well, at least i'm getting a new rear bumper :/

Shakerhood said:

I am going to get an Agreed Value Policy on my Stang here very soon. Just curious, you have yours valued at $21,500, now lets say the Woman in CVS rams your Stang so it is 100% her Fault. Is Her Insurance Company going to shell out the $$$$ to pay for your Vehicle Valued at $21,500???

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i'd have to think they wouldn't have a choice. thats the point of getting it appraised at that amount. and the point of having even the most basic level of insurance is to compensate the not-at-fault driver for ALL of their losses and give them the same car back that they had before the accident, or the cash to get a comparable car.

my dads car is set up like that...since its only driven less then 3k miles a year we had it apprised...they agreed on 9,500 if its totaled...after my car is finished im doing the same thing..

Up here it's a 3rd party appraiser and they provide the insurance company photos and their report on your vehicle as well as the estimated value based on comparable cars in the market. Its the only way to get your money if one of these cars is modified. Alot of us bought a crappy old car(me) and then brought it back to life and up to our standards. I had it done on mine when I got it respectable.

cenok is family said:

cool, thanks for the quick reply. i have full coverage through progressive. if i were to do it now, would it change my policy? like would my premium go up? or does it stay the same and just actually protect my car to it's appraised value incase of another accident?

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yeah..you will just have that added on to your policy....my dad's rate's for the stang went up like 2 dollars a month....so nonthing big.

Most companies have agreed upon value option. They are only legally responsiable for book value, so if you opt for the agreed upon value coverage your rate will go up but not much. I just went through this twice THIS YEAR! In Hawaii in Febuart my 89 GT got hit ( front drivers fender, scratch on that wheel and the drivers door got a little dammage) and the guys insurance (progressive) wanted to total it because the estimates were 4800-5400 and the car booked at $3200. I told them the car was hard to find in that shape, and impossiable for that price. They sent an appraser out and he valued the car at $5800. They gave me $5400 and let me keep the car with a clean title because the car had no structural dammage then I sold it for 3000 and moved to Texas. Then in June my 92 GTs hood flipped up and broke the cowl, widshield, dimpled the roof and messed up the hood. My new company (state Farm) would only value the car at $3300 and gave me 2900 and keep the car again with a clean title because of no structural dammage. I put on a new Cervini hood (great fit and finish) put in a new windshield and cowl vent. I then sold the car for $7500 and bought my Cobra. I am with Geico now and did not want to have a problem again (got lucky with the first one) since the book is only 6K so I had it apprasied at $10000 and submited it to Geico. With standard full coverage my insurance is $730 a year, with the agreed upon value added to it my insurance went up to $803. So for an extra $73 a year it is worth having the extra $4000 in coverage incase something happens.

Hope it helps