) parts and frequenting the swap meets and salvage yards that specialize in classic cars. This love for your vehicle intrinsically increases the cars value. You must make sure your insurance coverage takes into account this extra expense.
Many mainstream insurance companies such as State Farm and Nationwide offer a level of coverage for these rare vehicles, but they don’t offer a “stated value” insurance policy that allows you to itemize your expenses. They also don’t allow you as an owner to choose your own service facility, or to specify the quality of parts that will be used in any accident repair. In short, your classic Corvette will be treated like a 10-year old Camry when it comes to a claim.
Getting the Right Car Insurance for your Classic Corvette
To make sure your car has the right kind of coverage I recommend going to one of the specialty insurance companies that understands the needs of a Corvette owner. These companies will understand the difference between a Fuelie, a split-window coupe, and a daily driver. You can get a classic car insurance quote that will give you the option to purchase the additional coverage you need. This means they won’t balk when you try to insure your LS1 Corvette for $100,000.
Another advantage to classic auto insurance companies like CHROME or Sneed is that they understand the demographic of the car collector. Car collectors tend to be older and well established, which means they are better risks for the insurance company. Because of the lower risk, and the requirement that the vehicle not be a daily driver, most classic Corvette owners will find they can save a lot of money by purchasing specialty car insurance.
Fortunately most of the classic car insurance companies have comprehensive web sites where you can review their offerings and even purchase insurance online. Hagerty insuranceallows you to complete the entire transaction, from application to printing your policy and insurance card, right from their web site.
As an owner (or potential owner) of a classic Corvette you understand the value of your car. In order to protect that value you need car insurance. Getting a classic car insurance quote will help you find the best coverage for the least amount of money.
About Richard Brown