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Car Insurance Question  I just purchased a 74 Corvette in excellent shape, it was restored by a nationally recognized auto restorer. How can I get, or what do I ask for to be able to get full cash replacement value from my insurance company? It is valuable beyond what the simple NADA or Blue Book value has. If it gets totaled, I would like to be compensated for the actual replacement value.

Sounds like you have a great classic Corvette. You will likely need to find a classic car insurer to get the type of coverage you need for this restored vehicle. The type of coverage it appears you will need is a "stated value", "agreed value" or "stated amount" policy.

These types of policies differ slightly but generally the insurance company and the vehicle owner discuss the true value of the vehicle so that it is covered up to that dollar amount in the policy. Because these types of insurance are different make sure to read and understand the policy you choose to make sure it is right for your needs.

Some sites that can be helpful to you are countrycorvette.org, vettenet.org and Hagery.com.

You may also want to try our partner Safeco who has agreed value policies available for antique and classic cars. You can start now to get a classic car insurance quote you need with them by following this link or calling them at 1-800-936-0356.They should be able to provide you with the type of auto insurance that your Corvette needs.

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This car insurance question was asked on 1/19/2006
This auto insurance answer was last updated on 3/2/2007
Tom T requested this car insurance solution.
Rated 10 out of 10 based on 1 vote.
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