My big box insurance company made me sad today...

As I am nearing renewal on my L Pantera I asked my big box insurance company to raise the stated valuation from present $60K to a higher amount. there response....


"Not so great news from underwriting.
The most is 60K for limit of liability, they are saying it’s not an original vehicle and stated it’s a KIT vehicle."

I did'nt know that the Panteras we drive were "kit" cars... Thus this makes me sad..., not made up....

Sigh......
Original Post
quote:
to raise the stated valuation from present $60K to a higher amount

A "kit car!" Sheesh!

First of all, you need "agreed value" coverage! Stated value means you state the value and pay premiums based on that value, but the insurance company doesn't agree that your car is worth that value and is unlikely to pay out that value in the event of a total loss. They will treat it as a 40+ year old car with a depreciated value.

Go to a specialty insurer who deals with our cars, such as Hagerty - lower rates, better/more coverage, and great customer service. And then, pull any other insurance policies you have with your current insurer and find a company more knowledgeable in their own business.
I was with Hagerty for years. Zero claims. A few years ago I had my agent shop their rate.

Saved over $300 by switching to Infinity. Agreed value policy. Each year I have increased the value over their automatic renewal amount. Very easy with only requirement being new pics.

Only limitation was 1200 miles per year, but works for me.

Jeff

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