[BonzoHansen]

Originally Posted by maroman88

i just up'd my agreed value last year

Just caught this elsewhere and completely jives with what others have told me. I suggest you read the fine print just to be sure.

Originally Posted by camcojb

the biggest problem is you don't have an agreed value policy; Allstate doesn't offer agreed coverage. Oh, you agree to a value and make payments on same, but it is not a true "agreed value" policy.

This comes up on many sites, and no matter how much I try to warn people they still swear that they have agreed value coverage when they really have stated value.

I personally have had Allstate for 25 years but not for my classic cars. That is why Grundy, Hagerty, etc. exist, as they offer a true agreed value policy that State Farm Allstate, etc. do not have. The problem is it's confusing and many people believe their coverage is different than what it really is. If in the policy they say something similar to this you do NOT have agreed coverage:

1. The actual cash value of the damaged or stolen property as of the time of the “loss”;

The cost or repairing or replacing the damaged or stolen property with property of like kind and quality; or

2. The amount shown in the schedule.

You'll notice they have the right to look at "comparable" vehicles, determine ACV, etc. This is the tip off that they are going to find other cars like yours and if they're less money then that's what they'll pay. A true agreed value policy does NOT have this wording; in a total loss you get the amount of the policy period, no ACV, comps, etc.

Here's a link with more info.

http://www.faia.com/web/2005/08/stat...eed_value.aspx

Jody