Originally Posted by coastalbenddog
Quick question? I known most if not all appreciate our car's......and the priceless value they bring....however in world of insurance a vehicle value is set by industry standards and only worth "blue book" or "NADA" in the event of a bad accident and the vehicle is a total loss..(hope that never happens to anyone)....just curious if any have requested an increased insurance value on their cars....I know most insurance compaines don't budge off industry standards...if so did you get an independent appraisal? and what carrier ? Appreciate your response.
I was equally concerned about protecting the value of my mods... So I contacted Hagerty which offered a set value coverage. I can tell you for $55k coverage, they wanted about $1,000 a year to insure AND really don't want you driving the car. That was 3x's what my normal insurance was with no mileage limitations... I know people with 1st Gens (worth more than mine) that only pay them a few hundred a year. They admitted to me that they HEAVILY surcharge the new cars to offer cheap rates to the old cars.
Just last year my insurance starting offering a rider for "excess custom equipment" so I got that to protect my mods. I feel they would treat the replacement value of the car a little differently knowing it is limited edition. Every insurance company is going to be a little different...