NCM Insurance Agency

What NCM Insurance Agency does

NCM Insurance Agency is a niche, commission-based insurance agency founded in April 2009 and operated as a captive subsidiary of the National Corvette Museum, a 501(c)(3) nonprofit. The agency is physically headquartered inside the museum at 350 Corvette Dr, Bowling Green, KY, and is licensed to write business in all 50 U.S. states. Under CEO Adam Boca, it employs a small team of seven and serves the collector vehicle owner segment — focused on Corvettes, muscle cars, exotics, and classic automobiles — plus adjacent enthusiast use cases such as High Performance Driving Events (HPDE) and car club liability.

The core product is agreed-value collector vehicle insurance, distributed through a multi-carrier stack that includes American Modern Insurance Group (primary carrier), Hagerty, OpenRoad, RLI, AMIG, Lockton Motorsports, and OpenTrack. Surrounding products include a Personal Umbrella Policy (via RLI), NCM Choice multi-vehicle bundling, Car Club Liability, Emergency Relocation Expense coverage, and a $10/year 24/7 Roadside Assistance rider. Pricing is mileage-tiered (1K, 3K, 6K miles) and uses agreed-value deductibles ranging from $0 to $10,000, allowing the agency to quote premiums materially below traditional auto coverage — for example, $200–$300/year for many C3 Corvettes versus $800–$900 from standard insurers.

The business model is commission-based: 100% of the agency's commissions are directed back to the National Corvette Museum to support its nonprofit mission. Distribution leverages the museum's physical location, its 50+ annual car shows, the membership and car club ecosystem, and nationwide licensing to acquire 'thousands of collectors' across all 50 states. As of 2011, the agency reported approximately $50M in insured collector vehicle value, a figure that has grown since. The agency acts as an intermediary and risk-placement specialist rather than a risk carrier, with no proprietary underwriting technology disclosed and policy servicing supported through the third-party Glovebox mobile application.

Name

NCM Insurance Agency

Legal name

NCM Insurance Agency

Website

https://ncminsurance.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

NCM Insurance Agency is a 7-person, nationwide-licensed insurance agency inside the National Corvette Museum that underwrites collector vehicles (Corvettes, muscle cars, exotics, classics) via multi-carrier placement, with 100% of commissions supporting the museum's nonprofit mission.

Ownership category

akta.pro rank

Product category

Collector Vehicle Insurance

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Classic / Collector Car Insurance (FSAJAAAG)

akta.pro secondary industry

Full-Coverage Personal Auto Insurance (FSAJAAAF)

Keywords

• Collector vehicle insurance
• Classic car insurance
• Agreed value coverage
• HPDE track insurance
• Car club liability

Headquarters

HQ city

Bowling Green, KY

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Collector Vehicle Insurance Premiums: Recurring insurance premiums from collector vehicle policies with agreed value coverage, liability, collision, and comprehensive coverage for classic, exotic, and collector cars.
2. HPDE Insurance: Single-event and multi-event (6, 9, 12, or 15 events) physical damage coverage for High-Performance Driver Education events through Lockton Motorsports partnership.
3. Personal Umbrella Policies: Additional liability protection through RLI with limits ranging from $1 million to $5 million for customers needing coverage above their underlying auto and homeowners policies.
4. Roadside Assistance Add-on: $10 per year roadside assistance program providing $200 worth of towing through AMIG.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

NCM Insurance Agency is a specialty insurance agency that sells collector vehicle insurance anchored on Agreed Value coverage (no depreciation on total loss), flexible mileage tiers (1K/3K/6K annual miles with rollover), and endorsements tailored to enthusiast usage such as occasional commuting, car shows, and club events. Beyond its core collector car policies, it distributes HPDE track-day coverage via Lockton Motorsports and OpenTrack partnerships, Personal Umbrella policies through RLI, multi-vehicle NCM Choice bundling, and Car Club Liability coverage, with policies placed through carrier partners led by American Modern Insurance Group.

Product overview

NCM Insurance Agency offers a unified portfolio of collector vehicle insurance products centered on Agreed Value Protection for classic cars, Corvettes, exotics, and race cars. The core offering is Collector Vehicle Insurance, complemented by HPDE Insurance for track day protection (via Lockton Motorsports and OpenTrack partnerships), Personal Umbrella Policies (through RLI), NCM Choice for multi-vehicle collections, and Car Club Liability coverage. Standard policy features include Emergency Relocation Expense Coverage and optional 24/7 Roadside Assistance. The company operates as an agency affiliated with the National Corvette Museum, insuring collector vehicles across all 50 states since April 2009.

Differentiator

Problem solved

Functional benefit

Products and services

• Collector Vehicle Insurance Primary insurance product for classic, vintage, and collector vehicles providing Agreed Value Protection, flexible mileage options, and specialized coverage tailored to collector car ownership. Covers vehicles stored in private locked garages and used for occasional pleasure, car shows, and club events.
• HPDE Insurance High-Performance Driver Education insurance providing physical damage coverage for vehicles participating in HPDE events and track days. Offered through two channels: single-event coverage via Lockton Motorsports and annual track coverage via OpenTrack. Does not include liability coverage.
• Personal Umbrella Policy Additional liability protection policy providing $1 million to $5 million in coverage above the limits of underlying auto, homeowners, boat, or recreational vehicle insurance. Underwritten through RLI.
• NCM Choice Multi-vehicle collection coverage option for customers with multiple collector vehicles, offering bundled savings and unified policy management.
• Car Club Liability Quote Specialized liability insurance product for car clubs, covering events, gatherings, and club activities.
• 24/7 Roadside Assistance Optional add-on providing round-the-clock roadside assistance including flatbed towing, fuel delivery, flat tire repair, and lockout services. Priced at $10 per year through AMIG, covering all vehicles on the policy.

Quantifiable outcome

• Premiums for C3 Corvettes as low as $200-$300/year with specialty coverage vs $800-$900/year with traditional insurers
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, minor and flagship.

• Lockton MotorsportscoreTechnology or IntegrationPartnership with Lockton Motorsports to provide Single Event HPDE (High-Performance Driver Education) physical damage coverage. Offers multi-event policies (6, 9, 12, or 15 events) for track day enthusiasts.
• OpenTrackcoreTechnology or IntegrationPartnership with OpenTrack for Annual Track Coverage, providing year-round HPDE event insurance for collectors who regularly participate in track days.
• American Modern InsurancecoreOthersPrimary insurance carrier providing the underlying policies for collector vehicle coverage. Processes claims including Hurricane Helene and Milton claims with dedicated adjusters.
• HagertyminorOthersAlternative insurance carrier for collector vehicle policies.
• OpenRoad InsuranceminorOthersAlternative insurance carrier for collector vehicle policies.
• RLI Personal UmbrellacoreOthersPartnership with RLI to offer Personal Umbrella insurance policies with limits from $1 million to $5 million for customers needing additional liability protection.
• AMIG (American Modern Insurance Group)coreOthersProvides 24/7 Roadside Assistance program for collector vehicles at $10 per year, covering up to $200 in towing through flatbed trucks.
• National Corvette MuseumflagshipStrategic or Co-development PartnerParent organization located at 350 Corvette Dr, Bowling Green, KY. Founded within the museum in 2009. 100% of commissions support the museum's mission. Provides brand credibility and customer referrals.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• AssuredPartners: AssuredPartners is a large national insurance brokerage that acquired American Collector Insurance and offers broad personal and commercial P&C placement including collector vehicle coverage. Comparable at the brokerage/agency model level, with significantly wider product breadth.
• Markel Insurance: Markel offers classic/collector vehicle coverage through its specialty insurance arm as part of a broader specialty P&C portfolio including motorcycle, boat, and excess casualty. Comparable overlap on the collector vehicle product, but operates as part of a wider specialty insurance book rather than a collector-only specialist.
• Chubb Personal Insurance: Chubb's Private Client Group offers agreed-value coverage for high-net-worth collectors' vehicles as part of a broader personal lines portfolio. Comparable at the collector customer and agreed-value product level, but offered within a much wider high-net-worth personal lines book.
• GEICO Classic Car Insurance: GEICO offers classic/collector vehicle coverage through a dedicated program as an extension of its standard personal auto platform, including agreed value options. Comparable product category, but distributed through a mass-market personal auto channel rather than specialist enthusiast engagement.

Direct peers

• American Collectors Insurance: American Collectors Insurance specializes in collector and classic vehicle insurance with agreed value coverage, flexible mileage, and enthusiast-focused claims handling. Same target customer (collector car owners), same product architecture (agreed value, mileage tiers), making it a directly comparable specialist.
• Hagerty: Hagerty is the largest US specialist in collector car insurance with proprietary underwriting, a multi-vertical media and events platform, and a Drivers Club membership. NCM competes head-on with Hagerty for the same collector customer and also lists Hagerty as an alternative carrier, making it the most directly comparable peer.
• Grundy Insurance: Grundy Insurance is a longstanding specialist in agreed-value collector car insurance with broad collector and muscle-car coverage. Targets the same enthusiast segment with a similar product set, competing against NCM in the agreed-value classic/collector policy category.
• Heacock Classic Insurance: Heacock Classic Insurance provides collector and classic car coverage targeted at enthusiasts and Concours-grade vehicles. Specialized focus on the same agreed-value, low-mileage collector niche with event-based involvement in the hobby community.

Emerging players

• OpenTrack: OpenTrack is a niche platform providing HPDE and track-day insurance products and integrated event scheduling. NCM partners with OpenTrack for annual HPDE coverage, making it both a channel partner and a partial competitor in the track-day insurance niche.
• Lockton Motorsports: Lockton Motorsports is a specialty insurance provider for motorsport and high-performance driving events, including single-event HPDE coverage. NCM partners with Lockton for single-event HPDE placement, making it a focused HPDE peer and channel partner.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/Ncminsurance
• Facebookfacebook.com/NCMInsuranceAgency
• Instagraminstagram.com/ncminsurance
• LinkedInlinkedin.com/company/ncm-insurance-agency

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NCM Insurance Agency