Raising my Mavs ins coverage

OK so my insurance broker is now partnered with Haggerty. I sent them an email and they are doing agreed value.

Any advice on how to get a good value on my car??

 

Don't you have it appraised?

 

I'm subscribing to this thread. I also have agreed value. I suggested $10K and insurance agent said "OK". I just took a stab at what I might be able to sell it for. Really have no confidence in the number.

A nice add to one of the gatherings would be to have an appraiser available for anyone that wanted to get their Maverick or Comet appraised.

 

For 10 grand, you couldn't replace your car.

 

It couldn't be rebuilt for that, that's true. I've carefully avoided adding up what I have in it. Don't want to know. Like lots of others its now one of a kind. I was thinking about what it might sell it for. Think I could buy a pretty nice Maverick for $10K if I lost mine. Might be nice if there were some way to know what the Mav/Comet community thinks its worth. (Or, maybe not!!) Darren, what do you think about having a Mav/Comet-savvy appraiser at a gathering?

 

When your standing in the court room, I'd hope you'd have something more than a parking lot appraisal to back up the value of your car.
Up here, you have to be licensed to appraise cars, and it usually includes a well documented report all about the car.
My insurance company, which is the same as Darren's won't just accept any appraisal, they want to make sure the person doing it knows what they are doing for your own protection.
I know a few guys that have lost their cars, it's always more than anyone thinks to get another in the same condition that they had before the accident or fire.

 

If I understand it (never been thru it), its much simpler here. If the insurance company agrees on a value, you pay a premium they set for that value and, if there is a loss, they pay off at that value. No debate about value once the agreed value policy is in force. Someone please jump in if I'm missing something.

There are lots of appraisers but I expect a lot of them don't know beans about what a customized Maverick might sell for. Seems a lot of car guys have no respect for Mavericks. Might be true for appriasers too.

 

Mines insured for double that amount and i probly couldnt replace it for that reminds me i need to call and raise mine again since ive made some changes

 

Have you ever had it appraised?

 

no, didnt need to

 

A true appraiser sees beyond the make and model of the vehicle. Market value does have some consideration, but whats been done to the car, and the condition of the car is what really matters.

I have a good friend with a Boss 429 (which he drives), agreed value of over $250000.00 with his insurance company. 2 years ago some kid stepped off the curb, goofing around, only to find himself the new hood ornament of the Boss...the insurance company tried to just put any 1970 Mustang hood on the car, but since it was a very original, date coded car..they had to go the extra mile and buy a NOS hood for the car.....

 

Mine is in no where near as good of condition as any of yours but when it was hit in the passenger's side destroying the door and forward portion of the quarter panel, I was sure they would total it. The guy came out and introduced himself as the ins company classic car adjuster and he made a phone call and cut a check for $2900 on the spot. I wouldn't lowball the value of your cars. I think you just have to find a good appraiser

 

That's the way I understand it also. I insure w/ Haggerty Agency -- Essentia Ins. Co. Agreed value here -- means, just that, Agreed value.

 

But if the agreed value is too low, what good is that? And if your car isn't a total loss? Now days with "No Fault" the more you cover your ass the better.

 

If agreed value is to low, the insured will suffer whatever the loss of insuring to low.
I guess it comes down to how much risk the insured is willing to shoulder.
As far as damages go; that is most likely an area for the claim adjusters and repair shops. In any case, the understanding I have is agreed value is all u will get whatever the situation.