NCM Insurance

[BLACK BEAUTY]

How can Grundy insure a retro for $25,000. with over 150,000 miles? Seems fishy to me. I'll admit mine valued at $14,000. is a stretch, but not like 25K!

[2K2BIRD]

How can Grundy insure a retro for $25,000. with over 150,000 miles? Seems fishy to me. I'll admit mine valued at $14,000. is a stretch, but not like 25K!

Greg, it's all about numbers to them and obviously not the ones on the odometer. The premium is based on the coverage figure and the fact the car issupposed to be used in limited situations, not every day. They arre also banking on the fact the car is being treated as a classic and well taken care of. If it was insured for $40K the premium would be as such that their tables show them winning in the long run. Obviously, they feel the risk of payout is low or they wouldn't do it. Insurance companies ALWAYS make money in the long run.

[4LOWBIRDS+7]

I am staying with State Farm, they allow me to place my cars in storage when I am not driving them and I only pay for the comp. AllState does the same.

[11TH GEN]

I am staying with State Farm, they allow me to place my cars in storage when I am not driving them and I only pay for the comp. AllState does the same.

Geico does that as well, on any car. When we go away for a few weeks each year I just go into my policy and adjust whatever I want to. I drop all coverage except comp. on the car in garage Saves me about $45 or so if we are gone two weeks. When back I just go in and add coverage back on.

[4LOWBIRDS+7]

Geico does that as well, on any car. When we go away for a few weeks each year I just go into my policy and adjust whatever I want to. I drop all coverage except comp. on the car in garage Saves me about $45 or so if we are gone two weeks. When back I just go in and add coverage back on.

Works even better on fifteen cars.

[11TH GEN]

Works even better on fifteen cars.

I'd have to have all that on my Lotus 123 spreadsheet.

[4LOWBIRDS+7]

I'd have to have all that on my Lotus 123 spreadsheet.

Liz helps. We have been doing two at a time, 1st and 16th of the month.

[007Cruiser]

I had GEICO way back in the early 70s. They only insured government employees back then and I was working for Uncle Sam. No one else would cover me as I had too many speeding tickets. Those were the good old days.

[wcoates]

That right there is the root of my problem. Two drivers, two classics, and just one daily driver. I would need to sell a classic or buy another daily.

Or maybe tell Pam she has to give up her DL.

[007Cruiser]

Or maybe tell Pam she has to give up her DL.

I thought of that but even the higher premium is cheaper than divorce.

[11TH GEN]

I had GEICO way back in the early 70s. They only insured government employees back then and I was working for Uncle Sam. No one else would cover me as I had too many speeding tickets. Those were the good old days.

I have had Geico since May of 1970 and was not a government employee. Maybe different states had different requirements back then.

[007Cruiser]

I have had Geico since May of 1970 and was not a government employee. Maybe different states had different requirements back then.

The other possibility is that I was wrong.

[Gobird]

I'll stick with Grundy.

[Gobird]

Grundy set the value. We originally agreed to it back when we got the insurance with them. I think it was about $20,000 which at the time was far market value. Since then, they have raised it every renewal to what it is now. I believe their system treats all "Classics" the same way and automatically raised the values per inflation.

I agree with what David has stated.

[11TH GEN]

The other possibility is that I was wrong.

Well that's a given