Quote:
Originally Posted by ACHiPo
What's your reason for not insuring your specialty cars with State Farm? I got a quote from them and it was quite reasonable (same high deductable as my DDs).
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It's never good to make generalizations - Buuttt, in general I don't think a lot of State Farm representatives understand the collector and antique car market. I think some of them get as confused over Agreed Value and Stated Value as most of us do since they seldom deal with this on most new and slightly used car insurance. It's mostly specialty companies that deal with antique and collector car coverage and insuring for an agreed-upon amount.
You want Agreed Value. Unfortunately I've heard stories (a number of them on the Corvette Forum) where the State Farm agent told them they had Agreed Value policy - only to find out after a close reading (or loss) that it was really a Stated Value policy.
I believe you can get a State Farm Agreed Value policy but they are not available in every State - and then you have to find an agent who actually understands the difference in the two policies.
If you can find a State Farm agent who can really write you an Agreed Value policy at a rate you like, then there's no reason not to go with it - beyond just the usual likes and dislike for individual carriers.