Agreed-Value Insurance (like Grundy's)

[homesick]

Does anyone have any experience with this type of insurance? I think you can get it now on 'drivers'. not just on garage queens and show cars.

I have a 24 year old truck that's driven daily, that's in near perfect condition. I paid 5 figures for it, but 'Full Coverage' standard insurance for it is only good to roughly $2500.

All help is appreciated.

joe

 

[Big Mama]

I’ve had it twice. Once on an 81 step side. It’s relatively inexpensive and now has unlimited miles. They’ll ask what you use it for and about your other cars to ensure it’s not a dd. The rate is lower than my regular insurance bc of that. They assume you baby it. The rate is based on the value alone and they have many plans

 

[Squirrelsmith]

Interesting. I probably have 7k into my 2 door i wonder at what point it is worth lookjng into this.

 

[Big Mama]

I’d look into it if it’s not your dd it’s garagef and worth a lot more than what you’d get if totaled

 

[grouch]

It does have to be garaged in most cases when you aren't driving it.

 

[Tonyrodz]

It does have to be garaged in most cases when you aren't driving it.

I tried to get this ins for my GN, but since I don't have a garage I'm ineligible.

 

[homesick]

That's a bummer. Mine lives in the driveway too.

joe

 

[Tonyrodz]

That's a bummer. Mine lives in the driveway too.

joe

Unless you can prove that you have it garaged somewhere else, other then your residence. They might also ask for a pic of it in the garage as proof.

 

[RST Dana]

Had it on a 61 Corvette one time. Worth the money and piece of mind.

 

[iamdub]

I should look into this. It would be kinda funny having this type of insurance on something as mundane as an '08 Tahoe. But if it's legit and financially logical, then why not?

 

[homesick]

Unless you can prove that you have it garaged somewhere else, other then your residence. They might also ask for a pic of it in the garage as proof.

Yeah, it's not important enough to me to lie about.

It seems to me like they'd be willing to cover it anway if you're willing to pay the premium. Actually, it seems to me like this style insurance should be way more common than it evidently is.

joe

 

[Squirrelsmith]

It does have to be garaged in most cases when you aren't driving it.

damn count me out

 

[Big Mama]

Like I said I had an 81 step side with a book value of under a grand but I had 8 grand in motor. It made sense to me and fortunately I never used it. You get to choose the value so value it’s replacement.

 

[Colorado Yeti]

So...still don't have an answer yet. Any companies out there that offer an agreed upon policy, like Homesick originally asked? I called Grundy's and they gave me a big negatory, ghostrider because it 's not > 25 years-old and its not a musclecar.

 

[castine917]

State Farm did agreed value for me on my 1967 camaro. Would not do it for my daily drivers or "show cars" at reasonable amounts. If you find one that will I would be interested in it.

 

[NastyNate98]

I have Allstate and they offer Hagerty for this kind of insurance. But their minimum value is 10k and you have to have a garage. If your car gets stolen overnight and it wasn't in the garage, then it's not covered. That's what they told me. I don't have a garage yet.

 

[Tonyrodz]

I have Allstate and they offer Hagerty for this kind of insurance. But their minimum value is 10k and you have to have a garage. If your car gets stolen overnight and it wasn't in the garage, then it's not covered. That's what they told me. I don't have a garage yet.

So you tell them it was in the garage

 

[cheyenne383]

JC Taylor worked well for me, my father and I have had several old toys registered with them... I'm classically challenged at the moment lol (sold everything to move back up here).

No mileage limit, must be garaged, and couldn't be the primary vehicle. I got around that with company cars and DDs, I've always had something late model around.

The most recent examples I have are before I moved back to Alaska in 2017, rates for reference were in Maryville, TN 37804.

1970 Camaro agreed value $25k
1965 Impala agreed value $10k
1972 C10 agreed value $7500

Total annual policy cost $325... stupid cheap. For comparison the 2004 Suburban 2500 and 1998 C1500 with Allstate at the time were over $900 a year.

This was with a multi line discount and paid in full annually. They required pictures of the vehicles and pictures of the "locked indoor storage location." No appraisals or other information needed. I enjoyed my JC Taylor experience from 2003-2017 and if I end up with another antique/classic/hot rod they'll be my first call.