Insurance - Agreed amount?

[Dom426h]

Are there any normal insurance co's that will give you an agreed value on your car BESIDES classic car insurance like grundy/hagerty/ect...?

 

[mad0953]

I have SAFECO and have an agreed value policy.

 

[Dom426h]

how much extra did it cost to get the agreed value with SAFECO?

 

[Venomiss]

http://forums.viperclub.org/new-owner-questions/609048-insurance-quote.html

Three pages worth-

 

[mad0953]

Safeco is 1k per year with unlimited mileage. I remove the pd and pl during the winter when I can't drive it so that makes it about $650 net. Mileage wise it's about 10 cents per mile so it's cheap in my book.

 

[Yellow32]

State Farm does this too...called "stated value policy", requires an appraiser's report.

Especially useful for older cars where the 'blue book' value is substantially less than what the car is worth.

 

[xlrashn]

I second Yellow32's response. I too have "stated value" polocies with State Farm.

 

[plumcrazy]

i have stated value on mine thru allstate but im shopping it with grundy this week actually.

my allstate guy told me thats only the point at which they start the process of devaluing it down at. at least thats what i think he said. so its not like im gonna get the 65K in a check. rather the insurance company starts with that price and over time it goes down from there. but its a lot better than NOT having the agreed value im told.

hope that makes any sense...i doubt it..lol

 

[ViperDude]

Stated value is very different than agreed value, or as it is commonly referred to - True Agreed Value.

As plumcrazy said stated value still gives the insurance company wiggle room.

True agreed value means that there is no wiggle room. If you total the car they cut the check for the exact amount agreed on. You likely will not find this policy for most late model cars, because they are depreciating, and their value is bookable.

For rare classic cars, who's techinical book value is $500 but on the market is worth $100,000 and is likely appreciating rather than depreciating, True Agreed Value is the only way to go.

If anyone knows an insurer that would do a true agreed value policy on a late model Viper please post it here! Since what a great way for your car never to depreciate. Simply drive it for a few years and then go crash it, and you get all your money back.

 

[Kenneth Krieger]

ViperDude is correct! I had 'agreed value' with Grundy, and when my 94 was totaled last year, they cut me a check for $60K. The care had 'everything" done to it, and that's why the high agreed value.

 

[Danno]

"If anyone knows an insurer that would do a true agreed value policy on a late model Viper please post it here! Since what a great way for your car never to depreciate" As someone said earlier, Safeco Insurance has an agreed value policy. The car has to be 10 model years old and driven less than 2500 miles a year. Safeco also increases the value 1.5 % every 6 months . I have my 97 B/W insured at $48,000 and I pay $335 every 6 months with several discounts like, multi car, renewal and home account credit. As with any company rates will vary on your driving record, location and credit. I am very familiar with them because I have represented Safeco insurance (and others) for 14 years.

 

[PDCjonny]

I have agreed value with Grundy on both of mine, much more than they are worth in reality.
But if one gets wrecked I want to walk right out and buy a better one, not replace the one I have.

 

[Dom426h]

Jon, Was i not clear in the OP in saying:

BESIDES classic car insurance like grundy/hagerty/ect...?

for many people that frequently drive their vehicles, vintage/collector/classic insurance is not the answer.
This thread is for them. -thanks