Ughh - Insurance

[William B.]

Re: Hagerty

Is there anyone that can speak from personal experience, the loss of a vette while under classic insurance?

[Lenn #40977]

[Dave F.]

Re: Hagerty

State Farm insures my '68, along with other classic's I own, for a "stated" amount backed by an appraisal for fairly reasonable rates - all with no use or storage restrictions other than mileage (which is self imposed for a lower rate).

[Jack W.]

Court is Now Adjourned : ) *NM*

[Gary S.]

Re: Hagerty

USAA acts as an agent for American Collectors Insurance, based in NJ. They do this as a courtesy to us former and active military. You can get the same policy directly from American Collectors and save the $10 that USAA collects to do this service for you. You don't get better or worse service by sending your check to USAA first.

Gary

[John H.]

Re: Hagerty

Dave -

I'd check your policy language carefully - normally, "Stated Value" only caps the amount the insurer is obligated to pay, but leaves the actual amount they'll pay up to them, using the same kind of depreciation/replacement/Kelley book formulas they use for ordinary daily-driver policies - does absolutely nothing for the policyholder. "Agreed Value" is normally the policy language or rider/endorsement that establishes the amount of the check they'll write ahead of time, with no "formula" adjustments; if you have a total loss, that's the check they write - period.