Yea no idea. Maybe they do some sort of random questioning sometimes? Or it’s just a fear tactic haha.
I have all of my show cars insured through State Farm with stated values or Agreed value. It was cheaper than hagerty and they where quite easy to work with. They just asked what I wanted to insure it for and after I guessed at some values they used the pictures of my cars to assess them. I think 10-12k is a good starting point and you can add to the policy as you make improvements
be very careful with "stated value" insurance. from what I remember they set your premium based on the stated value but when it comes time for a claim they don't go by stated value they go by their adjusters idea of value. There are many horror stories out there about guys who chose stated value instead of agreed value and then had a claim.
I agree. That is why I insure with State Farm. I have an agent that had been a life long friend that looks after my best interests. He helped me when my house was hit by a hail storm. Who is there to help you with many other insurance companies? Like the commercial says,”State Farm is there”
Very interesting. I did not know the difference. I will check with my agent on Monday. Thanks for the tip!
I have State Farm for my home owners and daily driver auto insurance but no way would I use them for my collector car insurance. I pay Hagerty about $170 per year for the agreed value of $22000 on my 71 and that includes towing as well as comp, collision and liability.
