insurance question

[KY_Soldier]

for those of you in the US, how does your insurance company determine actual cash value in the event someone hits you?

my concern is that if someone hits me and totals the car, that i wont get back "market value" of the car (ie the only way to replace it would be to pay $30k or whatever over sticker).

other than hagerty's, does anyone have any advice on the issue. i guess it would be the opposite of gap insurance?

[99ebpsi24]

i sell exotic car insurance and the only way most exotic/classic car ins. companies will even look at giving you a policy is if your at least 25 and you have other use daily cars and drive your car less then 1-6k miles a year. you need to look into getting what is called a Stated Value policy you state the value of the car and doesn't matter how or when you use it but you'll get more then the actual cash value of the car. hope this helps you out

[KY_Soldier]

how much compared to a normal policy? I am 34, get a ticket once every couple years and definitely have several other daily drivers (not like I'm gonna take the R8 to the airport and leave it there for a week just yet). does it compare to hagerty's? I think the quote I just got from USAA is $638 every 6 months.

[99ebpsi24]

give us a call our company is called american modern insurance group were based out of cincinnati ohio were the general agent for geico's classic collector and exotic cars our number is 1-866-760-4166 my name is mike if you'd like to speak with myself about it i just did one last week for 157k for 1100 for the year

[99ebpsi24]

sorry i forgot to answer you question about hagerty...let me just put it this way..i had ins on my classics with hagerty i have a 74 z28 camaro valued at 20k and a 74 vw thing valued at 10k and i paid 473 a year with them, with american modern i pay 176 for the year for the exact same coverage

[KY_Soldier]

wow - I will call you...