LI-Rick posted:John Nickerson '57 Beck posted:For what it's worth, I added my Beck to my USAA policy. $200 for 6 months and reduced in winter when she's stored till spring. I do not care for restrictions on using my car. I probably would not get full reimbursement in case of a total loss but I can document what its replacement value is so perhaps it'd be close. I'm willing to assume some risk to have the freedom to drive when/where I please and garage it as I please.
"If that is not an agreed value policy, which I would bet it’s not, I don’t think you will get even $5000 out of your insurance company if it is totaled. I’ve read many instances of this happening, and the result is never good for the owner. There is a reason there are specialty companies that exclusively write agreed value policies. "
I have gotten quotes from Hagarty, Grundy, American Modern and American Classics and all have driving restrictions. Also, their liability coverages are far, far below what I carry on my vehicles. A serious accident with injuries could very well go far beyond the coverages they quoted. USAA tells me that in event of a claim, their adjuster will determine what the current market value of my car is and will use that amount. This seems like a fair practice to me and what I expect from a reputable company, which I believe USAA to be.
I bought my Speedster to drive, not to look at or work on, so I will take my chances with my regular insurance.