Massachusetts Antique Auto Insurance

The point of buying a stated value, Massachusetts Auto Insurance policy or endorsement is to limit the insurance companies to pay no more than actual cash value (ACV), but less if the stated amount is less. The appraisal is likely to take into consideration market factors that do not apply to ACV, such as the value associated with original parts.

If you have  a 1967 Camaro on a Stated Value Policy insured for $35,000 and that car is totaled,  then the insurance company will pay the lesser of Actual Cash value or the Stated Value. So if the ACV of that Camaro is $40,000, the insurance company will pay the Stated value $35,000 minus your deductible. www.jmdins.com

We are not fans of the Stated Value policy here at J.M. Doherty Insurance. www.jmdins.com

What you need is an Agreed Value Policy which are available through our agency. Agreed Value Policies are insured for an agreed value determined by the insurance company and the insured based on an appraisal. With the Agreed Value Policy, you will collect the full limit of coverage (if it's totaled) NOT Actual Cash Value (ACV) if it's less.

Please look us up at www.jmdins.com

We work with Hagerty www.hagerty.com as well as other collector car companies.