I suggest you all rethink your insurance.... at Team Camaro we get insurance discussions alot and there are major differences in how a conventional insurance company and classic company handle coverages.
State Farm and most others have typical coverage that WILL depreciate your values and in the case of a total loss THEY alone will determine what THEY think the value of your car was. They do NOT have 'AGREED' value coverage that is the backbone of the specialty insurance carriers such as Grundy, Hagerty and others.
Agreed value means that on the day of your policy issuance, you and they have agreed to its value, for example, $40,000 for my 69RS. They get pictures of it and I have certain things I must do, such as keep it in locked garage at night except when travel to car events/shows etc. If my car is totaled in accident or stolen, I get a check for $40,000 no deductions or negotiating at all. Period, end of discussion, I get a check for that amount because we AGREED up front as to its value.
If it was a State Farm policy, they would have gone to Ebay or other sites and found 'comparable to them' sold data and then after depreciating according to their policy, you would get a check for MUCH less.
I have all my family cars with State Farm, house, life, business etc. so I like them for everyday insurance but if you guys dont do alot of homework, you will get burned in the case of a total loss.
Instead of hashing and rehashing this, go to www.camaros.net
and to the BENCH section and in the search box, type in insurance and read all the info. thats been put foward about this topic.
I can almost 100% guarantee you that if you are with a traditional insurer, you will not have 100% coverage for what your car is worth, if its totaled. If you think you do, write a short note to your agent, ask him to give you in writing a statement that if your car is totaled or stolen, that you will get 100% of the value you placed on it. I bet the agent wont sign it. thats my 2cents worth.