Agreed value insurance policies


Amphicar Forum Admin
Staff member
Hi all,

Just saw this on one of the other classic car forums that I frequent. Found it interesting in that I am sure many people have different interpretations of what agreed value insurance really means. You may want to look at your own policy to ensure you have the coverage you expect on your amphicar.

Hello All,

I am facing a difficult decision. Last week, someone hit my 84 Citroen XM GTi and didn't leave a note taking responsibility.The repair shop I've chosen has experience repairing Citroens that goes back to the 1950's and I've used their services on this same car two years ago with excellent results. I trust their estimate which came in at $7800.

The car is insured with Hagerty for an agreed-to value of $8,000. I just found out that this does not mean they will pay up to $8k for the repairs, it means that I have three options. The first option is that they will pay me $8k to walk away. Second, they will pay me 70% of $8k ($5600) to have the car fixed. Third, they will put the car up for bidding as-is for three days. At the end of three days they will subtract the highest bid amount from the $8k agreed-to value and give me the difference.

I am a little upset with myself for not understanding this process before I insured the car. Do yourself a favor and ask your insurer what the process is if you wish to have your car repaired in the event of a claim. This information is not readily available on the Hagerty website unfortunately.​


Amphicar Expert
Hey I do have a used front pc, with headlight areas.(but in Orillia)
Should be down to Fl. in Nov.
Visit Gord Souter on Facebook.

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