Collectors insurance question

[Mr. Man]

Many of you now are starting to get collectors insurance and I see some of you have fairly high payouts if your MM is totaled or stolen. My question is, unless the car is stolen or totally wreaked like being hit at 70 mph by a semi truck will your insurance company really go the extra mile to repair your car rather than total it.

I know the simple answer is probably yes for fender bender type stuff but say the car is rear-ended and the damage is pretty bad where if you had regular insurance it would be a total, at what point is the repair considered beyond the point of no return, so to speak? If the estimate to fix is 30K and your insured for 35K do they fix it or just say here' a check?

[Spectragod]

A lot would depend upon the insurer. It would also be dependent on if parts to fix the car are available. The threshold for a total is usually around 70% of the value. I would imagine the value would be based on the "stated value", so what ever value you place on said vehicle , it would have to meet the insurance company's threshold to total.

[Bigdogjim]

Mined required a garage which they send an agent to check on.

At first they wanted pictures but then send me a letter saying there was someone in the area and had me call to make an appointment.

[nh muscle]

I would get it appraised for sure. Every little thing you put into it to upgrade it. So you have the proof I did and it layed of very well.

[vegasmarauder]

Some adjusters when they hear "obsolete" on parts (bumpers,lights, etc.) they just total it to avoid a cost overrun if it is near the 60-70% of value.

Value is in each specific policy, some are replacement value (what they can get you a similiar car for) and then stated value (you picked the amount and the premium is based on that amount).

A sharp adjuster that is a car guy can have more leeway in repair vs total.

[DWSTANG67]

Mined required a garage which they send an agent to check on.

At first they wanted pictures but then send me a letter saying there was someone in the area and had me call to make an appointment.

What company did you go with

[Bigdogjim]

^^^ Hagerty.^^^

www.hagerty.com/‎