Best insurance carrier for agreed upon value

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05-25-2021, 11:18 PM

#61

Burren

Burning Brakes

Join Date: Apr 2015

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Quote:

Originally Posted by bweSteve

this ^^^ is a bit confusing to me. which is it currently? $722/yr or $361/yr? You said in your first post that it is "Agreed Value",... which would be excellent pricing IMO. But then in your second post you said $1,500/yr for GT3 "Stated Value" of $150k,.... which I did not think they allowed you to get a specific dollar amount value for your car under Stated Value. Stated Value is usually what they decide to look up in blue book & give you whatever they feel is fair at the time (in event of total loss).

I'm paying $1,200/yr for a Agreed Value of $130k with 500k limits & low deductible, and ZERO mileage restrictions. But I want my new Agreed Value to be more like $140k in this new market. Hagerty said no.

Burren, $137 / month = $1,644 / year,... for $140k Declared Value (which I believe means same as "Agreed" value). But that premium seems high. Maybe it is because you have such a high target mileage allowance?

.... seems like lots of variances between all our policies.

I'm only 39, which is probably a little younger than most of the crowd here. And, you're right, I do have a high mileage limit for the vehicle. Compared to the premiums on my M3, Hellcat, Lexus, and wife's Acura, the price is better. I thought I got an OK deal.

Honestly, I'm not sure what the differences are on "declared" versus "stated" versus "agreed". Maybe I need to do some more research on my end and maybe there's a better deal to be had? 8Lug made an interesting point that I wasn't aware of. First "collector" car for me where the market price far exceeds the book price.