Yenko Duece

[YENKO DEUCE REGISTRY]

Kurt;
I agree, the policy that I'm getting will be a 'stated value' policy, and it requires a licensed appraisal, photos of the car, photos of the garage, ect.... After doing a fair amount of research, and shopping around, I decided to go with Parish Heacock Insurance out of Burns, TN. I'm hoping for a smooth process, all the way to the Antique License Plate from PA - ha!
M

[Dan 68 Chevy II]

Marlin,
You might want to get a quote from Albright Insurance in Robesonia Pa.They use Hagerty Insurance for classic cars,with no limit on miles you drive. They currently insure my 68 Chevy II Nova ss 396 car that you saw.I gave all the receipts to them and what I paid for the car and they insured for that,no appraisal needed but they would take if you have one.By the way no deductable either.If interested call 610-693-6621 and ask for Jodie,she's who wrote my policy.Get insurance and lay some rubber with your Yenko,they to be cleaned out periodicaly. Happy Motoring

[dinograz]

Be careful with the "Stated Amount" policy. It's not necessarily what it sounds like. I had a friend who had this type of policy and when a claim came up, the policy small print indicated that 3 sources for values would be used and an average paid out. Definitely read all the small print when insuring your cars. I would suggest getting a "Agreed Value" policy which clearly state that what the agreed insured amount is, is what would get paid out...

[YENKO DEUCE REGISTRY]

Dinograz;
My post reads 'stated value' not 'amount'. A stated amount policy will pay the 'actual cash value' (read 'blue book'!!) in the event of a total loss. A true 'value' policy will pay the 'value' that is 'stated' in the policy, which is backed up by a licensed, independant appraisal. There is an excellent article regarding the types, pros/cons of classic auto insurance written by Terry Shaw that is reprinted in the back of the Year One catalog. Terry was at the Carlisle show, and had a vendor spot for his company, Automotive Legal Service. I'm hoping to get my appraisal done this week, insured by next week, and maybe some plates by month end, (?). See you at the next show Dan.
M

[copo69]

Agreed value is the contract you should have. Under this contract the insurer is obligated to pay the amount stated in the policy. Stated value contracts obligate the insurer to pay the actual value at time of loss up to the amount stated on the policy. You may not get what you thought you paid for. Most of the specialty insurers write agreed value contracts.

[YENKO DEUCE REGISTRY]

COPO69 is correct, the key is a 'value' policy vs. an 'amount' policy. Some policys call it a 'stated' value while others call it 'Agreed' value, from what I understand it's the term 'value' that is important. No luck yet with this process, looks like I'll have the insurance but no tag by the next cruise-in - back on the trailer, no burnouts!
M

[copo69]

Marlin, Actually the key is agreed vs stated. Stated amount or stated value is the same thing. Agreed amount contracts mean you and the insurer have agreed on the value of the item and that is what they will pay in event of total loss.