1971 Plymouth Sport Fury GT, what's it worth?

[Wollfen]

I'm looking to get a quote from Haggerty's Insurance for my GT to put it on the road, only thing is, they want me to tell them what I want it covered for, so what do I say? What is a reasonable amount to insure this car for?

 

[polara71]

25000

 

[tallhair]

I don't think a lot of $K will be beyond you budget. What do you think it would take to find another and make it this nice (and in this nice of original shape)? i.e. what is replacement cost?

Say 220,-221 whatever it takes $20-25K if that's what you think replacement cost is or more .. whatever it takes.

It's still only going to be a few hundred a year from what I understand.

 

[69CoronetRT]

What do you think it would take to find another and make it this nice (and in this nice of original shape)? i.e. what is replacement cost?
.

I agree. When I declared the insured value of my car, I figured XXXX for the purchase price, YYYY for what I had in it, ZZZZ for the time to find another comparable car and a reasonable increase in market valuation or appreciation.

Since, in essence, YOU are setting the value and premiums, what would it be worth TO YOU to replace the car?

 

[Big_John]

25000

Yep!

 

[1978 NYB]

I agree...what ever the value you think it'll take to replace the car.

 

[polara71]

Does Hagerty require a car appraisal for agreed values over $10K?

They quoted me a few weeks ago, didnt ask for an appraisal .

Im dropping Condon & Skelly. Their Underwriting has Ironshore indemnity has been bought out by the Chinese.

 

[Rwc]

I would decide what I would sell it for, how much it would cost to ship another one a couple thousand miles and how much putting up with a lawyer and or I surname company would be worth. You know if some doofus runs I to it their insurance company is going to view it as a 1971 fury, while you are viewing it as a much harder to replace gt.

 

[Fury Pursuit]

One word....Chubb.

 

[Wollfen]

Gt's do show up now and again, but I wouldn't take on another project car to replace mine if I lost it that's for sure. I am not interested in that. So that being said, there hasn't been many GT's for sale in similar condition other than that black one last year. It was on the market for $29 000 but didn't last long at all. I have been mulling the $20K to $25K range myself but did want to hear a few opinions.

 

[Samplingman]

That washer bottle alone is is worth $600....

$25k does put it at the top of the current market, but how do you put a value on something that really can't be replaced? Sure you could find something different, there is a pristine Hurst 300 in pa for $26k for example, but you really couldn't replace 1 for 1. I look at it this way, what number would make you satisfied enough that you would be happy even if you couldn't find a suitable replacement?

 

[twostick]

I'd get an appraisal from someone knowledgeable. The number will likely astound you.

The point of insurance is to be put back whole after a loss. This means if the car is totalled, another one just like it magically appears in the driveway without you having to take on a project to make it happen.

You can't go by what you perceive to be resale value because like you said they are few and far between for sale in ready to enjoy condition or any condition for that matter. Assuming a total loss you now have to have enough $$$ to buy one that needs work and have a reputable shop put it in the shape yours was before the loss or if it's repairable have them shop the 4 corners of the earth for correct replacement parts to put it back in shape. This all costs money and lots of it.

You know what you have in your car but I doubt you took labor into account. Estimate your time to complete your project and multiply by $80-$100 an hour. Labor alone can easily exceed the retail value of all but a few concour restored C-bodies.

This is just a long winded way of saying if you are looking to insure your GT to be replaced by another GT should the worst happen, $25K won't even be close to enough.

Now if a different less rare C-body is an acceptable alternative, $25-$30K should get the job done for most any other "desirable" C but when shopping for a needs nothing no excuses car it won't leave you much if any change.

Kevin

 

[CanCritter]

got hagarty on all my vehicles short of work truck..all over 10k ...no appraisal but will get reappraisals through accredited folks...would go with 25k

 

[Fury Pursuit]

I'd get an appraisal from someone knowledgeable. The number will likely astound you.

The point of insurance is to be put back whole after a loss. This means if the car is totalled, another one just like it magically appears in the driveway without you having to take on a project to make it happen.

You can't go by what you perceive to be resale value because like you said they are few and far between for sale in ready to enjoy condition or any condition for that matter. Assuming a total loss you now have to have enough $$$ to buy one that needs work and have a reputable shop put it in the shape yours was before the loss or if it's repairable have them shop the 4 corners of the earth for correct replacement parts to put it back in shape. This all costs money and lots of it.

You know what you have in your car but I doubt you took labor into account. Estimate your time to complete your project and multiply by $80-$100 an hour. Labor alone can easily exceed the retail value of all but a few concour restored C-bodies.

This is just a long winded way of saying if you are looking to insure your GT to be replaced by another GT should the worst happen, $25K won't even be close to enough.

Now if a different less rare C-body is an acceptable alternative, $25-$30K should get the job done for most any other "desirable" C but when shopping for a needs nothing no excuses car it won't leave you much if any change.

Kevin

I agree, and for what it's worth I WOULD NEVER INSURE MY VEHICLES WITH "Hagerty". They are just an agency, and they DO NOT UNDER WRITE the policy. Their underwriters have a horrible "bad faith " claims rating.

CHUBB under wrights their own policies and is the best in the industry. You get exactly what you pay for here. I would advise to pay a little more, insure the GT for $35K and sleep well. Just my .02 cents. Ask me how I know.

In addition with CHUBB you can drive to the store, to a movie, your friends house, etc. With Hagerty,...wait until you have a claim. You get what you pay for in this "game". Also, with CHUBB you deal with TWO people, Nicole, and Jeff, not with unknown people in an office in fumbuck. Food for thought. How do you like to sleep at night?

 

[bluefury361]

[QUOTE="Fury Pursuit, Their underwriters have a horrible "bad faith " claims rating.QUOTE]

This is incorrect information.
I have delt with several stated value collector auto insurance companys and Hagerty is by far the best. I have three vehicles insured with them now, Stated value, no deductible, Almost 50K in coverage for under $400.00 a year. And I drive my cars.

I've had made two claims, was treated well and setteled for claim value within a week based on photos.

Never heard of "Chubb"

 

[Fury Pursuit]

[QUOTE="Fury Pursuit, Their underwriters have a horrible "bad faith " claims rating.QUOTE]

This is incorrect information.
I have delt with several stated value collector auto insurance companys and Hagerty is by far the best. I have three vehicles insured with them now, Stated value, no deductible, Almost 50K in coverage for under $400.00 a year. And I drive my cars.

I've had made two claims, was treated well and setteled for claim value within a week based on photos.

Never heard of "Chubb"

I respect your opinion. But to say I'm incorrect and to acknowledge that you have never heard of Chubb says volumes about what you don't know. And that's fine. I'm glad you are OK with your "agencey". I wasn't.

I've dealt with the 4 major insurance players in this game and Chubb is my choice, for good reason. Happy trails.


To the point, irrespective of the "agency ", if the GT in question were mine, I'd insure it for $35K @ approximately $350 per annum.

 

[bluefury361]

Hagertys value guide puts the value a bit higher, for insurance reasons.

1971 PLYMOUTH FURY GT Value

 

[bluefury361]

I googled "chubb" insurance and they are right here in my area, about 15 miles away.

I never see them advertise, I'd be leary.

 

[live4theking]

I know nothing about Haggerty. The company I work for had all of our vehicles insure through a very reputable insurance company, that I personally use with great satisfaction. Then we had an out of state accident and it took months before they paid for the unit we were towing. Chubb to the best of my knowledge deals more with businesses and has a good reputation as well. We've not had to make a claim. I also hadn't ever heard of them before.

 

[tallhair]

I WOULD NEVER INSURE MY VEHICLES WITH "Hagerty". They are just an agency, and they DO NOT UNDER WRITE the policy. Their underwriters have a horrible "bad faith " claims rating.

CHUBB under wrights their own policies and is the best in the industry. You get exactly what you pay for here. I would advise to pay a little more, insure the GT for $35K and sleep well. Just my .02 cents. Ask me how I know.

In addition with CHUBB you can drive to the store, to a movie, your friends house, etc. With Hagerty,...wait until you have a claim. You get what you pay for in this "game".

Do you have some history with Hagerty you could share? I've never heard anything bad about them before