Frequently Asked Questions

Short answer: Settle what the car’s worth before an accident — with the right policy. A standard book value won’t reflect a $5,000 collectible. Members recommend a collector-friendly insurer that allows an Actual Cash Value (or agreed-value) policy; one member has been happy with Nationwide, which (unlike many collector policies) let him use the car as a daily driver without strict mileage limits or “out of sight” restrictions.

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Short answer: Get an “agreed value” policy, not a “stated value” one. With stated value, you state a maximum and the insurer’s adjuster will try to appraise the car for less after a loss; with agreed value, you and the insurer settle the car’s value before any claim, so a total pays out what you insured it for.

Any proposed updates, changes, pictures, and/or corrections, please use our comment section below (may need to click on permalink to access comments feature). Information is subject to change and offered as is without any warranties or guarantees. Please review our Term's Of Use for more information.