I just received my Hagerty insurance renewal and they offer the 'valuation tools' for our cars. Mine has held steady now for the past two years after actually jumping too high after the Covid mess of inflated prices.
My 86,000 miles stock 2001 'vert in 'good condition' is supposed to be in the $16k area and that's exactly what I have it insured for at the agreed value of $16,500. There actually was a 10% depreciation for my automatic transmission. The manual is worth more. So few 6 speed 'verts were made though it really doesn't apply to many folks.
Just info to pass along for anyone interested.

 

Considering inflation, I think that value is a bit low.

 

I bet if you posted a picture of it here it would raise the value of it. I for one would love to see it.

 

NC01TA's car is exceptional; it looks like it has less than 1/3 of the mileage that it actually has. I sometimes think he must've driven the car around in a bubble all these years!! Most examples of comparable mileage don't look even half as nice, and certainly wouldn't bring as much money from any discriminating shopper.

 

Yep, these cars (like all those that have come before them) have reached the age where depreciation has slowed sufficiently that it has fallen below the (general, not instantaneous) rate of inflation, resulting in overall appreciating values. Even Vegas and Pintos appreciate eventually.

I guess its time for me to take another look at Hagerty. When I looked ~10 years ago, Hagerty could not beat my Farm Bureau rates on my T/A (I use Hagerty on my Cutlass as they are WAY less expensive than Farm Bureau on that car).

 

Thank you RPM WS6 as always.

The Snack Artist It's definitely good but not excellent IMO. Excellent would bring the valuation higher, into the low 20's. Mileage is too high at 86,000 plus the front bumper has been painted (I had accumulated far too many rock chips over the decades). Also I had a small accident to the rear right quarter last year when I backed into my driveway wall.
Here you go.

 

Hagerty is generally pretty high in the world of agreed value policies, in my experience. They can't come close to the rates I pay with Grundy for the same coverage.

 

I owned a 96 Z/28 I bought new from the dealer. When these came out in 93 I went and plunked down $300 bucks to get one. Then I bought another house. Withdrew the down payment. These cars are really a great bargain right now. Nice picture! Nice car!

 

I have no idea as I haven't priced any other companies for awhile. My T/A policy is $372 for one year for that $16,500 value I mentioned. I do get all the discounts associated with being old and having two cars with Hagerty. They insure my R/T as well at about $550 for a $40,000 agreed value. Of course every state is different, driving records and credit scores, and whatever they base rates on. Just sharing my own info. I'm OK with it. My Mustang is listed as my 'daily driver' with another insurance company, bundled with my home insurance.

 

I'm not really sure why they have your car valued so low unless it's regional. My 00 WS6 vert is good valued at $26.6 with 56k miles. Take the 10% off and it's still at $23.9 but im sure I could get $25k out of it if i had any intrest in selling. I'm on the east coast and everything here is more expensive than the south or the middle of the country so that may have an effect.
Photo included because why the hell not !

 

Wow! That car is STILL valued that high? That's great for you! C5s aren't even in the ballpark! 69 Cutty w/ a BBC? Why not? (customer wanted a chevy)

 

Wow, Hagerty really is high.

Grundy covers my '98 Z28 for $218 annually, that's for $33,500 in coverage (I know it's not worth that much, but they have raised it for me over the years with very little increase in premium). They cover my '71 Nova for $273 annually for $42,000 in coverage. It's really hard to beat their numbers, but those rates only apply to cars 25 years and older. So for the newest LS1 F-bodies (2001-02), it would still be a higher rate until they hit 25.

 

I think the (real, actual sale) value on the convertibles is highly dependent on the region. In certain climates they are very popular and bring good money, but in my area it's the other way around. Every year I see some really nice convertible 4th gens for sale in the Great Lakes region, and they just sit and sit, and the price always has to get lower than a comparable hard-or-t-top car before they sell. It's just the same for the C5 convertibles. Not sure how many other areas are like this, but around Chicago the LS1 convertibles generally have to be a steal before anyone will buy them. It's no surprise given our weather here.

 

I'm not a big fan of verts. The designs now are so "safe" the windshield top is nearly past your head. May as well be a hard top or T-Top for as much "top down" driving you're doing. I have owned a few Cadillac Full Size Verts. I really like them but they are only very good on a mid summer night when the temperature is around 75 and you can put that top down and cruise! That being said, they are still really cool any other time. I put the roof down nearly every time I drove one.

 

^^ Wonderful photos guys! Thanks for sharing them. @Y2K-WS.6 That almost looks like Acadia NP but the mountains seem too high. Finger Lakes region of NY?? I like guessing. Those black wheels are sharp. It stinks you still have front license plates though.

RPM WS6 Man, that is a better deal with Grundy. Oh well, maybe next year I'll re-visit the policies but it's done for this year.

 

Prospect Mountain, Adarondack mountian range, Lake George, NY. It's claimed to have a 360° 100 mile view. I've never been there on a clear enough day to see that far. Yeah NY has to be able get you coming and going. Easier to write tickets that way.

I'm on my 5th year with Grundy on this car, $189 for $25k agreed value full coverage with $100k/$300k liability. I have been with Grundy for nearly 30 years though.

 

^^ You guys are getting wonderful prices. May I ask if there are any limitations? I'm sure all the companies have the garage requirement so no problem there, but how about driving or mileage? Hagerty encourages you to drive. Car show or trip out of state? No problem. Main daily driver is the no no with Hagerty. That is strongly forbidden.

 

Yes all such policies have limitations my own included. No drivers under 25 are allowed behind the wheel is a biggie, I even had to sign an affidavit swearing to this because I had 2 under 25 yo's at home at the time. No commuting but that doesn't mean your not allowed on the road during rush hour they don't want you using your classic as a stand in for your daily including shopping trips. Of course garaged at home but no mileage limitations and if you're away from home there is no garaging requirement. We've used the car for two 1k+ mile vacations so far and may do another one this year.

 

Everything Y2K-WS.6 posted above is correct. Grundy requirements are about the same as most other collector agreed value policies; no daily drivers or use as back-up primary transportation, and it must be stored in a garage when not in use, but there is no problem with pleasure use and mileage is completely unlimited in regards to hobby related activities (such as shows, events, or cross-country trips like the Power Tour, etc.) Again, your rate would be much lower next year when your car hits 25, as they charge less for those. The rate for my '98 was still lower than with Hagerty even when it was pre-25, but now that it's an antique it's really cheap to insure with Grundy. I don't know if the Hagerty rates change when a car hits AV status or not.

Actually, I also have a pretty good price from State Farm for my '74. I couldn't do Grundy for that one as it currently sits outside, but it's a private parking pad behind my house so they were fine with this. Only $214 per year for $15,000 in coverage on that one.

 

Thanks so much guys!!!