Re: What do you think it is worth? State Farm-
No matter who you get insurance from do NOT get a Stated Value policy. In insurance lingo Stated value is the maximum amount that will be paid in the event of a total loss. It is subject to depreciation and adjustments based on other cars sold in the area. In the Insurance Co.s eyes there is no difference in value between a 327/210HP base Camaro and a 427 COPO Camaro. They are both 12437 series Camaros. an they will whip out the local sale paper find a bunch of 5K camaros for sale and offer you that amount of money, end of story.
You must have an Agreed Value policy, and the policy must state this in writing. Otherwise you are at the mercy of the Insurance Company. Not many of the larger companies, like State Farm, Liberty Mutual, Commerce, etc offer "AGREED VALUE" policies. They will offer you "stated value" policies where you essentially pay higher premiums for the same amount of insurance you would have had if you just walked in off the street and wanted regular insurance. The Liability, uninsured, underinsured driver portions of your insurance are extra and have nothing to do with stated, agreed or normal insurance since that part is basically collision and comprehensive coverages.
Check your policies.
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