Insurance questions
I've been shopping for a new van, and have run into a problem. Out west, even if you plug in the zip code, Blue Book values for used vans are about 33-50% of what people actually pay. But insuranc...
Forum Discussion
jrp wrote:
it depends on the insurance company, they each have slightly different guidelines from their Underwriters. But many will offer an "agreed cash value" policy instead of the default "actual cash value (book value)". The catch is, they don't have to agree with your version of the "agreed value". sometimes that takes an independent appraisal or documentation & receipts for the modifications. sometimes it requires a compromise, you meet them in the middle at a value you can live with, even if its less than what you think the real value is.
It helps to go through an independent agent with experience insuring modified vehicles.
Nothing to add, because I would say this is spot on. If your current insurance agent can't get you a policy that works for you, find one that will.
I switched from a captive agent to a Independent many years ago. Saved thousands of dollars doing so. Last year I had everything re-quoted through Allstate, State Farm, Farmers, and AmFam, and the Independent was still the least expensive with the best coverage.
