NCM INSURANCE - ZR-1 Net Registry Forums

dredgeguy · 07-05-2021

I sent a message to my State Farm agent asking if my policy was stated value or agreed upon value. Marty's comments gave me some concerns. However, my agent came back with:

Agreed Value

When the agent recommends antique or classic car insurance based on eligibility, the insured and State Farm will agree on the value of the car. If the car experiences a covered total loss claim, State Farm will pay the agreed-upon value, rather than the actual cash value of the car as long as there is no prior damage to the car, parts have not been removed, and the car's condition has not deteriorated because of abuse or neglect.

07-05-2021	#11
dredgeguy Join Date: Aug 2012 Location: Ellicott City, MD Posts: 1,716	Re: NCM INSURANCE I sent a message to my State Farm agent asking if my policy was stated value or agreed upon value. Marty's comments gave me some concerns. However, my agent came back with: Agreed Value When the agent recommends antique or classic car insurance based on eligibility, the insured and State Farm will agree on the value of the car. If the car experiences a covered total loss claim, State Farm will pay the agreed-upon value, rather than the actual cash value of the car as long as there is no prior damage to the car, parts have not been removed, and the car's condition has not deteriorated because of abuse or neglect. __________________ Charlie __________ Dredgeguy WAZOO Member 1992 Bright Red/Black ZR1 #246 Dana 4:10 gears Polished LT5 by Haibeck Polished Fikse FM5's with Michelin Pilot Sport 2 Stainless Works headers and cats with Corsa