Agreed Value Insurance
 

Greg's comment in the "Could you drive your car 100-200 miles right now?" thread, that "If you can't drive it 1000's of miles -- you suck as a car builder....." reminded me that I wanted to ask about agreed value insurance.

I built my '68 for exactly what Greg said, long trips, possibly back to the East Coast. The car's about to get out on the road, and I've been looking into insurance. In talking to Haggerty, Grundy and other agreed value insurers, I've been told by each that they wouldn't insure my car on an agreed value policy because of "excessive use." Apparently something like the Hot Rod Power tour is okay, but long solo trips are not.

Are people not using their cars as I plan to use mine? Are they using them that way and not disclosing the use to the agreed value insurer? In short, if you've built a pro-touring car and want to actually tour with adequate insurance for the car, where are you getting your insurance?

When I had Grundy there was no mileage limit, and they never asked for odometer info. The only limit they had for driving was not to use it as a daily driver to work; every other company had that same restriction. Maybe that's changed. Have you checked with Classic Collectors or La Rue Classics? I would be curious if they have mileage limits, they're both site sponsors.

I sent an email to my contact, hopefully he'll be able to answer your question.

Both Grundy and Haggerty have restrictions on type of use - to and from shows, around town hobby usage, car club activities and both prohibited use as a daily driver or for errands.

I expressly asked about long trips, because that didn't seem to fit within what they permitted, and both said "no way." I don't want to not disclose, and then have a claim in Pennsylvania - that might be hard to explain.

And thanks for checking with your guy. I'll also check out Classic Collectors.

Agreed Value Insurance
 

Hi Mike,

In regards to your question with Agreed Value & mileage it depends on the company. The companies you mentioned we write for them & that is true in what you said in regards to mileage. We do have one company Classic Collectors by Infinity which will cover for agreed value & up 12,000 miles of usage. My partner does the Power Tour & different shows & Infinity does not have a problem with that. Most Classic Car companies are more concerned if you use your classic for daily usuage. If you like to discuss further please give me a call at 877-654-1948 ext 101. I will get back to you as soon as possible. I am a sponsor/vendor for the Good Guys show in Orlando so I can back to you after the show is over which 5pm EST.

Thanks,
Mark
Classic Collectors

Thanks. I'll call tomorrow after 5pm your time.

By the way, the quote function on the Classic Collectors site is broken.

I have had Infinity for both my Camaros since 2007 and they have been great and last I saw they offer 1200, 6000 and Unlimited mileage programs.

I signed up on Hagerty but couldnt find much info on that, guess I will have to call them. Whats the point in having a car if it just sits there? Correct me if I am wrong but dont real enthusiast drive their cars?


Anyways, let me know when you find a company im looking as well. Thanks.

I have Infinity Insurance also .... agreed value and 1200 miles/yr and it's still in the project stage, but I plan to drive it more than to and from shows.

Additionally, the agreed value increases each year ....kool.

That's my .02 cents.

I have also heard that Mecum has an insurance product but I am not able to find it on their website.