Reply to "Classic Car Insurance with Approved Value"

Robert M

Troy Sloan posted:
This is the first I've heard that AAA offers an Agreed Value policy. Does your declaration page actually say unrestricted mileage with no stipulation about "pleasure driving" only?
@MusbJim

I read it as @musbjim and his insurance agent have agreed that if something happens to his car the agent is going to find "similar" cars to determine the value. If his insurance agent knows the car isn't a VW and agrees to insure it and something happens to it Jim will be able to get the value of his car based on what used Speedsters are selling for.

This happened to me with a trailer I owned that was totaled. The insurance company came in with an offer and I showed that that based on the trailer specs their number was too low and they paid me the figured I showed because it was based on market demands.

Jim and his insurance company haven't "Agreed" on a set amount for his car. They've agreed that he'll get what the market bears to replace his Porsche Speedster replica.

7/18/192:41 PM

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