"Set Value" Insurance for my Marauder

[Architect]

My 2004 Marauder with 116,000 miles WOULD BE classified as "totaled" with only a small bit of damage because they have obviously been devalued as they have gotten older... Like most cars...
So I talked with my insurance carriers and suggested a "set value" policy.
I set the value.. and their rate is based on that amount. They said they could do it...... probably going to be a bit expensive. BUT I WANT TO DRIVE MY CAR, NOT HAVE IT SIT IN THE GARAGE. Pretty soon I will have to spend money for engine, transmission, restoration etc.

Anyone else doing something like this...???

[RubberCtyRauder]

many here have agreed value, if you drive daily or to work it may not be covered, better check it, the small print as they say. Hagerty, Grundy are collector car ins. companies with agreed value, but they cant ve daily use or back up use. must be garaged. must have proof of later model daily car.

[Architect]

Thanks... good information...

[johnnyrauder]

mine is ins. for 20k from headcock. but it has a 3k mi. per year limit. and i have to have a other car in my name

[2,4shofast]

I have set value on mine as well but there are several caveats that have to be met for pay out. The only one that I really worry about is that with my coverage it cannot be stolen and paid out. Needless to say I don't park it very many places.

[johnnyrauder]

I have set value on mine as well but there are several caveats that have to be met for pay out. The only one that I really worry about is that with my coverage it cannot be stolen and paid out. Needless to say I don't park it very many places.

no theft? thats pretty important.

[stevengerard]

no theft? thats pretty important.

Never heard of that. What good is no theft - I'd ask again. Even in a garage if someone wanted it bad enough in today's world they would get it.

[sailsmen]

"Stated Value" usually is the max the insurance will pay when they want to under insure a car.

[2,4shofast]

Never heard of that. What good is no theft - I'd ask again. Even in a garage if someone wanted it bad enough in today's world they would get it.

I asked for clarification a few times, what they don't want is people driving the cars other than to shows or events. So if I took the family to a movie and it was stolen, they wouldn't pay out due to the amount of fraud they get with collector getting "stolen" when parked in public places.

[stevengerard]

Hmm, ok that makes some sense but boy that is real limiting. We have these cars to enjoy. What good is a car if its only driven to a show. yes I know there are folks who have those cars and that's fine. Just not for me.

[justbob]

If I had an "only for show car" it sure as hell wouldn't be a Mercury Marauder! More like Joe's AC Cobra...


Sent from my iPhone using Tapatalk

[MERCMAN]

State Farm quoted me $168. per 6 mos. 3000 mile limit, 500 collision deductible, 100 deductible comp. Stated value of 20K. Good deal???

[Comin' in Hot]

$40k agreed value, no mileage limit, $602 a year.

[WhatsUpDOHC]

$40k agreed value, no mileage limit, $602 a year.

What carrier?

Sent from my SM-G900V using Tapatalk

[Comin' in Hot]

What carrier?

Sent from my SM-G900V using Tapatalk

Sorry lol, I was sitting in the waiting room at the dentist and they called me in as I was typing.

I have Grundy, the vehicle must be garaged and can't be used for work or school or anything like that.