Speaking of 73/74 Values...

I'm going through the process of insuring my 74 Roadrunner with Haggerty Insurance. With Haggerty you insure your car for an agreed-upon amount. Simple enough. I'm not restoring my car, and I'm going to be doing lots of stuff to it that's going to lower the value to collectors. It was a 318 car that now has a 360 and will soon have a 440, it was a column shift car that's now console, etc. Anyway, I signed up at a value that was commensurate with what I knew I could find a similar car for and to cover what I've got into it, $7,000.

So I get a call from Haggerty today, and the guy is concerned that I'm undervaluing my car. He says based on my description and the pictures I sent, they would value my car at... $12,000! He said that he wanted to make sure I understood that while they don't like to have to do this to owners, if the car is in an accident, they write a check to the owner and they take the car. I told him if he were to come to my door tomorrow, hand me a check for $7,000, and take my car, I wouldn't mind a bit as I would be driving a better car by the end of the week AND I wouldn't be having to work on it. And if they're willing to go $12,000, I would have a cherry 440 car in the driveway in a week, so if you're willing to underwrite my car, as is, for $12,000... sign me up baby!

I gotta wonder where they're getting their pricing info from.

I told them what it is and what im doing to it, and they gave me the price and all pictures at the time i sent were without stripes or wheels, decals, ect and said when im finished i would have to do it all over again so they could set a more realistic price. i can, they told me go up to 10,000 without taking more pictures, any more i want then i have to retake photos again. But there suggested value judging by all the pictures was 9,000. 150 per year, complete coverage even fires, tornadoes ect.. only thing is im not allowed anymore then 6,000 miles a year which isint going to happen anyway. I like there prices and i don't think 150 per year bad at all for it, I do think the reason they can do it is, they know we don't drive them everyday and winter hibernation.. just my guess. Infinity insurance.

Great insight, as i am sure i will be calling them in a few months!!!!

Keep in mind, insurance on the end of the policy holder is a gamble.

You are betting that you will or won't need to cash in the policy.

The less likely you think you will be to need it, the less you want to pay and vice versa.
No right/wrong, just different bets.

From the policy writer's end, they want to have as much cash coming their way as possible, and are betting that they won't have to pay out, thus pocketing all that cash.

If you feel comfortable paying for more coverage than you feel it's worth, I'm sure haggerty's would be happy to let you and even encourage you to do so.

Personally, I feel that the cash I'd be paying can better serve me, even if only in a reserve account. I insure my stuff for as little as I can get away with.

The are looking at NADA value and the higher they raise your value, the higher the premium, atleast that is what I believe.

Also remember that if you go over the agreed upon mileage w/Haggerty's, you are at their mercy for payoff. They might give you a $1,000 check, that is why I am with Progressive, they will cover me for $14,000 and mileage is not a problem. But I plan to drive mine a lot.

I have Taylor on my 73. I agreed on 10000. I pay 95 a year.

Now here is the big question who has the best collector car insurance?

I think the majority accepts that Haggerty is about the best Rebel, I don't have them but have heard more good then bad about them.

I just used them for my 73 satellite and they didn't hesitate to cover agreed at 18,000 when they saw the pics and the spec sheet.

I just insured mine with Heacock said I wanted 15K on it didnt hesitate at all!