Stated Value Insurance
Thread Starter
Racer
Joined: Nov 2004
Posts: 351
Likes: 1
Stated Value Insurance
Can anyone recommend an insurance company who will insure for a stated value on a late model vette with no milage restrictions? I've checked with Grundy and Haggerty, both will not do stated value insurance on a 2004 model.
Any help will be appreciated - thanks
Any help will be appreciated - thanks
Drifting
Joined: Aug 2002
Posts: 1,299
Likes: 0
From: Stanwood Michigan
There are a couple of companies that will give you agreed value which is better than stated value.
American Modern Insurance Group through the Thum agency or Leland West or Classic Automobile Insurance Agency who has INA and Great America.
The issue with either of these will be whether you use your car as a daily driver. If not you should have no problems but if you do none of them will work.
Hope this helps
American Modern Insurance Group through the Thum agency or Leland West or Classic Automobile Insurance Agency who has INA and Great America.
The issue with either of these will be whether you use your car as a daily driver. If not you should have no problems but if you do none of them will work.
Hope this helps
Drifting
Joined: Aug 2002
Posts: 1,299
Likes: 0
From: Stanwood Michigan
Originally Posted by harleyrules
I have Grundy Ins with stated value, just double checked policy, but I also have my classic car insurance with them.
Burning Brakes
Joined: Aug 2002
Posts: 929
Likes: 1
From: West Palm Beach FL
Also keep in mind you need to be 25+ to get these specialty insurance's. I've tried them all and they won't accept you if you're my age (23). So until I can get them I'm stuck with Progressive, who is providing me with a stated amount policy.
If you can get agreed value, definitely go for it though! That is the only way you get what is fair. Stated amount is *NOT* an agreed value settlement. The adjuster will do what he can to get it lower and base your car still on actual cash value. The stated amount just gives you a little more negotiating power if you actually think you can get that much for it (the max you could receive would be the max in your stated amount, despite what the arbitrator's agree upon if you end up taking it that far in a total loss event.)
Just don't listen to what the sales agent tells you. They just want their comission and are as bad as a used car salesman, if not worse.
If you can get agreed value, definitely go for it though! That is the only way you get what is fair. Stated amount is *NOT* an agreed value settlement. The adjuster will do what he can to get it lower and base your car still on actual cash value. The stated amount just gives you a little more negotiating power if you actually think you can get that much for it (the max you could receive would be the max in your stated amount, despite what the arbitrator's agree upon if you end up taking it that far in a total loss event.)
Just don't listen to what the sales agent tells you. They just want their comission and are as bad as a used car salesman, if not worse.
Thread Starter
Racer
Joined: Nov 2004
Posts: 351
Likes: 1
Originally Posted by harleyrules
I have Grundy Ins with stated value, just double checked policy, but I also have my classic car insurance with them.
