Agreed value
#1
Instructor
Thread Starter
Agreed value
I was reviewing insurance coverage on my 2016 Stingray.
Agreed value is now being offered.
$150 per year for $76,000 of coverage.
Retail was $73,300.
What say you?
Agreed value is now being offered.
$150 per year for $76,000 of coverage.
Retail was $73,300.
What say you?
#3
Melting Slicks
Or maybe that was a $150 rider on top of the original policy annual price to get an agreed value amount.
In any case, $150 p/year to protect the value, even if it is a rider on top of an existing policy, and having the value above original MSRP seems like it is a win. If your car is totaled for some reason you'll have enough money to go out and replace it should you desire.
In any case, $150 p/year to protect the value, even if it is a rider on top of an existing policy, and having the value above original MSRP seems like it is a win. If your car is totaled for some reason you'll have enough money to go out and replace it should you desire.
#4
Burning Brakes
That sounds way to cheap and in need of further detail for a reasonable comparison.
NCM Agency just quoted me a price of $540 with a 1K ded for $68,500 of coverage, garaged, GA (not Atalanta metro) . On a new GS.
Physical Damage is the major cost of insurance on a "collector car" type policy like the one NCM sells. I believe agreed value is normally more costly than depreciated value.
NCM Agency just quoted me a price of $540 with a 1K ded for $68,500 of coverage, garaged, GA (not Atalanta metro) . On a new GS.
Physical Damage is the major cost of insurance on a "collector car" type policy like the one NCM sells. I believe agreed value is normally more costly than depreciated value.
#5
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If it is $150 on top of the normal cost of the policy, that's probably not too bad.
#7
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I would expect there may be several limitations about when and how much your C7 can be driven.
#8
Melting Slicks
We need to hear back from the OP to see if it was a rider on top of an existing policy or a full collectors policy to understand.
But even on the collectors policies, like what the museum offers (and I have), while there are limitations they can be driven quite a bit. Unless it is your daily driver and/or not garaged, they are pretty flexible.
But even on the collectors policies, like what the museum offers (and I have), while there are limitations they can be driven quite a bit. Unless it is your daily driver and/or not garaged, they are pretty flexible.
#9
Melting Slicks
So far the best quote I have on agreed value was 1200.00 for 78,000 value . Must be garaged , not dd, I think mileage was 7000 miles a year. Which was about 350 more than just adding new GS to my other cars policy.
#10
Burning Brakes
The defuctible makes a difference as would location. 1,200 seems way too high by any measure.
#12
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I have AGREED value of 71,000 on my 2016 3LT Convertible ... 6000 miles a year and a rider that allows me to take it to work twice a week. I pay $629 per year thru the NCM carrier.
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Gonzo (05-24-2017)
#13
Burning Brakes
NCM is an agency. They place policies with American Modern Home. NCM does not insure cars - American Modern does.
If your quote is from American Modern then it is strange that NCM could not place the policy with AM simply because you are in NY.
Since AM is licensed to insure cars in NY then NCM should have been able to handle it.
Perhaps AM has a specific agency relationship in NY other than NCM.
The insurance business and the distribution system can be very opaque.
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obxchartercaptain (05-24-2017)
#14
Melting Slicks
as far as I know, American Modern does not own NCM so not their "parent".
NCM is an agency. They place policies with American Modern Home. NCM does not insure cars - American Modern does.
If your quote is from American Modern then it is strange that NCM could not place the policy with AM simply because you are in NY.
Since AM is licensed to insure cars in NY then NCM should have been able to handle it.
Perhaps AM has a specific agency relationship in NY other than NCM.
The insurance business and the distribution system can be very opaque.
NCM is an agency. They place policies with American Modern Home. NCM does not insure cars - American Modern does.
If your quote is from American Modern then it is strange that NCM could not place the policy with AM simply because you are in NY.
Since AM is licensed to insure cars in NY then NCM should have been able to handle it.
Perhaps AM has a specific agency relationship in NY other than NCM.
The insurance business and the distribution system can be very opaque.
#15
Instructor
Thread Starter
Agreed value
We need to hear back from the OP to see if it was a rider on top of an existing policy or a full collectors policy to understand.
But even on the collectors policies, like what the museum offers (and I have), while there are limitations they can be driven quite a bit. Unless it is your daily driver and/or not garaged, they are pretty flexible.
But even on the collectors policies, like what the museum offers (and I have), while there are limitations they can be driven quite a bit. Unless it is your daily driver and/or not garaged, they are pretty flexible.
I do not believe there are any restrictions, however I will check with the insurance company.
#16
Instructor
Thread Starter
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Borntorun04/17 (05-25-2017)
#17
Instructor
Thread Starter
#18
Burning Brakes
The company is Central Mutual of Ohio - right?
Last edited by mtaxman; 05-24-2017 at 10:10 PM.
#19
Instructor
Thread Starter
Agreed value.
Yes, Central Mutual of Ohio.
#20
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I'm certainly glad my 2014 Stingray was insured with agreed value when I lost it to a flash flood event!