Leland West low ball Agreed upon value quote
#46
Three Wheelin'
#47
Rennlist Member
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Am going thru the same thing right now! Never thought about the fact that I don't have an "agreed upon" value of insurance. We insure all 4 cars, house, umbrella policy,etc with AAA. The 993TT is labeled as a pleasure car but I am not aware of any use limits that are put on me by AAA. Recently, as the price and availability of these cars is being squeezed, I thought about how they'd compensate me if the car was stolen or totaled. I E mailed my agent and his response was this:
"I contacted AAA to discuss the value of the vehicle and unfortunately, the only way that they would determine the value of the vehicle would be if a claim were filed. They would take into consideration what the vehicles are currently going for in the market place, however, if a claim happened when the market value was low, you could receive a lower payout. Even if you had a current appraisal that would be limited, since they cannot insure at stated value. As I stated before, although there is an attempt at a fair settlement based on vehicle condition and current market value, this amount cannot be guaranteed.
I know that this does not definitively answer your question, but there is no way to provide the information that you are requesting. You could check Kelly Blue Book as a source, but this would not be definitive either. Any additional questions, let me know."
We then discussed doing a Hagerty policy with a stated value of $80K (car is a '97 TT black/black with HB sport seats and 58K miles) for an annual premium of $1,280 (seems high ??).
Anyway, I haven't done anything yet but am looking for guidance as well
"I contacted AAA to discuss the value of the vehicle and unfortunately, the only way that they would determine the value of the vehicle would be if a claim were filed. They would take into consideration what the vehicles are currently going for in the market place, however, if a claim happened when the market value was low, you could receive a lower payout. Even if you had a current appraisal that would be limited, since they cannot insure at stated value. As I stated before, although there is an attempt at a fair settlement based on vehicle condition and current market value, this amount cannot be guaranteed.
I know that this does not definitively answer your question, but there is no way to provide the information that you are requesting. You could check Kelly Blue Book as a source, but this would not be definitive either. Any additional questions, let me know."
We then discussed doing a Hagerty policy with a stated value of $80K (car is a '97 TT black/black with HB sport seats and 58K miles) for an annual premium of $1,280 (seems high ??).
Anyway, I haven't done anything yet but am looking for guidance as well
Seems like a bargain to me. I just asked Hagerty for a quote on my 1 owner 96 993TT 33k miles @ $100k AGV and they want $3k a year
Eff that
#48
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With Leland West I got one year newer 993TT, with two more owners, a few more than half the miles, slightly more AGV at a bit less than a third the cost. So $1250 is high IMO.
But insurance is a funny thing it is valued on many, many factors.