Appraisal for insurance

[don t. - 72gmc]

Tried to change the insurance coverage but the ins co says they need an appraisal. I've never done this before. What should I look for in an appraisor?
What questions should I ask? Anything Im missing, but do not know to ask?

TIA....don t. .....

[ChevLoRay]

If you know someone in the car business, you might ask them. There was a question on here yesterday, asking how NADA determined their published values. So, check out www.nada.com and go to their used vehicles tab and select your vehicle and year and model.

Stated-value coverage on my '67 Impala convertible (back in '80) was $3500, based on an appraisal by a car lot that my agent would accept. That was more than I had in it, so I was good-to-go.

[dmwphoto]

My company asked for a stated value and either pictures or come by for them to look at it. I put it at 18000.00

[70cst]

Like has been said. I put a stated value on my truck...sent pics... and I am covered. I went with Haggerty.

[69oldog]

x2,Hagerty

[02vetteracer]

Chrome insurance company = stated value to 21K, I took picks of engine, interior, and 4 sides, no issues.

[don t. - 72gmc]

Ive been w/state farm for 20+ yrs. This actually started with the wifes 68 chevelle, trying to reduce the number of miles driven/year on the policy. Its much cheaper than current cost. According to the agent, because stated value is greater than X, I now need an appraisal to change coverage. I figure I'll get my 70 GMC survivor appraised as well.

Thanks to all for your replies.
I do appreciate it.....don t. .....

[tdp67]

Originally Posted by 70cst

Like has been said. I put a stated value on my truck...sent pics... and I am covered. I went with Haggerty.

Did the same but with Grundy, very easy to work with. Just sent them pictures and got an agreed value policy.

[dmwphoto]

mine is Nationwide BTW

[red69ss]

I went through the same thing with state farm who I use for my daily drivers. I went to a local used car lot that I thought would have a clue about classics and they gave me the stated value that I asked them to quote. with state farm my ins. was about $500 a year per classic. About 5 years ago I went with hagerty ,they don't make you get an appraisal you tell them how much coverage you want e-mail them a pic and your good. now its about $200 a year for $20,000 on one classic. There are some restrictions with hagerty though, like you have to have it garaged, you have to have a daily driver for every licensed driver in your household and they don't want you to use it to run errands. I still drive mine as much as I want to which isn't a lot . good luck

[don t. - 72gmc]

Originally Posted by red69ss

with state farm my ins. was about $500 a year per classic.

Currently wife's ins is a little more than 500. It could drop to 180/yr w/a 3000 mile/year max. Currently mileage is unlimited.
On my 70, 3000mi/year = 125.

Yes, we both have daily drivers, but the truck does some hauling as I feel a need. Last weekend it helped moved 80 bales of hay.

Have fun.....don t. .....

[chevydog66]

I went with a local classic car appraiser. He attends car shows and is a classic car enthusiast. Might just ask around town of car shows. I had to get a professional appraisal for my 66 Chevelle since I am with State Farm. Cost was about $125 a few years ago, and recently I decided to get an appraisal on my 72 GMC since I have about $12,000 in the truck, he appraised truck for $14,000, at a cost of $100. Both appraisals included pictures, total description of all aftermarket or new parts, as well as comparable truck prices.

[harold64]

i just changed from haggerty to state farm. haggerty was 406 a year, state farm is 126.50 for 6 months. big differance! i did have to get approved apprasial witch did cost 175.00. just my 2 cents.

[alberto.elliott]

The Hartford-AARP insurance works for me. Both home and auto insurance through the same company.

[Ratone71]

I used State Farm. It was a very easy process. Stated value and some pictures. I am vey happy so far.

[70cst]

I quoted State Farm and they were 3x's that of Haggerty. I think if one already has insurance State Farm the rates are cheaper but I have heard nothing but positives with Haggerty so that along with very good rates Haggerty it is.

[Ratone71]

I was under the impression that Haggerty's has some strict restrictions on mileage and usage. I never got a quote from them because I use my truck as a daily driver. State Farm didn't have any restrictions on the usage of the truck.

[70cst]

Originally Posted by Ratone71

I was under the impression that Haggerty's has some strict restrictions on mileage and usage. I never got a quote from them because I use my truck as a daily driver. State Farm didn't have any restrictions on the usage of the truck.

You are correct and you make a very good point. I think Haggerty has unlimited milage but they don't want one to use their truck as a DD or for work. You did well with State Farm.

[DorianB]

I'm a little confused. If Haggerty doesn't have mileage limitations, how can they "not want" you to use it every day and for errands? It sounds like someone is trying to create a loophole.

[LEEVON]

Originally Posted by DorianB

I'm a little confused. If Haggerty doesn't have mileage limitations, how can they "not want" you to use it every day and for errands? It sounds like someone is trying to create a loophole.

Hagerty, American Collectors, Grundy, etc... have "agreed value" policies. These are very different than the "stated value" policies that you can get from State Farm or other non-collector car agencies. In the event of a loss the specialy, agreed value providers pay out 100% of the agreed value, no depreciation or haggling. The one thing they have in common is that they insure collector cars, and their premiums are low because they place restrictions on use. Most have a policy that you cannot drive to work, errands, or daily and you have to have another insured driver in your name. Also you must have a garage I believe. That is how they can insure your car for $300/yr at $20,000 agreed value and actually deliver on the claims. "Collectors" take care of their cars/trucks.

You will be surprised if you have a claim on a stated value policy and think you will be getting a check for that value. There are a couple of old threads on here about this fact, you should read up if you drive your truck alot and are looking to insure it through a non-specialty provider.

NOW, with that said the nature of pleasure driving is kind of a grey area. They don't want you driving to work or to run errands...however that is pleasure driving for most and only happens a few times a year for myself. The agents will tell ocassional trips like that are ok if you ask, but that doesn't really mean anything. I guess if my truck was to get wrecked on the way to the office on that one sunny day I chose to drive it well, then I would let everybody know I was out for a pleasure cruise. If it gets stolen from the parking lot at work, could be a different story? I don't know for sure but I'm careful to document how I store the truck and how many miles it gets vs. my daily driver (American Collectors Insures my truck by the way). I've had Hagerty it was more expensive because of all the extras like car show and hotel reimbursement that I don't use.

[70cst]

Originally Posted by DorianB

I'm a little confused. If Haggerty doesn't have mileage limitations, how can they "not want" you to use it every day and for errands? It sounds like someone is trying to create a loophole.

If you use it every day and as a work truck one has a much greater chance of getting into a fender bender...Unlimited Milgage-if I am correct-they want the truck owners to drive and enjoy thier truck but not as a DD or work truck. This is why one needs to have other titled vehicles to show that they have other forms of transportations. Maybe others can offer a better clarification.