NJ Collector Insurance opinions

[35thls1ss19]

wonder if i will have a problem getting it :-/ i have been putting it off for some time now and now i want to do it and they changed all the rules! i might just take a picture of the 35 Limited edition emblem on the side of the car and sent that in.

[Slow 88]

Originally Posted by Fast92RS

Try grundy I have them and they as well have no vehicle age limit or mileage limits.

How long have you been insured with grundy? I looked into them a few yrs. ago and I was told that my car was considered a "race car" lol..... So, basically they would not insure me..

[LS1LT1]

Originally Posted by ar0ck

but what bout the Triangle Inspection which really counts on the street for some of us late model people...

I have one of those on my Z28 but I never even tried for the reduced insurance rate, I might though.

[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

[WildBillyT]

Originally Posted by BonzoHansen

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

Just to add:

Given the quality of rides that Jody builds and drives, this can be considered Gospel.