Twenty-seven years ago, we pioneered the limited-pleasure-use car insurance policy for enthusiasts. Classic car insurance is all we do!
They have grown again. A lot.
There's more. Our new program also covers race cars, street rods, trailers, special interest vehicles (like your Porsche tractor), kit cars and replicas.
One thing that hasn't changed is our personal service. We're here to help you.
Agreed Value is the solution. If you have a classic insurance policy - from a dedicated company that only issues this sort of policy - this should be the kind of coverage you have. Instead of Actual Cash Value, what happens instead is you and the insurance company agree on the vehicle value when you sign up - before the policy is issued and any money changes hands. In the event of a disaster, the insurance company guarantees to pay the value the two of you agreed upon before shaking hands. No ifs, ands or buts.
We said this "should" be the kind of coverage you have. You might not. To find out for sure, look in the physical damage section of your policy. Somewhere in there it will say what is going to happen if your classic car is a total loss. The exact statement should be very close to this: In the event of theft or a total loss we will pay the Agreed Value.
Thats it. Short and sweet. No wiggle room. Agreed Value is a simple idea and if the coverage is what it claims to be it should be written up simply in the policy.
So thats the good news. An Agreed Value guarantees you will get the protection you paid for.