RichGT350R
Well-Known Member
Agreed value is actually agreed value. Regardless of depreciation. It’s what your paying for. If you say you want 50k on the car, your premium reflects that.
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FruityJudy
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So you are "agreeing" with me correct?
RichGT350R
Well-Known Member
Yes.. another way to look at it is...
You purchase a Mach1. Then do 20k in mods... You want the cost of that added to your policy. So now you agree on 80k policy.
It’s a simple process, you just have to talk to your broker.
You purchase a Mach1. Then do 20k in mods... You want the cost of that added to your policy. So now you agree on 80k policy.
It’s a simple process, you just have to talk to your broker.
RichGT350R
Well-Known Member
I’m in a slightly different position then most..
My broker is a personal friend for over 25 years and he also writes our business insurance, so for me.. it’s just a phone call or text.
My broker is a personal friend for over 25 years and he also writes our business insurance, so for me.. it’s just a phone call or text.
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John Houseman
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- 1969 Cougar Convertible, 2000 F-250, 2013 F-150, 2020 F-150 PREVIOUSLY Owned 1982 Mustaang GT, 1986 Mustang GT, 2005 Mustang V-6, 2005 Mustang GT, 2005 Mustang GT Convertible, 2008 Shelby GT500,
And its not always more expensive. Try Hagerty, agreed value if it's a 2nd or 3rd vehicle.I have agreed value policies on all of my “Fine” cars.. I don’t want any bullif there is a problem. For me, it’s worth the additional cost.
RichGT350R
Well-Known Member
My broker put the Shelby with Hagerty. Easy! They know cars!
m3incorp
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I do think Hagerty has a rather low allowed yearly mileage if I remember right, so something to take into consideration. I am sure you can pay more and be allowed to drive more miles.
If you have teenage drivers in the household, this does affect insurance costs, even if they don't drive your car. I asked USAA why my insurance increased because of a teenage driver who I had bought a car from. They told me because he lived in the same residence and thus realistically could get the keys and drive any vehicle in the garage. The dang Subaru WRX insurance cost more than all my other vehicles.
If you have teenage drivers in the household, this does affect insurance costs, even if they don't drive your car. I asked USAA why my insurance increased because of a teenage driver who I had bought a car from. They told me because he lived in the same residence and thus realistically could get the keys and drive any vehicle in the garage. The dang Subaru WRX insurance cost more than all my other vehicles.
racingandfishing
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Rates are not only driver based, but based on claims from your zip code. Houston has lost 100's of thousands of cars in the past 10 years due to hurricanes and flooding. And it isn't just Houston that feels the pain, my rates went up due to how the spread some of the cost across the state after major catastrophes.
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