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Insurance: Are you Sure you Are Covered

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So I had a surprise when researching insurance coverage for our heavily modified Jeep. I thought it you had a policy where you told them the value (stated value) you would be covered in the case of theft or accident. Turns out in AZ the insurance companies get to choose give you the stated value or the lesser market value. Either way it is a fight and you likely are not going to get the $$ back on your upgrades.


I tried to get a policy with Haggerty's for a Guaranteed Value policy. They declined and was told 2 times that they refuse to cover off-road vehicles. I tried with several other companies and same thing either they didn't offer coverage to vehicles that went off-road (including just forest service roads) or just didn't offer a guaranteed value policy.


Progressive would only add 5k in aftermarket coverage and that won't cover enough for either of our Jeeps. So I stumbled across an insurance broker on AZ Virtual Jeep Club. He is a representative for Farmer's Insurance. This agent was awesome and knows off-road vehicles. He was able to recommend the best policy for our Jeeps. They also helped us get better home owner's coverage.


For our Grand Cherokee we had to get an Appraisal done. Then the insurance company is insuring our Grand Cherokee for the full appraisal amount. If something bad happens, god forbid, we get a check for the agreed appraisal price. I was surprised that the total policy isn't that much more than what I was paying Progressive.


This agent has plans that cover "normal" vehicles, classic vehicles (with no mileage restrictions or use restrictions), after market parts coverage, or for the crazy folks who really modify their rigs "Appraised value" policies. They offer discounts to military, law enforcement, multi-policy, etc.


So word of advice is to go read the fine print in your auto insurance policies and do your research. You likely will not get enough money back if something awful happens.


This is who we used:


Farmer's Agent Recommendation:

Office of Allan Connor

Farmers Insurance

13634 E Williams Field Rd # 6

Gilbert, AZ 85295-5214

480-308-1498 (Office)



Auto Appraisal Company we used:


Auto Appraisal Network AZ

7831 East Greenway Road

Scottsdale, AZ 85260

Phone. 480-939-5053


Additional reading:

From Haggerty's website:

An Agreed Value policy -- the same as Hagerty’s Guaranteed Value™ policy --guarantees that you will receive the full insured amount of the vehicle (with no depreciation, and including all sales taxes), in the event of a covered total loss.



In contrast, a Stated Value policy (sometimes called “stated amount” or “maximum limit of liability”) does not promise to pay the full vehicle value that’s indicated or “stated” on the policy. With regard to a covered total loss, you may receive less than that stated amount, because the insurer has the right to pay either your vehicle’s depreciated actual cash value OR the cost to replace your vehicle -- whichever is less. Also, many insurers that offer stated value policies (typically standard insurers) require periodic appraisals to affirm the insured amount, adding cost and inconvenience to the client.


More info:


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Wow, great information you guys! Thanks for sharing your story.

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Wow perfect timing! Looking for new insurer b/4 my current insurance expires next month. Will take hard look @ these guys. Thanks for posting this...Al

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