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<blockquote data-quote="Anxiety" data-source="post: 2763680" data-attributes="member: 35328"><p>I'm an insurance agent for Allstate here in California, I'm only trained in and licensed for CA. however the laws/procedures will be the about the same in the other states. I'd also add that Allstate lets us broker Hagerty Insurance for classic cars.</p><p></p><p>That out of the way; in CA. when a total loss occurs the insurance company is going to settle on market value (not Blue Book), what that means is they will settle for how much it will cost you to replace the vehicle with like kind and quality. What I suggest my customers do is search a 50 miles radius on autotrader and print out comperable vehicles to support the value they expect. With a specialty vehicle you would probably have to increase your search radius. It's really as simple as that; the cool part being that the insurance company doesn't always distinguish a Cobra/Bullit/Saleen from a regular GT so the premium is lower.</p><p></p><p>I believe that the statement above about Hagerty not covering a loss that didn't happen at a show or on the way to a show is in error. They do check mileage and they don't want daily drivers, but you can still drive the sucker on the street. I'll check the policy on Monday, but I'm pretty certain.</p><p></p><p>Another note on insurance; insurance companies are starting to exclude coverage for mofications to vehicles, they only cover factory or dealership options; they have limits (sublimits) to things like aftermarket wheels and stereos. You can blame this development on the ricers out there; with the Fast & Furious crowd out there buying $15k Civics and putting $25k worth of crap on it, the whole time the insurance company thinks they're insuring a vanilla Civic. Then there's a total loss and the company is on the hook for a $40k car while charging premium based on a $15k car; well, not anymore. Get specialty insurance folks...lol.</p><p></p><p>I'm in insurance; don't let that fool you, I'm really an ok guy. :shrug: </p><p></p><p>Anxiety :rolling: </p><p></p><p>p.s. Like someone else said...read and know your policy. If you don't understand something or have questions call you agent; that's what you pay them for. Good luck.</p></blockquote><p></p>
[QUOTE="Anxiety, post: 2763680, member: 35328"] I'm an insurance agent for Allstate here in California, I'm only trained in and licensed for CA. however the laws/procedures will be the about the same in the other states. I'd also add that Allstate lets us broker Hagerty Insurance for classic cars. That out of the way; in CA. when a total loss occurs the insurance company is going to settle on market value (not Blue Book), what that means is they will settle for how much it will cost you to replace the vehicle with like kind and quality. What I suggest my customers do is search a 50 miles radius on autotrader and print out comperable vehicles to support the value they expect. With a specialty vehicle you would probably have to increase your search radius. It's really as simple as that; the cool part being that the insurance company doesn't always distinguish a Cobra/Bullit/Saleen from a regular GT so the premium is lower. I believe that the statement above about Hagerty not covering a loss that didn't happen at a show or on the way to a show is in error. They do check mileage and they don't want daily drivers, but you can still drive the sucker on the street. I'll check the policy on Monday, but I'm pretty certain. Another note on insurance; insurance companies are starting to exclude coverage for mofications to vehicles, they only cover factory or dealership options; they have limits (sublimits) to things like aftermarket wheels and stereos. You can blame this development on the ricers out there; with the Fast & Furious crowd out there buying $15k Civics and putting $25k worth of crap on it, the whole time the insurance company thinks they're insuring a vanilla Civic. Then there's a total loss and the company is on the hook for a $40k car while charging premium based on a $15k car; well, not anymore. Get specialty insurance folks...lol. I'm in insurance; don't let that fool you, I'm really an ok guy. :shrug: Anxiety :rolling: p.s. Like someone else said...read and know your policy. If you don't understand something or have questions call you agent; that's what you pay them for. Good luck. [/QUOTE]
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