NCM Insurance

[Gerry P.]

My Grundy policy is up for renewal again on my '57 and I've gotten a quote from American Modern Insurance (AMICA) through their arrangement with the National Corvette Museum. The AMICA quote is approx $350/yr vs the $425/yr from Grundy for a $60k agreed value and comparable other provisions. I'm very inclined to switch to AMICA but was interested in whether or not anyone has had a bad experience with their AMICA policy or any other reason not to switch.
Thanks
Gerry

[James B.]

Re: NCM Insurance

I'd also be interested in hearing any current feedback re: AMICA.

[Alexander C.]

Re: NCM Insurance

Interesting. I have Grundy for $85K agreed value on my '56 and I'm up for renewal in a little over a month. I hit up NCM last year for a quote and they were a fair bit higher than Grundy. I will for sure quote them out again this year along with everyone else.

I hear nothing but great things about Grundy, at least they seem to have a better rep than most anyway. I especially like the unlimited mileage from Grundy because I drive my car ALLOT compared to most. Even AAA couldn't offer me a reasonable mileage policy.

[Mike R.]

Re: NCM Insurance

I had a claim with AMICA on a Ford GT that I wrecked at a high speed driving school at a racetrack. They stood behind their policy 100%. This was a $160K+ loss. They just went through their proceedure and paid the claim. They are not interested in doing it again though.

Mike

My Grundy policy is up for renewal again on my '57 and I've gotten a quote from American Modern Insurance (AMICA) through their arrangement with the National Corvette Museum. The AMICA quote is approx $350/yr vs the $425/yr from Grundy for a $60k agreed value and comparable other provisions. I'm very inclined to switch to AMICA but was interested in whether or not anyone has had a bad experience with their AMICA policy or any other reason not to switch.
Thanks
Gerry

[Paul S.]

Re: NCM Insurance

I believe you mean American Modern Insurance Group (that's the companies that insure through the National Corvette Museum), not Amica which is a different company altogether.

I switched from Hagerty to NCM/American Modern this Spring on my 67--no claims history but the premium was a lot less. I checked out the AM Best ratings of the underlying carriers for each, and they're both solid companies.

[Paul J.]

Re: NCM Insurance

My Grundy policy is up for renewal again on my '57 and I've gotten a quote from American Modern Insurance (AMICA) through their arrangement with the National Corvette Museum. The AMICA quote is approx $350/yr vs the $425/yr from Grundy for a $60k agreed value and comparable other provisions. I'm very inclined to switch to AMICA but was interested in whether or not anyone has had a bad experience with their AMICA policy or any other reason not to switch.
Thanks
Gerry

Gerry,

You're a little mixed up, here. Paul Seller has it right. Amica (AMICA) Mutual Insurance Company is one of the oldest automotive insurers in America. They have insured all of my cars, homes, and personal property at one time or another, and they also offer life and other types of insurance. They are truely a "mutual" insurance company, and they used to send you a dividend check every year. There are no middle men or agents. Your claim is handled by a friendly person on the phone and it is handled immediately. Times have changed and they will send an adjuster to assess serious claims, but there are no expensive claims centers that you have to bring the car to. Unfortunately, thier prices have crept upward and I can find better values for specific vehicles with other companies. They still insure my home and seven of my vehicles, but that will gradually change over time, as I can get cheaper quality insurance from other sources. Despite thier prices, I have been totally satisfied with thier services. Other companies, like Nationwide and most particularly State Farm, have been much less accommodating (there's a ton of discussion about State Farm in the archives, both good and bad).

I do not believe that Amica offers the "Agreed Value" policies that we need.

Paul

[Gerry P.]

Re: NCM Insurance

To Paul Seiler and Paul Jordon, I stand corrected, AMICA is not the same as American Modern Insurance. In my search for information on American Modern, I read that they had an alliance with AMICA (on manufactured housing insurance) and wrongly concluded they were related. In further research, I share your conclusion they are separate companies.

Given that, I'm still looking for any claim experience feedback on American Modern Insurance.

Thanks again Paul for getting me back on the right track.

Gerry

[Christopher K.]

Re: NCM Insurance

Gerry,

I just insured my two vettes with NCM. The premium was substantially lower than the others. The agent I dealt with was great. However, the correspondence I received after opening the policy was quite surprising.

I was sent two letters from the underwriter asking for documentation. These letters were titled "First Notice". The first letter asked tor a bill of sale with the selling price included. The second came about a week later asking for proof that I was a member of NCRS. Both letters gave me 10 days with 4 days already gone by the time they reached my house.

I have had insurance for years with American Collectors and also Hagerty.
I have never received letters like this. Hopefully they handle claims better than they do correspondence. Maybe someone can share their experience.

Good Luck,
Chris

[Jon S.]

Re: NCM Insurance

I switched to the NCM/AMIG insurance for both my cars when they began offering it. They offered a few nice options for annual mileage that I could not get from my prior insurer, and a 'work rider' that allows me to drive the car to work occasionally as well as the usual 'pleasure driving'. The rates were better as well.

I haven't had a claim yet, but when I have questions, Adam Boca at the NCM is always very responsive, as is AMIG when he needs to go to them for answers. I have no complaints yet.

If you have questions, you can call Adam directly at the NCM.

[Chuck G.]

Re: NCM Insurance

Gerry,

I just insured my two vettes with NCM. The premium was substantially lower than the others. The agent I dealt with was great. However, the correspondence I received after opening the policy was quite surprising.

I was sent two letters from the underwriter asking for documentation. These letters were titled "First Notice". The first letter asked tor a bill of sale with the selling price included. The second came about a week later asking for proof that I was a member of NCRS. Both letters gave me 10 days with 4 days already gone by the time they reached my house.

I have had insurance for years with American Collectors and also Hagerty.
I have never received letters like this. Hopefully they handle claims better than they do correspondence. Maybe someone can share their experience.

Good Luck,
Chris

I too recently switched from Hagerty to the NCM policy. I can't comment on claims for either company, as I've never had one.

I will say that the NCM policy was significantly less than Hagerty for the 2 old Corvettes and the 56 Chevy.... As I recall, almost $300.00 per year less.

That being said, after I switched, I was never asked for any "documentation", bill of sale, etc., nor was I asked if I was a NCRS member.

Chuck

[Ron H.]

Re: NCM Insurance

I have my 65 ragtop with the NCM program, and am an insurance agent who also sells collector coverage with American Modern Home Group. Good program, and most importantly has broad "use" coverage.

This is very important when selecting a collector policy. Dont just go with the lower price. Nothing worse than driving your treasured Vette to the office some day, and have it hit, then find out no coverage because its only covered for "... parades, exhibitions and club use".

Adam Boca, is the NCM insurance coordinator, and will give you some great service. Plus, it helps support the NCM

[Gerry P.]

Re: NCM Insurance

Thanks everyone for the replies. Based on your input and talking with Adam Boca, I'm strongly leaning towards NCM at this time.
Gerry

[Robert J.]

Re: NCM Insurance

Thanksgiving day I backed the 55 out of the garage into my brothers Explorer..........NCM was great, they were in constant contact. Told me to get an estimate then sent my brother and my self a check to do the job.

They even called me back after the job to follow up and ask if everything is to my liking. I was impressed.

The rates are the best around.