If you have one or more classic cars, make sure they're insured with Agreed Value Coverage, says Josh Grundy, third-generation principal of The Grundy Agency Inc., based in Horsham, Pennsylvania, an hour north of Philadelphia.
Agreed Value and Stated Value are as different as junker and Jag. Today's large insurance carriers offer Stated Value Coverage, but collector-car-focused companies insist on the Agreed Value product. “Let's