Personally, I think appraisal's are a waste of money. I wouldn't trust any one person to put a value on my car. The market is all over the place these days.

Don, you know the value of your car, more than any appraiser, who would have to put a value on a hundred different kinds of cars.

I have my cars insured for an agreed value, from an ins co, that doesn't require an appraisal.

I'm happy with the numbers we agreed on. All I had to do was send them pictures, and a description of the cars, and they sent me a bill.

 

I agree with Bill. Hagerty is who I went with. Pics and description. Agreed value. Happy.
Randy

 

Don,
I agree with Bill.
an appraisal is someones opinion go with agreed value.

my 70's agreed value is $70,000 at a cost of $398 a year.

 

Gotta agree with Bill and Donnie, Don. You know the value, you have done the work and paid the bills, and more importantly, you are probably more aware of what's going on with cars like yours than any appraiser. On the other hand, if you are looking for someone else's "opinion", perhaps it wouldn't hurt. Just hate to see you lay down the $$ and come up "wrong". Have you considered changing insurance co's.? Just one guys's opinion here, too. Good luck!

 

Just to clarify guys, we are dealing with "agreed value" for the policy in question. I'm not looking for somebody to give a "market value" estimate (EG - for possible sale). I also am not the type to have the appraiser "fudge" the value as he could possibly become liable at some future time. The appraiser in question has been doing my cars for a long time and he is straight forward and realistic.

Secondly, here in Canada we do not have the "multiple choices" of Classic Car Insurers like south of the border. Our options are very limited and I do not trust this coverage to the company handling our daily drivers. I've been with this company for about 18 years. I think anything over $25,000 agreed value requires an appraisal for their purposes.

 

Don, if you want to take time to compare, call Grundy I think they include Canada in their territory. They insure my five classics on agreed value and I never sent them any pictures.

 

$58K to $62K US



No charge

 

Don, If you woulda brought it to the MD Show, we had Jack Anderson doing them this past show. Just sayin.

 

What would you sell it for? There ya go...

 

I didn't know Grundy was now in Canada, thanks for the info Les.

I wasn't looking for actual numbers Mike, but it appears you and I are on the same wavelength as usual.

I think values went up for a couple of years after 2006 then started to decline.

 

I know Don. Friends can always be smart a$$ to each other

 

Knowing your car as I do Don, I was going to say somewhere in the same range Mike did, I was going to say $60-$65K.

 

I'd say the same.

 

Just a share story that may or not have any bearing on you situation.

Guy comes in my shop a few years ago and wants his Poncho TH350 benched. I give him a prive of $400 and two days later I call him to get it out of my office. Two months later I get a 403 Olds in a hundred parts. Build it for him and looks great. A week goes by and he drops off a van load of parts from SS brake lines to subframe connectors. I build the ugly car but when done he has a mechanically new 79 10th Anniversary TA. I loan him my transporter tag to get the black primered thing home.

He calls the next day and wants to discuss insurance option although as ugly as it is, it is road worthy. I gave him Haggertys' number. He sends pics and they call me. They want to know why this guy wants an agreed value policy of $45k on the turd. i told them there is no way he has over $15k in the car at this point.

Moral of the story is that agreed value is just that, you and the insurance underwriter must agree. They allowed my guy to get a loss policy for $20k as $45k was out of the question. Agreed Value is what you would need to pay to replace the car as it sits the day the policy is written . They do tend to give a $5k-$10k wiggle room if you agree to the extra money, but you just can't insure a 79 TA for $45k no matter the condition.

 

The appraiser was here today and we were both satisfied with a common ground value that I felt was reasonable and he was comfortable in signing on the dotted line.

Thanks for the input gang.

 

I think some confuse what this appraised value is for. Like Don says in Canada we have to have the appraisal for insurance. This appraisal is for the replacement of the car. Whether you have to build one or buy another one exactly like it. It is not for what the car is worth to sell. At least thats my take on it.
I just had mine appraised and it is way higher than what it could sell for.
I could only hope that I could get anywhere near the $$ they appraised it for.

 

The value from 2006 until now is down without a doubt on everything. I had Jerry MacNeish over to evaluate my already documented survivor 69 Z back in 2007. I did not do it for insurance purposes but really for my records. Having someone like that write up an appraisal / certificate of authenticity is well worth the $ in my opinion. I do not plan on selling my Z but if I ever did having this additional paper work will sure not hurt me.
Hope this helps with your decision.

 

Here is the way I see it, Instead of thinking of just the appraised valve,also think of replacement value.What would it cost from today's market to replace a car of EQUAL standards without a limit to get it as complete as before. If a car is stolen,destroyed,damaged beyond it's value, it has to be replaced in EQUAL value in $$$$ (less your deductable).

So with that said...As long as I am willing to pay the premium, than insure it for I know it would take to replace it.:yes: