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rfuerst911sc |
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Advanced Member ![]() ![]() ![]() ![]() Group: Members Posts: 2,158 Joined: 4-May 06 From: Dahlonega , Georgia Member No.: 5,980 Region Association: South East States ![]() |
Hey guys I'm in Marietta Ga. for the weekend getting the wife settled in temp housing until we move. I've been trying to get insurance quotes from " conventional " ins. companies for the new house, the daily drivers and the two Porsches. While some of the quotes have been competitive on the Porsches I know I can do better. I just got a quote from Leland West for an agreed value policy on both Porsches for $30,000.00 each and the yearly premium is $320.00 each. This sounds pretty good. I have limited time to " internet search " this weekend so I thought I'd reach out to the world. Grundy was WAY higher and I'm waiting to hear from Heacock insurance. Any others to consider ? Neither Porsche is a daily driver and both will be kept/stored in the garage. I'm the only driver. And if an appraisal is needed how/where does that get done ? Thanks guys.
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PlaysWithCars |
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#2
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Senior Member ![]() ![]() ![]() Group: Members Posts: 536 Joined: 9-November 03 From: Southeast of Seattle Member No.: 1,323 Region Association: Pacific Northwest ![]() ![]() |
Read the fine print as posted earlier, particularly when considering a "stated value" and an "agreed value" policy. The insurers responsibility is significantly different between these two types of policy.
As I understand it: Stated Value - you pay the premium based on the "stated value", if you have a claim (assuming total loss) they pay based on the adjusters assessment of value. Agreed Value - you pay the premium based on the "agreed value", if you have a claim (assuming total loss) they pay based on the agreed value. The stated value plans seem to be very biased and leave the customer with all of the risk. |
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