I am just about to get into it with Hagerty's insurance team on the value of my car. The last time I did this, I told them flat out their knowledge lags well behind the members of this forum.
Insurance value upgraded with Hagerty
- Thread starter m5bb
- Start date
2002 owner alert! Probably not needed, but a tii just went for $84,502 on BAT. About two months ago I upped the Agreed Value on Lilli, my pristine '76 2002 to $35,000. Think I will give State Farm a call tomorrow and talk about an increase.
Look into Heacock, I renewed for 1/2 the price of Hagerty for same coverages
I just increased m aged value to what it would cost to find a good candidate and restore to the condition of The Great White.
$180K
$180K
I've been wanting a dog again.
Thinking about a Shepard, mostly black to ride around in the Black on Black M5 but this may change my mind and get a Doberman this color and name him Rust to ride around in the coupe with the Rust Not plate.
Pinstripe inc.
Well-Known Member
Yikes. Time for me to reconsider the value of my original owner and bare metal resto ration. I only have it insured for $50k, (Canadian). Thoughts? Thanks
They called me last Thursday to ask questions about my new value. They did approve but wanted more details and photos.
A Hagerty underwriter assistant called me last Thursday to ask questions about my new approved value of $200000.00.
First statement from them was they couldn't find a 72 that sold for $200k. Mine is a 72.
It became very obvious in a few minutes that they had to have the exact year and didn't understand the E9 covered 7 years.
I told her about the 73 that sold for $240 and a number of others around $200k.
They do NOT have an underwriter that works on BMW. They have 40 underwriters and your value is examined by whoever gets it that day.
This, you have to realize is all about the numbers that underwriters use.
Apples to apples.
This also has some affect on why a 2800 is valued differently than a 3.0.
Currently providing more photos to Hagerty and some info from Bring A Trailer.
I'll update with anything more I learn from them.
Gary
First statement from them was they couldn't find a 72 that sold for $200k. Mine is a 72.
It became very obvious in a few minutes that they had to have the exact year and didn't understand the E9 covered 7 years.
I told her about the 73 that sold for $240 and a number of others around $200k.
They do NOT have an underwriter that works on BMW. They have 40 underwriters and your value is examined by whoever gets it that day.
This, you have to realize is all about the numbers that underwriters use.
Apples to apples.
This also has some affect on why a 2800 is valued differently than a 3.0.
Currently providing more photos to Hagerty and some info from Bring A Trailer.
I'll update with anything more I learn from them.
Gary
Hi Gary - would you mind sharing copies of the information you provided from BAT? If several of us provide similar information, they may get the hint.
I sent photos and this document which is pages from BAT and Wikipedia.
My car was just appraised last week at $79.5k. New annual rate from American Collectors is $552.