Agreed Value Insurance

[DeadVic]

Does anyone here have experience with agreed value insurance? I'm talking about Haggerty, Grundy, etc.

With a supercharger and other mods in my future my "investment" in the car will be pushing $40K with a KBB value of about $15K. I'd like to find some alternative coverage for the car should it be a total loss at some point.

Please share your experiences, comments, alternatives, etc. Thanks.

[03MERCMARAUDER]

I beleive the best thing to do would be have the car professionally appraised, they will take into account the money invested and then you will know the value. I am looking at going with Grundy for the reason that my Marauder is now a toy and wont need to be covered as a full time daily on my current insurance.

Joe

[Tallboy]

I've got my Mustang with Hagerty. It's quite easy, pick your dollar value, and they'll give you the price. Plus, their coverage comes with a decent roadside assistance plan. I'm very happy with them, and may switch the MM over...

[baltimoremm]

my 64 cadillac is through haggerty and have been pleased with the customer service, although i havent had any type of claim with them. i have 18k stated amount policy, which includes the roadside assist and comp/collision w/ no deductibles. only 228~ bucks a year. i think you may be able to use the roadside assist for other vehicles you own too.

[ezratty]

try to find someone who actually has to file a claim with the insurance company. From what i have heard they make it sound easy but when it comes time to pay up thats when they start pointing out the reasons why you aren't covered or are only entitled to much less.

I had my '66 mustang convertible insured with American Modern ins. They stipulated that the car be garaged indoors, and the garage was connected to my home. i could only drive 3K miles a year for pleasure (cruise night)not to work or run errands or even go out to eat and leave the car unattended in a parking lot.

we had an agreeded value of 12K and they did that with no appraisal, or viewing of the car in person but with 4 pictures of the car from al 4 sides.

I am positive that if I were to have lost the car in one way or another they would have screwed me, and given me much less money even though I had it insured for a small amount.

[fastblackmerc]

I have it on my '66 Corvair Corsa 140 / 4-speed. The insurance is cheap but there are "strings" attached... like I can't use it as an every day driver, shows, repairs, club meetings etc. are OK... can't just take it to the store... has to be garaged. I don't remember if there was any limit on annual mileage.

[mongo]

[quote=DeadVic]Does anyone here have experience with agreed value insurance? I'm talking about Haggerty, Grundy, etc.

With a supercharger and other mods in my future my "investment" in the car will be pushing $40K with a KBB value of about $15K. I'd like to find some alternative coverage for the car should it be a total loss at some point.

Please share your experiences, comments, alternatives, etc. Thanks

DeadVic,
An alternative would be to contact an Independent Agent & have the coverage written w/a company that will include modifications & additions (other than tires, rims, running boards..). Not all companies will offer this coverage. We currently have this coverage w/Houston General (Beacon One) who does offer this. You could keep the vehicle w/Hagerty because the premium is cheaper however the max miles Hagerty allows is 1,500 but it could be written as an Exotic Vehicle as long as you have other daily use vehicles. Just a suggestion.
Mongo