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Insuring 430 for Actual Value

Discussion in '360/430' started by littlewiz, May 11, 2006.

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  1. littlewiz

    littlewiz Karting

    Apr 9, 2004
    86
    #1 littlewiz, May 11, 2006
    Have June Production 430 Spider coming. What have other owners done with their insurance re Theft coverage and value. If car is selling over sticker and it gets stolen how do I cover replacement cost if I have to go into the resale market to get car?
     
  2. GCalo

    GCalo F1 Veteran

    Sep 15, 2004
    7,645
    Northern California
    Full Name:
    Greg Calo
    #2 GCalo, May 11, 2006
    You can't. $ over sticker is out of your pocket.

    Insurance company will insure for manufacturer's sticker price only!
     
  3. 483hp

    483hp Formula 3
    Owner

    Aug 17, 2005
    1,428
    www.fca.alberta.com
    #3 483hp, May 11, 2006
    I asked about this with my insurer. I need to get an independent appraisal, then I can use that to justify the replacement value. If anything happens, I get that amount.
     
  4. barryf43

    barryf43 Karting
    Silver Subscribed

    Oct 10, 2005
    65
    Plano, TX
    Full Name:
    Barry Fromberg
    #4 barryf43, May 11, 2006

    I gave my agent a copy of the invoice and I'm covered for replacement cost.
     
  5. Dan Ciezniewzky

    Dan Ciezniewzky Formula 3
    BANNED

    Sep 6, 2004
    1,351
    Indianapolis
    #5 Dan Ciezniewzky, May 11, 2006
    simple,
    agreed upon value
     
  6. traderf430

    traderf430 Karting

    Feb 4, 2006
    51
    WA
    Full Name:
    bob
    #6 traderf430, May 12, 2006
    I am insured for replacement/agreed value on my spider
     
  7. m3m3m3

    m3m3m3 Rookie

    Jun 22, 2005
    23
    #7 m3m3m3, May 13, 2006
    What insurance companies are you guys using? Thanks!
     
  8. racerdj

    racerdj F1 Veteran
    Owner

    Jan 19, 2003
    6,952
    Indianapolis
    Full Name:
    DJS
    #8 racerdj, May 13, 2006
    State Farm here. Replacement value on both of my cars. I would have to prove what that cost would be with a similar car, options, condition and miles.
     
  9. MAINEMAN

    MAINEMAN Karting

    May 27, 2004
    86
    NH
    Full Name:
    Eric
    #9 MAINEMAN, May 13, 2006
    I have agreed value with Chubb.
     
  10. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    12,313
    At Sea Level
    #10 Simon^2, May 13, 2006
    Sorry, but 100% wrong.

    I use chubb. agreed value. no problem insuring the car for replacement value.

    In fact our daily driver's are also agreed value, so we don't have depreciation on them in case of a loss. not sure why they allow this on regular cars but they do.
     
  11. absent

    absent F1 Veteran
    Lifetime Rossa

    Nov 2, 2003
    8,810
    illinois
    Full Name:
    mark k.
    #11 absent, May 13, 2006
    I have everything insured with Chubb,they are the best,will cover actual replacement value of car or house,regardless of what the initial coverage (house) is for.
     
  12. traderf430

    traderf430 Karting

    Feb 4, 2006
    51
    WA
    Full Name:
    bob
    #12 traderf430, May 13, 2006
    Chubb
     
  13. 430spider

    430spider Karting

    May 12, 2006
    87
    North Tustin
    Full Name:
    James Warden
    #13 430spider, May 20, 2006
    All "A" rated insurance company's cover vehicle for ACV (actual cash value) make sure your agent has a copy of your purchase contract. He will insure it at or above MSRP depending on the company's policy. If your car is stolen or crashed the company is required to pay you for your loss at ACV. If your company tells you different then you need a new company. Just make sure your company policy is for ACV and you are good. Allstate insures my F430 Spider with a contract price of 320k for $880 every six months. Just remember as market value changes so does your coverage.
     
  14. Duane

    Duane Karting

    Nov 22, 2003
    161
    CONNECTICUT
    Full Name:
    Duane B
    #14 Duane, May 20, 2006
    Chubb is the best!
     

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