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Curious, if I may ask, what is agreed upon worth and your premium ?
$12,500; $475 annual premium (Note: The actual insurance premium is $430. They collect an additional fee to cover membership in the Hagerty Drivers Club. Their emergency roadside service and they stipulate that emergency service is only covered if they dispatch it. Haven't had to use it yet, but just another perk. And a nice Hagerty Drivers Club magazine comes out every 2 months.) Something worth noting - When I compared the insurance premium for the current policy period to the last policy period, the premium actually decreased! It was only a few dollars, but nevertheless, no increase was passed along. I believe that because they serve primarily a collector car market, they don't have that many claims compared to typical insurance firms. Probably related to drivers that are more focused whenever behind the wheel & less risk due to an agreed-to annual mileage allowance. I do remember that the initial mileage allowance I submitted was considered excessive by Hagerty & they asked to consider reducing it & they would provide coverage. My $0.02.
Last edited by dedwards0323; Oct 9, 2021 at 09:55 AM.
I have had collector car insurance with American modern threweacock classic for my Mustang and checked into USAA and Haggerty earlier this year. USAA seems to have the highest ratings in online comparisons and I would like to keep all of our insurance in one place so I thought I would see what they can do for us since I am eligible for membership but I will consider other options. I’m just really dissatisfied with our current agent. Our current premium for the Crossfire is $184 for six months with a $150 deductible. It would be worth paying a little more for an agreed or guaranteed value policy in the event that we would ever need to make a claim.
I stopped worrying about what mine are "worth" long ago. That only matters if you want to sell, and I do not. I receive too much enjoyment driving them both, and each has a different personality. And they still look damn sexy for a 16yo vehicle.
At the end of the day we aren't insuring $100K+ collectibles. If it hit the fan and my 2004 XF in VG/mint condition with 55K on the clock was totaled do I really care about getting a $12,500 stated settlement value that costs me $475 a year when I'll get around $5K for it totaled. I have 3 cars insured with USAA that combined costs me $1,100 a year with $1 Million/$1 Million liability, $50K property if I hit another car, and a $250 deductable on the XF (others are at $1000). It will suck if this car gets totaled by the insurance company but going with a stated value just costs too much more for an accident that probably will never happen. Yeah, these are cool cars but they ain't worth much now nor will they ever be unless you own one of the last 20 remaining 100 years from now and you'll be long gone by then.
Well, I will be finding out soon on that one. My son entered into a failed negotiation with a sharp, off-camber turn, and then got a physics lesson in the form of an immovable object (tree). The right front corner of his 04 coupe is rather smashed. Bumper cover, fender, fog, headlamp, corner lamp, headlamp bucket, inner fender apron and liner, probably more - all casualties. Not to mention scratches all down the side of the car, hood and even the roof. About 30 minutes with a prybar, and a couple of hours with Gorilla tape and packing tape (yes!), the front end looks somewhat passable, and the pieces of headlamp are somewhat reconstituted. Next we will see what the insurance has to say about it. I am not betting on much, but although it seems to run and drive just fine, they won't want to fix the car. Anyone out there have a ballpark of what insurance is offering out on these cars these days?
Well, I will be finding out soon on that one. My son entered into a failed negotiation with a sharp, off-camber turn, and then got a physics lesson in the form of an immovable object (tree). The right front corner of his 04 coupe is rather smashed. Bumper cover, fender, fog, headlamp, corner lamp, headlamp bucket, inner fender apron and liner, probably more - all casualties. Not to mention scratches all down the side of the car, hood and even the roof. About 30 minutes with a prybar, and a couple of hours with Gorilla tape and packing tape (yes!), the front end looks somewhat passable, and the pieces of headlamp are somewhat reconstituted. Next we will see what the insurance has to say about it. I am not betting on much, but although it seems to run and drive just fine, they won't want to fix the car. Anyone out there have a ballpark of what insurance is offering out on these cars these days?
Probably going to be totaled in my opinion so you are in for a fight with the insurance company that will take KBB value as it was (that is grossly low given the increase in used car prices) and cut it in 1/2 to get to a settlement $ they will offer out of the gate. Start searching AutoTrader.com and start looking for comparable XF's in terms of mileage and age and what they are asking. If I were to guess the insurance company will come out of the gate with a $3K - $4K offer so get ready to fight. I fought an insurance company on a liability claim that came out of the gate with a $500 offer and after arguing I got them to settle for $12,000 with no atty's involved other than the threat that I'd engage one. That took almost 2 years of fighting. It all comes down to how much your time is worth and how much time you want to spend fighting for probably an extra $4K taking the settlement to a more realistic $8K that both parties can live with.
Last edited by Deepsea21; Oct 25, 2021 at 07:39 PM.
So, insurance is going by the quote to repair the car from the body shop, and offering about $3500 payout, and we keep the car with a clear title. I may go that route, as I am confident the car can be repaired for less than that, by adding our own elbow grease. They have not given me a number yet for totallng it out.
Already met reserve at 5500? What does Hemmings get for selling??....20-25%??
If it even brings 8000 he's probably not even gonna clear 6 grand...
We'll just keep our 2004 Limited Coupe 34K mi example...anything less than 10K clear (and that would be stretching it a LOT)
wouldnt be worth selling too enjoyable and still pretty much LN
He probably only cleared about 6 after fees...Have to be pretty hard up for money to take a lousy 6 grand for what looked like a nice 74K mi example.
If THATS all they're bringing I'll just keep mine, thank you very much
Re: Coupe value going up soon??
