72-CLASSIC_RIDE Posted January 30, 2022 Share Posted January 30, 2022 Almost time to renew my Hagerty Insurance for another year and looking to update my 72 Monte value. From what I read, an average 1972 Monte today is worth $24000.00 and mine is Agreed value at $17000.00. What values AVERAGE have any others experienced and if this Guesstimate is ballpark for this year? Just curious what others have learned. If true, explains a lot on those $7000.00 and up that need in many cases major dollars required to bring back to life. Thinkin I'm falling behind here.................... Doug Quote Link to comment Share on other sites More sharing options...
Blake350 Posted January 30, 2022 Share Posted January 30, 2022 Hagerty recently sent me an email-unsolicited-stating "the value of these cars is increasing and they recommended increasing the agreed value by $1,000 - many years ago I requested the figure set at $14,000 (the purchase price plus repairs and upgrades-clearly more than what I feel it would sell for- but fun of this type is not measured in dollars and cents- and she's not for sale ) I would say come up with an agreed value you feel comfortable with, and if they accept it with an acceptable premium everyone wins! (not trying to preach to the choir here-just thinking out loud...) wow if the average monte is valued at $24,000 maybe I have been under a rock for too long... 1 Quote Link to comment Share on other sites More sharing options...
cny first gen 71 Posted January 30, 2022 Share Posted January 30, 2022 I have Hagerty also its insured for 12 k now but gonna bump it up to 15 this year at there suggestion. 1 Quote Link to comment Share on other sites More sharing options...
Jared Richey Posted January 30, 2022 Share Posted January 30, 2022 Yes. Up it. A nice small block car is 25k. Guy paid 31k for my blue one at streetside. I'd put 30k on it Quote Link to comment Share on other sites More sharing options...
Canuck Posted January 30, 2022 Share Posted January 30, 2022 I just recently increased the agreed value on the 71 SS Hagerty policy. I'd say yours could easily have an agreed value of $25k. Quote Link to comment Share on other sites More sharing options...
MC1of80 Posted January 30, 2022 Share Posted January 30, 2022 I have American Collectors Insurance and they up the value automatically every year. Quote Link to comment Share on other sites More sharing options...
Glen Posted January 30, 2022 Share Posted January 30, 2022 Through Hagerty, I had my ‘70 SS’s agreed upon value at the same amount that I paid for it, for the first year. The following year I was able to up that amount by 16K - yes, $16,000 - based on current values. They asked for pictures when I first insured the car thru them, but didn’t require pix for the increase. I mentioned that the new interior will be done this year… they said to recontact them when it’s done to again increase the agreed upon value. Best part is the premium increase wasn’t crazy. Everything points to our cars’ values moving in the right direction. Quote Link to comment Share on other sites More sharing options...
Leghome Posted January 30, 2022 Share Posted January 30, 2022 Grundy is my company and agreed value is $25,000 and has been for over 5 years. At $198 a year i consider that a bargain. Quote Link to comment Share on other sites More sharing options...
DragCat Posted January 30, 2022 Share Posted January 30, 2022 I suggest using the Hagerty valuation tool on their website to get a reasonable idea what our Monte's are worth. I bumped up my blue oval ride a few years ago because I was under the curve. I hope I never have to use it, not that's ive ever heard of any issues with them with their claims. Quote Link to comment Share on other sites More sharing options...
71SSclone Posted January 30, 2022 Share Posted January 30, 2022 I also have Hagerty, and put an agreed value on my Pontiac and Monte Carlo at $25000 each. The premium is still very reasonable. Quote Link to comment Share on other sites More sharing options...
Michael Boyte Posted January 30, 2022 Share Posted January 30, 2022 Grundy is our insurer and has been for over 15 years. Agreed value is off the charts and very reasonable. My first cousin had Grundy insurance on his pro-street carbon fiber 41 Willis (agreed value $175,000) and it was stolen. He received a check for the full amount, no issues at all . Based on that, I would never even consider changing companies 1 Quote Link to comment Share on other sites More sharing options...
jft69z Posted January 30, 2022 Share Posted January 30, 2022 5 hours ago, Michael Boyte said: Grundy is our insurer and has been for over 15 years. Agreed value is off the charts and very reasonable. My first cousin had Grundy insurance on his pro-street carbon fiber 41 Willis (agreed value $175,000) and it was stolen. He received a check for the full amount, no issues at all . Based on that, I would never even consider changing companies I have Grundy too, for my Monte. Way more reasonable for my appraised value than the other places as well. Glad to hear they do a good job when there are problems. Quote Link to comment Share on other sites More sharing options...
Scott S. Posted January 30, 2022 Share Posted January 30, 2022 I added my '70 to the existing policy ( Intact home/auto) and my rates are $125.00/year. After the June 2020 hailstorm, they wrote her off, and after some quick dealings, they wound up giving me $14,000.00 and let me keep her. That was more than enough to get all the damage plug the pre-existing bodywork repaired. Now I just need to get a new appraisal to verify her value. 3 Quote Link to comment Share on other sites More sharing options...
Searsman Posted February 10, 2022 Share Posted February 10, 2022 Had State Farm on the 71 ever since I bought it.. last appraised 2 years ago 30,000$.. State Farm was less than Hagerty, but, all of my other insurance is with State Farm, could be the difference... 1 Quote Link to comment Share on other sites More sharing options...
Glen Posted February 10, 2022 Share Posted February 10, 2022 4 hours ago, Searsman said: Had State Farm on the 71 ever since I bought it.. last appraised 2 years ago 30,000$.. State Farm was less than Hagerty, but, all of my other insurance is with State Farm, could be the difference... It’d behoove you to revisit the agreed upon/appraisal amount. Doubling that 30K figure (and then some) on a ‘71 SS in that condition is all but guaranteed. Well worth the premium increase in the event your baby is somehow rendered a total loss. 1 Quote Link to comment Share on other sites More sharing options...
jft69z Posted February 10, 2022 Share Posted February 10, 2022 9 hours ago, Searsman said: Had State Farm on the 71 ever since I bought it.. last appraised 2 years ago 30,000$.. State Farm was less than Hagerty, but, all of my other insurance is with State Farm, could be the difference... I have had State Farm for about 40 years now, house, cars, motorcycles, etc. My Camaro has an appraised value policy with them, as you said , it's a very reasonable policy (55K value a number of years ago, needs to be re-done actually). When it came to the Monte a couple of years ago, I got the appraisal from the same gentleman as the Z/28, Jim Sandoro. Very well respected in the car community, Grundy, Haggerty, etc all knew him and didn't bat an eye with his appraised value. State farm initially took the policy, then I get a letter months later saying they're dropping the value to what their 'experts' say it's worth, over a 25K reduction (but keeping the same premium cost, big surprise). Needless to say, after a lot of phone conversations and aggravation, I had to go with the Grundy policy, which was considerably more than the initial State Farm price, and the Z/28 policy. My agent recently called and said 'good news'.... State Farm bought Haggerty and they should be able to insure the Monte in the future. Only problem is Haggerty wanted nearly $800 a year for the policy at the time. Still way more than the Grundy price. I may call S.F again in the spring when the Grundy policy is due, but don't have high hopes they'll be in the ball park, if they even honor the appraisal this time. 1 Quote Link to comment Share on other sites More sharing options...
Leghome Posted February 10, 2022 Share Posted February 10, 2022 Grundy was by far the cheapest of those I checked 5 years ago. About $100 less that Classic Collectors plud I checked a total of 4 companies but do not remember the rest, I remember Classic because tha tis wht I had before Grundy 1 Quote Link to comment Share on other sites More sharing options...
Searsman Posted February 11, 2022 Share Posted February 11, 2022 Thanks guys, I don’t think I have a Grundy rep in my area but I’ll check for sure when the policy is due.. glen, sounds like I’m underinsured.. problem is getting an insurance company to agree with that.. like joe I have all my other insurance w State Farm but if they did me like that I would go elsewhere too.. I’ll definitely check Grundy out.. until now I had never heard of them.. Quote Link to comment Share on other sites More sharing options...
Rob Peters Posted February 11, 2022 Share Posted February 11, 2022 Ron, many of the antique auto insurers do not have local agents. You can contact them through their on-line website or an 800 phone number. It is nice that way because you can shop around. rob Quote Link to comment Share on other sites More sharing options...
Searsman Posted February 11, 2022 Share Posted February 11, 2022 Will do, thanks 👍🏻 Quote Link to comment Share on other sites More sharing options...
Michael Boyte Posted February 11, 2022 Share Posted February 11, 2022 Grundy Worldwide 1-888-647-8639 Quote Link to comment Share on other sites More sharing options...
Bad Wolf racing Posted February 11, 2022 Share Posted February 11, 2022 Due to the level of build I'm doing, I worked with Hagerty on the value of the car once complete and I went high; I anticipate having close to $50K and they didn't bat an eye. I don't recall the premium but it was very inexpensive for what I got. Quote Link to comment Share on other sites More sharing options...
smokinquack Posted February 19, 2022 Share Posted February 19, 2022 So here's the thing about insurance. Its meant to cover your losses. Agreed value is great caused it dosent matter what you have, your premium covers what you claim you lose. I spent 12,000 , put in another 4000, so I insured it for 20,000. I would be devistated if somrthing happened cause I looked for this car for 3 years but value is what it is. Chevellels just like our Montes sell for twice the price, so its hard to go by any kind of " book value". I spend aboiut $230 a year for my 70 454SS through Hagerty, I think its worth it. Quote Link to comment Share on other sites More sharing options...
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