Agreed Upon Value Auto Insurance

[llioz]

My auto insurance company, GEICO partners with Assurant for agreed upon value insurance for classic and exotic cars. Does anyone have any experience with Assurant and do you have a recommendation for an insurance company besides Hagerty?
Larry

[dinoz8]

I insure all 4 of my classics, including the Z8, with Chubb for agreed value, zero deductible. Way cheaper than Hagerty. Although I've had no claims to deal with, I've had no issues with my interactions with Chubb. Plus I get free food and drink and admittance in their customer area at the Gooding Monterey auction!

[llioz]

Chubb will not insure my Z8 because it is not 30 years old or part of a collection.

[jmosk]

This is with State Farm.

[llioz]

Is stated value same as agreed value? American Modern says that stated value is market value not exceeding the stated value. The American Modern language says that stated value is "actual cash value with a maximum limit- the stated value-and the carrier pays the vehicle market value..."

[jmosk]

Is stated value same as agreed value? American Modern says that stated value is market value not exceeding the stated value. The American Modern language says that stated value is "actual cash value with a maximum limit- the stated value-and the carrier pays the vehicle market value..."

According to my agent, this is the stated value of the vehicle which would be paid out, not the replacement value which could be lower. I try to keep the current value at what I see sales looking like each year.

[llioz]

Thanks Jay. Glad you clarified it with your agent.