I have Liberty Mutual. It cost me in the $300's for 6 months. There are no restrictions on it and the value is based on comparable sales. I was going to use Hagerty, but your car has to be in a locked garage when not in use. No gagarage here.

 

I HATE seeing this... There is a HUGE misconception about "stated value" insurance. Agents don't like to tell you about it because "stated value" policies make them BIG dollars. In my next post I'll even highlight where the "agent" who responded here confuses "stated value" with "agreed value", or possibly tries to trick you into thinking that your "stated value" policy is really an "agreed value" policy. In short, the only way to KNOW that your daily driver is insured for the full amount you pay premiums for is to have "agreed value" insurance.

Here's a primer:

Stated Value:
A value is stated in the policy, but the insurance company will pay up to that amount-and they can pay less. A Stated Value policy may pay you less than the amount you and the insurance company wrote in the policy, even if your vehicle is a total loss. Though you pay full premiums based on the amount written into the policy, the insurance company has the discretion, in the event of loss, to pay less.

Agreed Value:
The insured and the insurer agree upon a value that`s written into the policy. In the event of a total loss, it`s guaranteed to be paid, minus any deductibles. It is the only way to guarantee the value of a vehicle in the event of a total loss.

 

So, which policy is it? Ambiguous at best. Sorry Autolite4300, just wanting to clear this up with everyone to make them aware...

And for those with restricted classic car policies (i.e. non-daily drivers), us daily driver guys envy your three-digit annual policy premiums...

 

Here's some more info on the differences in the types of policies:

http://www.nadaguides.com/print.aspx...&f=5103&as=170

http://www.buyclassiccars.com/insura...chor--Ho-25621

Cheers! [sm=icon_cheers.gif]

 

someone shoot me, im a teenage boy with a muscle car and its going to be $2,197 for 6 months!

 

Ask and you shall receive!

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Sorry, couldn't resist.... I feel the same way....

 

You had better shop around. Maybe you can tell them your name is shawna.[8D]

 

lol