insurance value

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coffeedart67

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I accidentally let my collector insurance lapse this winter, now I am trying to get new collector insurance and am wondering what value I should put on it. It is a 67 Dart GT convertible, rebuilt 273 2 barrel, automatic, bucket seat with console, no rust through, some paint flaws, scratchs on glass, 97,000 miles. Top could stand to be replaced. I looked on Hagerty and they list this condition as $13,500, to me that sounds high and I am thinking more $10,000. Whats your thoughts. Should get a new appraisel, (old one done 20 years ago, listed it at $8,000 to $8,500) but am in a hurry to get it backon the road.
Thanks
Aaron
 
consider what it would cost you to replace this car if it were to get totaled
that's the number you want
(unless of course that would run your monthly payment up too high)
 
what condition is it in. 10-12K might be close if its in really nice condition.
 
Look around on the net and see what it will cost to replace it. I had a 92 Firebird that got totaled and wanted to buy it back from the insurance company to keep the drive train and interior etc. Planned to buy a good body and put it all together. The amount they wanted for the buy back was ridiculous, so I took the check and bought another car.
 
On my car I set a reasonable value I could live with if totaled and checked the premium. When I realized I could afford more premium I raised the value of the car accordingly
 
coffeedart67 said:
I looked on Hagerty and they list this condition as $13,500, to me that sounds high and I am thinking more $10,000. Whats your thoughts.
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If it were a complete loss, which would you rather have, 10K or 13.5K? I can't imagine it's going to make a whole bunch of difference on the premium.
 
Talked to insurance agent, first he quoted me under my DD, full coverage just under $600 a year, I asked if it was agreed value,"yes, they will pay you up to that amount or what they estimate it is worth, in case of total loss" Uh, then its not agreed value. He then quoted me collector ins. (dam memory, can't remember the name, but sounds Irish, if that helps)for $102 a year.
 
$12,000 is #3 condition in the 2015 Collector Price Guide. Our insurance companys only insure up to an appraised value, we can't just pick a value and insure it to that.
 
State Farm Agreed value.Put 15K on it and be done with it.Converts are not easy to find in good shape.And you have a v8 GT
 
I just paid Haggerty $255.00 for 12 months this afternoon for my 72 Duster 340, I took the online quote, the machine spit out $17,300 as an average value, 4 years ago, I had it at $10,000, The rep called me back questioned why I up'd the value. I told her thats whats popped up on your site, she didnt question it anymore, and left it at $17,000 all in all I think Haggerty is the way to go,
 
I like Hagerty, but then too I've never had a claim, but then too, that's why collector c ar ins, is so affordable. ( compared to your friendly regular auto ins. co.!!???)) LOL

its so affordable a person can usually stand for it be insured for what $$ you would really want if it was totaled????
 
It was Berkley. Thinking I will go with them and get an appraisal this summer and adjust the insurance accordingly unless the appraisal is lower than current insured value.
Aaron
 
so, does collector insurance offer the same daily driver insurance as "regular" insurance or are there limitations?

(because I think my premium might be more then what some mentioned here, but I have the duster added to all my other vehicles)
 
Typically if you have collector insurance the car cannot be used as a "daily driver". Usually there are very low annual mileage restrictions, like 2,000 total miles per year.
 
diymirage said:
so, does collector insurance offer the same daily driver insurance as "regular" insurance or are there limitations?
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Hagerty requires you to have a DD with current insurance, they also want it garaged. They don't want the classic to be used as a DD. But, they don't restrict your mileage, at least that's what they tell me.

If you intend to drive the Duster to work, store etc, then you would probably want standard coverage. Problem with that is, if it's a total loss, you lose!
 
Bad Sport said:
Hagerty requires you to have a DD with current insurance, they also want it garaged. They don't want the classic to be used as a DD. But, they don't restrict your mileage, at least that's what they tell me.

If you intend to drive the Duster to work, store etc, then you would probably want standard coverage. Problem with that is, if it's a total loss, you lose!
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I have Grundy. Same rules apply with them. Must be garaged and must have a DD. No mileage restrictions. Last year, agreed value was $10K and premium was around $170. I'm going to try to raise the value with them when it comes up for renewal.
 
State Farm has my 68 insured for $20,000. I'm limited to 3,000 miles a year. Premiums are $76 every 6 months with a $250 deductible.
 
I'm with Grundy duster is insured for $30k agreed value....
 
I got Hagerty. Got $20k for $260 per year. Can't be daily driver, must be garaged.
 
I,m with Hagerty....Here,cars have to be appraised by a registered appraiser before Hagerty will insure.
 
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