How do yo insure your car?

[G. Price]

I have a Turbo Regal and a Grand National. My insurance company tells me they will ony insure for Kelly Blue book value. I want to use the Turbo Regal as a daily driver and would risk losing alot if something happens. Anyone know how or with who I can insure this car for fair market value without limitations on use. I'm willing to pay extra for stated or agreed value policy. Any information would be appreciated.

 

[DKREDT]

Originally posted by G. Price
I have a Turbo Regal and a Grand National. My insurance company tells me they will ony insure for Kelly Blue book value. I want to use the Turbo Regal as a daily driver and would risk losing alot if something happens. Anyone know how or with who I can insure this car for fair market value without limitations on use. I'm willing to pay extra for stated or agreed value policy. Any information would be appreciated.

Who is your ins company? I know State Farm will insure it for stated value. There are a couple classic car insurance companies out there, but daily driver use most likely would get you declined.

 

[1987BuickGN]

Sometimes the agents for these companies can be difficult to work with. Alot of times to get an "affordable" rates, there will be limitations on mileage and provisions. I had heard State Farm would carry the insurance at stated value like you said, and with me having state farm as my auto and home carrier, I thought that would be a great fit. but they wanted almost 2k a year for a 20k stated value policy. I called Haggerty, and now have one for $450 a year, but with mileage restraints that dont really affect me because of the low mileage I drive the car to begin with.

Just some additional information......

(oh yeah, and Im 39 years old with no accidents or tickets)

 

[1987BuickGN]

Grundy is another source to try!

(forgot that from the earlier post)

 

[G. Price]

I have Travelers Insurance. Will State Farm do stated value on a daily driven vehicle?

 

[The Blob]

A stated value policy is worthless. You need an agreed upon value policy.

 

[Tom87GN]

Originally posted by The Blob
A stated value policy is worthless. You need an agreed upon value policy.

This is gospel. It's the truth. A stated value policy seems really fine and dandy until you have a claim. Then the insurance company still has the right to "haggle" you down on the value of the car.

An AGREED VALUE policy is no questions asked.....if it's a total loss due to an accident or theft then they HAVE to pay you what you've agreed is the value of the vehicle.

The only catch is that your vehicle must be a garage queen and not a daily driver. They even have language in some policies that states if you aren't driving the car to a show or in an organized cruise that they won't cover it.

 

[salvageV6]

Best option is a large insurance company, good lawyer (liar), and an inflated paid for appraisal.

Hope you never have an accident and make sure it's not your fault.

Do your own research and don't pay too much for the car.

And read the policy cover to cover, ALL the fine print.

 

[BLACK6PACK]

I don't know if Geico is just blowing sunshine up my butt, but in the terms of my contract it states "current market value". I have to show what these cars are selling for. The 2 times I turned in claims I've never had a problem. There were some things the dealer couldn't get when my car was stolen (window trim, etc) and the dealer cut me a check for book value of those items with Geico's knowledge. I only pay about $40 a month for full coverage.

 

[steveX]

my project is in its completion stage, and to tell you the truth i am willing to pay 3k per yrs for my 86 at the age of 30 with No accident. i will love to have a 30K stolen/fire coverage. I have put alot of money and tired long hours restoring it. I will hate to lose my car, god i will hate it. I don`t see how some on can haggle insurance payment. I guess when you build specialty cars you look at thinks differently.




and NO i am not a insurance sales man.