Agreed Value for High Value Car

[Arnage150]

I would think these higher value cars don't depreciate as fast as other vehicles. I have nothing to base that on.

The idea of totaling his new found love is a concern to the guy, so I told him to give me a couple of days to see what solution I can find.

Anyone have experience with Chubb and or AIG auto insurance for this type of scenario? I was unable to reach their underwriters at the end of the day yesterday.

AIG does a good job on these. They will give you agreed value. They will also give you something called "diminution of value," which I've never seen another carrier offer. It covers the depreciation from an accident. ie, your car is worth 100k but after it gets into an accident and has a blemished carfax its worth 80k. They will pay you the difference.
I just added this to a policy on a car valued at $380k and the cost for the diminution endorsement was $294.

 

[CKSINSURANCE]

Agreed value and stated value are two different things. Under Agreed value, the company will pay the agreed value in a total loss regardless of the ACV value. While stated value is the max the company will pay in the event of a loss.

I know american modern will do agreed value on exotic cars, but it can't be for daily use. the insured must have another car for daily commute.