If you don't know, agreed value basically means the insurance customer decides how much his vehicle is worth.
Hey Sean...I'm more familiar with Classic Car insurance, but typically "agreed value" is what you and the insurance company agree with on to set the value on it. I help my buddy set the agreed value on his classic car collection, it is typiaccly 10-20% higher than his purchase price.FTI, a running, but rough 400 sold yesterday for $6250, a so\so 350 non-runner has a current bid of $2630 and a superb K2 750 quicly went to $20K with a week to run on the auction. An upside to all this is my wife has suggested I buy more bikes to do up, as money in the bank is currently earning about 0.8% interest. Downside is that she suggested any profit I make be spent on the house. 
Which site are those prices/results from ? I read on here that BAT seems to be getting good money.
I watch BAT auction for classic cars and bikes. The numbers seem to be getting ridiculously high!
Tempted to list a bike...
Steve-O, I have never used specialized Classic vehicle insurance with agreed value until this last renewal. I assumed Hagerty would have some kind of voice about the values I stated. They did not blink or ask for any kind of hard valuation evidence. I understand they may ask for photos in some circumstances. I just estimated what it would cost me to replace and added 1 to 2k dollars on top for good measure. Of course the more you insure them for, the more they gonna charge you, so obviously, its not gonna be in your interest to go wild. None of my bikes are worth much in the collector market anyway. For 4 bikes, I am paying $100 less a year than I was with just the minimum Michigan road legal coverage. Now I get money if my bikes are damaged. So these rates are very reasonable. But this is why, I think, Hagerty is seeing skewed values...because guys are setting their agreed values to cover everything, much higher than what the bikes could actually be sold for.
That certainly could be the case, Sean, hadn't thought of that.
My buddy use Hagerty for his Classic Cars and they never commented on the agreed value he requested either, but they always want photos [his cars are valued at $30,000 - $75,000]
On a side note, I have my '70 Corvette insured w/American Modern, another insurance company that specializes with classic cars. They set the agreed value at about twice the amount I could buy another one for! Who am I to argue, hope I dont total it or it gets stolen, but if it does, I'll be shopping for another and have a pocket full of money to spare!!
