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I’m using American Modern for my 2009 XK Convertible, 83,000 miles. Just renewed the agreed value of $22,000, premium $411, limited to 6,000 miles per year. I’ve had this coverage for 5 years, no issues. I have Travelers on the other cars and the house…used to have State Farm, every time I needed help they didn’t/wouldn’t help…
Smart man..
I am switching out to collector insurance as soon as I get quotes.. a wise man once said
"You don't know how good your insurance is until you make a claim!"
This convo has me wanting to call State Farm and clarify the details.
If all isn’t peachy, I’ll call America Modern.
Ive heard good things about them.
I've had American Modern for a number of years. They want you to stipulate a specific car that you use daily and do limit you somewhat on the mileage of the Jag. They were giving a guarantee value on the car. They are a good company, even though the rates for me had gone up considerably, but that's the case across the board with Insurance Companies today. Of Course, now that I'm using the Jag as a daily, I'm paying considerably higher rates and will probably collect nothing if car is totaled. It is what it is.
Last edited by bocatrip; Oct 19, 2025 at 05:40 PM.
@HealeyJag , when I purchased my 2009 XKR Portfolio last November, I added it to our Farmers' home/auto policy and it cost $1427/year. I became concerned Farmers' payout would not cover getting another XKR if necessary, so I switched to Hagerty at end-June. My Hagerty policy states it is for a $30,000 Guaranteed Valuation (you choose the valuation) and costs $820/year. On the Hagerty insurance application, you must state an Annual Mileage and agree that while not in use, the vehicle will be kept at its principal storage address in a solidly constructed, completely enclosed and locked structure. My agent said if you state 5000 miles/year or more they probably won't accept you. He also said that if I use their online quote system, that I should not decrease the annual mileage when later submitting the formal application as it might cause them to decline you. Will be interested in learning what kind of a deal you are able to find.
I've had American Modern for a number of years. They want you to stipulate a specific car that you use daily and do limit you somewhat on the mileage of the Jag. They were giving a guarantee value on the car. They are a good company, even though the rates for me had gone up considerably, but that's the case across the board with Insurance Companies today. Of Course, not that I'm using the Jag as a daily, I'm paying considerably higher rates and will probably collect nothing if car is totaled. It is what it is.
Why would you collect nothing if the car is totaled.
My 2013 XKR was destroyed in the Palisades fire. I had it covered by Hagerty with an agreed $35,000 value with a 3k annual mileage limitation and $1k deductible. They covered the loss immediately with no questions asked. Nuff said.
Last edited by ralphwg; Oct 19, 2025 at 05:33 PM.
Reason: typo
Why would you collect nothing if the car is totaled.
Makes zero sense..
Sorry....What I meant about getting "nothing" I was exaggerating (sarcastically) the settlement....I meant way less than it's worth, or substantially less than if I were to sell it privately before it was in any accident. I didn't mean literally nothing.
This convo has me wanting to call State Farm and clarify the details.
If all isn’t peachy, I’ll call America Modern.
Ive heard good things about them.
I'll be interested to hear what they tell you. They wouldn't quote me a value and certainly wouldn't share their algorithms. They just repeated what was said earlier (Comps).
When my wife's 2010 XK was totaled, was a pain getting proper reimbursement from my regular car insurance. Nationwide was NOT on my side..
Thinking of getting a STATED VALUE plan with a collector car company.
2008 XK..don't want to be offered $8000 if something happens!!
What is the consensus..
Or are most not aware this is a HUGE issue!!
You do not want a "stated value" policy. You want agreed value. There is a difference in that agreed value pays what you agree to, stated value just means you have stated to the insurance company what you think it's worth........they don't have to pay that, and won't.
My 2013 XKR was destroyed in the Palisades fire. I had it covered by Hagerty with an agreed $35,000 value with a 3k annual mileage limitation and $1k deductible. They covered the loss immediately with no questions asked. Nuff said.
Ok, so this collectors insurance thing.
With normal insurance I have liability, collision and comp. $1000 a year.
I’m seeing above that the range seems to be $400-$550 or so, based on the agreed value and yearly mileage.
After some thought, this has to be just collision or flat out replacement insurance?
So you’d still have to have a liability policy with someone else?
$500/yr seems to be really low for all of it.
Ok, so this collectors insurance thing.
With normal insurance I have liability, collision and comp. $1000 a year.
I’m seeing above that the range seems to be $400-$550 or so, based on the agreed value and yearly mileage.
After some thought, this has to be just collision or flat out replacement insurance?
So you’d still have to have a liability policy with someone else?
$500/yr seems to be really low for all of it.
Yes!!!
Collector car insurance is normally less expensive with a guaranteed payout..
Rally insurance took care of me when a deer hit my 73 e type.
...this has to be just collision or flat out replacement insurance? So you’d still have to have a liability policy with someone else?...
@Circumnavigator , my Hagerty policy covers Bodily Injury, Property Damage, Personal Injury, Uninsured Motorists Bodily Injury, and Uninsured Motorists Property Damage. The Declaration page from my Hagerty policy is shown in the picture below. However, I also have an Umbrella Policy with another carrier that covers all our vehicles and properties.
.
Last edited by KurtC; Oct 20, 2025 at 10:02 AM.
Reason: Edited to show full document including $30,000 Guaranteed Value
@HealeyJag
Thanks for starting this post.
And thanks to everyone who asked questions and to those who provided answers and experiences.
You have saved the rest of us much time!
@HealeyJag
Thanks for starting this post.
And thanks to everyone who asked questions and to those who provided answers and experiences.
You have saved the rest of us much time!
Bill
Your welcome...
Having had a poor experience, want to eliminate the added frustration if your car is damaged or stolen..
I'll be interested to hear what they tell you. They wouldn't quote me a value and certainly wouldn't share their algorithms. They just repeated what was said earlier (Comps).
When I originally purchased my American Modern coverage it was done through my insurance agent. I filled out an application and one of the items was for me to say what agreed value I wanted. I chose a number that I felt was fair. My agent said that the agreed value and annual mileage were items that would affect the premium. Every year I expect the agreed value to go down and the premium to go up. Both have stayed the same…
When I originally purchased my American Modern coverage it was done through my insurance agent. I filled out an application and one of the items was for me to say what agreed value I wanted. I chose a number that I felt was fair. My agent said that the agreed value and annual mileage were items that would affect the premium. Every year I expect the agreed value to go down and the premium to go up. Both have stayed the same…
Agreed value stays the same.
Unless you change it.
When I bought my 73 e type for 30,000 that was the agreed value.
Few years later I upped it to 70,000.
Thank goodness I did that . After the deer hit me they would have taken the car and wrote me a check for 30000.
would have made $$$ on the deal
Always look at your policies yearly..
Also an INDEPENDENT AGENT may be in your best interest.
I'm confused (now, again). Circumnavigator asked three successive questions - "After some thought, this has to be just collision or flat out replacement insurance?So you’d still have to have a liability policy with someone else? $500/yr seems to be really low for all of it."
To which Healey Jag replied "Yes".
Kurt C then showed his policy that covers both collision and liability, but also mentions an umbrella policy?
I'm confused (now, again). Circumnavigator asked three successive questions - "After some thought, this has to be just collision or flat out replacement insurance?So you’d still have to have a liability policy with someone else? $500/yr seems to be really low for all of it."
To which Healey Jag replied "Yes".
Kurt C then showed his policy that covers both collision and liability, but also mentions an umbrella policy?
So I AI'd it.
Limited use is the kicker
My American Modern policy provides comp, collision, liability as required in Pennsylvania. Nothing else is required. It’s really a great deal…I can drive 6000 miles per year…this year I drove it about 3500 miles…don’t get old!
