Re: Insurance

[scott mcmanus <mcmanus2301@xxxxxxx>]

I thought I would chime in on this subject.  I am a State Farm agent  of 19 
years here in Louisiana.  We offer an antique/classic  auto policy.  I thought 
I would get some more info on the subject  and post it.  With State Farm here 
in LA (I have to mention that  because some states vary), The main difference 
between a standard auto policy  and the antique/classic one is that the 
standard policy is paid on an actual  cash value (market value) and the 
antique/classic policy pays for  a total loss under "agreed value".
 
I made some calls this morning to our underwriters and adjusters. I  learned 
that State Farm personnel are very knowledgeable at regular auto  insurance 
but are learning the classic car insurance. So I went straight to a  coverage 
brochure to find out what our coverage is.  Here is a paragraph  from the 
brochure: 
 
   "When you insure your antique or classic car with us, you and  State Farm 
will agree on the value of the car. If the car experiences a total  covered 
loss, we will pay this agreed upon value, rather than the actual cash  value of 
the car."  
 
I have a '70 LS6 Chevelle (don't shoot me!) insured for 75,000. Premium is  
400.00 per year for 'full' coverage with high limits of coverages. I can drive  
it for pleasure reasons occasionally and it doesn't have to be garaged with 
an  alarm system.
 
I thought I'd let you guys know about the coverage since I'm sure a lot of  
you have State Farm for your cars and home.  You may want to check with  your 
agent and get a quote.
 
Scott    
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