dvu

Hello,

Taking delivery of 2024 911 C2 (MSRP 140K). How do you guys calculate ACV for the insurance policy and is that something y'all tend to adjust ever so often to account for some depreciation?

Thx

nyca

With Hagerty, its the purchase price of the car - with sales tax. I guess you can adjust each year with the renewal - but what is the replacement cost for a car like this? Is it the cost to buy the same car, new? If so, the ACV goes up each year, and you pay higher insurance. If you would be willing to replace the car with a similar used one, I guess you could lower the ACV each year - although with the wild asking prices over MSRP on pre-owned cars, who knows what that ACV even is - your trade in value? The CPO price for the same car? All in all, I plan to leave my ACV alone for a a few years.

dvu

Awesome. Exactly what I needed to know. Thx.

3rdpedal

My MSRP before tax tag and title and any add ons like tire and wheel coverage was $139k. I insured with Hagerty at $150k. However, you do have to remember that that amount applies to a total loss due to theft or damage. If you have a run of the mill accident, the insurance pays for the repair and then you have the fight on your hands to recover the diminished value.

dvu

Thx. I guess I never thought about collecting anything for diminished value after an accident/repairs.

Nick

Has anyone had experience with Hagerty claim department? Not all claims result in total loss. Are they responsive and easy to work with?