Sad goodbye to Luci ...

[LucidNC]

There are some insurers that offer agreed upon value. Hagerty and Pure come immediately to mind.

Correct. I have PURE ... especially important when covering "classic" (or otherwise "high-value"/"hard to replace" automobiles). In my case, w/ Luci, the "Agreed Value" was indeed higher than the amount shown on the Market Value Report.

That said, no matter what, losing a car (especially when not at fault) is never pleasant and you certainly don't recover what you had in it (custom wheels, PPF, etc.)

 

[borski]

Agreed Upon Value? Are you an Attorney? Did you have a special clause in your insurance policy? Insurance usually pays the wholesale value which for a GT is around 80K these days. Search ok KBB says trade in price is 70-75K.
Glad to hear you were not affected physically and Financially.

Many insurers pay “actual cash value,” which is what you’re referring to. Many other insurers pay “agreed value,” which is what I and many others have.

If my DE gets totaled today, I get paid back $115,844, but that’s after I’ve had it for over two years and had an accident.

 

[Instinctive]

Many insurers pay “actual cash value,” which is what you’re referring to. Many other insurers pay “agreed value,” which is what I and many others have.

If my DE gets totaled today, I get paid back $115,844, but that’s after I’ve had it for over two years and had an accident.

We have a "replacement assistance" option to get x% added to cash value of vehicle for $y premium added. We self-insure most things other than health, so we only carry a fairly basic insurance package and don't add that one, but it is available.

 

[borski]

We have a "replacement assistance" option to get x% added to cash value of vehicle for $y premium added. We self-insure most things other than health, so we only carry a fairly basic insurance package and don't add that one, but it is available.

PURE doesn’t have any other option other than agreed value, since they’re a HNW insurer. They’re not inexpensive, but I have yet to breathe a deep sigh before they are paying out for whatever the issue is, so it’s definitely a “you get what you pay for” scenario.

 

[Sam6062]

Many insurers pay “actual cash value,” which is what you’re referring to. Many other insurers pay “agreed value,” which is what I and many others have.

If my DE gets totaled today, I get paid back $115,844, but that’s after I’ve had it for over two years and had an accident.

Good to Know. Thanks. I am assuming that also requires a higher agreed upon premium?

 

[borski]

Good to Know. Thanks. I am assuming that also requires a higher agreed upon premium?

It varies. Given the rates in CA, my bundled rates are *a bit* higher than they used to be, but not actually all that much higher than other insurers given the rate hikes. My rate hasn’t gotten hiked, even at renewal, so while it started a bit higher it has remained more stable, and includes my homeowners, umbrella, jewelry/art/collections, and auto.

As always, shop around.