Agreed Value $$$$$
Thread Starter
Burning Brakes
Joined: Mar 2007
Posts: 984
Likes: 1
From: SAN FRANCISCO CA
Agreed Value $$$$$
according to the latest postings in corvette magazine, my car is worth roughly $40,000. when i give my insurance the "agreed value" is this the value i should give them? is there any reason to give them a higher value like $50,000 or something to cover any *hidden* costs or things i may not be thinking about. all you guys out there that have had claims (unfortunately) what did your experience teach you?
my other question is... do i need to keep on updating this value with the insurance company as time passes and the value of the car changes?
THANKS AS ALWAYS
my other question is... do i need to keep on updating this value with the insurance company as time passes and the value of the car changes?
THANKS AS ALWAYS
Melting Slicks
Joined: Jun 2000
Posts: 3,431
Likes: 298
From: MN-C3, AZ-C7
Are you already insured with a collectors policy?
When I finished the restoration of my vintage motorcycle I needed to send in invoices to substantiate the increase in value I asked for.
An appraisal would probably be in order for your car.
JU
When I finished the restoration of my vintage motorcycle I needed to send in invoices to substantiate the increase in value I asked for.
An appraisal would probably be in order for your car.
JU
Drifting
Joined: Oct 2007
Posts: 1,254
Likes: 5
From: Brown Summit North Carolina
I would go a little higher
I suggest that you get a quote for a value a little higher.
It may only be another 50.00 a year for 50K.
These cars are going up in value rather fast and I would want to be off to my favor not Haggerty's
David
It may only be another 50.00 a year for 50K.
These cars are going up in value rather fast and I would want to be off to my favor not Haggerty's
David
