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When Start C8 Insurance?

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  • When Start C8 Insurance?

    There are many different opinions on when one should start insuring your C8. I am on the extreme conservative edge of this discussion, so FWIW here is what and why I have done what I do (and we also did so for our C5-C7’s also).

    First, major thanks to ALF01 earlier raising this issue first in this thread:

    https://www.midenginecorvetteforum.c...useum-delivery

    He raised IMO several cogent points, but now we have one additional one and as it applies not just to NCM’s R8C program, I thought a caution for some might be useful. I raised this issue to a friend (fellow forum member) who said my raising it was a new idea to him and towards the end of our phone called he said, “right after we are done talking, I am going to insure mine.”

    Let us further stipulate the obvious that until your car is delivered to your home dealer, NCM or your courtesy delivery dealer, GM is responsible for it, has insurance on it.

    How does the virus effect, I believe compound, the issue of when to insure our C8’s? Let’s say you live in a shut down state. And your C8 arrives at your dealership to find they are closed. This is pretty unlikely, at least for the few shut down orders I have read in that most states are allowing dealership service departments to remain open, many allowing 100% of dealership operations to remain open. But is there today, or might there be tomorrow, a state or a city that has a shut down even on dealership service departments so that they can not receive a C8 nor any other vehicle?

    But even more probable than the unlikelihood of the above example, is what could happen if your C8, like mine will be traveling on a train. It arrives at a rail yard, gets unloaded, but what if within your state moving of new vehicles is not allowed and yours sits at the rail yard for an unknown amount of time. Without making a social statement, might your car, looking so different in its white traveling suit, drastically more swoop than the pickups and SUV’s parked around it, become a target for someone? Or what if your state is not shut down, but it sits as ours did during its C7 transit, one time within a rail yard for six days, the second time in our local rail yard for five day before moving.

    For those who chose not to read the above linked thread, having personally seen a transporter with brand new Mercedes vehicles on it flip right in front of me, what if there is damage to your car during the transport process, such as a train derailment, a transporter getting stuck in a flash flood. I know to many I sound like the voice of doom and gloom, but to me the amount we paid for our C8 was/is a huge amount, and the last thing we want is to be in the middle of an argument between GM’s insurance company, the train’s, the two transporter companies, each claiming “act of God” and if not there also being “deductibles,” while meanwhile we could well be without our car for a little while — or much longer.

    Hence even though our C8 is still at BGA, we put full insurance on it yesterday. Call me over-cautious! I plead guilty. Best $69 for each month’s piece of mind on such a large purchase that we already paid for in full, that we ever spent.

    Just raising a question that might be of use to those of us waiting for our C8’s to be delivered.
    GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 22 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

  • #2
    It's not your car until you sign for it so it's GM's insurance on it now and the dealers insurance when it gets there. So I don't see the point
    Murray - Uxbridge, Ontario, Canada
    2020 Torch red Stingray coupe, Adrenaline red 2LT Q8Q E60 NPP
    Deposit: July 30/19, 1100: Sept 15/19, 3000: Feb 14/20, TPW WAS May 18, August 24 and lastly July 27,
    3300: July 15, 3400: July 22, 3800: July 30, 4200: Aug 06, 5000: Aug 7, 6000: Aug 12!

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    • #3
      Seems, even though you have paid for it, GM is still responsible-like maybe till you drive it off the lot.

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      • #4
        PLEASE , Never rely on a transporter's insurance . I had one horrible experience with this. I am sure jack Cooper is backed by GM . I always insure a car at the time of the deal . When buying a used car I pay for insurance and if it needs transport to me it is insured.

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        • #5
          When we paid for ours, we also signed ten or so other pages relating to its purchase , so yes we own it now even though it is not yet here. It is part and parcel of the courtesy delivery program.
          GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 22 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

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          • #6
            I really sympathize with anybody waiting for their C8 . I consider my self blessed that I drove mine home from the dealer March 14. I am enjoying it immensely. Like some of you may have read any of my posts this in my ninth Corvette. C2- C8 . I have to admit GM hit a grand slam with the C8. Regarding auto insurance I went through BGM as I have in the past.

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            • #7
              Picking mine up at the dealership. It is not mine until I sign the papers at the dealership. If there was any damage to it I would simple not accept the car. I did not order a wrecked or damaged vehicle. Some of the other scenarios are a little different. I have bought and paid for cars on the other side of the country and I insure them from the moment I pay for them in that case. I agree, shippers insurance has not been an easy pay. I had to use my own insurance after shipping my 67 Coupe from Cali to Texas. If I had been home when it arrived I probably would have served 10 years in the pen. Thankfully my wife was there and prepped me before I got home. No real damage but this was an NCRS car. It was apparently unloaded in a muddy/gravel parking lot, driven around in the lot and then the idiot climbed through the driver's side window with muddy feet so I had muddy footprints all over my leather seat and carpet. USAA stepped up and paid to have the car professionally cleaned.

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              • #8
                Originally posted by John View Post
                When we paid for ours, we also signed ten or so other pages relating to its purchase , so yes we own it now even though it is not yet here. It is part and parcel of the courtesy delivery program.
                Didn't know that. OK, that makes sense.
                Murray - Uxbridge, Ontario, Canada
                2020 Torch red Stingray coupe, Adrenaline red 2LT Q8Q E60 NPP
                Deposit: July 30/19, 1100: Sept 15/19, 3000: Feb 14/20, TPW WAS May 18, August 24 and lastly July 27,
                3300: July 15, 3400: July 22, 3800: July 30, 4200: Aug 06, 5000: Aug 7, 6000: Aug 12!

                Comment


                • #9
                  Courtesy delivery is a whole different world. Like every other choices we have, it has its pluses and its minutes.
                  GBA Black; HTO Twilight/Tension interior; Z51 & Mag Ride; E60 lift; 5VM visible carbon fiber package; 5ZZ high wing; FA5 interior vis CF; ZZ3 engine appearance; 3LT; Q8T Spectra Gray Tridents; J6N Edge Red Calipers; SNG Edge Red Hashmarks; VQK Splash Guards; RCC Edge Red engine cover; VJR illuminated sill plates. Lifetime, annual contributors, and 22 year members of National Corvette Museum. Home is the beautiful Pacific Northwest.

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                  • #10
                    Thanks to John's "Head's Up" tip, I activated my car insurance yesterday on my C8 which is in transit to my courtesy delivery dealer. This is especially prudent in this crisis climate we are living in today. Although the car is insured by the carrier, if some damage should occur, there will be fingers pointing in every direction. The crisis creates plenty of legal loopholes that can be argued ad nauseam. I want to enlist the finger of my insurance company to point in my direction.

                    So what if I'm paying for 2-3 weeks of insurance coverage that might have been unnecessary? The expenditure of an extra $20-30 is well worth the peace of mind.

                    Thanks John for being the voice of reason.
                    2020 C8 Black with Black interior, red stitching 3LT, Trident Wheels, Performance Exhaust, Transparent Roof, and Red calipers.

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                    • #11
                      Am I the only one curious to know how John was able to insure the car for only $69 a month!!! I must be doing something wrong....

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                      • #12
                        Mine was available for museum delivery two weeks ago. Insured it then. Amazes me that someone would pay thousands for film and ceramic to Protect” their C8, yet be so concerned about paying double for insurance for a couple of weeks!
                        i buy insurance for peace of mind. I know I’m double-insured, and I’m OK with that! I’ve got better things to do than referee to see who is liable if something happens. I HAVE MY INSURANCE, AND MY INSURANCE COMPANY WILL MAKE SURE THEY DON’t PAY AND MY CAR GETS FIXED!
                        besides I already wasted $999 on museum delivery I couldn’t participate in, and now $1500 for an enclosed trailer delivery to my house. $2500 for...nothing.
                        I’ll take the insurance thank you.
                        my C8 is in a trailer right now somewhere between Bowling Green and Phoenix! I should have it in a day or two!

                        First Car: 1974 Fiat X1/9 mid-engine.
                        1985 Toyota MR2 first generation mid-engine, 2000 Toyota MR2 third generation mid-engine, 2005 Lotus Elise mid-engine.
                        Currently own 1993 Corvette Convertible. Time to merge mid with Vette.

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