Originally Posted by 5thAve
Originally Posted by not_a_charger
Quote
Personally I'd like to see an insurance company offer agreed value coverage for a daily driver...it might be worth a few extra bucks a month knowing that if something does happen your not going to get hosed...


Some companies kinda sorta have that in the form of "new car replacement" coverage, but the scope and availability of that coverage is limited. Your idea is an interesting one. My educated guess is that the primary deterrent to doing so is that it's not in the wheelhouse of most companies' underwriting process. That's not to say that it couldn't get there, though.


Im just wondering how agreed value on a daily driver would work. You'd think it would need to be old enough to actually be worth something to begin with and not in the rust belt area. It's one thing on a classic car but on a daily driver you'd think the premiums would be so high or enough conditions that it wouldn't be worth it. How you do you put an agreed upon value on a car that's constantly being driven with high chance of that value depreciating?


That's exactly what I'm referring to with regard to the underwriting complications.

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