Need Stated Value Insurance for a Daily Driver

aircavscout said:

I have a lot of cars... Agreed value on Porsche gt3rs and Alfa GTV.. I have insurance through National Corvette Museum. Pretty satisfied... Not to offend anyone here but X I only carry Liability... Use USAA on all the rest. I just don't see any value on carrying full coverage insurance on a car that can be replaced for 5-6K or less.. I would say my X is in great shape as well. But the liability allows me to drive it anytime I want with no problems. And I do drive it nearly every week. If I total it I will part it out and buy another.. IMO..

Click to expand...

Let me show you how the math on this works on a 6000 dollar car.

State farm Gives me Liablility and Full coverage on my Two Daily Drivers.
One for me and the Wife
They charge like 90 bucks for that coverage.
The Liability is on the Driver not the car.
They then just charge me 12 bucks per month extra for the agreed value coverage on every additional car in my collection.

SO you see they dont charge extra liablity coverage on the X in fact I bet my agreed coverage at 144 bucks a year is less than your liability. 1400 dollars over a decade for the peace of mind.


Not pointing this out to be a jerk. I just want you to do the math.
The only thing state farm requires is that you have your primary car with them and the rest is agreed value comp/collision added.

I pay 11.66 cents per month for Liability insurance only on the X... It's the law and I have no choice.. If I could get away legally with no insurance I would... USAA does not do agreed value. I also only carry Liability on my truck and 1 other car; both are worth more than the X. Total bill for the whole year is 420 bucks for 3 vehicles..

But I also have Home, Aircraft, Business with USAA so my cost is probably more on a total Economy of Scales, rather than a real cost analysis... Already looked at National Corvette M for liability on the other cars.. Doesn't work.. Also did analysis of Haggerty, Grundy, Chubb etc... it was exhausting.., Insurance is all about Risk and appetite for it.. Read up on the 10% rule, kind of some general guidelines...... I take nothing as an insult.. More than willing to run all the math with you anytime you want. It's your money my friend.. Spend it where you are happy! I also do tax and financial planning if you want to set up an appointment!

Hmm Not sure how it works there but

The liability policy for California covers all of your cars.

They separate it out somehow.