car value and insurance

[percydaman]

I need to get my 73 charger I just purchased on my insurance, but they're asking for value of the car.  Now, I know my car isn't 'worth' alot per se, but it sure would cost alot to get it fixed it if somebody ran into it.  How do you ascertain the value of the car for insurance purposes?

[Hard Charger]

you can gauge value by what you have into it and what it would cost to replace it if it was totaled.

collector car insurance is usually an agreed upon value, you send the insurance company some pictures and they approve the value you are asking for.

remember you are paying the premium from what you value the car at.

I value my cars a little more than what I have into them until it gets restored, then I go a little over the market value.

[lloyd3]

Hard Charger has it about covered. Until I finally got it restored, my insurance was fairly inexpensive. Now that I think it might just cost a little more to replace it, it costs quite a bit more on an annual basis.

[twodko]

NADA car value guide has a section for determining the average value
of classic cars by zip code. It's a place to start.

[charge69]

Hagerty's Insurance has a section you can go to and they will give you an approximate value of your classic car. With pictures, they will insure your car for anything at that amount or less without an actual appraisal.  It kind of is an "agreed upon" amount.  Their values are a little off but in the ballpark.

[crj1968]

Hagerty's Insurance has a section you can go to and they will give you an approximate value of your classic car. With pictures, they will insure your car for anything at that amount or less without an actual appraisal.  It kind of is an "agreed upon" amount.  Their values are a little off but in the ballpark.

Yep, I just did this with my car through Hagerty. Told them it is worth $20K (a little high) they said send pics, I did. They agreed. Done !

[percydaman]

Thanks for the info guys!

[MrSnicks]

I just got a Hagerty policy on my 1971 Dodge Charger. Sent a couple pictures, answered a couple questions insured for $12k. Cost $195.00 per year. They had a link to a website that showed average value for different conditions. My condition was 4 (the lowest). But it runs, drives and is dependable so not a basket case.

Patrick

[myk]

I've got mine insured for 40. Think about it-a solid driver that qualifies as a good to great car will run you at least 30 if you ever need to replace the one you have, never mind that you'll have to spend more to get the car where you need it be.  Insure your car for as much as you can...

[HeavyFuel]

I've got mine insured for 40. Think about it-a solid driver that qualifies as a good to great car will run you at least 30 if you ever need to replace the one you have, never mind that you'll have to spend more to get the car where you need it be.  Insure your car for as much as you can...

Sorry, OP, I'm gonna expand on this tangent.  


Think about it the way insurance companies do.....by degree of risk.

Do you plan on driving the car alot?  If so, the odds are greater that something will happen to it, so put more insurance on it.

If a car sits in the garage and gets 30 miles a year, play the odds and skimp on insurance.  I have an uncle that has MANY nice cars, and puts minimal insurance on them..... because they hardly ever get driven.  

I have one car, and drive it all the time.  Have it with Hagerty for 60k, told them about 2-3k miles a year, including driving it to work.  Full coverage, stated value costs about $550/year.   He said they could have gone higher value on my car, according their charts.

So much blood, sweat and tears have gone into my car, that it would be like loosing a family member if it got wrecked. (probably worse...yeah, i said it)   So yeah, it's insured to the nuts.

This could happen.  

http://www.dodgecharger.com/forum/index.php/topic,112217.0.html

[nvrbdn]

i did mine with state farm. stopped in and said i wanted full coverage 30xxx. they said bring it up for pic's. pics taken and they set it up. they asked how many miles a year. we agreed 2-3k. i can drive anywhere i want. bet i havent put 200 on it this year, but oh well. and mine is 24.00 a month.  they want body pics, interior, engine, etc. took about 15 pic's of the car and shook my hand.

[tcs69rt]

BE CAREFUL with Hagerty! I have had them for 10+ years and when they wanted pics of my 69 Charger I sent them in. I currently pay about $250 for $25,000 coverage. I put centerline wheels on the car and the agent tells me that I am no longer in their "stock" coverage. I am now in modified or custom car insurance? I have been with them for years and now they wanted to raise my rates over wheel changes!!! I told the guy I can put the originals back on in about 20 minutes. I even asked how improving the rims / tires for better handling qualifies as custom or modified? He said too late Sir, you modified the car already and now need a custom policy. I asked for the supervisor and told them I sent in the wrong picture. I sent them pics of the car with stock wheels and they were satisfied....I was not. Hopefully that agent was fired for being a dumbass. BE CAREFUL with Hagerty and good luck!

[myk]

I'm hoping that's an isolated incident with Hagerty, then again I'm sure they along with other companies are only becoming more predatory and hungry these days...

[Homerr]

BE CAREFUL with Hagerty! I have had them for 10+ years and when they wanted pics of my 69 Charger I sent them in. I currently pay about $250 for $25,000 coverage. I put centerline wheels on the car and the agent tells me that I am no longer in their "stock" coverage. I am now in modified or custom car insurance? I have been with them for years and now they wanted to raise my rates over wheel changes!!! I told the guy I can put the originals back on in about 20 minutes. I even asked how improving the rims / tires for better handling qualifies as custom or modified? He said too late Sir, you modified the car already and now need a custom policy. I asked for the supervisor and told them I sent in the wrong picture. I sent them pics of the car with stock wheels and they were satisfied....I was not. Hopefully that agent was fired for being a dumbass. BE CAREFUL with Hagerty and good luck!

Yeah, but was the rate going to go up to something like $275/yr. with the wheels?

[tcs69rt]

Yeah, but was the rate going to go up to something like $275/yr. with the wheels?
[/quote]

I did not inquire what the new price was going to be. I told the agent that I could do an easy wheel change back to stock rims to satisfy them and he was persistant that I had "modified the vehicle and there was "no going back" to stcck in my case. That's when I demanded to talk to a manager because this clown did not get it.....almost as bad as calling Autozone last week for parts for a 1966 Corvette Stingray. The employee asked me "Who makes the Corvette?"