Insurance evaluation, declared value

[patz]

I don't agree with my insurance company's declared/assigned low replacement value. I see that PCA no longer has the valuation service.

What are Pelican's doing?

[Slanski62]

I went through my regular carrier, State Farm. I only had to send them a few pics of my 912 and 911. But, neither of these cars are insured as daily drivers. They're considered 'limited use'.

Steve Yeatts
Chapel Hill, NC

[Joe Bob]

I too have State Farm and limited use. What kind of numbers did they give you and what did you settle for?

NADA has a BIG range, $30-$46.700. SF is saying $38K.

[Jesse16]

Seems Hagerty has the latest valuation tool on their web-site for our cars. Prices are astronomical.

[Slanski62]

I went for $40,000 on one and $45,000 on the other. I don't remember which is which

[patz]

Thanks, Hagerty is $27K, way too low.

[bhmkv]

With Hagerty you have an agreed value.

[Ayles]

Hagerty. I came to number of what I was comfortable with, they gave me a price. Super easy.

The Hagerty tool may give you a value but talk to rep and actually come to a value and a premium. You can get that number a lot higher for not a huge bump in the yearly cost of insurance.

[RSTarga]

I use Hagerty and they have an agreed value. What year and model ? Usually their site is at the top end, surprised you thought it was low.

[Slanski62]

Hagerty wouldn't cover my car because it's not garaged.

[grizzfan]

PCA does not value cars as someone mentioned; I tried using them recently after it was suggested here that I do so.

Haggerty has a nice site but my car has a '73 body with a '75 engine and I couldn't find a way to factor that into their site. NADA doesn't have that option either.

I have a agreed value with ANPAC of $25K, which I feel in my gut is too low but that is their maximum.

I'd guess, but don't know, that the majority of our cars don't have matching numbers and are mongrels of sorts. How do we approach valuation from that standpoint??

Tom

[Ayles]

You should just call them. They have an aftermarket parts work sheet you can use as a supplement.

[ghamilton]

Hagerty is a great company. Be sure you have agreed value, not assigned with whoever you use. I added $10k to my 911 and it only added like $100 to my policy.

Just added a 70 TR6 @ $15k, only costs $80/yr, plus all my roadside from my 911 is included.

[Lapkritis]

Have stated value with safeco. This value was based upon 2012 price when purchased... need to update by >50% of current agreed value. It is just a toy... would prefer if prices just stayed steady to keep anxiety low. People think we're nearing the top of the market... when you look at the explosion in prices over the long term, this is just the beginning.

[patz]

Originally Posted by Slanski62

I went for $40,000 on one and $45,000 on the other. I don't remember which is which

My SF agent claims there are different regs on values. Basically said NFW on a stated or agreed value in my state. Where are you insured?

He almost gagged when I gave him the NADA values. I'm going to send pics and receipts for my 3.6 upgrade and other stuff. Have it on record with them.

[ghamilton]

If you do not have agreed value you are playing with fire! You don't want to be fighting with the ins co. after an incident, esp if it's the other guys fault. Their company doesn't care if you have a stated value. If you can't meet requirements for classic insurance at least get an appraisal report for ammunition.
Let's face it, when was the last time an insurance company did you a favor?

[85911]

I have Safeco and they wanted an appraisal if I wanted a value greater than theirs. I hired one for $150. and Safeco matched the appraiser's number. The appraiser also offers yearly updates at a reduced cost. Considering what's happening to our cars' values, I will be using this service.