As I write this post gas prices are getting higher than ever before.  We hit $3.89 today in Bowling Green, right in line with the national average. Just a few years ago we hit $1.72 as seen in this photo, little did we know a short time later it would double!



 Everyone is tightening their purse strings a bit right now, and many are realizing that there are better options out there for collector car insurance.  While cheap insurance is appealing, do not let that be the main selling point.  There are several items to pay attention to when selecting your collector car insurance agent/agency.


 

•  Choose an agent you can build a personal relationship with.
  • Here at the National Corvette Museum we pride ourselves on our relationships with our customers/friends.    We are an in-house agency that focuses on you and how we can get to know you better.
• Take time to research the company writing the policy.
  • You want to work with a company that is A rated or better with AM Best.  Our underwriter, American Modern Insurance Group is A+ Rated, and has been writing collector car insurance for over 20 years.
  • AMIG’s claims department is staffed by car enthusiasts.  They have your best interest at heart. 
• For any collector car you want an Agreed Value Policy.
  • Do not settle for a Stated Value or Actual Cash Value policy, even if you have a verbal commitment from your agent.  You want, in writing, Agreed Value.  Agreed Value means we agree upon the value of the car before we write the policy, and if you have a total loss while using the car within the policy limits, then you will get the amount we agreed upon.

  
  
  If you are interested in seeing if the National Corvette Museum Insurance Agency can help save you money, provide more comprehensive coverage, and exceptional customer service please give us a call at 877.678.7626 or check out www.ncminsurance.com.
  

I often hear people tell me that they have a $0 deductible from other leading insurance companies or that they have a diminishing deductible.  I ask them what the advantage to this is?  Most really do not have an answer except knowing that small claims will be handled without any out of pocket expense.  What most people do not realize is that this is a way to drive your premium up.   When I ask those with the diminishing deductible if their premium goes up each year, I always hear yes.  Do you wonder why?



Many customers prefer to customize a policy that is right for them. If a lower premium is most important deductibles can be a great option to save money while not compromising the type of coverage on the unit.  9 times out of 10 my customer sees that their premiums can drop significantly to justify the out of pocket expense if an accident ever does occur.  We offer several deductible options from $0, $250, $500, $1,000 and up to $10,000.  If you are worried about glass coverage, we’ve got you covered.  We offer “Full Safety Glass Coverage” at an additional charge, so if you have any front window damage you will not be out a deductible.



Example:



Say I own a 2010 Corvette Grand Sport Coupe in KY



Value $58,000

3,000 miles or less driven a year

$0 deductible = $742 per year

$250 deductible = $614 per year

$500 deductible = $580 per year



You can see that there is over a $150 savings from $0-$500 deductible.



If you are interested in receiving a no obligation quote, with deductible options, please check out our site at www.ncminsurance.com.