stated value insured

[Bradley G]

I'm getting insurance quotes for the rig .
Its seven hundo for liability, twelve for full coverage.
500.00 ded. State Farm.
My girl told me I could determine a value and substantiate the value with receipts.
I have spent fifteen thousand before new tags and insurance.
What did you declare your stated value ?

[Comin' in Hot]

I declared $40,000 through American Collector Car for my DBP, I figure I could get close to replacing it for 40k.

[Bradley G]

I declared $40,000 through American Collector Car for my DBP, I figure I could get close to replacing it for 40k.
You consider it a daily driver?

[RubberCtyRauder]

agreed value insurance is generally not for daily drivers as a lot of ins. companies require a 2nd car ex model year or newer. If you have a daily driver and want agreed value with it, prolly be more than what you stated earlier. I would confirm wih State farm that the price is for agreed value

[Spectragod]

Insured for 45k, -0- deductibles, $700 and change a year. Not a DD.

[MyBlackBeasts]

I would confirm wih State farm that the price is for agreed value

If it's on SF paper it's not agreed/stated value. Will be a Premium Determination policy with the insured amount being a max cap. Coverage will still be ACV at the time of loss.

[LG88]

Insured for 45k, -0- deductibles, $700 and change a year. Not a DD.

Other than the standard requirements, did you have any hesitation from Ins company to insure for 45k?

[Turbov6Bryan]

I have grundy on my 2011 mustang and its 525 a year. Zero deductible
Not a DD just toy, no mileage limit per year. I just can't go shopping or run errands with it

Just got insurance on my marauder TODAY :)

Emailed my agent, the marauder added 130.00 to my 6 month policy on my 4x4 s10. S10 is liability, and I got full coverage on the marauder safeco insurance

If you don't daily drive or plan to race at the track, call grundy
I would have put the marauder under grundy, but I'm outta garage space. 7 spots are full:beer:

[L.Mark]

When I went to insure my 79 Mark V with State Farm, I wanted coverage for @$10,000. They would give me coverage but when asked if it was wrecked or totaled would the cover it up to that amount and the said no...

[MyBlackBeasts]

When I went to insure my 79 Mark V with State Farm, I wanted coverage for @$10,000. They would give me coverage but when asked if it was wrecked or totaled would the cover it up to that amount and the said no...

Yep, see post 6.

You needed to get a stated/agreed value collector policy for what you wanted. Pays out full policy amount if totaled.

[Bradley G]

I went just liability , hell its not even running yet!
Great info guys!
The stated value was to be in accordance with the receipts I have , for the work done.

[RubberCtyRauder]

Better to get Agreed value up front on policy. Liability only doesn't cover you're ride. Stated value based on receipts sounds like a losing situation. Insurance always finds a way. IMO

[lifespeed]

These cars are getting to the point where Actual Cash Value (as determined by the insurance company) is a screw job. Par for the course, I guess. I am just about to dump thousands more into the car for maintenance/upgrades, and the thought of the enormous loss should something happen has been weighing on me.

I garage my car, but I also daily drive 30 miles a day to work. I have another car to run errands and leave in the mall parking lot, etc. Is there any such thing as an agreed value policy on a car that sees 10K miles a year? I suspect not.

[Loco1234]

When I got stated value year ago... They simply asked how much do I wanna insure the vehicle?
I believe I said 45 or 50k... I based if it were totaled what what it cost me to replace in kind...
Insurance company gave me a rate based on the amount I wanted it insured...

[lifespeed]

When I got stated value year ago... They simply asked how much do I wanna insure the vehicle?
I believe I said 45 or 50k... I based if it were totaled what what it cost me to replace in kind...
Insurance company gave me a rate based on the amount I wanted it insured...

If you included the name of the insurance company this might be useful info.