With all the banter over the price to play going up I got to thinking maybe my Agreed Value on my car was a bit low. I called my ins man and he asked what I thought the current value was and I told him I wasn't sure but thought the $22k from several years ago might be on the low side. He said how about $30k and I said I wasn't sure... He said he'd run it by Hagerty and see what they felt based on the previous agreed value. He just called back to tell me Hagerty felt that $30k was a fair value but it would bump the cost of the premium from $185 to $225 if I wanted the additional coverage.

I'm not sure I'm in complete agreement with value set but I can live with it if something happens! ;) You too, might want to take a look at your classic's coverage and bring it up to date if it's under valued.

Did the same thing Dennis about a month ago. Watching things on ebay gives you an idea that if our cars got totaled, you cant replace them for our old value on the policies. I upped mine from $20 to $25,000, the ANNUAL premium went up from $203 to $275 but that includes their $30 fee for trailer bed towing, and I raised my liability limits too. Still not bad for a years coverage with no deductible.

[ 03-16-2004, 06:30 AM: Message edited by: click ]

This thread got me thinking about what I felt my car was worth to ME if anything happened to it. I have a pretty good idea what the car is worth on the open market but I would never consider selling it for that price. Will an insurance company let you insure a vehicle for what it's worth to YOU? I called my agent and bumped the stated value by 5K anyway (which puts it at about market value), which raised my premium by a wopping $6.33 per month.

Scott.

I've been thinking along the same lines since my insurance coverage is up for renewal soon. I suppose that leverage could gained (if needed) with the recent upgrades and repairs that have been done on my car.

Are these prices you guys are quoting for 6mo or for a year?

$40 xtra a year for $8000.00 more coverage?...What is there to think about?

Well, My insurance has mine @ ~12k replacement value. After all this work and $$ I've been funneling into it, I think I'll up the anti and pay the additional premiums when I finish with the paint job. (Denis G., my premium is 11 bucks a month ongoing. It's insured with Country Mutual
p.s. I'm still amazed over your recent purchase ya scurvy dog!lol
;)
Dan B

Originally posted by deejaygee:
Are these prices you guys are quoting for 6mo or for a year? Denis - my cost per year is $225 for a no dedectable agreed value policy with a value of $30k. That's no deductable collision and other than collision with $300K each libility and uninsured motorist per accident.

The policy is through Hagerty and underwritten by Glen Falls. Although the initial interview required I acknowledge I would not put more than 4000 miles on the car per year, would not use it as a primary mode of transportation (no commuting to work or grocery getting), I had to have another vehicle for a driver, house the car in a garage, no racing and had to state what percentage of pleasure, club, carshow and parade usage I thought the car would be used for. They never took mileage after the first year. And I can't find mention of any restrictions other than racing in the policy.

I was told if I decided to have the tires rotated or planned to attend a cruise in in the evening that would be all I needed to be allowed to drive the car to the office that day. Same if I was on a pleasure cruise I could stop at the grocery or deli...

If anyone was thinking of going with any form of classic car insurance, Hagerty or otherwise, use a broker as when the interview questions are asked they know how to answer them. I have heard so many state that they filled out the online questionare and be turned down. The broker isn't lieing just stating the answers using the right wording...

Well, I wish I could do that, but I can't even get classic car insurance. To get the classic rate, you have to have another car to use on a daily basis. But, that car can't be over 20 years old, so I'm out. My other car is a 66 GTO. They won't let me use my wife's car, even though my wife works from home and I drive her car more than she does. And they won't count my Harley as daily transportation either. Every person in the house has to have one relatively current car before I can insure my Camaro (or GTO) as a classic, so I'm stuck. I pay about 1000 a yr for the Camaro and about 1200 for the GTO. I'm with ALLSTATE, and agreed value for each car is 30,000.00. Plus I run 100/300. So I am out of luck! graemlins/clonk.gif

Progessive doesn't even offer a classic car coverage. But it is not bad the coverage I have for my age, listed 5k on the car because I am still tinkering with it, I can drive it any old time, and it is about 324/per 6 months.
cheaper than the van but more than the truck...go figure graemlins/clonk.gif

I can't even get my car covered down here. Makes me sweat a little bit when I take her out.

I bumped mine up to 50 some time back. Do any of you know what a 69 396 375hp Chevelle is going for now I just got one and am trying to make my mind up if I wount to keep it or not.

TIM

RiaMonster,
Please tell me more about your Progressive insurance!