TexasMadMan

Do you have collision insurance on your car, or do you prefer to take your chances? Possibly you have no collision coverage, but do have under insured and or comprehensive coverage.

What say you?

Thanks

Larry B.

And a poor gambler at that.... you are gambling that you will have an accident that is your fault. The insurance company is betting that you won't or they won't insure you. If you don't believe that... try telling an insurance comany that you are 23, have had 5 accidents, two DUI's and want to insure a new ZO6. :jester

killain

I've got insurance in case it gets bumped, banged crushed or cracked by anyone with any insurance, or no insurance at all. Which around here is a very good possiblity.

Marc80

Mine is in the shop but when it is out i will get it appraised and insure for full value. I have to much into it to lose at this point. Even an fender bender will cost you over 5k in one of these.

after mine was new I did not upgrade insurance. within 2 weeks an old fart pulled out in front of me. Fortunately he left a stopsign and so was cited and paid the 7000 bill for a crunched rt. fender. In the process I replaced engine, trans, suspension etc, etc, etc. Finally it will be back from the body shop. I want it fully insured and will pay to accomplish that.

Not a gambler. Not with big bucks anyway.

Brettmc

I've got full coverage thru State Farm. It's for antique vehicles. $15k stated value for $160/year.

Brett :thumbs:

LAvetteman

Antique or classic insurance is the way to go with these cars IMO.

FULL coverage.
AGREED value (you set it).

I just wrote the check for my 71 for the year. $116.50

Steve Grodin

Stated value is not the same as agreed value.
Stated Amount or Stated Value

This form of policy is frequently and easily misunderstood. It is often used on collector car policies. Most insurance agents typically represent it as being the same as “Agreed Amount.” It is not! The “Stated Amount” form states the insurance company will pay the lesser of:

1. The Stated Amount or
2. The cost to repair the covered auto not to exceed the “Stated Amount” or
3. The “Actual Cash Value”

The “Stated Amount” helps determine the premium cost.

It does not guarantee you a settlement amount that reflects the value of the car when a loss occurs. The “Actual Cash Value” language allows the claims adjuster to settle your loss for an amount less than the “Stated Amount.” Sadly, most insurance agents are unaware of this detail. Most agents, unaware of the actual policy language, will insist if your collector car is stolen or totaled, you will receive the stated value. Wrong!

Agreed Value:
Agreed Amount or Agreed Value

This is the only policy form guaranteeing you in writing what amount you will receive if your “Collector Car” is stolen or totaled during the policy period. Note there is no “Actual Cash Value” clause in the form. The “Agreed Amount” form states the insurance company will pay you, the lesser of:

1. The “Agreed Amount,” or
2. The cost to repair the covered auto, not to exceed the “Agreed Amount”.

The “Agreed Amount” should be reviewed carefully with your agent before the policy is issued. Your agent and you must agree together upon the “Agreed Amount” before the policy is issued. The “Agreed Amount” should represent the true market value of the car at the time the policy is written. If the market value changes during the policy period, the “Agreed Amount” can be changed by endorsement. Before policy renewal each year the “Agreed Amount” should be changed, if necessary, to reflect current market value.

turtlevette

you should be in jail, not driving a Z06