Hagerty values on the MM - wow!

[a_d_a_m]

On a whim, I tried to 'book' my car...

Concours: $26,200
Excellent: $19,700
Good: $15,800
Fair: $10,500

https://www.hagerty.com/apps/valuationtools/2003-Mercury-Marauder

Crazy! Bear in mind this is for a stock car; mods/options were not spec'd nor asked for by their valuation tool...

[gpfarrell]

I’ve noticed those too! Generally, I find Hagerty’s valuation tool to be remarkably accurate. I think their figures don’t fit well with the 200,000 mile versions that seem to pop up regularly but might align reasonably well with the cars that have been cherished and treated like collector cars instead of daily beaters.

[justbob]

Good and fair are decently priced no doubt. But considering they sold at sticker here which was $38,500 w/sunroof I’d say the concours price cost the owners with no mileage $12,300. That’s not even considering the cost to insure it, up to date tags, tax, and storage costs.


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[Spectragod]

Good and fair are decently priced no doubt. But considering they sold at sticker here which was $38,500 w/sunroof I’d say the concours price cost the owners with no mileage $12,300. That’s not even considering the cost to insure it, up to date tags, tax, and storage costs.


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True, but if it is THE car that someone wants, book values go out the window.


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[justbob]

True, but if it is THE car that someone wants, book values go out the window.


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Most certainly.


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[1Marauder]

I think Marauder values "bottomed" two years ago and are now slowly climbing.

And about above values and comments on current residual values. I'd bet the current Haggerty residual values on 16 year old Marauder's out paces most all other cars made in 2003 and 2004 in this car (and price) class. That is saying something!

[sailsmen]

Kelly Blue Book Average - $4,400
Private Party Value
$2,807 - $5,992

[MGDriver]

I'm shocked, those are prices that Marauders fetch over here in Europe, I know at least 2 people on this side of the pond who spent even more than the Concours value for their Marauders recently.

[Invective]

On a whim, I tried to 'book' my car...




I've already talked to the nearby Hagerty agent and will be switching my Marauder over at the end of July, when my current SF policy renews. Found an 'abrasion' on my left rear bumper a few days ago - it will buff out fortunately. I'm paranoid wherever I drive Marauder and my Ruby Red metallic Mustang anymore. Hagerty sent me an offer today to take a survey in exchange for a $30 gift card - taking survey shortly.

[Invective]

Kelly Blue Book Average - $4,400
Private Party Value
$2,807 - $5,992


I just renewed the annual property tax - vehicle registration for Marauder on the taxable value of $4,260.

[tbone]

$0 deductibles, high coverage limits, 22k agreed value = $700/yr
Signed up.

[a_d_a_m]

What I don't like about Hagerty is they (at least the agents I've spoken with) are dead set against any regular cruising. They want to see the car used for car shows, parades, etc. only. When I told the reps at the Cleveland Auto Show that I take mine to work (gated and secure compound with no real parking lot hazards) and occasionally the grocery store, they indicated such activities would nullify my policy.

So I stayed with State Farm.

[Spectragod]

What I don't like about Hagerty is they (at least the agents I've spoken with) are dead set against any regular cruising. They want to see the car used for car shows, parades, etc. only. When I told the reps at the Cleveland Auto Show that I take mine to work (gated and secure compound with no real parking lot hazards) and occasionally the grocery store, they indicated such activities would nullify my policy.

So I stayed with State Farm.



Grundy has no problems with those things.


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[a_d_a_m]

Holy smokes, Grundy is only $213/yr for $15000 agreed value.

I may have to switch.

[1Marauder]

Holy smokes, Grundy is only $213/yr for $15000 agreed value.

I may have to switch.

Can you actually drive the car?

Last time I checked into this, the policy owner ALSO had to have a three year or newer DD.

[a_d_a_m]

Can you actually drive the car?

Last time I checked into this, the policy owner ALSO had to have a three year or newer DD. I'm not sure what the stipulations are. I want to talk to a real human rather than do their online application.

A three year or newer DD = no dice for me.

[RubberCtyRauder]

Grundy also won't insure everyone's marauder, they don't necessarily consider it a classic..yes, many here have Grundy, but they also have multi cars insured with them. They will give you a quote on line, but after you send a check and one if their underwriters gets it, it can be declined and check returned. It usually boils down to the underwriter reviewing and if the value is reasonable for vehiche declared and what area of country you are in.

[a_d_a_m]

I could see if maybe that was my only vehicle being insured.

But I would be putting a 25+ year old vehicle on as well - maybe two if a vehicle inspection on Monday goes as planned.

[Invective]

$0 deductibles, high coverage limits, 22k agreed value = $700/yr
Signed up.


My quote was closer to $800 with a $20,000 agreed value. She was ok with my Ranger being my primary and no structure to park the car in unless I resided within 50 miles of the coast. My bikes are finally back into the mix for the first time since November, meaning my 4 wheelers will be driven even less.

[03blackvegas]

I have Grundy, drive however I want, which is pleasure driving and shows. P.S., agreed value $20,000.

[tbone]

My quote was for pleasure driving so I am not limited to shows, weekends, etc. I would not have bought it otherwise. I have to see if they have storage credit.
Geico was charging me $500 a year (less 6 months storage only credit) and would give me $8 in case of a total loss.
So for $200 more per year I have $0 deductibles vs. $250, way higher coverage limits, and would get an additional $21,992 in case of a total loss. And it won't get totaled from a hail storm. A real no brainer.

[MyBlackBeasts]

What I don't like about Hagerty is they (at least the agents I've spoken with) are dead set against any regular cruising. They want to see the car used for car shows, parades, etc. only. When I told the reps at the Cleveland Auto Show that I take mine to work (gated and secure compound with no real parking lot hazards) and occasionally the grocery store, they indicated such activities would nullify my policy.

So I stayed with State Farm.


Not true, Hagerty over the last few years has really loosened up their underwriting rules and as long as you have a regular daily driver vehicle and the MM is a secondary, they will even allow daily driving type use - you just have to enter that in the quoting mechanism.


If your MM is your only vehicle and you drive it year round for daily transport then insure it with a standard carrier like SF but it is not a good idea to insure a collector car with a standard carrier like SF, a claim is taken care of by the regular claims force that have no experience working with antique or collector cars.


Hagerty now even has a place for Late Model Collectors so the old "20yr and older" rule doesn't apply all the time anymore. Insure your 2019 Corvette with them, etc.

[kirk]

I've had Hagerty on my 1963 for many years and I'm quite happy with it (though I've never made a claim), but there are MANY restrictions.

I don't even consider Hagerty for my 2003 because I use it differently (even though it is also a toy) and it doesn't fit within those restrictions.

[Logan86]

I have a $25,000 policy with Hagerty and paid $850 for the year. I am less than 4000 miles per year, have a DD and the Marauder is garaged.

USAA valued it somewhere around $7k or something stupid like that so it was a pretty easy decision.

[tbone]

I've had Hagerty on my 1963 for many years and I'm quite happy with it (though I've never made a claim), but there are MANY restrictions.

I don't even consider Hagerty for my 2003 because I use it differently (even though it is also a toy) and it doesn't fit within those restrictions.

When you click the pleasure driving box there aren't many restrictions. Garaged, no nitrous, no DD. About it. You may want to look at it again.

Quote from Hagerty's site:
"Pleasure (Examples are fun stuff like cruises, a trip to the ice cream shop, or occasional driving to work)"
There are no mileage caps. Sounds agreeable to me even though I drive it rarely anymore.

[ChiTownMaraud3r]

What about modifications with these? Like superchargers and motor builds?

[MyBlackBeasts]

What about modifications with these? Like superchargers and motor builds?


They'll take it, just list what has been don.


They'll take up to 1000hp and up to 2000hp with manual underwriting.

[chief455]

Massachusetts only allows their state agent to insure vehicles.
Can't get an online, out of state insurance company.
They do have in person appraisals and collector car insurance options, with mileage rules.
But, not so cheap.

[sailsmen]

Carefully read any use restrictions on specialty vehicle insurance policies.

Some insurance companies will also sell a Value +20% endorsement.

[offroadkarter]

Not true, Hagerty over the last few years has really loosened up their underwriting rules and as long as you have a regular daily driver vehicle and the MM is a secondary, they will even allow daily driving type use - you just have to enter that in the quoting mechanism.


If your MM is your only vehicle and you drive it year round for daily transport then insure it with a standard carrier like SF but it is not a good idea to insure a collector car with a standard carrier like SF, a claim is taken care of by the regular claims force that have no experience working with antique or collector cars.


Hagerty now even has a place for Late Model Collectors so the old "20yr and older" rule doesn't apply all the time anymore. Insure your 2019 Corvette with them, etc.

That's interesting, I didn't remember that being in place when I last looked into them a couple years ago. Sounds like I'll have to get some new quotes and I can possibly slap the Mustang on this policy as well.

[Invective]

That's interesting, I didn't remember that being in place when I last looked into them a couple years ago. Sounds like I'll have to get some new quotes and I can possibly slap the Mustang on this policy as well.


That's a thought for me as well. My Mustang is immaculate and only 30k miles - won't hurt to ask. The nearby Hagerty agent I spoke with is multi line and wants to do quotes on everything I currently have with State Farm, which is basically everything except life insurance.

[offroadkarter]

That's a thought for me as well. My Mustang is immaculate and only 30k miles - won't hurt to ask. The nearby Hagerty agent I spoke with is multi line and wants to do quotes on everything I currently have with State Farm, which is basically everything except life insurance.

Hagerty just quoted me at 2371 for the 04 marauder, m5 and mustang. Values at 20 / 20 / 35, all set to pleasure for driving. Think the Mustang and M5 were set at 1376 miles a year and the marauder at 500.

I'm going to see what Grundy comes back with as a comparison, I feel like 2300 is a bit steep.

[Blwnmerc]

I’m surprised nobody here mentions American Collectors I’ve been with them since 2007 with multiple fox new edge and s197 mustangs as well as my MM at @400yr insurance for 20000 appraised value

[Invective]

I’m surprised nobody here mentions American Collectors I’ve been with them since 2007 with multiple fox new edge and s197 mustangs as well as my MM at @400yr insurance for 20000 appraised value




JC Taylor is another name that pops up. I'm looking at: Do they write insurance in my state? Who requires the least amount of restrictions? I really don't have a 'daily driver' as I only drive when absolutely necessary.

[sspmustang]

That's a thought for me as well. My Mustang is immaculate and only 30k miles - won't hurt to ask. The nearby Hagerty agent I spoke with is multi line and wants to do quotes on everything I currently have with State Farm, which is basically everything except life insurance.


Not sure of your Mustang's year, but I have an '04 Mach1 insured with Hegarty, along with 4 other cars. No trouble at all for a newer vehicle.


It's encouraging to see those kinds of Marauder values. Perhaps the car is finally gaining some collectible status, as it should after 15/16 years.

[Merc-O-matic]

Holy smokes, Grundy is only $213/yr for $15000 agreed value.

I may have to switch.


I highly recommend you do!
My fleet is with Grundy.

[MyBlackBeasts]

JC Taylor is another name that pops up. I'm looking at: Do they write insurance in my state? Who requires the least amount of restrictions? I really don't have a 'daily driver' as I only drive when absolutely necessary.


With JCTaylor you will need a daily that is less than 20yrd old and their underwriting rules are WAY stricter than Hagerty (my company owns JCT), which is why their premiums are significantly lower - less risk. Don't bother applying.


With no DD, you won't get a collector policy, you'll have to stay with ACV coverage on a Std carrier policy.

[BUCKWHEAT]

To summarize, there are four collector car insurers: Grundy, Hagerty, American Collectors and JC Taylor. Any others?
Questions to answer:
-How much will it cost?
-Am I limited in total miles per year?
-Can I get occasional pleasure driving included?
-What other use restrictions are included?
-Must I have another car as daily driver? Can it be insured with a different Ins company?
-Do I estimate my stated value to cover modifications (in whole or in part)?
-Are they picky about my personal driving record, accident history, age, etc.

[Invective]

With JCTaylor you will need a daily that is less than 20yrd old and their underwriting rules are WAY stricter than Hagerty (my company owns JCT), which is why their premiums are significantly lower - less risk. Don't bother applying.


With no DD, you won't get a collector policy, you'll have to stay with ACV coverage on a Std carrier policy.


I've owned the Ranger the longest and declared it as my DD to Hagerty already, agent seemed to be fine with it. Will mention my Mustang the next time I sit down with her. Truth is I hardly drive anywhere anymore since retiring except for the rare family related trip. Less than 5k miles per year spread among 5 vehicles.

Before retirement, my vehicles sat parked 1-2 months at a time while I traveled the US - Canada, primarily by oversized vehicles and commercial air travel. This being the primary reason for their pitifully low odometer readings now, Marauder being the obvious exception as I purchased it after retirement.

Grundy excluded me right away (shelter), but Hagerty has been positive from the beginning, from web page to contact with agent. If anything changes I'll inform the board as all of my auto coverage renews in July. A bit disappointed SF doesn't offer similar coverages.

[Gryphonzus]

I have mine insured with Hagerty with a replacement value of $25,000. I thought they were very generous with their mileage and the prefer it in a garage and not a daily driver.

[Invective]

To summarize, there are four collector car insurers: Grundy, Hagerty, American Collectors and JC Taylor. Any others?
Questions to answer:
-How much will it cost?
-Am I limited in total miles per year?
-Can I get occasional pleasure driving included?
-What other use restrictions are included?
-Must I have another car as daily driver? Can it be insured with a different Ins company?
-Do I estimate my stated value to cover modifications (in whole or in part)?
-Are they picky about my personal driving record, accident history, age, etc.


One more very important question.


Does the insurer require that the vehicle be parked in a secure shelter?

Grundy stated 'yes' while Hagerty stated that shelter wasn't necessary here in NC as long as the car's primary residence is at least 50 miles from the coast. I also live in a sketchy zip code (Hagerty agent in same zip code!) but apparently a number of factors that matter are positive.

The only 'vehicle crimes' I'm aware of was where a local with mental issues was going through unlocked cars scrounging for change - don't recall any damage being reported or insurance claims being filed. Yeah, he still lives in the neighborhood with family - suspect his medication was modified as I never see him anymore.

[sailsmen]

For those that are not eligible for Specialty Car Insurance ask about the Value +20% endorsement.

[kirk]

I find the shelter comments about Hagerty interesting because I'm pretty sure they told me mine had to be in a heated and locked garage. May be a location issue as noted by others.

[NXSBOB]

To summarize, there are four collector car insurers: Grundy, Hagerty, American Collectors and JC Taylor. Any others?
Questions to answer:
-How much will it cost?
-Am I limited in total miles per year?
-Can I get occasional pleasure driving included?
-What other use restrictions are included?
-Must I have another car as daily driver? Can it be insured with a different Ins company?
-Do I estimate my stated value to cover modifications (in whole or in part)?
-Are they picky about my personal driving record, accident history, age, etc.
I have "American Modern" stated value that I got through the AAA insurance, which covers my other vehicle and homeowners.

[MyBlackBeasts]

One more very important question.


Does the insurer require that the vehicle be parked in a secure shelter?

Grundy stated 'yes' while Hagerty stated that shelter wasn't necessary here in NC as long as the car's primary residence is at least 50 miles from the coast. I also live in a sketchy zip code (Hagerty agent in same zip code!) but apparently a number of factors that matter are positive.

The only 'vehicle crimes' I'm aware of was where a local with mental issues was going through unlocked cars scrounging for change - don't recall any damage being reported or insurance claims being filed. Yeah, he still lives in the neighborhood with family - suspect his medication was modified as I never see him anymore.


Some do. Hagerty will allow carport or driveway parking depending on vehicle value but the rules differ by state so check with the agent or call Hagerty and speak with one of their phone agents, they are very good.

[sailsmen]

I have "American Modern" stated value that I got through the AAA insurance, which covers my other vehicle and homeowners.
I would read the definition of "Stated Value".

[MyBlackBeasts]

I have "American Modern" stated value that I got through the AAA insurance, which covers my other vehicle and homeowners.


Stated value is still subject to ACV and your settlement can be LESS than the stated amount.


Stated value coverage is not the same thing as "Agreed" or "Guaranteed" value coverage like you get through Hagerty or JCTaylor (there are other companies also but not sure what their products are - these 2 I know as I sell them).

[offroadkarter]

Hagerty just quoted me at 2371 for the 04 marauder, m5 and mustang. Values at 20 / 20 / 35, all set to pleasure for driving. Think the Mustang and M5 were set at 1376 miles a year and the marauder at 500.

I'm going to see what Grundy comes back with as a comparison, I feel like 2300 is a bit steep.


Heard back from Grundy, they want 4100 dollars :mad:

That was for the 3 + the black marauder as a daily. I'd feel like I'm back in NJ paying ins prices like that.

Guess I keep on hunting

[sailsmen]

Stated value is still subject to ACV and your settlement can be LESS than the stated amount.


Stated value coverage is not the same thing as "Agreed" or "Guaranteed" value coverage like you get through Hagerty or JCTaylor (there are other companies also but not sure what their products are - these 2 I know as I sell them).

Generally "Stated Value" is used when you want to insure an Auto for less than it's ACV. Generally it's a Max.

Check your individual policy for the definition of "Stated Value".

[MyBlackBeasts]

Generally "Stated Value" is used when you want to insure an Auto for less than it's ACV. Generally it's a Max.

Check your individual policy for the definition of "Stated Value".


Works other way too.


I state my MM is worth $10,000. At time of loss it is determined the ACV is $7,000 = $7000 settlement


I state my MM is worth $10,000. At time of loss it is determined the ACV is $15,000 = $10,000 settlement.


This is why it is dangerous to insure antique/collector cars on a standard carrier policy with a stated value. Most agents don't explain it to the client (if they even understand themselves) and the client thinks they are getting the stated value as a settlement. I find people on these all the time, they are shocked when it's explained to them.

[Bronxxx]

Hello from Canada!

Just got my MM insured through Hagerty yesterday for $25600. Process was very smooth over the phone and by email. $840 for one year. Restrictions has to be garaged, only for pleasure, and you need a daily driver. No mileage restrictions. If car is written off I have option to keep it. Probably won’t.
I’m driving it as of today. :burnout: so happy.

[Mguildo]

Mine is $250 @$15000 stated value with Grundy and you must have a DD for everyone in the household .not supposed to use for errands,work ect but the occasional joy ride is acceptable

[BUCKWHEAT]

JC Taylor is another name that pops up. I'm looking at: Do they write insurance in my state? Who requires the least amount of restrictions? I really don't have a 'daily driver' as I only drive when absolutely necessary.
JC Taylor just told me the 03MM is too new.

[BUCKWHEAT]

just quoted $631 for one year. $20k guaranteed value. 2002 CVPI as daily was fine. No coverage on drag strip & road course tho.