Insurance check.

According to their web site a #2 car should be a #1 Concours car a few years old with very little smoke at start...lol They are so far off the values it's almost laughable. #3 cars are selling for nearly $75k and we have seen #2 cars selling near $160k and MKII's well past $200k for #2 cars. Monterey this coming month will surely break new records. I have turned down $175k several times for my MKI...but I suppose $80k is better than nothing which is why I rarely drive mine.....

Moondoggie
 
I think "real" tiger values and I'm talking worth not tac are much lower than the speculation. Yes there are some serious spikes at the auctions, but look at some of the very sorted and good cars that have sat for ages in the mid 70+'s, and these are cars much better than the spike auction results.

There is no doubt the cars are strengthening in value, but don't believe all the hype and speculation. As for not driving them because of increase in value.... Well that seems to defeat the point of owning them.

Also for every "offer" people receive I'd love to see them write the cheque or better show the cash. I've had many people over the years ask the question and say "what if I offer...." But my cars are not for sale... and I am not convinced by the substance of most passing offers
 
Really

Add fire sprinklers to your garage, and pay as much attention to the exclusions as the premium and coverages.

Oh and a lot of times its better to not put in the little claims as I've seen as little as 2 or 3 claims in 5 years result in a non renewal.

In California 1 little PD back up and one speeding ticket and bye bye good driver discount per the old prop 103.
You may remember it as the failed attempt to stop rating by zip codes.
 
Insurance check

The latest issue of Hemmings " Sport and Exotic cars" article the "UPS and DOWNS of the CLASIC CAR MARKET" shows Sunbeam Tiger Mk 1 values up 190% from 2005, $22,500, to 2015, at $65,300. Looks good on paper but in the real would of Insurance claim adjusting that may be just smoke and mirrors. When my wife's station wagon got T-Boned, and totaled, State Farm would only pay NADA book value, which was 80% of the REAL on the street replacement market cost. So don't rely on the other guys insurance to cover damages. Suggest you go to "NADA Classic" car values web site and insure your car for stated value so You don't have to deal with an unscuplous low ball claim adjuster in case of an accident.
 
Duke Mk1a said:
Just increased my agreed value insurance to $80K. Will be an additional $90 a for a $550 a year premium. I recommend you guys check your policies.

A #2 car is now valued at $88K by Hagerty value guide.

https://www.hagerty.com/valuationtools/HVT/VehicleSearch
Click to expand...

I presently have two Hagerty repair Tigers in the shop. Hagerty is great to work with, but I learned most insured does not understand that the insurance company will only pay out 65% of the stated value to repair the car. Duke you should be in good shape with $65,000 to repair your car, the car owners with $50,000 stated value, good luck repairing the car, especially if you take out the front end. Personaly, my Tiger is insured for $150,000, and I drive it as much as I can.
 
I've had one claim with Hagerty.
I put the claim in 1 year after the incident at the suggestion of my paint guy. I never thought they would cover it but he said it wouldn't hurt to try. They sent someone to look at the car the next day. I received a check 2 weeks later. I had to fax them a copy of the title because the check was over a certain amount. That amount was way more than I thought I would get.

I'm good with Hagerty. No complaints at all.

John
 
tigerracer said:
I presently have two Hagerty repair Tigers in the shop. Hagerty is great to work with, but I learned most insured does not understand that the insurance company will only pay out 65% of the stated value to repair the car. Duke you should be in good shape with $65,000 to repair your car, the car owners with $50,000 stated value, good luck repairing the car, especially if you take out the front end. Personaly, my Tiger is insured for $150,000, and I drive it as much as I can.
Click to expand...

Dale the key words are "stated" vs. "agreed." My insurance agent will not write policies with "stated value" on any classic cars. Agreed value is the only way to go.

As far as driving my Tiger, I'm with you and Michael. I know too many guys who'd rather just look at their "collector" cars instead of drive 'em. :)
 
Duke Mk1a said:
Just increased my agreed value insurance to $80K. Will be an additional $90 a for a $550 a year premium. I recommend you guys check your policies.

A #2 car is now valued at $88K by Hagerty value guide.

https://www.hagerty.com/valuationtools/HVT/VehicleSearch
Click to expand...

Better add another 10% Duke as a #2 car now shows $97100 ...

A #1 condition MK1A took the biggest jump of all Tigers ( 24% ) and is now $139K :eek:

MKII's flat lined from April #'s though

Only one company's opinion of course but they're still 'movin' on up ' :------
 
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