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Hagerty value increase


Y-JobFan
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I got a letter today from Hagerty telling me Reatta values were trending up and my convertible was $2500 under where it should be and the coupe $1000 under current market.  I had just adjusted them both last year at renewal.  I had the convertible insured for #2 condition (excellent) $13,200, they suggested the new value be raised to $15,700. 

 

Suggested value for concourse condition is $25K 

 

I have received these before for some of my other collector cars from time to time, but this is the first for the Reattas 

 

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Interesting. Think the market hit bottom in md-late 2020. Of course collector cars (old) have three values: appraised, insured, and market (actuall sales). Of course since I drive my cars I'd put them at 3+ and the spares at 4+.

Edited by padgett (see edit history)
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8 hours ago, padgett said:

Interesting. Think the market hit bottom in md-late 2020. Of course collector cars (old) have three values: appraised, insured, and market (actual sales). Of course since I drive my cars I'd put them at 3+ and the spares at 4+.

I think the bottom then may be true for average cars or driver cars but we saw some huge numbers out of pristine low mileage convertibles over the last year or so.  Haerty does get their values from actual sales, probably why the huge difference from a #2 to a #3. 

 

 

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Yes has been increasing lately but bought a pair of 89 Allantes, both rust free with hardtops, both run, drive, & have cold AC, one show worthy and other has some paint issues. under $8k in '20. For both not each. Of course I like oddball 2 seaters that the roof falls off. Looked at several XLRs but wanted some luggage space with the roof down.

 

 

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I informed my '91 Reatta Coupe insurer, JC Taylor, that I wanted an insurance value of $15K back in 2013 when I bought it.  They OK'd it with no problem and I've kept the insured value at this level ever since...all for what I consider a very decent price of $187 per year.  

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Has anyone tried American Modern Insurance Group for collector car insurance? I have a friend with three cars insured by them  and he says they are good, although they do have a deductible before they pay. Hagerty that I have on my Reatta has no deductable.

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I have found all along Reatta prices to be stronger than Allante prices.  Of course the amount of Allantes available play a big role in that.  Ask people that have had major claims about various companies, their opinions are the only ones that hold any salt. 

 

 

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There is more commonality between Reattas and Allantes than anyone would expect. The major difference is the Allante center stack with the LCDs is totally undocumented and GM refuses to release any informattion (and that the center stack was designed in Japan apparently by high school students does not help. Also every wire (many) is the same size, white, and undocumented.

whitewires.jpg.7d449502876e4c7848ad445b983826c5.jpg

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