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Talked with current Ins agent about coverage on our 55. Initially we had agreed with agent on a Agreed Value policy. Good ,we're covered. Upon reading policy as renewal time is approaching, I see policy stating ACV. I discover this means "Actual Cash Value". After further questioning another agent (same agency), I find out the original Agreed Value was only the max they would pay out upon a claim. The actual payoff would be determined by "current market value". So I ask who determines market value? "We do" I'm told. And if I'm not satisfied with that number, we go into "Discussions". Not feeling to warm and fuzzy with this situation, I contact another local agency that represents Hagerty. Giving the same conditions I'm told the Agreed Value is what I receive. Period. "no hassle". Guess I wait and see if Hagerty agrees with what I feel car is worth. If so, I'm bailing. gene bowtie-trifive
 

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1955 210 SERIES, 406 DUAL QUAD ENGINE WITH MUNCIE 4 SPEED
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I have Hagerty and all I did was send in a picture and established a value. SO far have had one claim and it was handled with no hassle, just sent picture of damage and a repair quote. Got a check in a couple of days..

I know there are different companies that support this site and I am sure they will chime in.
 

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Trifive Automotive Electrical Wiring Expert
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Talked with current Ins agent about coverage on our 55. Initially we had agreed with agent on a Agreed Value policy. Good ,we're covered. Upon reading policy as renewal time is approaching, I see policy stating ACV. I discover this means "Actual Cash Value". After further questioning another agent (same agency), I find out the original Agreed Value was only the max they would pay out upon a claim. The actual payoff would be determined by "current market value". So I ask who determines market value? "We do" I'm told. And if I'm not satisfied with that number, we go into "Discussions". Not feeling to warm and fuzzy with this situation, I contact another local agency that represents Hagerty. Giving the same conditions I'm told the Agreed Value is what I receive. Period. "no hassle". Guess I wait and see if Hagerty agrees with what I feel car is worth. If so, I'm bailing. gene bowtie-trifive
Give Heritage Insurance a call. http://www.heritageinstyler.com/. I have Grundy through them. He is a member (larry48) and sponser on this site.
Here's a thread about "Agreed Value" and "Stated Value" http://www.trifive.com/forums/showthread.php?t=105810&highlight=insurance
 

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I have Grundy as well. Agreed value was no problem, and was less than Hagerty. Every couple years I up the value, and they never ask any questions.
Had one claim, and it was taken care of quickly with NO hassles.
Been a Grundy customer for 14 years now.
 

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I have stated value with American Family. My agent, (who has 4 or 5 hot rods) told me to have it appraised and they accepted the appraisal. Nor sure what the "accepted" means now. I did have it reappraised last fall. It is covered with$250,000/$500,000 liability, uninsured and underinsured motorists, etc. Costs me $392.70 a year. $500.00 comp and collision deductible. Checked with Haggerty a few weeks ago and it was double, but was agreed value.
Still wondering what to do.
 

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I have stated value with American Family. My agent, (who has 4 or 5 hot rods) told me to have it appraised and they accepted the appraisal. Nor sure what the "accepted" means now. I did have it reappraised last fall. It is covered with$250,000/$500,000 liability, uninsured and underinsured motorists, etc. Costs me $392.70 a year. $500.00 comp and collision deductible. Checked with Haggerty a few weeks ago and it was double, but was agreed value.
Still wondering what to do.
I also have Grundy, I would suggest you give them a call. I use to have Hagerty but they kept raising the rates. When I signed with Grundy which has now been over 15 years, they cut the rate Hagerty gave me by more than have.
 

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I have stated value with American Family. My agent, (who has 4 or 5 hot rods) told me to have it appraised and they accepted the appraisal. Nor sure what the "accepted" means now. I did have it reappraised last fall. It is covered with$250,000/$500,000 liability, uninsured and underinsured motorists, etc. Costs me $392.70 a year. $500.00 comp and collision deductible. Checked with Haggerty a few weeks ago and it was double, but was agreed value.
Still wondering what to do.
What is your agreed value. I have the same liability and NO deductilbe and $44000 insured value plus flatbed towing/roadside assistance for less then you are paying. I have Haggerty. Mine qualifies as stock, not modified and they are aware of everything that is not stock on my car. Maybe that's the difference.:bowtier:
 

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Insurance

What is your agreed value. I have the same liability and NO deductilbe and $44000 insured value plus flatbed towing/roadside assistance for less then you are paying. I have Haggerty. Mine qualifies as stock, not modified and they are aware of everything that is not stock on my car. Maybe that's the difference.:bowtier:
Ditto.

Joe
 

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I also have Grundy, I would suggest you give them a call. I use to have Hagerty but they kept raising the rates. When I signed with Grundy which has now been over 15 years, they cut the rate Hagerty gave me by more than have.
First off, I was wrong. My quote was from Grundy, not Haggerty. Their quote was for $300,000 liability and bodily injury coverage, where I now have $500,000. Their quote for uninsured and underinsured motorists was $50,000 coverage and I now have $500,000. Towing, emergency road service were about the same. Grundy had zero deductible for collision, where I currently have $500.

The insurance company told me which appraiser to use. I did and paid for it. He appraised it for $100,000. Both Grundy and American family use that number.

My agent told me to get it appraised every two years, as values and markets for these go up and down. I will probably do that and if something happen argue the appraised value as my number.

I now pay $393 and Grundy's quote was $683.
 
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