Agreed Value Insurance Policy

Just wanted to repost a comment I made on JK Forum in regards to Agreed Value Insurance Policy. A friend of mine with a built Supra has a policy with Rally's Insurance and suggested I get in touch with them.

So I spoke with another agent at Rally's today. They gave me a quote based of an initial valuation I provided for an Agreed Value Policy. We went back and forth for a bit on one sticking point. Standard for the industry is to provide replacement value for aftermarket parts but provide no money for labor.

After quite a bit of explanation, he agreed that it is not the same as typical in which for example they would not provide reimbursement for labor to install new wheels and tires. What I am after is to make sure the big labor items that are more custom work will be covered in the event of a total loss.

I am going to move forward with Rally's to the next step which will be to submit my request for an Agreed Value to their Underwriter's. If they agree, all is well and if not, we will bring in an independent appraiser and go from there.

FYI for anyone interested, Rally's policy will not include any coverage whatsoever at any point off roading

Sounds solid enough to me. AKA you would not expect them to pay for you rolling over your rig while on a weekend expedition... However when you are driving to work and some dickwad rear-ends you and totals your rig, you are covered for jeep + parts + all the labor to install them (welding etc).