[70GreenBurb]

BruthaMan, thanks for responding. in my research on insurance there seems to be a major distinction on how the vehicle would be valued in the event of a total loss. There are at least two methods of valuation. "Stated Value" is generally the valuation method used in major insurance company policies such as State Farm and AAA would write. Using the definitions of that valuation in policies means it is valued at the lower of the stated value, or market value. From what I have read that leaves room for the insurer to value the vehicle at less than the stated value of the policy if the actual selling prices are less than the stated value. Collector car policies from Hagerty's and Grundy's are written to value the vehicle at the "agreed value", which is the value agreed at the time the policy is written and in the event of a total loss, the agreed value is paid. True market value is irrelevant. But these policies generally have restrictions against the use of the vehicle as a daily driver, among some other restrictions. But on Grundy's website they specifically mention that agreed value policies are available on daily drivers. I just wanted to confirm if anyone had any first hand knowledge of the daily driver "agreed value" policies.

If you are not positive that your State Farm policy will pay the $30,000 in the event of a total loss, regardless of what the vehicle may be worth at the time of the accident, you may want to confirm with your agent. I know AAA does write "agreed value" collectors car insurance but they ask if it is a daily driver and refuse to issue the policy if the answer is yes. They only offer "stated value" policies for daily driver vehicles.