I call ********. https://www.valuepenguin.com/agreed...e is a,insure expensive and modified vehicles. "Agreed value insurance is a policy for which you and the insurer agree on the value of a covered item. The item is guaranteed to be insured for that fixed amount in the event of a claim....An agreed value policy offers a high degree of protection because age and depreciation of a car won't result in a lower payout, which happens with most car insurance policies."
https://www.jdpower.com/cars/1948/plymouth/special-deluxe/2-door-coupe Maybe you need to shop around...
while I certainly appreciate your obvious concern for my insurance coverage on my vehicles, I am confident and satisfied that my current coverage meets my needs right now.
I use AAA for my daily drivers and home. I purchased their Cl***ic Car insurance for my 56 with a stated value agreed by both in 2012 when I bought the car. The rep came to my home to see it in the garage which was fine with me. A year ago I had the value raised by almost double. The AAA rep took many photos for I’m guessing their underwriter to see the condition and modern changes that were made. I was not turned down and the premium went up $75 a year which I was happy to pay. I have put 13,000 miles on the car since bought and nothing has ever been said. I have many friends with AAA Cl***ic Car Insurance.
I have Grundy and they did ask about where it was kept. My age, driving record, usage, and area made it dirt cheap.
Lots of people don't understand the difference between Agreed Value and Stated Value. With an Agreed Value, your probably going to be OK. If you have a Stated Value, you better check to see what it really covers. Then there is the misunderstanding involving a daily driver. 95% of the cl***ic policies DO NOT cover a daily driver without some sort of restrictions. At my house we have two licensed drivers. We have 3 vehicles, one modern, and two 40s Mopars. I can put very high limits of liability insurance on my two 40s vehicles for around $400 a year. I can put one of the two on their "cl***is" insurance for around $500 a year. I can't cover both 40s vehicles under the cl***ic insurance. unless I buy and insure another newer vehicle. Each licensed driver has to have their own daily driver. I played the insurance game in the past, as a licensed insurance agent for property and causality (better known as car, home, and health) and also as a licensed life and annuity agent. Its been several years since I left those licensed lapse, but I still have a pretty good grasp on how insurance works. The game has not changed much.
I grew up with my Mom being a bookkeeper for an insurance company for 27 years ( 50's, 60's and 70's) and worked closely with the owners. I knew from a young age how shady some were and how gray areas were created for an advantage with language. That helped me greatly later in life to cut through the BS and ask the right questions. Thanks Mom...
I have several OT collector cars. All garage kept. Had a never saw snow since new F- body at the GM nationals. It won second place in it's cl***. I drove it to my daughters house a half hour away for overnight stays and the day after it was judged and awarded second place in it's cl***, being parked street side for the night, a drunk side swiped it and three other cars on his way home. He lost a tire and they followed the rim tracks to his door. I was awarded my cost of damages by a judge. The guy paid all of 27 dollars before he lost his life in a drunken head on collision. I only had Liability on it since I felt I controlled how it was used. SMH
Stuff happens. When you understand what the deal is, you make informed decisions and live with what ever happens. My stuff was all built from a pile of junk. I built it with my own two hands. If it gets wiped out, I can do it again, but the process would be a lot slower, or not at all. I can't look into the future, and I'm not sure I would if I could. I will cross whatever that bridge looks like if it ever happens. We have 3 vehicles. We can get by with one, we are both retired. Had I handed an insurance company my money for the last 12 years for full coverage I could replace the coupe with the money saved. Doesn't always happen like that, but I know how the game works and I can make informed decisions. Its all about the chances you are willing to take. I've made mine, you make yours. My concern is with people that think they have things covered with insurance that may not actually be covered the way they thought. Sure would **** to think you car was covered but wasn't. I'm simply sounding the alarm for them to actually know what they are spending their money on, and to be sure it is what they thought it was suppose to be.
I currently have 4 with agreed value insurance at about 700 a year total. If the cost becomes a problem, I'd probably sell one or park them a while. The two I'm building will probably require a change in fleet size. I repaired the car mentioned years ago and am in the middle of an engine/drivetrain upgrade on it over the winter. Insurance just prevents you from losing the ability to recover enough to regroup. I hope to never need it but I won't gamble on that anymore.
3 or 4 years ago a women made a left turn in front of me and I couldn't avoid hitting her with my right front wheel. My fenderless '36 Ford pickup. After a couple of weeks, a guy from her insurance called and said they had no way of writing an estimate for something like it so if I was going to do the work, just make out my own estimate and take pictures of the damaged parts (all bolt on suspension stuff). I did and submitted it. He called again and needed 1 more picture, the VIN number. I'm sure I wouldn't have gotten a dime if I couldn't show my ***le and registration was legitimate.
I managed to get my regular insurance company to cover my Dart but they really did not want to. It took several calls. I'm not convinced that it's really covered - the policy is extremely cheap compared to my other cars - but I needed insurance on the car to be legal so there it is. None of the cl***ic insurers wanted to do it because it's a really low value daily driver. Grundy and Hagerty both told me to take a hike.
The Jalopy Journal
