Classic Car Insurance

#lowrider #lowriderculture #lowriderlifestyle #chevygang #impala
TH-cam, Yes Sir back with another one! Just getting the 68 all clean up and talking about classic car insurance. May sure you check your rates. Thanks for watching.
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Follow on Instagram and TikTok as well. Switched_Up_2six

[@NJGhost34]

Hagerty all the way

[@natecox7083]

You never want a stated amount. You want an agreed amount.

[@danielturner8695]

I have a 72 firebird and a quarter me for $180 for one year

[@switched_up_2six487]

dont know what your car is worth but check your policy to make sure you are covered

[@natecox7083]

Please NEVER HAVE YOUR CLASSIC INSURED THROUGH STATE FARM, PROGRESSIVE , STATE FARM ECT.. they do not insure classic cars under an agreed amount
Please make sure you have your rides covered properly.
Insurance information; stated amount policy vs agreed amount.
My background- I have over eighteen years in the insurance industry. I currently handle bodily injury, liability and litigation claims for the worlds largest TPA. Prior to that I wrote vehicle damage estimates, handled total loss claims and liability and sold insurance policies.
If you guys ever have any questions regarding
Please make sure you're reading your policy information. Some larger carriers like Progressive, State Farm , Allstate ect provide specialty vehicles with stated amount policies. You want to stay away from these policies.
Below is some info that hopefully helps. If you have custom car always go with the agreed amount policy. That is the only way you will truly be protected.
Stated amount policies are a rip off. They will tell you if your car is 1981 or older the ACV loop hole doesn't apply-but it does.
The most common type of coverage is actual cash value (ACV). Most cars are insured for ACV, and this would be the way the cars you drive every day and have insured on a standard personal auto policy are covered for loss or damage to the vehicle. If you have a total loss, the adjuster will determine what the car was currently worth just prior to the loss, and this is the amount you will be paid for the car (minus your deductible).
Stated Amount or Stated Value
The second type of coverage would be stated amount. In many cases, an individual will ask the insurance company that insures their other personal autos to add coverage for their collector car, so the insurance company will add the car to the policy with the stated value endorsement. This endorsement changes the loss payable clause to read:
"In the event of a total loss we will pay either the stated amount or the actual cash value, whichever is less".
The company may even ask for some type of documentation to determine the stated amount at the time they insure the car, and this stated amount will be listed along with the car on the declarations page. Because of this, the insured may think this is what they will be paid if they have a loss.
But, if the claims adjuster thinks that the actual value is less than the stated amount on the policy, they will pay you the lower amount. While there are some cases where this type of coverage would be OK, this is not the type of coverage that most people want for their collector car.
Agreed Amount of Agreed Value
Most insurance companies that specialize in insuring collector cars will use Agreed Value coverage. At the time the policy is issued, the insurance company will look at the car and any documentation they may require such as photos, appraisals or receipts, and they will agree on a value for the car and insure it for that amount. This agreed value will be listed on the policy declarations page along with the vehicle information. The loss settlement clause in the policy will then read something like this one:
"In the event of a total loss, we will pay the agreed amount indicated on the declarations"
This is the coverage that you want to have for your collector car..
I have American Collectors for my Chevelle with an agreed amount policy.

[@switched_up_2six487]

thanks for all the information. yes been headache with this insurance. Don't know they have to make things so difficult. Will be looking into what i have. thanks again

[@presone2077]

Ya American Collecters I have its a good deal …

[@natecox7083]

@@switched_up_2six487
I have 40k agreed value, zero dollar deductible on comprehensive and collision, I even have spare parts coverage and I have 300/500 BIPD limits and pay $215 a year and I can drive up to 7500 miles no restrictions.

[@realtalkwithlisajohnsonhar2102]

What are you spraying on the car?

[@switched_up_2six487]

foam soap

[@Fernando-uv6ok]

Get a quote from hagerty