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Has anyone had their miata appraised to obtain a stated value policy? Recently I've realized that overtime I have invested enough $ into the miata that it's worth more than what would show up on paper. Hardtop, coilovers, wheels, roll bar, etc. It adds up... KBB.com says it's worth ~$3200. If it was stolen or totaled, I'd be pretty ::Rant:: if I only got $3k for it.
Anyway, just curious if anyone has any experience with this...
Yes, you can get an agreed upon value policy from most insurers. Specialty insurance companies do this all the time, but I had one car covered with agreed value by USAA.
This has to be worth doing right? I realize that if it has a bad day at the track it's SOL, but worthwhile for the street...
We had a customer that did this and made off like a bandit. The sad thing is his car was EASILY repairable, he was side swiped, but they totaled it anyways. He was not able to buy it back either. Well he could have but then he would have received a fraction of the guaranteed value.
Let me know what you find out. I think a lot of the GV insurance policies exclude any type of Motorsport use and just having a roll bar will exclude you from getting coverage.
Someone has to offer a policy that will cover it. When I went to COTA I found track insurance that let you declare your own value. My Allstate rep said they have to have an appraisal to do stated value. I'll give Allstate a shot, but surely some company will take my money... if insurance companies are good at anything it's collecting premiums...
I don’t have any experience with this, but I think you want agreed value not stated value.
http://www.lelandwest.com/stated-val...-insurance.cfm
Good call. I want an agreed value policy.