There must be a price for living in Paradise

 

If you want cheap rates for these cars you need to be on classic car insurance/declared value. They have some restrictions but most aren't too bad.

Standard carrier rates for these cars are laughable, because new OEM Jaguar parts prices are laughable, because shop rates are laughable, and because shops love to dig in and find other things to replace on the insurers dime. It doesn't really matter that they're 80% depreciated or more. Insurers look for any excuse to total it then.

Think of it like this, with classic car insurance you're in an insurance pool of a whole lot of people who don't even let a raindrop get on their car.

With standard carriers you're in a pool with every moron on the road.

 

Where do you find classic car insurance?

 

​​​​​I insure my XKR at a stated value that I determined with
Hagerty Collector Car Insurance.

No need to worry about value if it's totalled.
https://www.hagerty.com/insurance/cl...xoCrx8QAvD_BwE

 

Regarding "Agreed Value", "Stated Value", and "Declared Value".......You want Agreed Value. That means the insurance company will pay you what you and the insurance company have "agreed" to. Stated Value and Declared Value are not the same as Agreed Value - there's a big difference. With Stated and Declared, that is simply what you have stated (or declared) to the insurance company what you think your car is worth. They say "OK, fine" and write down that amount as Stated or Declared. In the event of a total, they are probably not going to pay what you have stated or declared. They will have their opinion on what your totaled car is worth. And good luck with the hassle of that fight.
Some name-brand big insurance companies offer Agreed Value, and some only offer only stated/declared. Companies like Hagerty, etc. offer Agreed Value. I have true Agreed Value on my 993S through Erie (all of our cars and house are with Erie), and the yearly premium for Agreed Value on the 993S was about 40% of what Hagerty, Grundy, & Taylor quoted me for the same coverage/value.

Cheers.

 

Thanks Stuart. Just got a quote from Hagerty. They're 715/yr for declared value of 30k and 3k miles annually. Currently my State Farm is 678/yr. (less than 10k mi). You're probably right about rate increases. Called my agent to ask. His secretary scheduled a meeting so he can discuss my options to "trim costs". I like coverage based on declared value rather than what a standard insurance company decides an old Jaguar might be worth.

 

Google "classic car insurance, or "collector car insurance".

 

interesting..I just tried to get a quote and they replied I did not qualify. I think the 8,000 miles a year was the issue...but it is what it is.
wj

 

perhaps but when I asked for a quote, I didn't qualify because they said the policy was for pleasure driving only. I asked if that meant I couldn't do a target run and she said "correct". I then asked well what if I get pleasure from going on a target run?

We laughed and then hung up the phone.

 

You are correct, your annual mileage is too high. Is your 2008 XKR your daily driver? If so, it's not a collector car.
Hagerty Eligibility Guidelines

 

My quote based on driving max 5k/year. Does anyone have personal experience working w/ Hagerty when there's been an accident or the car was totaled? Did it go well? With State Farm, it's always been simple. Generous settlements done promptly. For both our house and car claims, I've always been pleased with the outcome.

 

You are correct. Terminology matters with insurance. I erred by stating the value that we would agree to. Clear as mud. My bad.

Hagerty eliminates that ambiguity by calling their product "Guaranteed Value®". That's a registered trademark, proprietary to Hagerty.
​

 

Thanks to OP for getting this conversation started. There are multiple classic car insurance companies including Grundy and Chubb. Different restrictions and requirements. Kelly shows 17-21k private sale for my showroom 07 XKR w/ 31k miles. There's a lower mileage 09 XKR on Bat which is currently at 30k 5 days out. Nice number and I'm sure Stuart agrees. If I stay w/ State Farm, no way I'll get full value if the car is totaled.

 

Hagerty didn't work for me, a few years ago they wanted $8K per year for the Jag driven no more than 1K miles per year with an agreed value of $50K. My regular insurance at the time was about $1200 per year. I've now switched to another major company for what I was paying before their massive 400% rate increase.

 

Here's that 16k-mile 2009 XKR Convertible on BaT now. It's not a Portfolio model, but it is fully optioned including the Alcon Performance Brake Package ($5,000) and Adaptive Cruise Control ($2,200), a rare find with both. The Carfax shows an accident.
https://bringatrailer.com/listing/20...convertible-5/

In 2022, BaT sold this 31k-mile 2009 XKR Portfolio Convertible for $40,250. It did not have the Alcon Performance Brake Package or Adaptive Cruise Control.
https://bringatrailer.com/listing/2009-jaguar-xk-9/

It's hard to predict what an XKR (or any car) will bring at auction. Personal tastes vary. For me, I'll never buy an all-black car again.

 

I said that and then couldn't pass up a good deal.
wj

 

yes but at my age and location that is 2 or 3 days a week, lunch is 30+ miles round trip out for drinks is 40+ miles rt, sunday is 80+ miles rt. A saturday drive in the hill country could be 200 miles. But yes, my DD. Poor little 2004 mazda has 67k on it, original owner.
wj

 

Just did a quote with Hagerty: 2007 Jag XK coupe, Ambler, PA, 72 YO male, no accidents, no claims, no tickets, 2 other drivers, $20,000 agreed value, $300,000-$500,000 liability - $450.

 

what annual milage did you state
wj

 

3500 miles per