Collectors or stated value insurance
- Thread starter sctdev
- Start date
Lespauldude
Viper Owner
+1. Contact all three and hope for a decent quote. I went with Grundy myself. Jon - is it time for you yet?
MikeG
Enthusiast
Another one that insures Vipers for the weekend warrior is an Auto Insurance Carrier called American Collectors Insurance. They too do stated value policies.
Just re-upped with BJ for a ridiculously low price for both cars with agreed value.
ACR steve
Enthusiast
You guys don’t want 'Stated Value" you want "Agreed Value"
Stated Value does not set the value of the car at the time of the loss. Theinsurance company can depreciate and or set an actual cash value of the vehicle.
Agreed Value guarantees the set value of the vehicle at the time of the loss-major difference between the two
Stated Value does not set the value of the car at the time of the loss. Theinsurance company can depreciate and or set an actual cash value of the vehicle.
Agreed Value guarantees the set value of the vehicle at the time of the loss-major difference between the two
MikeG
Enthusiast
Actually, stated value on my policy with American Collectors Insurance is Agreed Value.
I've heard before they are not the same, but upon inquiring further, I was made to understand they in fact are, at least on some policies. I insured my Viper for a specified amount, and am guaranteed that amount, period; as long as the policy is in effect. Its in writing.
So maybe it differs from state to state ...... ?
I've heard before they are not the same, but upon inquiring further, I was made to understand they in fact are, at least on some policies. I insured my Viper for a specified amount, and am guaranteed that amount, period; as long as the policy is in effect. Its in writing.
So maybe it differs from state to state ...... ?
ACR steve
Enthusiast
Mike,
It has nothing todo with the state and they are not the same. Your policy form is a stated valueform with agreed value endorsement or just include both coverage’s in the form.That’s fine but I did not want people to be misled thinking they are the same when there is major differences. I happen to write 1000's of Agreed Value policies a year and I find even most insurance brokers don’t really know the difference.
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MikeG
Enthusiast
Roger that. 
RMcGuinness
Enthusiast
Leland West...great rates...$95k agreed value on my '09 Aero
SYNFULL
Enthusiast
What Steve said. Do not be misled. When I asked about my stated value policy i was told the same thing you were(would pay the stated value if a total loss occurred). Don't believe it.
With that being said, what are you guys paying here in NY? Best quote I found Was $1136 with BJ for 75k value and $250 deductible across the board... I have USAA and it's time for a change!
Lespauldude
Viper Owner
BJ quoted me $1937.00 annual premium $78k agreed value $300 deductable (3k mileage limit). Grundy quoted me $1,000.00 annual premium $78k agreed value $0 deductable (no mileage limit) and 500K comp/collision. Had to go with Grundy at that point. Just couldn't find anything cheaper.
Scott
FastZilla
Enthusiast
I use Infinity County Mutual - 6 cars on the policy. All Agreed Value - Total "Agreed Value" ~$650k, premium ~$7500/yr with 3k mile/yr limits & $500 deductibles. Good luck.
snakem04
Enthusiast
04 viper with Grundy $700 a yr. $0 deductible and agreed value of $48000
When I called around hagerty was a lot more expensive then Grundy at the time.
When I called around hagerty was a lot more expensive then Grundy at the time.
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