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I've had my 2002 C4S with Economical (who insures my other cars). My broker got a quote from Hagerty at roughly the same yearly premium (~$900) but there is replacement value. When I asked what value they have set, he said their system spit out $27,400.
For an '02 C4S with sub 60,000km, in great shape, with LN's IMS Solution done, this seems low.
I asked for a $50k valuation. He called Hagerty who said it has to be concours quality and it would cost $1,429/yr. I'll likely have an appraisal done (I can't remember who appraises cars on here, can you reach out to me?) and I've asked my sales rep at Pfaff what he would realistically sell my car for today. I'm guessing I'd have to pay $40k for a similar car then I'd be into the $8-10k to do the RMS, clutch & IMS Solution that I've already done.
I store the car Nov 1 - May 1, in my secure garage, and I drive it approx 2,000km per year - on the weekend here & there and some cruises.
I'd love any feedback from the more experienced Rennlisters.
If you want agreed value make sure you get a 19a policy.
My 87 is appraised at 55k and my premium with Hagerty is about $700ish a year, $1490 seems high. But that might be because it’s not over 20 years old to fall under the classic policies.
Last edited by Adamant1971; Apr 12, 2019 at 05:44 PM.
But that might be because it’s not over 20 years old to fall under the classic policies.
Pretty sure it's this exactly. 25 years and older to qualify for classic insurance. They're probably taking a standard deductible curve and applying it to msrp over 17 years, under a standard policy.
That number from Hagerty does seem kinda high to me as well. I have two cars on my policy with Hagerty with a combined total just shy of $90k in agreed value and I'm only paying $1500 total for the two cars.
I think Vintage insurance has better prices with 19a.
I do appraisals, feel free to pm me for the rennlist special
I also can help if anyone is fighting for settlement value.
I think the theory is newer cars are being used as daily drivers and insurance rates reflect this. The idea of classic insurance is occasional use, not trying to get cheap insurance for you summer daily driver.
Just my 2c
I think the theory is newer cars are being used as daily drivers and insurance rates reflect this. The idea of classic insurance is occasional use, not trying to get cheap insurance for you summer daily driver.
Just my 2c
Makes sense but I told my broker it is garage stored and only occasionally driven. I put less than 2,000km from May - Oct and that includes 2-3 cruises.
Makes sense but I told my broker it is garage stored and only occasionally driven. I put less than 2,000km from May - Oct and that includes 2-3 cruises.
I have a C43 I enjoy driving daily.
I think they should cut you slack if you show milage
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Replacement Value Insurance
