Your late model Corvette may...
Your late model Corvette may qualify for Collector Car Insurance. If it does, you'll save a bundle on insurance each year. The primary requirement is that it is not used as a daily driver-it's only used for special occasions.
Another important advantage is that Heacock Classic doesn't steer their policy holders to particular shops. If repairs are needed, the owner can select their preferred repairer. Having you and your car treated right when a loss is incurred is perhaps the most important measure of an insurance company. After all, that's why people buy insurance. Heacock's claim unit is comprised of experienced collector car guys-enthusiasts who own and restore collector cars themselves. Ford Heacock believes this is the real test, where the rubber meets the road so to speak, and states that their staff likes to help to get things fixed correctly and as soon as possible.
To learn more about what is available today, I spoke with Ford Heacock, President of Heacock Classic Collector Car Insurance. Ford was at the Amelia Island Concours d'Elegance, one of the many events that Heacock Classic attends as a vendor and sponsor. Corvette owners will like to know that he is a serious automobile enthusiast. As a native of Sebring, Florida, Ford's family was intimately involved in the heyday of Sebring's international sports car races. His grandfather (Ford Sr.) was the first local chairman of the Sebring 12 Hours of Endurance. He enjoyed watching many Corvettes, including the SS, wailing around Sebring. After college, Ford III, took an active interest in the vintage sports car racing hobby and founded the Sportscar Vintage Racing Association (SVRA), a national organization for vintage racing.
Until recently, most people...
Until recently, most people thought that only older "classic" Corvettes, like this C1 which sold at Barrett-Jackson, could be insured under collector car insurance. However, the car's age isn't a factor in obtaining this type of lower cost auto insurance that often provides better coverage.
For those who have more cars, there are more ways to save. Heacock Classic only charges for liability coverage on the first car they insure. There are no liability coverage charges for additional cars on that policy. This makes a meaningful difference in money for anyone with multiple cars in their collection. By comparison, in a family auto policy, every vehicle is charged for liability coverage.
Besides substantial savings, collector car insurance has another important advantage: an agreed price. If there is a total loss, the company won't argue with you on the value. With most family auto policies, the car is valued is its fair market value-and that is subject to debate.
The collector car insurance policies offered by Heacock provide a number of other advantages. All policies come with instantaneous, automatic insurance coverage when a new collector car is purchased. This means you can go ahead and purchase a car at night, on a weekend, on a holiday-or at an auction. As soon as the sale is completed and they hand you the keys you can drive it, insured to $50,000. Of course, you still have to call within a reasonable amount of time to get the newly purchased car listed on the existing policy.