zo6 insurance question

reubenmc · 05-30-05, 09:16 PM

Is insurance on a zo6 more than the standard coupe or convertable from the same year???

6 Shooter · 05-30-05, 09:57 PM

alot depends on your age and driving record.

Edmond · 05-30-05, 10:29 PM

Dwayne,

How is your insurance? Do you put all the cars through the same policy?

DRTH VTR · 05-30-05, 11:24 PM

Quote:

Originally Posted by reubenmc

Is insurance on a zo6 more than the standard coupe or convertable from the same year???

When I traded my '97 coupe for my '02 Z06, my rates were essemtially the same.

JBsC5 · 05-31-05, 12:32 AM

my insurance rates on my 2001 z06 are nearly identical to my 1999 C5 coupe.

I pay a little over 900 a year for the vette and its the same as my 2005 GMC Envoy.

Shop around and you'll be surprised how inexpensive the C5 Z06 is to insure.

I know I was ...(AIG)

Ripp 76 · 05-31-05, 12:46 AM

Hey Reuben, Everyone here is probably right. Driving record has a big effect on what the rates are. Also, Insurance rates are not based on horse power as they once were. More so on the cost or value of the car. It probably also depends if the car is your one and only therefore primary or if it is a summer only secondary (or third or fourth) vehicle.

reubenmc · 05-31-05, 07:16 AM

Thanks for the info guys! I just heard about a zo6 for sale in my area was just curious as to what the insurance would cost. From what everyone is saying it will be near the same as a coupe or convertable.....just depend on my age and driving record...which is working against me!! 21 years old and I do have a couple speeding tickets......... Looks like when it comes time to buy, I'll be asking dad to insure my first vette under his name!

Ripp 76 · 05-31-05, 11:37 AM

Where abouts is the Z06 located? I was thinking of heading to Richmond this weekend. Only for a quick run to help the parents out (computer issues) and maybe put some new front brake hoses on the Corvette.
There is also no shame in putting a car under a parents name at 21 years of age. I'm 22 and my Corvette is actually in my mothers name. However in July I will probably be putting both vehicles in my name (no more edumacation for me) and have been quoting insurance companies.

Edmond · 05-31-05, 05:02 PM

Don't forget to ask if your insurance company has a good student discount. I think it's in the 5% area if you have a 3.0GPA or above.

reubenmc · 05-31-05, 10:22 PM

Ripp, the zo6 is in New Castle and a private owner has it. He is a friend of a friend, and I'm not sure he's even got it for sale yet. I won't be the least bit ashamed haveing my vette insured under a parents name.....just so long as I have a vette!!!

Z_OH_6 · 06-09-05, 04:06 PM

Quote:

Originally Posted by reubenmc

Ripp, the zo6 is in New Castle and a private owner has it. He is a friend of a friend, and I'm not sure he's even got it for sale yet. I won't be the least bit ashamed haveing my vette insured under a parents name.....just so long as I have a vette!!!

Aside from the other good replies here, may I remind you that most insurance carriers know their insureds. They do inspection checks on a regular basis. If you are in the same household, they already know about your driving record. They will automatically rate the highest class car, in this case the Z06, on the highest risk, namely you. The theory is that whether it is dad's or mom's car, you have the potential of getting the keys and driving the car. So who's name it is in may not be relative. You are correct though, your age and driving record will play an important role in rates. Why not ask your agent for a quote based on you as driver of the Z06 to determine if you can afford it.

reubenmc · 06-09-05, 09:33 PM

Quote:

Originally Posted by Z_OH_6

Aside from the other good replies here, may I remind you that most insurance carriers know their insureds. They do inspection checks on a regular basis. If you are in the same household, they already know about your driving record. They will automatically rate the highest class car, in this case the Z06, on the highest risk, namely you. The theory is that whether it is dad's or mom's car, you have the potential of getting the keys and driving the car. So who's name it is in may not be relative. You are correct though, your age and driving record will play an important role in rates. Why not ask your agent for a quote based on you as driver of the Z06 to determine if you can afford it.

Thanks for your reply. When it comes to buy, I'll be checking all my options for sure.

By the way, I love that picture of your zo6 with the Smokeys in the background. I have family how live not to far from there. I love visiting down there!

hzl6cm · 09-26-05, 01:59 PM

I know that this is kind of an old thread but I disagree with the statement that the insurance companies automatically rate the highest risk car on the highest risk driver. My oldest daughter turned 16 last fall, a month or two prior to her turning 16 I was looking at trading my '01 Camaro SS on a new '04 Z06 and I called State Farm to see what affect my daughter truning 16 and getting her license would have on my rates for either the Camaro or the Z06 and they told me that as long as I didn't list her as the primary driver of either of those cars it would have no affect at all. I went ahead and bought the Z06 about a month after my daughter got her license and they were right, it didn't have any affect at all. My insurance rates on the '04 Z06 are at $330 every 6 months and they really haven't changed. I had bought my daughter an '88 Pontiac 6000 ($173.50 on eBay!) and she is listed as the primary driver on that, but she can drive any of the other vehicles including the Z06. I had always figured that my rates would skyrocket for the Camaro once I had my daughter on my policy but I was wrong. Of course I do have to apy about as much to insure her POS Pontiac, liability only, as I do for full coverage on the Z06.

The companies don't always check you out for tickets either once you have a policy. Back when i had my other Camaro ('97 30th anniversary edition - white with orange stripes) I received a ticket for doing 115mph in a 70mph zone. Whe I got my next bill for insurance several months later my bill actually went down and it never did go up.

Kevin

Quote:

Originally Posted by Z_OH_6

Aside from the other good replies here, may I remind you that most insurance carriers know their insureds. They do inspection checks on a regular basis. If you are in the same household, they already know about your driving record. They will automatically rate the highest class car, in this case the Z06, on the highest risk, namely you. The theory is that whether it is dad's or mom's car, you have the potential of getting the keys and driving the car. So who's name it is in may not be relative. You are correct though, your age and driving record will play an important role in rates. Why not ask your agent for a quote based on you as driver of the Z06 to determine if you can afford it.

Bob Chadwick · 09-26-05, 02:11 PM

What Z_OH_6 says is correct as far as it goes. If you let them, they will list the highest risk driver on the highest risk car. You have to tell them that the child will be the primary driver on the lowest risk car.

Money magazine writes up how to shop insurance on a child every once in a while. I was susprised when they recommended buying the child a relatively inexpensive car to insure and listing them as the primary driver.

Your experience appears right in line with what they recommend.