I was researching values for my '97 XK8 to determine an agreed upon value for insurance. I checked several sources to get a general appraisal.
To my surprise, Edmonds appraisal has a negative value for low mileage. I have attached the page.
I sent an email to Edmonds to ask why and received this reply;"Thanks for reaching out to Edmunds! Please note that we read all Feedback submissions but we may not reply to all.

We encourage you to visit our help center for questions to our customers' most popular questions.

Any ideas ?

 

I got insurance through an agent for HAGERTY and the agent wanted to know what the value was for one of my XK convertibles.
I said I did not know. It is a 1998 XK8.
She asked if it was in fair, good or excellent condition.
I said good.

She asked if $15,000 was a good estimate?
I thought it was WAY overpriced.
She said "let's try $15,000".

She typed it in and it came back as acceptable.

Hagerty has my two XKRs valued at $16,500 each and my XK8 at $15,000.

You have to have a daily driver and use the Hagerty cars as fun cars or collectible.
I also opted for the 'treasured heirloom' or some such wording and I can get the full amount of a total loss plus keep the car.
It is an AGREED UPON VALUE so no arguing for repair or replacement.

All three cars are about $1,000 per year TOTAL insurance for me in my area.

 

I think you are looking at 82K miles as low when they see that 82K as high.

I would tend to agree with them.

While for the age 82K is a low aggregate, it is still a lot of miles that take their toll on the car.

With no easy way to determine how well it was cared for, I get their reservation.

 

I need to add that at no time did anyone ask the mileage of any of my convertibles.
One XKR has 160,000 mi
One XKR has 80,000 mi
The XK8 has 150,000 mi.

 

for some reason my 2008 xk conv ( not xkr) costs me $850 annually. 17000 value with hagerty. No tickets. no accidents since 2005.
I'm satisfied but now question the pricing structure.
wj

 

I am in a rural county.(Fort Worth is the closest big city in another county)
When I just had two XKRs that yearly total was about $900.

I added the XK8 it went up $100 so maybe a multi-car discount?

I do have 10 running cars. Six of them Jaguars. Three farm trucks and a VW New Beetle Diesel with 420,000 miles on it.

No insurance on all of them at one time. I just rotate the trucks and daily drivers.
Hagerty stays on the convertibles year round.

 

Unless it's a collectable, I don't carry full coverage on any of my vehicles. Instead, I carry an appropriate amount of liability and then invest the difference between that and full coverage. Has worked out in my favor very well. Especially considering I have had 0 collision or comprehensive deductible.

 

maybe a multi-car disc, hope I don't need to collect on mine.
wj

 

Years ago I insured my vintage Shelby’s and other cars with a variety of different insurance companies. Without exception Hagerty settles claims much better than all the rest. Maybe their premiums are higher, IDK. But if they are, it’s paying for what you get.

They even took my side against their own adjuster on a $20,000 +claim on a claim accident on one of my 1966 Shelby GT-350’s. The adjuster wanted to use aftermarket sheet metal. I told Hagerty that would lower the value of my Shelby and that I wanted NOS Ford parts / sheet metal or good used Ford parts. Hagerty agreed with me and paid the claim even though it cost them twice as much.

Now they have a loyal customer. You may save a few $$$ with some other company. But when it comes to needing to make a claim, good luck with that.

Z

 

I live in the UK. My experience is that agreed value insurance/ classic policies are not worth the additional premium. My non-agreed value all risks policy/ comprehensive was one third the cost of agreed value equivalent.
If I was ever unfortunate enough to right the vehicle off, I figure I could buy back the ‘wreck’ and put it back on the road myself at a fraction of the cost.

 

Just to give the UK perspective on pricing, I insure three cars on a group policy with the JEC insurers. Daimler Super V8 (105k miles), XK8 Conv (106k), XJ6 S3 (78k).

They policy covers agreed values and unlimited mileage, and European breakdown cover is included. Total annual premium is £420 including tax.

It feels like good value...

 

Thanks everyone.
I did insure it as a classic/vintage car, agreed upon value of $7000. My insurance company partners with Hagerty.
Full coverage $70 for 6 months vs $217 for liability only. I have never had a problem with my insurance company for 50 yrs.

 

I also have Hagerty, in fact, I have just upped my insurance value to 25K, and they accepted it. I have a 2000 XKR with 66K miles. My premium, with the Heirloom option is $500/yr.....I find that to be a bargin. Unfortunately, I just got rear-ended last week....nothing too bad, but my trunk lid is deformed with a dent and scratches. I have a claim in process and awaiting resolution. I have one quote at 7800$ to repair. Hopefully all goes smoothly.