Car prices and insurance values

hunt2elk

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Since it is getting close to getting my cars out of winter hibernation, I have been wondering about their actual values if I had to replace them. With how crazy prices have got recently even for cars that are not second generation Chargers, have you guys been upping the agreed upon values with your insurance companies?
 

dadsbee

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..upped and then some. Multiple cars lower the premium anyhow Joel so make sure you can live with the agreed loss. I added the HP2 to my policy for only 300 Canuck Bucks .. covered for $170K Cdn ! The car itself is actually $796Cdn/year, but they took another $125 off each of the other 4 cars. The third time they've (Hagerty) lowered the original two.
 

hunt2elk

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..upped and then some. Multiple cars lower the premium anyhow Joel so make sure you can live with the agreed loss. I added the HP2 to my policy for only 300 Canuck Bucks .. covered for $170K Cdn ! The car itself is actually $796Cdn/year, but they took another $125 off each of the other 4 cars. The third time they've (Hagerty) lowered the original two.
That is the one thing I don't like about my Grundy insurance, they give no discounts for multiple cars. I even asked them about it a couple years ago. Told them I can only drive one at a time, you realize. At the time, I checked around and nobody else could come close price wise. Maybe I need to check around again.
 

dadsbee

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I haven't even talked to a person at Hagerty since day one. All done online, listing the only two drivers at this address, stating stored inside and driven 2500 miles/year. They seem smart enough to, THINK, you can only drive one or two at a time.. me and wife... but anyone over 25 can drive my cars that doesn't live at this address. Hagerty's biggest nightmare is a "family cruise" ! LOL

When I entered the HP2 on Friday night I didn't expect anything from them on Easter Weekend. The online came up saying $371/year increase to policy and I owed them $26 for the month remaining on this years policy. Saturday morning 10AM I get an email acknowledging my policy change and insurance slips. Whom ever did it over rode the computer premium and keyed in "policy change $300" and changed the premium on every car to make that work. I'm now paying $2638CDN/year on 5 cars with an agreed value total of $560k.
 

roadrunnerh

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JC Taylor Insurance here. I actually have been thinking about this very topic. I really need to up my coverage!
 

moparedtn

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Wife tells me Hagerty is hitting us up $281 for $35k on Fred.
To their credit, they never did raise the price after I had my claim (some old fool bumped
the garage door frame with the GTX...)
I've bumped the value up on the car several times over the years, as I got more and more
things done on it - slowly.
 

Grabbergreendream

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I had to swap providers with my agent due to the company I was with pulling out of the Eastern US. No biggy, but the agent told us a lot of poeple are under-insured now. We raised our coverage years ago but evidently replacement value cannot be reached now, so they are totaling cars out at a lesser price than you can physically buy the identical vehicle for. The consumer suffers because the replacement car cost more than the totaled vehicle's value at the time of the claim.
Not sure I'm making sense but thats how it was explained to me. Again, we have increased coverage so it SHOULDN'T affect us, but a LOT of ppl on the road have minimum coverage or less..
 

XS22J8R

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I use an insurance broker, and have Hagerty now after they bought out the collector insurance company I was with.
They broker went to bat for me when I bought the Magnum, the most Hagerty wanted to insure it for was $15K and I wanted it at $20K. The broker got them to agree to that amount.
Adding the Magnum increased my premiums by $25 a year, I kid you not!
 

hunt2elk

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I'm now paying $2638CDN/year on 5 cars with an agreed value total of $560k.
That is a very good way to compare insurances. I don't know the US/Canadian exchange rate, but I am paying $998.00/year for my 3 cars with an agreed value of $145K.

Edit - just checked with Hagerty with the same values as I have now with Grundy and they want $1445.00/year for the same $145K coverage. I will just up the agreed upon vale with my current policy.
 
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dadsbee

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I'm now paying $2638CDN/year on 5 cars with an agreed value total of $560k.

I don't know the US/Canadian exchange rate
That's $2055US on $436KUS. One hell of a deal compared to any other insurance on value and I'm surprised to see that it seems you guys are paying more down there, in the land of everything else cheaper than us.
 
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cr8crshr

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If one has an original car as opposed to a re-built/retro mod, or not original, I think it is more realistic to value it moderately because no one ever gets out of the what they put into the project. I am with Hagerty and I also haven't talked to a singly individual that works there. My agreed value on my 66 Ply Sat, NOM and modified some, carries a value of 20K agreed value which is fine by me at this stage. It just sits in the garage gathering dust as I just don't drive it much any more. I'd like to sell it but have yet to move forward on that wish so it just sits. Crazy money these days for just about everything...cr8crshr/Bill:usflag::usflag::usflag:
 

Fran Blacker

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Priced Hagerty for my Satellite they said its value is $109,000! number 3 condition. My 65 Dodge I put $10,000 on that. Premium was $823.
 

hunt2elk

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Insurance companies must charge different depending on where a person lives. I know a lot of you guys have stated Hagerty is the cheapest, but it sure isn't for me.
 

LillianVaugh

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Values for car insurance have gone up a lot. Now everything is getting more expensive. It is no longer convenient to have a car. I realized this for a while, and I sold my car. If I used to pay 1500 pounds a year for car insurance, I would have to pay 500 more. Two thousand pounds for car insurance is far too much. I don't know about you, but I bought a bike. I bought a monthly cyclist insurance for only 1.90 pounds on the bike. I hope at least this insurance won't get more expensive.
 
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joe smith

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Insurance companies must charge different depending on where a person lives. I know a lot of you guys have stated Hagerty is the cheapest, but it sure isn't for me.
NO car insurance is cheap in Florida..... And I don't blame them, worst drivers ( there all Transplants from shitty states) ever
 

Big bill

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I'm lucky my cars are not worth anything they are all beat up rusty slant six cars that one one cares about so I go threw State Farm hell all my neibors think they don't run .
 

69a100

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Insurance companies must charge different depending on where a person lives. I know a lot of you guys have stated Hagerty is the cheapest, but it sure isn't for me.
My premium didn't change with Haggerty when I moved 2/3rd way across the country. My daily drivers premium when down!
 
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