67 DeVille convertible appraisal for insurance company

[jims427400]

I have a 67 DVC 30K miles and all original. It's been in my wifes family since new. My insurance company is requesting an appraisal and I'd like to ask you all what you think my wifes car is worth. Any questions let me know. It's loaded except for cruise control.

Thank you,
Jim

[Eric DeVirgilis CLC# 8621]

Nice car.

Doesn't the insurance company require a professional appraisal?

[jims427400]

My current State farm agent has taken my word for current value on my corvettes and is doing the same on our caddy. Don't want to rely on nada or any other on line source. Wanted to poll the folks on this forum.

[Mike Josephic CLC #3877]

My advice is this.  Do not insure your car with State Farm.
What they will give you is a "stated value" policy and in
the event of a total loss you will get peanuts.  "Stated
value" is the policy amount OR the actual cash value,
whichever is less.   How they determine that is where
you get the shaft.

Insure it with a company that specializes in antique
vehicles such as Hagerty, for example.  They only have "guaranteed" value policies.  In other words,
if you have an appraisal and insure your car for $25k
(for example) and it is a total loss they cut you a
check for that amount.

By the way, I have State Farm but ONLY for my
daily drivers.

https://www.thebalance.com/what-is-stated-value-insurance-527189

Mike

[chrisntam]

I recently moved from SF for my Caddy, went to Hagerty.  I told them what I wanted it insured for, they look up the value, if it is in their "range" they say "OK".  I sent them two pics, IIRC.  Daily drivers are still w/ SF.  It has to be garaged and cannot be driven to work, not even in a pinch.

Hagerty will give club members a 5% discount.

Cost is about 1/2 of what SF premium was and I feel a lot better because of the valuation thingy....  I think its around $400/year for full coverage, where as SF had uninsured motorist and liability.

I'd say its worth $15k to $25k depending on condition.  Insure it for $30k and you should be able to replace it for that.  I have my '70 insured for $35k just to be sure. 

[35-709]

Agree, go with Hagerty.

[Eric DeVirgilis CLC# 8621]

If they'll agree to it, I'd insure it for $35K - $40K.

I would also recommend taking a good set of high res photos thoroughly detailing the condition of the car and keeping them with the policy in a safe place. Especially important to get good closeups of chrome, door jambs and other areas that normally experience high wear and/or deterioration as these will be the most critical as the basis for establishing higher-than-average market value for a '67 DVC - if it's ever needed.

[GBrown #8092]

I agree on going with a collector car company.

We had a local member who had State Farm, and had his low mile 84  Eldo broad sided. State Farm's appraisers didn't really understand the nuances of collector cars and drove the body shop to distraction. SF eventually, decided to pay it off the shop and backed out of fixing the car.  (I should note conversely we had another who was insured with them and was hit by another State Farm insured who was at fault, and SF paid off without question.)

There is a distinct difference between agreed value and stated value in insurance.  Guessing wrong, can and will cost you.

Can I suggest it might be worth it to have your Region contact a local collector car insurance agent and have him or her make a presentation at a Region meeting, it would be a service to all your members.

Glenn

[Jon Hunter]

Hagerty or JC Taylor. Both been in the business long time. Avoid state farm even for daily drivers

[jims427400]

Thanks all, after I get her back on the road I've got several options and will get quotes and follow up with my results.

Jim

[chrisntam]

Hard to beat 15% lower than Hagerty, but Hagerty also offers 200 mile towing, but it costs a little extra...

[Bob Hoffmann CLC#96]

James,
I've been meaning to mention this. I suggest you call your car by its correct name. It's a "DEVILLE" convertible. There is no such thing as a Coupe Deville convertible.
Bob

[cadillacmike68]

That would be DeVille Convertible (DVC). The OP wrote CDV which normally means Coupe deVille. He didn't mention convertible but the pics are clearly a DVC.

With Hagerty you CANNOT ever drive it to work???

I'll have to check out infinity as per Steve.

[chrisntam]

snip..

With Hagerty you CANNOT ever drive it to work???

I'll have to check out infinity as per Steve.

That's what the dood said, I wouldn't drive it to work anyway, our parking lot is door ding and crushed bumper central.  Buncha friken' idiots...  Plus, it would bake in the sun.  Or it'd get stolen.   I'd just call in sick. 

I'm not one to test it.  I'll look in the policy and see what it says about it.

[Bob Hoffmann CLC#96]

Hey Chris,
There's that word again. Can you please explain to use dudes what a dood is???
LOL, Bob

[cadillacmike68]

That's what the dood said, I wouldn't drive it to work anyway, our parking lot is door ding and crushed bumper central.  Buncha friken' idiots...  Plus, it would bake in the sun.  Or it'd get stolen.   I'd just call in sick. 

I'm not one to test it.  I'll look in the policy and see what it says about it.

Dood -where's my car?

Bob beat me to it.

One of my client sites is a condo where I can park my car right in front of the clubhouse office where I can see it at all times.

Of course my STS got hammered last year over there (or possibly at a homeless despot parking lot ??). And then there's when I parked my Fleetwood in front of another client's house on a quiet street and the resident across the street backed his dodge ramrod into it.....

And then there's the time someone stole the cat right from under my next-door neighboor's new honda pilot. Apparently, those are high enough up that you can crawl under them and do that without raising the vehicle.

So nothing is ever safe...

[chrisntam]

Hey Chris,
There's that word again. Can you please explain to use dudes what a dood is???
LOL, Bob

Dood is just my slang for dude.  It looks better...