Alberta Land Rover Enthusiasts Club Forum
General => Non Technical Discussion => Topic started by: ochubb on March 22, 2017, 11:10 AM
I've been reviewing all my insurance stuff and realized that my insurance company, State Farms, will only insure my D2 for Black Book value.
With all the mods and rebuilt engine I'm thinking / hoping the old girl is worth more that the $7,200 that the BB says.
Does anyone out there know of an insurer that will be flexible on the coverage I buy without have to go to Lloyd's of London?
I have friends that use this place: https://www.competition.ca/insurance/collector-vehicle-insurance-plan/
Competition uses hagerty and you could go directly to them. Local touch is sometimes preferred.
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Typically the route one needs to go to get anything above book is an appraisal.
Thanks guys I'll check it out.
My brother uses Hagarty, and says they're quite reasonable. I've used TD for my RHD 90.
Quote from: Trevor on March 22, 2017, 02:46 PM
Typically the route one needs to go to get anything above book is an appraisal.
Haggerty does not normally need one. They just set an agreed value. Maybe something newer like a Disco 2 would not fit the mold, but you just need to ask.
https://www.hagerty.ca/articles-videos/Ask-Hagerty/Who-does-Hagerty-Insurance-use-for-appraisals-on-automobile-values
Quote from: Red90 on March 22, 2017, 05:08 PM
Quote from: Trevor on March 22, 2017, 02:46 PM
Typically the route one needs to go to get anything above book is an appraisal.
Haggerty does not normally need one. They just set an agreed value. Maybe something newer like a Disco 2 would not fit the mold, but you just need to ask.
https://www.hagerty.ca/articles-videos/Ask-Hagerty/Who-does-Hagerty-Insurance-use-for-appraisals-on-automobile-values
The appraisal comes in handy if you believe there's a gap between their valuation, and yours. Most won't require one at all, but that's always to their benefit as their valuations will favour them, not the customer. Appraisals aren't an inconvenience for the customer, they're a tool to insure your interests are established and are upheld.
If you find a good appraiser that you can work with, the complete value of the vehicle can be established to your satisfaction before shopping for an insurer. And once its on the appraisal report, and the insurance company accepts that report, they're bound to that valuation.
They can be quite handy for that reason.
My understanding, is with Haggerty, you can pretty much choose whatever value you want and they insure it to that as the replacement value without depreciation. It is simple and written into the policy.
Quote from: Red90 on March 23, 2017, 09:49 AM
My understanding, is with Haggerty, you can pretty much choose whatever value you want and they insure it to that as the replacement value without depreciation. It is simple and written into the policy.
Ah, ok. That certainly simplifies the process. They just adjust their premiums accordingly based on your "value" (which any other insurer would do as well of course with an appraised value), but saves you the cost/hassle of going through the appraisal process.
Very important. When our Kalahari disco was smashed a couple years ago , we didn't have replacement insurance, having owned it less than 2 months. Huge battle, half what we should have got.
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I'm insured through them on both my vehicles, which are more than 25y.o. They will want pictures, but will likely accept your valuation. I pay about $225/yr for full coverage.
But at my own peril: They will insure you based upon the understanding you will only drive it occasionally, stored inside. NO four-wheeling. I said I would be driving on gravel roads and pull-over in the ditch to go fishing and she said absolutely not. Must drive less than 5000 miles/year. My SIIa is my daily-driver in the winter and my fishing truck, my '67 Volvo is my daily-driver in the summer....
Your call. If you get into a crash and it is apparent the vehicle is not being used as above, they will honour your claim, then cancel your policy. Someone scraped my Volvo in a parking lot mid-afternoon on a weekday, and they covered it no issue, so just don't roll it on a trail.
If you have a mileage limit on your policies they may also allow for some deviation on that limit. With some classic car insurers you can get a special extension in miles for a small fee. Say you want to drive to Halifax for a car show.....they will allow you to the extra mileage for something like $50. So it's worth investigating.
You can choose whatever yearly mileage you want. as well as value. It just affects the premium. Nobody insures for off road use that I know off.
Quote from: Red90 on March 24, 2017, 09:07 PM
You can choose whatever yearly mileage you want. as well as value. It just affects the premium. Nobody insures for off road use that I know off.
Just as an FYI, you can get full off road coverage. I double checked this with my insurer as it was a requirement for both my Defender and Disco. They confirmed my policy has no exclusions for off road use. Plow it into a another vehicle on road, on a lease road, or into a ledge off road, and it's covered.
Edit: One thing I should have added is that, even with a clean driving record, my insurance isn't cheap. Full on and off road coverage, combined with proper vehicle valuations, come at a cost. Insurance companies don't give anything away for free. If your insurance is cheap, your coverage is as well.
Getting an appraisal will keep the insurance claims honest. If you had it for the Kalahari you would have had a more then a leg to stand on ;)
If you get the antique vehicle insurance......some of them will ask for a appraisal. The difference between my black book value and the appraised value was over $15,000. Worth every penny of it!
I use Intact for my classic policy. $250 per year for a BSA 650cc motorcycle and a '69 Lotus. Can't drive to work or go far. If either of those vehicles were something I would drive/ride often I would get regular insurance.
That was the plan.....
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