Appraisals

[joedls]

Anyone here had a proffesional appraisal of your car done? And if so, how accurate do you think it was?

I just had one done for my GT/CS and it came back considerably higher than I would have thought.

 

[68gt390]

I had one done several years ago on my GT Coupe. I was kinda supprised that even though the car still retains it's original sheet metal and factory paint plus being a 390 "S" code it came back rather low. Entire under carriage has been replaced, motor rebuilt, interior replaced, and posi added. The only thing she needs is new paint not that the original paint is that bad. The appraisal came back in the low 20's. But, the fact that it's a coupe may have had something to do with it.

Don

 

[390cs68rcode]

The person I bought my 390 CS had one performed on it. They put a value on the car and I paid what they appraised it at. Lucky for me they were roughly 50% lower than what it was really worth. :grin:


Be careful on values they put on them.

 

[Mosesatm]

I'll be most of us could give better Mustang appraisals than most of the "professionals"

 

[joedls]

I only had my cars appraised for insurance purposes. It was done by a very well known and respected appraiser of classic cars in the area. So afterwards, I increased my coverage by approximately $20K.

 

[hcsstang]

I have my insurance with J C Taylor. The amount of coverage can be only at what you have it appraised at. I had it appraised about three years ago. I called the appraiser up about increasing the value and it's got to be appraised again. The appraiser said that he will be at AACA Grand National Dover Del. Another hundred shot.

 

[Mustanglvr]

I`m having full coverage insurance put on my GT/CS. Would I have to have classic car insurance for it or can it be just like any other car? They want to take pictures of it today because its over 10 years old.

 

[68 special]

I have full coverage on mine through American Modern Home Ins. It cost me $100 a yr. That will probably go up as I plan to change the value. I was thinking the other day that I should've put the value as replacement value instead of what I thought my car was worth. As values go up I couldn't even replace it with a rust bucket for what I have the value set at. To replace it could cost anywhere from $20- $50G's. I can drive it anywhere so long as I'm with the car. I'm not supposed to drive it to work even tho it's in a secure area.

Note to self----Call insurance!!!

Bret

 

[68gt390]

I`m having full coverage insurance put on my GT/CS. Would I have to have classic car insurance for it or can it be just like any other car? They want to take pictures of it today because its over 10 years old.

Rhonda;
I have mine insured through State Farm for an agreed upon price. Initially they sent their appraiser out to look at the car and take pictures. From there we came to an agreement for the agreed upon price. It is insured the same as all my other cars. Once the new engine is in I plan on having the car appraised and see how close it comes or if it exceeds what my current amount of coverage is. Will be interesting to see how it comes out.

Don

 

[Mustanglvr]

Will having a 289 in the car cost me more in premiums, then if I let them think it still has the 200 in it? If I wrecked it then I would only get enough to replace a 200 right?

 

[68gt390]

Will having a 289 in the car cost me more in premiums, then if I let them think it still has the 200 in it? If I wrecked it then I would only get enough to replace a 200 right?

Rhonda;
I would be up front with them from the start. If you should wreck the car (heaven forbid that should happen) and they find out when you insured it and stated and signed all the paper work saying it was a six cylinder but, it in fact had a V-8 they could refuse to cover it. The premiums may be a little more but, well worth the extra cost to ensure the car is covered properly. Besides, I'm pretty sure when they look at the car any insurance agent or appraiser they send out will know it's a V-8. That's just my take on it. I know even when I redo my insurance with 428 CJ I'm sure it's going to cost me more than the 390. But, I want to make sure the car is properly covered.

Don

 

[Mustanglvr]

Ok Don, thats all I needed to know. I always figure honesty is the best policy. Ha, ha, were talking about insurance and I said policy.

 

[AZ68]

Does any one use Hagerty?

I'm trying to decide what collector company to use, and I have a friend with a '69 Mustang GT fastback and a '72 Vette who uses Hagerty and he is telling me to go with them. Does any one have experience with Hagerty? Can any one give a good recommendation? The car IS driven for pleasure on the weekends, and not just for car shows, but there are no more 5,000 miles/year put on the car. AND, it gets drive to work ONCE in a while.

 

[Mosesatm]

Driving to work is a huge problem with most collector car insurance companies.

 

[hookedtrout]

I'm trying to decide what collector company to use, and I have a friend with a '69 Mustang GT fastback and a '72 Vette who uses Hagerty and he is telling me to go with them. Does any one have experience with Hagerty? Can any one give a good recommendation? The car IS driven for pleasure on the weekends, and not just for car shows, but there are no more 5,000 miles/year put on the car. AND, it gets drive to work ONCE in a while.

I have Hagarty and I have been very happy with the coverage. I'd recommend them any day. I drive mine to work, in fact I drove it to work yesterday and the day before in fact I drive it when ever and where ever I want and Hagarty never gave me any instruction otherwise so I don't see any issue with Hagarty. I obviously don't drive the car daily and I'm sure they knew I wouldn't and that is why I don't think they see it as an issue.

Cory

 

[AZ68]

Driving to work is a huge problem with most collector car insurance companies.

I know this, but sometimes I just can't resist!! Actually, since my car is in Phoenix, it's my father that drives it sometimes because HE can't resist. It's definitely not for the lack of another vehicle. I guess I will just have to be very strict when it comes to my car and I buy special insurance. RIght now, it's insured "normally" like my Expedition, but the value is VERY low. ANd as some one said earlier, I couldn't even buy a rust bucket for what my car is insured for.

 

[BroadwayBlue]

I'm with Hagerty as well and don't have any problems. So far so good.
And limitations were minimal.

 

[ClskMstg]

I use a company called http://www.parishheacock.com I have had very good luck with those folks, and have never had to submit anything other than pictures of my vehicles.

Most apprasials are high for insurance purposes. Also, you need to allow for the appreciation of the vehicle. (it's most likely that most people will *not* get their vehicles every year)

I have found with Hagerty, and Parrish as long as your requested value is within reason, there are no problems.

Just remember to make sure your policy is *agreed* value, and not *stated* value.

:smile:

 

[Redwingrobb]

Thanks everybody. I just went to my Allstate agent yesterday and had him take pix of the Mustang and Barracuda. He then tells me full coverage on both is a little over 200.00. Saved myself 500.00 instead of using USAA...Robb

 

[luisa2552]

Here's my insurance story. When we got the car I added it to my 'regular' insurance at USAA where our family car is insured. I had 'full' coverage, the same I have on our other car. It was $525 a year. It was less than our MDX and we got a second car discount so I thought it was a good thing. I had full coverage even though I told them it would be driven less than 1000 miles a year. Fast forward a year or so. The wonderful people on this site opened my eyes to classic car insurance. I first called USAA to see if they had something similar, since they are a great company. Turns out they contract with American Collectors, so I switched over. I have the value at $25,000 and full coverage with no deductables for just $161.40 a year. All I had to send was one picture and of course a full description of the car. I was rather angry with USAA for not offering this to me in the first place. Had I wrecked it during the time of 'regular' insurance, I would have only gotten blue book for a 'regular' 68 Mustang. I got a quote from Hagarty and one other one but American Collectors was the lowest for me.