Not sure I totally buy that extra coverage is always the answer.
I’ve had policies where they still tried to lowball me on my ‘72 Chevelle’s value, even with “agreed value” coverage. Insurance companies love to advertise classic car policies, but when it comes time to pay out, suddenly every aftermarket part is “depreciated” or “not covered.” Honestly, sometimes it feels like you’re paying for peace of mind more than real protection.“I’m glad I had the extra coverage.”
Had the same runaround with my old pickup. Paid extra for “full coverage” and still got nickel-and-dimed over every little thing when I filed a claim. Makes you wonder if the extra cost is ever really worth it, or just another way for them to squeeze more out of us. Anyone actually get a fair payout on a classic?
Makes you wonder if the extra cost is ever really worth it, or just another way for them to squeeze more out of us.
Totally get where you’re coming from. I had a similar experience with my ‘72 Bronco—full coverage sounded great until I actually needed it. They lowballed the payout, citing “market value” even though classics have a whole different price curve. Ever try agreed value coverage? I’ve heard mixed things, but supposedly it locks in the payout if something happens. Still, the hoops they make you jump through are wild...
Yeah, insurance can feel like a money pit sometimes, especially when you realize how little the minimum actually covers. I get wanting to save, but after seeing a friend get stuck with a huge bill after a fender bender, I upped my coverage. It’s annoying paying more, but peace of mind counts for something. Agreed value sounds good in theory, but the paperwork is a pain... Still, probably better than getting shortchanged if you’ve got something special.
I hear you on the cost. I tried sticking with the minimum for a while since my record isn’t great and rates are already high. Ended up rear-ending someone and the coverage barely touched the repair bill. Lesson learned... paying a bit more now, but at least I’m not sweating every time I drive.
