Changing insurance?

[lloyd3]

American Collectors has, evidently, changed underwriters and just sent out a fairly large package to the clients for their review and signatures. $65k of defined coverage now costs me $475 per annum. Lot of re-defined limits of liability and other stark definitions, along with seemingly "new" and wonderful benefits to help justify the change. Considering all of the "new" evolving situations in our world these days, I thought I might call to talk to someone at the company and see what's "up" with all the tree-killing that was and is going on. Long story short, it all sounds pretty-much the same, perhaps with a little more attention being paid to limiting the underwriter's liability just a wee-bit more. The old policy is abruptly ended, period. The new policy is similar,  but perhaps... a little more well defined.  Anybody here have better insight into all of that?  Any better deals out there?

[triple_green]

My annual premium for $40K is $363 from Hagerty.

[mopar4don]

watching   

[moparstuart]

Adam Boca   is my guy   , they have treated me great   just paid 400.00  for  75 k on my bird and 25k on my 31 nash hot rod   . getting ready to add the charger on at 50 k  ill keep you updated on how much that goes up  .

  https://ncminsurance.org/  

[69rtse4spd]

  .

[AKcharger]

Have American Collectors, just submitted qoutes from NCM they are pending, Hagerty came back $860 yr. for 67K and 35K coverage!

[Just 6T9 CHGR]

What is going on with ACI?   I have them for over 24 years.....I didnt receive anything in the mail about any changes???

[Birdflu]

Adam Boca   is my guy   , they have treated me great   just paid 400.00  for  75 k on my bird and 25k on my 31 nash hot rod   . getting ready to add the charger on at 50 k  ill keep you updated on how much that goes up  .

  https://ncminsurance.org/  

  Switched to NCM over a year ago and never looked back! Saved hundreds annually on our cars with better coverage to boot! 

[whitehatspecial]

Is NCM insurance associated with the National Corvette Museum in KY?

[moparstuart]

Is NCM insurance associated with the National Corvette Museum in KY?

yes one and the same  , ive had them for 12 years now,  figured if it was good enough for the snooty corvette guys it was good enough for my shit   

[taxspeaker]

Adam Boca   is my guy   , they have treated me great   just paid 400.00  for  75 k on my bird and 25k on my 31 nash hot rod   . getting ready to add the charger on at 50 k  ill keep you updated on how much that goes up  .

  https://ncminsurance.org/  

Ditto here

[lloyd3]

Hmmm....the quote I just got over the phone from NCM cuts my annual fees in half. I need to go over the fine points a bit more but... it seems like a no-brainer to me. American Collectors has clearly stopped paying attention to their market. After more than 20-years of my business, it feels like they're taking me for granted just a little bit. The young man I talked to in Maryland about my "new" policy was clearly not a car guy, but the young man I talked to today at NCM (Sam?) clearly is. Not a critical difference in most ways, but....

You should never wake up an old guy to "new" changes. It makes us look more-closely at what is actually happening.

[Just 6T9 CHGR]

Oddly enough the quote I got today from NCM was $100 more per year than my ACI policy of the same coverage

[lloyd3]

Interesting.  Are you comparing apples to apples (deductibles, liability limits, mileage limits, etc.)

There is also the question about how claims are handled. American settled a fairly large claim on my car back in 2008 ($12k plus) and they did what I would consider to be a pretty good job on that. Has anybody here have any experience with NCM on a claim of that magnitude?  Another thing to consider, sure...I'd like to save $250 but I not excited about all the hoops one must jump through to start a new policy (not terrible but onerous none the less). Stroking a check to American is far-easier, and one I'd have already done if they hadn't hit me with all this paperwork. This new underwriter adds a clear twist to what was seemingly a rock-steady situation.

Last question (for now) for me. Is this a classic bait and switch situation?  Low rates now might not translate to next year or the year after. Has NCM been pretty steady for you folks that have them already?

[whitehatspecial]

Is NCM insurance associated with the National Corvette Museum in KY?

yes one and the same  , ive had them for 12 years now,  figured if it was good enough for the snooty corvette guys it was good enough for my shit   

Thanks. I have an old Corvette as well as the Charger, so I guess that makes me extra "snooty"! 

[Just 6T9 CHGR]

Interesting.  Are you comparing apples to apples (deductibles, liability limits, mileage limits, etc.)

There is also the question about how claims are handled. American settled a fairly large claim on my car back in 2008 ($12k plus) and they did what I would consider to be a pretty good job on that. Has anybody here have any experience with NCM on a claim of that magnitude?  Another thing to consider, sure...I'd like to save $250 but I not excited about all the hoops one must jump through to start a new policy (not terrible but onerous none the less). Stroking a check to American is far-easier, and one I'd have already done if they hadn't hit me with all this paperwork. This new underwriter adds a clear twist to what was seemingly a rock-steady situation.

Last question (for now) for me. Is this a classic bait and switch situation?  Low rates now might not translate to next year or the year after. Has NCM been pretty steady for you folks that have them already?

Same exact coverage  liability wise.....I did add 5k extra in the agreed value though.....that should not be worth $100.....

[375instroke]

Basically, you pay for your coverage, and every word of that policy is them telling you all the ways of how they're not going to cover you.

[chargered]

I have American Modern with a premium of $194 annually for $42K in coverage.  I have no idea if they are any good or not, as I've never had to use it 

[whitehatspecial]

NGM quote is 525. for 3 vehicles, total value 135k.

American Collectors 718. for the same. 

This is apples to apples comparison numbers. That's over 25% savings according to my math!

[Just 6T9 CHGR]

NGM quote is 525. for 3 vehicles, total value 135k.

American Collectors 718. for the same.  

This is apples to apples comparison numbers. That's over 25% savings according to my math!

I would assume there is a difference in where you are insuring the cars also.   I am in New York City

NCM quoted me $548 for 1 car @ 60k AV.  3k miles per year....  100/300 coverage....funny their insurance is under written by American Modern?

Hagerty quoted me $690 @60K AV.  2,500 miles per year  100/300 coverage


I pay ACI  $456 for $56,250 AV  5k miles per year  300/300 coverage

[whitehatspecial]

A quick google search shows that NY has one of the highest rates for auto insurance in the US. Iowa is one of the lowest.

So where you live does matter quite a bit.

[tcs69rt]

I guess I will be the one to raise the Grundy flag. They were half the price as Hagerty...maybe because they don't send me a pretty magazine?    I left Hagerty 8+ years ago due to their steady increase. Just my experience....good luck finding insurance!

On a side note every military guy I work with seems to have USAA and many have switched to Geico or Progressive for daily cars at my suggestion. I left USAA for Geico and saved a few hundred. Then years later I got a quote for hundreds less thru Progressive over Geico! I DO NOT recommend letting any insurance company talk you into a lower price if you put their sensor in your vehicle! I have heard horror stories about companies raising rates because you made an "aggressive stop" according to their sensor and all you really did was hit the brakes for a deer or a yellow light!

[lloyd3]

Well....I wimped out and just re-upped with American. Got busy here (headed back on the road next week for work) and didn't want to go through the hassle of the new insurance application with NGM. I know I could have saved some money but I'm going to try these folks for another year. I've been with them for over 20 years and how they handled my last claim was impressive.

[AKcharger]

OK 4 quotes, all the same coverage 35K and 67K, 100/300 with uninsured motorist and $500 deductable. Annual rates were
Hagerty - $867
ACI - $718
NCM - $504
*Grundy - $1244

I'm switching to MCM, $200 less and better coverage ($2K parts vs. $500 ACI  $1000 trip interuption vs. $600 stuff like that) OP thanks for bringing this up, I wouldn't have looked!


* on-line auto generate so might be lower if speaking with agent

[Kern Dog]

Why was the OP banned? He messaged me at FBBO and stated that he cannot get on the site.