Larry P

I'm with a friend and at State Farm with my 60 insured for $50,000.
I have added the restored hard top and am getting the soft top.
I want to raise it to $60,000 and agent wants an appraisal. Total body off, and restored to correct. I don't think that is unreasonable and resent having to pay for an appraisal. Haggerty charts calculate it to be closer to $70,000. I hate to abandon my friend, but---
If I must get an appraisal, who do you recommend in the St.Louis area?
Larry

GCD1962

If there is a claim it is with State Farm, not your friend. Also, is it an agreed value policy ? I would stick with Hagerty (other collector insurers) that have an excellent, no hassle claim system if you need it

Adam Boca

Stay away from a Stated Value policy like you currently have. Go with a Collector Car Insurance Specialist who deals with Corvettes or other Collector Cars on a daily basis. We write collector car insurance here at the National Corvette Museum. Agreed Value protection, no appraisals needed, and no problem going to $70K on your Corvette.

Check us out online at www.ncminsurance.com or give us a call at 877.678.7626.

Thanks!!

Adam Boca
National Corvette Museum Insurance Agency

Rokndad

That's what we're talking about. "Ageed Value". The only way to go.

RatDog

mallie

Go with Hagerty. No hassle. You can insure it for whatever you want, they only require a recent photo of the car. I initially was going to go with Farmers (my insurance for my every day car and home), but it was actually more expansive, coverage not as good and they needed an appraisal too...

62Jeff

Give Adam a call, I moved there from Hagerty and so far(no claims) am very happy.

Larry P

I already have and it looks like that's what I will do.
Thanks,
Larry

Biggus Blockus

BS!

If your State Farm policy is written in the Antique and Classic program it has AGREED VALUE. Don't listen to mis-information like this combined with an obvious sales-pitch. Check with your agent - but I'll bet your policy is just like mine (also with State Farm)..Agreed Value.

jdk971

i have mine with cincinnati ins. if i need a appraisal i would take the vehicle to my agent
and they would have a inspector there. that is what my agent said, but they did not need
a appraisal. jim

RatDog

There may be differences in available coverages from state-to-state.

Oaker57

Biggus, you may want to double check with your agent, my State Farm agent said they can't do an agreed upon policy.....and I have EVERYTHING else with him. He couldn't help me, so I went with Grundy, no appraisal and all they needed was a picture. Very reasonable too!!!

Unless, like someone else mentioned, it's a state to state thing.

Larry P

I do have an "agreed value" policy with State Farm at a very reasonable price. The problem is that I want 60K and agent says they won't do that without an appraisal. After researching I have realized it needs to be more like 70K. Quote from Corvette Museum Insurance with Adam Boca is very reasonably priced and a few more benefits.
Larry

mikey

I have agreed value with state farm, but I had to get an appraisal when I wanted to significantly raise the value after restoration. The money I spent on an NADA appraisal was budget dust compared to what it will cost to replace the car if I'm ever unlucky enough to have to call that one in.. state farm worked out best for me after shopping around. All of my other policies are with them and I've never had any claims that didn't result in my total satisfaction.

YMMV, insurance varies a lot state to state.

ohiovet

I have had State Farm Ins. for many years.
All 4 of my Corvettes have agreed upon value, no appraisals, no BS.
My agent takes pictures every few years and we are all happy.
The other important thing is that I can suspend my liability insurance while my car are garaged during the winter. Saves some money.
A good agent is very important.

dahogan

FWIW.....Last week I increased my agreed value by $5k. Hagerty didn't need an appraisal.

RatDog

On October 25, 2012 when Hurricane Sandy was approaching the US, I got this email from Adam at the National Corvette Museum. As it turned out Sandy didn't affect Florida and I realize protecting these valuable cars benefits the company but I appeciated getting this offer and the concern. I've lived in Florida for over 40 years and none of my other insurance companies have ever contacted me ahead of a hurricane:

================================
Attention Valued NCM Insurance Agency Customers:
Disaster Relocation Reimbursement for NCM Insurance Customers
Areas in Florida, South Carolina and Georgia Affected
We have NCM Insured Customers in our thoughts who are residents in various cities in Florida, Georgia and South Carolina, near possible damage of Hurricane Sandy. Although we are unable to increase coverage or lower deductibles on existing policies – we do have a plan in place to help make this stressful time a bit more manageable with regards to your prized collector cars.

For NCM Insurance customers who are in the path of this storm, we have made available relocation expense reimbursement that provides reimbursement for 50% of the temporary relocation costs when moving NCM Insured collector cars to a safer location, subject to a maximum of $200 per collector car and $2,500 per policy. Claims regarding reimbursement should call (800) 275-2075 or can submit their claim via the NCM Insurance office orwww.amig.com. Please retain all invoices, receipts and incurred costs with regards to any damage.
Our top priority is offering personal attention to the needs of our customers – in all situations – good and bad. Please let us know if you are affected by the storms and are in harms’ way - and please stay safe.
===================

GCD1962

Those who insure with State Farm or other regular carriers need to check on a couple of things when comparing to collector insurers.

1) Collector insurers only charge you once for liability coverage even if you have multiple cars with them.

2) Collector insurers typically have a $ -0- deductability for claims

3) Collector insurers allow you to use the repair shop of your choice, which typically is more costly.

4) Cost drops dramatically with Collector insurers when you have more than one car with them.

Does State Farm or other regular insurers offer all the above?

Adam Boca

I have several State Farm Agents insured, I feel like that is 'nuff said.