As I near the end of the build, I am looking to insurance and vehicle registration. Had a short talk with my insurance agent today and got the "lay of the land", so to speak.

They have two ways to write a policy: look in Kelly's or Nada at a 1985 xj6 in good condition and write the policy. Or get the car appraised and write the policy. Of course, I think my car is worth more than an original stock S3. So far, it appears there are no appraisers in my area who will look at a classic or any car with much interest. Many of you have show quality cars, many more have very nice cars, and many of you have cars that have been "lumped" like mine. I would welcome any and all comments on what you did with this issue.

I did email one outfit in the midwest that claimed to "service Alaska" even though they were in Michigan. They emailed back to say that if I wanted to be a "field appraiser" for them, they would send me appropriate forms and directions on how to judge the car and document with pictures. All for $295. I asked how the final valuation was determined and who did it, haven't heard back yet. Has anyone heard of this approach?

Thanks

Dave

 

My former profession was in Insurance Claims. Fifty years at various levels and in most lines of business. Auto, not my favorite. The last 20 as an Independent Adjuster.

1. Write the policy as an ACV. Actual cash value. Willing seller and willing buyer.
The adjuster will conduct an appraisal. Somewhat similar to a real estate appraisal
Find comparables. Kick out the high and low and average. If you and the adjuster do not agree. The policy provides an Appraisal clause. More like an arbitration.

You pick an appraiser. The insuror picks one. Those pick the third. They deliberate.
The result is what you get. Done. Fino!!!

2. Agreed value. Similar to number 1. You hire an appraiser. The insuror agrees and computes the premium based on that sum. If you have a loss, that is what you get. /

3. The 295 deal is a scam or close to it. Forget it.

 

Thank you for that advice Carl, especially #3. The real problem is there are no appraisers in my area. I think I will I see if there is one Fairbanks, about 400mi away.
Thanks again.

Dave

 

contact American Collectors Insurance for a STATED VALUE policy to see if they can cover Alaska. Your car is a classic now.

​​​​​​You do your own valuation and value with pictures and YOU state what your car is worth, noone else's opinion but yours. That is how I have both my Jags insured. The policy comes with added $500. coverages for parts, towing, and other benefits. Few limitations on usage but not like Hagerty Insurance which limits use of insured car to weekends and car shows

the "field appraisser" thing in Michigan definitely sounds like a scam. I agree with Carl.

Plugs arrived?

 

I have both of my Jaguars insured by Hagerty Insurance with a 5000 mile limit per year plus glass and towing. I got this through AAA.
Jose's opinion of Hagerty is incorrect. I have been with them for the past 8 years.
Policy cost decreases as the years go by without a claim.
Requirements for their Classic Car Insurance:
1. You must have another vehicle for everyday use.
2. Pictures of the exterior ( both sides, front and back), interior, mileage and engine bay.
Because my cars are LUMPED, they sent an appraiser to inspect the conversion.
3. Agreed value if the car is in an accident and not repairable.
MY EXAMPLE:
1985 XJ6: $10.000
1988 XJS: $15,000

 

1. Further to Sanchez' comments about Hagerty (all of which match my experience)...I'm with them 11 years now...we had agreed $11K (CAD) on my XJS back then, and recently I asked them to increase it to $18K based on auction results. They took a day and came back and said yes without requesting any docs or photos.
2. For $25 or so, there are online appraisers who don't look at the car in person. I used one for another car because an appraisal is required to register 20+ year-old vehicles in Ontario (the province uses the figure to calculate sales tax). Fill out a form, send some photos, and the appraisal came back at the precise amount I paid--they had asked that question on the form. Not much actual appraising done but I got my car registered.

 

all you have to do is compare Hagerty to American Collectors policies.
I did compare both policies and went with American Collectors. A lot less restrictive, and quite less expensive too. Hagerty is over-rated.

 

here is a comparison between Hagerty and American Collectors:

https://americancollectors.com/vs-hagerty-comparison/

 

Come to think of it, Hagerty covers Classics (my XJS) and Custom cars (your XJ, Dave). Maybe the custom ones are more expensive?

I'm not sure what "over-rated" means, but Hagerty has been there for me during a windshield claim ($1800) and roadside breakdown (different car). They've made it easy for me to get the coverage I want at what I consider good rates. $304CAD for the year on that XJS.

 

FWIW, I'm with Hagerty as was for my TR6. I dunno how it compares to others; I didn't shop around. But it couldn't have been any easier to get the policy.

Cheers
DD

 

My house and five cars are insured by State Farm Insurance. Both my 79 and 87 XJ6s have stated value policies. In each case I cleaned the car and drove over to my agent's office. He took lots of pictures and filled in a questionnaire including what value I was requesting. Then he sent it off to the home office to be evaluated by their classic car department. The 87 (all original) came back evaluated at $13k which I felt was great. The 79 (a very nice conversion) came back $8500 which was lower than I ask for but ok. So in a total loss I get a check for that amount plus I have full liability, medical, etc.

Last year I called Hagerty for a quote for the 87. They have policies for every situation including lots of driving as long as it is not your daily driver. They are very efficient and professional and offered coverage at $13k without even looking at it. I thought that was excellent.

But ….in America there are two types of courts. So let’s say your car’s brakes go out and you injure someone. You probably will be charged with breaking a law and have to go to court. Then after that the injured person hires a lawyer and vows to “sue you for every cent you have.” The first thing his lawyer will do is see what you are worth. House, business, car collection, life savings, etc. That’s how much they will sue you for. This is where Umbrella Coverage comes in. So in my case my car and house insurance are tied to my Umbrella Coverage. So if I get sued for something that happened in my car I am protected up to the amount of that umbrella policy.

Hagerty had no way to offer Umbrella Coverage and State Farm only provides that coverage if they also provide the underlying car and home policies. So that’s why I have State Farm stated value value policies on my classic Jaguars.

Jeff

 

Another vote for Hagerty here. I went low with an 8 k agreed value, it was 350 a year, I did notify them when I did the lump and it went to 380 a year! As stated, all I had to do was send them pics of all angles plus interior, couldn’t be easier!

 

I am surprised that you all are paying that much for your policy with Hagerty. But then again, I have my Senior Citizen and AAA discounts.
After being with them for over 8 years, I pay less than $250 per year for both cars.
As stated earlier, because I never had a claim, my policy stays the same but the premiums get lowered by a certain % point yearly.
When I called to insure the 88 XJS, they sent me a form to submit back to them if I wanted to increase the 'AGREED' value.
To add the 88 XJS to my existing policy the cost prorated was $68.00.
Going forward. my yearly cost for both vehicles is going to be $238.65. Maybe less if a new discount is applied in January.
You can't beat that.
I have 3 other cars with Full Coverage from GEICO that cost $1,674 every 6 months.
BTW: I have never had a ticket or been in an accident since 1970. That counts for something, I think.

 

Reading this thread I'm nothing sort of Astonished!
I've *Never* insured a car for "replacement value." Never could afford it.
Public Liability for Nix, one step above Minimum Required, costs me TWICE as much as any of my other fleet!
I've never been asked about power train or anything else other than annual mileage driven (this past year that's not been very far!!) same as any of the rest.

Of course, this IS California, and things are always a little Different here.
(';')

 

Wow, glad I live in Ohio. The 87 I mentioned above which is stated value of $13k costs me $150 per year. The 79 is even less. Of course I am old as dirt and no accidents or tickets ever. And I deffinetly get the "multi-car" discount.

 

Jose,
I'll look them up today! I've never heard of that kind of valuation, but I'll see what they have to say. Plugs arrived on time, look good.

Thanks

Dave

 

Great info Jeff, I also have State Farm. Been with them all my life (long time) and have everything insured by them. This "stated value" term everyone is using is very interesting, I'm going to talk to my agent again.

Dave

 

Sanchez,
Your insurance costs with Hagerty sound very good. I also have 3 other vehicles with State Farm, they cost me about $1150 every 6mo. And again like you, my only claims have been windshield replacements, lots of gravel roads up here. I have every discount they have.

Dave

 

Elinor,
Who are you insuring with? I had not considered insuring without physical damage coverage. If damage is caused by someone else, they cover repairs, if damage is caused by me, I cover repairs. Time to add one more option to the mix.

Dave

 

Aye!

My cars are old. ACV is low. I buy liability insurance only. No collision or comprehensive.
I do buy uninsured or under insured motorist. Road service with a separate insuror

100/300 And 50. Umbrella would be wise. I choose not.

.Why? I have not driven much at all.... COVID!!!!

House and autos were in Farmers. Farmers dumped my HO policy. Nevertheless I kept the cars with them. Ab it disgruntled., oh yeah.
But, I found Berkshire Hathaway/ Guard for the house. A better deal than I had!!!!s

FIG hs never concerned themselves with what power train the Jaguar has.

Wonder what they might say f it got a 700 HP Dodge engine!!!