Learn me stated value insurance

So I have insured with Geico for years well over 15 at this point no real complaints. I currently have my new little salvage title track toy miata on there liability only. But while I don't mind the idea of replacing it if I wreck it on the track now thats its a 2,000 dollar car with 5,000 dollars with of parts on it I am starting to wonder if YES I do want it insured against theft or other types of damage.

Obviously a traditional policy would not work because hey its already a salvaged title miata with body damage.

I don't know for sure, but my guess is that the agreed upon value insurance carriers won't be interested in insuring a salvage title vehicle. 

Stated value is a agreed upon amount with the Insurance Company.  I have Geico. Their  affiliate is AMIG.  When I had my Vette, I used them,with a stated value.  Contact them and see what they say.

Not so true. Atomic Betty is a Salvage titled car and I have an agreed value policy on her. I have to because there is no way they would pay even half her value if in an accident. 

The bigger issue here is the overall value of the car. Grundy's will probably be the only one that would potentially write a policy for that. Gieco and Hagerty's will not touch anything like that. 

In reply to bmw88rider :

Could be. Never tried a salvage titled vehicle.

My cars not salvage title but stated value is the only coverage i could find that didnt make me nervous. My agent had too come take pictures of the car all over. He took down a mod list and called me back the next day. They didnt like the lack of carpet/front seat at the time. It does cost me a bit more then normal coverage.

I landed on Safeco. They are a division of Liberty Mutual.  

When shopping around for agreed upon value policy, they ended being lower for everything, the agreed-upon policy and my other two vehicles combined then the name your own price tool company on just the agreed-upon vehicle with no agreed-upon value. 

Also note, some of the collector insurance agreed-upon policies put limits on how you drive your car and how much you drive your car. One of the bigger name collector car insurance companies stated that if I drove my car to work it would not be covered if something happened.

Sounds like its not really worth it in my case, I mean I can "self insure" I'd just be mighty pissed if it was stolen

In reply to Jaynen :

There are Motorsports - only policies that cover theft, fire, etc, off track but no driving. I'd give Hagerty a call anyways. 

Javelin said:

In reply to Jaynen :

There are Motorsports - only policies that cover theft, fire, etc, off track but no driving. I'd give Hagerty a call anyways. 

That's an idea

Be careful with the distinction between 'agreed value' and 'stated value' insurance.  If the car is a total loss, stated value means they pay the stated value OR the actual value at the time of the loss - whichever is less.  Agreed value means they pay the agreed value.