Agreed-Upon Value
Thread Starter
Melting Slicks
Joined: Dec 2011
Posts: 2,509
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From: Western New York
Agreed-Upon Value
I have been calling around to get prices for Agreed Upon Value policy for my stock 2004 Corvette with 15,500 miles on car. I'm wondering what your thoughts are on the Agreed Upon value amount. My figure I have been using for comparing prices is 25,000. That amount is more than I paid for car and would allow me to replace car if needed. Thanks David
Instructor
Joined: Jun 2007
Posts: 179
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From: Guntersville Alabama
I personally think that $25,000 even for a low mileage car is a little high. Is it a ZO6? Is it a Convertible? Either one will raise the price some over a Base Coupe. You can try and get them to agree to that figure. If they do disagree they may ask for an appraisal.
Give it a shot, they want your money so they aren't going to get mad or something. Good Luck and let us know how it goes.
Roland
Give it a shot, they want your money so they aren't going to get mad or something. Good Luck and let us know how it goes.
Roland
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I have an agreed upon value policy through the NCM on my '03 coupe. I asked what the value range was that they would cover and they said anywhere from around $19K to $29K. I compared prices for various agreed upon amounts and decided to go with the $29K amount. Total cost of the policy, with more than minimum limits and zero deductibles was $418/year with 3K miles allowed. That premium was about $15 more than what I was paying through my previous insurance company with no agreed upon value coverage.
Thread Starter
Melting Slicks
Joined: Dec 2011
Posts: 2,509
Likes: 946
From: Western New York
Hombre and Vetteman Jack, Thank you for your responses. Hombre it's a coupe. Vetteman Jack I tried NCM awhile back and was told they don't or can't insure in NY State. What I'm finding is I can get agreed upon value policy for less than current policy third car in house hold "pleasure vehicle " with everything being the same except for now having a greed upon amount, 5000 mileage a year and must be kept in locked garage . None of the restriction are a problem for me.
Thread Starter
Melting Slicks
Joined: Dec 2011
Posts: 2,509
Likes: 946
From: Western New York
tcrote5516 Thanks for response so far it seems the best quote has a mileage restriction of 5000 miles which is not a problem with me. I don't come near that in mileage anyway.
Thread Starter
Melting Slicks
Joined: Dec 2011
Posts: 2,509
Likes: 946
From: Western New York
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Thread Starter
Melting Slicks
Joined: Dec 2011
Posts: 2,509
Likes: 946
From: Western New York
I have an agreed upon value policy through the NCM on my '03 coupe. I asked what the value range was that they would cover and they said anywhere from around $19K to $29K. I compared prices for various agreed upon amounts and decided to go with the $29K amount. Total cost of the policy, with more than minimum limits and zero deductibles was $418/year with 3K miles allowed. That premium was about $15 more than what I was paying through my previous insurance company with no agreed upon value coverage.
Thread Starter
Melting Slicks
Joined: Dec 2011
Posts: 2,509
Likes: 946
From: Western New York
sfc rick I have seen your car in many pictures on this forum and it is beautiful . White / red is my favorite color combo. I thinking 27,000 agreed upon value is a good amount for a stock 2004 coupe with 15,500 miles. I'm just looking to get back enough to buy replacement if needed.