Antique Auto Insurance Advice

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state Farm DOES NOT sell agreed upon value insurance but stated value, its not the same thing. All you did was limit the max they will pay not the minuim. they will pay book value on a total loss not your appraisel.


Gator said:
Well I have my Antique insurance thru State farm. I have all of my insurance thru them. health ,Life, Home owners and primary vehicle. My car was appraised at $18500.00 in 2006 and my 6 month insurance premium is a whopping $104.91 and this includes towing with 50,000/100,000 Liability and 50,000 property damage with a deductable of $100 :). When I initially was looking for insurance a friend of mine told me about Hagerty. I checked it out and my insurance then would have been doubled :wack:to what I am paying now for less coverage. He has Hagerty Insurance for his 69 Dart and he is paying over $400 year and his car was appraised at $23500.. I was shocked when my agent told me what it was going to cost me. I asked is this the correct figure and she asured me it was correct... Like a Good neighbor State Farm is There...
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Ask them to show where they use the term agreed upon value in the policy, its not there

Gator said:
340srule---Oh its agreed, and have it on my policy the actual value in which it was appraised at and is insured the full amount...
And yes Ace they took a bunch of pictures and they have copies of the appraisal. They even took a pic of my license plate which is registerd as an Antique Vehicle.
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I went to my State Farm agent today and had them give me a quote on what it would take to insure my Duster at an agreed value and it seems that they are having a problem and would have to get back to me on this.......I'm really leary of what they might have to say. I'm sure that what ever they say, it will only benefit their pockets.
 
they dont sell it.

mtn_jake said:
I went to my State Farm agent today and had them give me a quote on what it would take to insure my Duster at an agreed value and it seems that they are having a problem and would have to get back to me on this.......I'm really leary of what they might have to say. I'm sure that what ever they say, it will only benefit their pockets.
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i have one of my cars insured with American collectors insurance with an agreed value policy for $40k at $150 a year.
 
I have my dart insured with American collectors insurance also with an agreed value of 19K it cost $115 a year.
 
and what is all the fine print????

some do not insure a tubbed,,,car or a blown car or a car with nitrous,,,
 
ted_sweet said:
did anyonre follow up with state farm?
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Bada Bing :-\" I just got off the phone with my insurance agent and she confirmed that my car is cover 100% of its appraised value. Now I have been with State Farm for over 20 yrs and with the same agent and she knows her stuff. She told me that it is stated in my policy which I did look at and sure enough it says total loss covered 100% of the appraised value. Like I said previously, Like a good Neighbor State Farm is There...:toothy8:
 
Since starting this thread, I've been trying to come up with a good insurance company (as good as you can find......lol) for insuring my 73 Duster once it's restoration is completed. I was trying to find a company that would let me drive my car as I wanted to and not have them tell me where I could and couldnot drive.......I called Grundy, and was told that if I drove it to work even once, it would be as if I had NO insurance and if in an accident in the parking lot, it would NOT be covered!!! I also got the same response from J.C. Taylor, Classic Auto Ins., Hagerty, American Collectors and even the underwriters of Geico........everyone of them said the same thing.
I talked to my State Farm insurance company who I've been with for over 30 years, that they COULD insure my Duster for the value that we would agree on once they review the appraisal and the pictures, etc. Also, there WAS NOT any restrictions as to where I could drive it or anything......I can also keep my regular personalized tags that I have on it.....of course the premium is higher, but I CAN drive it where I want---when I want.
All the others I checked with, said NO to pretty much anything that I wanted to do with MY car that I've spent so much money on and I want to drive it!!! NOT just look at it. In my book, that's not what restoring an old car is all about........spend money on it.....stand back and look at it...........NO. That's not for me. So, I'm going to go with State Farm and keep my fingers crossed that they are telling me the truth.
Greg.........mtn_jake
 
Gator said:
Dada Bing :-\" I just got off the phone with my insurance agent and she confirmed that my car is cover 100% of its appraised value. Now I have been with State Farm for over 20 yrs and with the same agent and she knows her stuff. She told me that it is stated in my policy which I did look at and sure enough it says total loss covered 100% of the appraised value. Like I said previously, Like a good Neighbor State Farm is There...:toothy8:
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and when you have a loss you will get low book.
 
Well glad to see someone else believes in State Farm, good move mtn jake. I also have NO Stipulations from State Farm as when and where I can drive my car or how many miles I put on it....
 
Like I stated earlier, the money & time I've got invested in my car, I want to be able to DRIVE it NOT just LOOK at it...........and think 'boy, it sure would be nice to drive over to the neighboring town to just show off a little....but my insurance company doesn't want me to. ( wonder how many hours & $$$$ they put in on my project?)..........NONE.
I may have to eat my words in the future about how good state farm is but I'm counting on them to help when the need arises.
Greg.........mtn_jake
 
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