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Anybody have any experience with other than regular car insurance on their 'vette???

I've heard about something called an "agreed value" policy that doesn't go down in value as much as regular insurance.

I also heard about "gap insurance" that would pay the diff between amount owed and insurance value if a car is totalled.

Any feedback appreciated.

:-?
 

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Just asked my girlfriend( Insurance business 14 yrs) and if you have your car appraised ,by a licensed appraiser, you can insure the car for that amount. Might cost you a bit more, but better than taking a "big hit" if something does happen. She thinks that Gap insurance may only apply to leased cars. But some Ins. Co may offer it. Baron ( and Toni)
 

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Just added Gap Insurance onto my policy today for the Vette.

As I understand it, the insurance covers the gap (difference) between what you owe the bank on the new Vette and what the current real depreciated insurance value is. Only cost me $33.00 every 6 months.
 

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Gap ?

Gap is currently included in almost all Lease Contracts. This protects the leasing company. As far as purchasing other that through a lease...that is definitely possible. i sell gap policies all day long to my customers here at the dealership. It is a great idea if you are not putting alot of $$$ down and want to make sure you are covered. Check your agent like Rollin Black said. Good Luck!:z: :z:
 

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There is such a thing as "agreed value" but I am only aware of this being done on "antiques/classics". There must be an appraisal, there is a limited amount of mileage allowed per year etc.---this is a no brainer for the ins. co. as most of these antiques/classics appreciate rather than depreciate.
To get that kind of coverage on a new Vette I think would cost you to no end. Let's face it, you pay 50k for a new car and insure it for that amount...2 years from now you total it when it is really worth say 30-35k.
I strongly suspect any ins co writing that kind of coverage would factor this kind of "premium" coverage into their premium.
 
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