Reply to "Why so many low mileage Speedsters"

Robert M

@El Frazoo posted:
PS: re, Hagerty, if you do not mind me asking. I Assume you have a declared value and I'm wondering what you stated, and what your premium is. I'm negotiating with them on an increase of my declared value, and they want some documentation of recent prices. So .... ?

@Three Pedals (Chris) posted:
@El Frazoo I set the declared value at $55K. It might be a bit high, I have $50K into the car. I set the mileage at 2,500/year, though Lane might be right, I might have to bump it to 5,000. Right now the premium with Haggerty is $700/year.

You need to make sure it is AGREED VALUE not STATED or DECLARED Value. With Agreed Value the two of you agree on what the car is worth and that's how much it is insured for. With Declared Value you tell them what it's worth and that's their starting point for depreciation.

3/13/237:27 AM

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