Harvey Insurance is a trusted local agency serving families and businesses across Texas, Oklahoma & Arkansas — backed by America’s most reputable carriers.
The agreed value on the policy was right when it was written. The question is what year that was, and what the car has done since.
Harvey Insurance is a trusted local agency serving families and businesses across Texas, Oklahoma & Arkansas — backed by America’s most reputable carriers.
Colleyville cars are frequently long-held — bought years ago, kept, driven a little, improved gradually. That is the ownership pattern most exposed to a stale agreed value. The figure on the policy was set against a market and a condition that both existed on a particular date, and neither stands still. Values in several segments have moved substantially over the past decade, and separately the car itself changes: a rebuilt engine, a bare-metal respray, a correct set of wheels, a period-correct interior. Each of those raises what the car would bring and none of them tells the carrier anything. The result is an owner comfortably insured against a number that stopped being true some time ago, who finds out at a total loss. There is no automatic mechanism that fixes this. A renewal notice does not re-value the car, and a carrier will not raise a limit nobody asked them to raise. Re-opening it is a short process — a current appraisal or credible comparable sales, submitted with a request — and it is worth doing on a schedule rather than when something reminds you.
Get a Free Classic Car QuoteTwo things drift, and neither one announces itself.
Values in several collector categories have risen sharply over a decade. A figure set against the old market is simply the wrong number now.
A rebuilt drivetrain, a respray or a correct interior all raise what the car brings. None of them notifies the carrier.
A renewal continues the existing limit. There is no step in that process that revisits whether the agreed value still reflects the car.
A current appraisal, or credible comparable sales for the same year, model and condition. Photographs and receipts for the work carry real weight.
Usually a few thousand dollars at a time.
Documented mechanical work moves a car up a condition grade and is easy to forget on a policy.
A bare-metal respray done well is among the largest single additions to what a car brings.
Chasing period-correct parts over years adds up to a figure nobody totals until they sell.
Upholstery, gauges and brightwork, all of which buyers price closely.
Build sheets, window stickers and history assembled after purchase change the car’s standing.
FAQ
A current appraisal, an agreed value that matches it, and a schedule for keeping both honest. Call us.
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Part of our statewide Texas classic & collector car insurance coverage.