One of the longtime traditions for the New Year is to make resolutions, and while many may be thinking about exercising or losing some excess weight, this time of reflection is also great for making sure your Corvette has the right insurance coverage for the coming year.
When was the last time you took a look at Corvette values and then applied them to your Corvette? Has a been a couple of years? Do you even remember what you told your insurance company? If any of these questions ring true, it’s time to have that conversation once again.
We spent many hours in January watching the Corvettes being sold at Mecum Kissimmee 2026 and Barrett-Jackson Scottsdale and the values of classic Corvettes are still strong, while the later generations appear to be holding strong as well. Each generation of Corvette has its own lifecycle of depreciation/appreciation and it’s important to know where your vehicle stands as of now.
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 sites like AutoTrader.com and CarsforSale.com as they feature multiple dealers selling both classics and later pre-owned Corvette models, and you can search nationwide to get a better picture of where your Corvette is currently selling for.
Those Corvettes that sold at auction are a real-time indicator of current Corvette prices, and it’s always good to know what cars are selling for at these high-profile events. Both Mecum and Barrett-Jackson allow you to search your make and model year against past auctions results to see the selling prices.
And finally, there are several research websites where you can get current pricing and values for your Corvette. The National Automotive Dealers Association (NADA) and Kelley Blue Book both offer current values on vehicles.
After you’ve done the research and you’ve noted where many similar Corvettes are selling in this current market, it’s time to see if your insurance coverage will adequately cover any potential loss. If you are not insured with the NCM Insurance Agency, now is the time to get a free quote.
While you’re talking with your insurance company about your Corvette’s values, ask if they offer Agreed-Value Policies. The NCM Insurance Agency only writes “Agreed Value” policies which is a “promise of value” made between you and your underwriter, and it’s the value that you will receive if your vehicle is lost in an accident or other incident. Other insurance companies generally offer Actual Cash Value or Stated Value policies which may sound good, but you really want to stay away from them. Actual Cash Value is the book value at the time of the loss while Stated Value is where you think you are protected for a certain amount, but the insurance company can still depreciate or find less value than what you thought you had agreed to.
The NCM Insurance Agency insures all years of Corvettes-even including the latest high performance C8 Corvettes like the Z06 and ZR1-as long as you meet their collector car guidelines. That generally means the vehicle is not used as a daily driver and there are annual mileage tiers. The good news there is that unused mileage rolls over to the next year. These Agreed Value policies from the NCM insurance Agency aren’t just for Corvettes. You can protect all types of collector vehicles including exotics and muscle cars. NCM Insurance can even write policies that protect your investment for high-performance driving events (HPDE) and other on-track excursions.
The NCM Insurance Agency is backed by multiple carriers including OpenRoad, Hagerty, and American Modern, who specializes in collector car insurance and has been around since the early 1960s. They are rated A+ by the A.M. Best Company, and they have incredible resources at their disposal when it comes to dealing with a claim. The NCM Insurance Agency also offers the GloveBox app for easy policy access when you’re on the road, as well as for customer support and policy payments.
Get piece of mind today with a free quote from the NCM Insurance Agency. We always say it’s better insurance at a better price, and you’re helping to support the National Corvette Museum in the process. Visit the NCM Insurance Agency today and Request a Free Quote today.
Source:
NCM Insurance Agency
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Hagerty all the way for my 2 collector cars. Agreed value and 3500 miles per year with no restrictions except can’t be a daily driver. Have to own a DD insured by another insurance company.
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