Agreed versus Stated value Car Insurance- Specialty carrier vs regular car insurance carrier

[Sam Buchanan]

51 minutes ago, desoto1939 said:

Sam: Yes the agreed value is correct you get what they accepted plain and simple.  So the actual vlaues is based on the cars age condition mileage and other factors. So if the stated value was at 20K but when the total damage was done they found rust out and other things wrong they then have the rights to not pay the stated value.

 

All of the classic car policies I've had have been based on agreed value with no funky clauses....that is why I buy them instead of just adding the classic cars to my daily driver policy. I'm one of those OCD types that actually reads the policy.  ?

 

I'm not familiar with policies that have stated value or some rinky dink definition of agreed value....I wouldn't pay anything for one of those.

Edited August 18, 2021 by Sam Buchanan

[Local2ED]

On 8/12/2021 at 10:34 AM, desoto1939 said:

I would recontact Hagerty about your question of driving. I can drive my car for some pleasure driving but not for daily driving.  There are times when youhave to do a drie to verify mechanical works etc and that is covered under my plan.

 

So how is your car insured with your regular carrier? Is it an Agreed policy with no deductable and or depreciation clasues or is an agrred value with an upto clause.  Plese read you policy carefully. Since it is a daily driver you might have stated value and just like any regular car it will lose value as the car gets older.

 

Rich Hartung

 

If I can't drive my cars when and where I want their not worth owning too me.

[desoto1939]

2 hours ago, Local2ED said:

 

If I can't drive my cars when and where I want their not worth owning too me.

Local2ED:  This is your personal option to have your cars insured with any company that you wish to use.  But in life there are restrictions of what we all can do and not do.

 

The antique or specalty car insurance companies also have their policy restrictions and if you want the agreed value policy than you have to go by their rules that is plain and simple.  

 

we are just trying to educate the members so that they understand how Agreed value and stated value work within your car policies.

 

Rich Hartung

desoto1939@aol.com

[Local2ED]

I pointed out the vague answer I got from Haggarty years ago concerning "pleasure driving" as opposed to car show activities.

 

I provided my input so others can question just exactly what their getting into before a claim is made.

 

My statement of driving where I want when I want is my personal preference and not intended to tell anyone what to do.