Photo Credit: NCM Insurance Agency
Review Your Policy with the NCM Insurance Agency
If you included having more fun in your Corvette as a New Year’s resolution, you are not alone! In a recent poll on CorvetteBlogger, 48% of respondents replied their New Year’s Resolution was to “just drive the darn thing more often.” But before you hit the road in your Corvette, you should make sure your insurance policy coverage is in line with the rapidly changing values we see in the marketplace.
Watching the Mecum and Barrett-Jackson auctions, we are always amazed by how much Corvette values have changed over the years. While higher prices can be welcomed news from a valuation perspective, it can also be a double-edged sword if you don’t have enough insurance coverage, or even worse, the wrong kind of policy when the unthinkable occurs.
One of the annual resolutions you should be making is to check and potentially update the value of you Corvette’s insurance policy. One of the easiest ways to determine whether or not you need additional coverage on your Corvette’s insurance policy is to look at what similar cars are being sold for right now. That’s as simple as plugging your Corvette year and model into Google and seeing what similarly equipped Corvettes are selling for. We also like some of the large for-sale websites like AutoTrader.com and CarsforSale.com as they feature multiple dealers selling both classics and later pre-owned Corvette models.
Mecum Auctions has sold a ton of Corvettes over the years, and their website also allows you to search your make and model year against past results to see those selling prices. With an account on Mecum, you can search all the previous auctions for a similar matching Corvette and see its selling price. Another tip is to remember to bookmark these links to share with your insurance agent.
There are also research sites where you can get current pricing and values. The National Automotive Dealers Association (NADA) and Kelley Blue Book both offer current values.
Once you’ve done your research, if the selling prices for similar Corvettes or other collectible vehicles are thousands more (or less) than the value on your insurance policy, it could be time for a review! Visit ncminsurance.com to request a quote to insure your Corvette or other dream machines.
If you don’t have an Agreed Value Policy, now is a great time to review your car’s insurance policy. The NCM Insurance Agency only offers Agreed Value policies so you know exactly what the replacement value is in case you’re facing a total loss. When you bring a vehicle to the NCM Insurance Agency, they will lock in that value for the life of the policy so there is no depreciation of insurance coverage. On any new vehicle purchases, they lock in the purchase price for the first six months, and then the value can be adjusted any time thereafter. If you have two or more collector vehicles, you only pay once for the liability coverage!
The NCM Insurance Agency’s collector car policies also provide additional coverages specifically for collector car owners who may require these extras. They may include:
- Spare Parts – Covers any spare parts or personal tools that you use on your vehicle.
- Restoration Coverage – Recognizes that the car is out of service while still offering comprehensive coverage. Coverage amounts can be increased as work is completed.
- Roadside Assistance and Travel Loss – Provide towing and other services in case your car breaks down while driving. Travel loss offers financial assistance if you are stranded.
- Disaster Relocation – In the case of a storm or other pending disaster, you can receive assistance to relocate your car to a safer local until the threat passes.
- Pet Protection – Some policies even provide coverage if your pet is injured in an accident.
Get your free quote today from NCM Insurance and see the difference they can offer. We say it’s better insurance at a better price, and you help support the National Corvette Museum in the process. Visit their website at ncminsurance.com and request your free quote today!
NCM Insurance Agency 2025 Show Dates
The representatives of the NCM Insurance Agency will be hitting the road again in 2025 and can help answer all your questions about collector car insurance. Even better, when you bring out your current insurance documents to one of their car show appearances, they can provide you with an apples-to-apples comparison to help you make the best decision.
• Detroit Autorama – Detroit, MI
• Corvette Expo – Pigeon Forge, TN
• Ponies in the Smokies – Pigeon Forge, TN
• NCM BASH – Bowling Green, KY
• GoodGuys BASF– Nashville, TN
• GoodGuys Northwest – Puyallup, WA
• Corvettes at Carlisle – Carlisle, PA
• Triple Crown of Rodding – Nashville, TN
• Muscle Car and Corvette Nationals – Chicago, IL
Source:
NCM Insurance Agency
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