ie above blue book valuation

 

I and every other Leland West insured does.

 

Shrek,

If you want to drive your car less than 5000 miles and for pleasure only LW is the cheapest option. Around $900.

My regular insurance co (travelers) wanted $1200 and would not do stated value.

I found a commercial insurance policy that give me far better coverages for liability, business/personal use, no mileage limit AND a stated value. cost $1600 Note: the car is registered in a company. The insurance company is St Paul, a well known AAA rated commercial company.

Rod

It was with

 

thks all

 

Classic Automobile Insurance Agency
1-800-397-0765

1995 carrera 2, 5000 miles or less.
agreed value $33,000.00
$700.00 a year

 

Rod,

You're probably aware of this, but just for the sake of clarification, its worth reminding that "stated" value is not the same as "agreed" value. Two very different things, which could come as a surprise to someone expecting to automatically receive a "stated value" in the event of a total loss.

Tim

 

Hey guys,

I have ANPAC and stated value of $31 for my 964 c2 cab and premium is $224 for 6 mos. $44k for my '97 c2s and $246 for 6 mos. Check it out.

Alex

 

If you have a rare and special car, like a RUF, how do you set the 'agreed' value? Replacement cost would be sky high.

CP

 

Why not just a professional appraisal? Or, your recent purchase price would seem to be relevant in determining insurance valuation, especially if your car is one with a RUF s/n.

Keep in mind that agreed value is not "replacement cost" in a new for old sense, but instead typically the lesser of the agreed amount (true market value) or cost to repair (not to exceed the agreed amount) in the event of a total loss. Whether you could easily find another '95 RUF to replace yours is a separate issue from its market value.

While not mass produced by any stretch of the imagination, there are certainly enough '95's out there to establish a market value, and thus, agreed value, for insurance purposes. You just helped establish that market with your purchase.

Out of curiosity, who is/was responsible for insuring the car during transit from Germany? Wouldn't the insured value of the car established for transit (if significantly different than your purchase price for whatever reason) be an approximate guide as to an agreed insurance value for your auto policy?

Good luck,
Tim