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L81 average value

Joined
Apr 29, 2001
Messages
2,141
Location
Rio Rancho, NM
Corvette
1981 HD Suspension; ZN1 Option
Hey people,

I called Farmer's Insurance today, and for NM I was quoted $153.00 /6-months for liability. $183.00 for un-insured-coverage collision portion added(apparently the un-insured-coverage collision portion is no longer transferable in NM from other vehicles -only the injuries coverage is), and full coverage $266.00 /6-month on top of that. I do have my house and other vehicles with them as well.

So, I wanted to see what kind of quotes I could get with Grundy or Haggerty. They asked what the value of my Vette is, and since I know that it is worth more to me that what they think is worth, then what amount should I use? I suspect that whatever I enter it will affect the totaled-collision coverage. If for example I enter $14k, and they think it was worth $12k, then since I paid for $14k coverage would I get coverage on that amount, or will they use what they think ($12k) is worth?:confused

GerryLP:cool
 

Yoda

Well-known member
Administrator
Joined
Oct 12, 2000
Messages
4,884
Location
Amarillo, TX
Corvette
1981 UL5
:w Gerry,

I can give you the information about what I have on Rare... AND I'm sure there will be PLENTY of people that will chime in with an opinion too ;)

Hagerty Insurance Agency, Inc.
Here are the facts off my Declaration Page (Annual Premium 09/16/2006 ~ 09/16/2007):
Liability @ 55K per accident = $31
Uninsured Motorist BI/PD $55K per accident = $12
Underinsured Motorist BI/PD: INC
Medical $1,000 per person = $5
Personal Injury Protection $2,500 per person = $7

1981 Cheverolet Corvette 2D AGREED VALUE $22K
Other than Collision $0 Deductable = $73
Collision $0 Deductable = $73

Total Annual Policy Premium: $202
Membership Fee: $24 TOTAL Check to Hagerty $226


NOW..... Do I believe Rare is worth $22K :eek Well I had her insured for an Agreed Value of $14K (2005) I asked about our move to Texas, and asked what the Agent what the Collector Value of Rare would be, I sent them photo's exterior, interior and engine compartment, also added a couple of her undercarrige, and they said $22K would be the maximum they would insure her for.... DO I LOOK LIKE A FOOL ;) Of course I increased my Agreed Value it also increased my premium by $34 a year ;LOL

I call Hagerty if I am going on a trip and let them know, and I have NEVER been told to keep the mileage down..

These numbers are directly off my Hagerty Collector Car Declaration Page..

Bud

Oh yea,,, what do I think Rare is worth... I should say pricelss, BUT if someone offered me $18K to $22K I would probably be looking for a '99 or '00 FRC...

NOTE: I should add that I've been with Hagerty since 1998 and the first couple of years it seems to me the premium was around $300 a year or so... IT has gone down since I first Insured Rare with them....
 
Joined
Apr 29, 2001
Messages
2,141
Location
Rio Rancho, NM
Corvette
1981 HD Suspension; ZN1 Option
Bud,

Thanks for the reference. I called them, and it is going to cost me $260 / year for full coverage. $40 dollars will take care of the membership and the 50 mile free towing.

Thanks a lot!:beer Gail is ready for driving!

GerryLP:cool
 

Yoda

Well-known member
Administrator
Joined
Oct 12, 2000
Messages
4,884
Location
Amarillo, TX
Corvette
1981 UL5
Alrighty now :upthumbs

Bud
 

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