[Healeys] Insurance Coverage, the real value.

gardner5 at comcast.net gardner5 at comcast.net
Tue Dec 25 14:46:36 MST 2007

I just spent $21K in painting a healey, granted I went to the painter with the best reputation in the region who specializes in classic restorations, the point is, with the kind of damage evident in the photo, $12K won't go far.  As far a Hagerty goes, with me the jury is out since I've had an extremely hard time establishing an agreed value for my Healey.  My restoration is nearing completion, so I'm going to have a professional appraisal done to submit to Hagerty.  Basically at this time, I've just crossed into six figures in receipts for the restoration (Factory 100M), but Hagerty feels that $60K is a fair value.  From what the rep. assigned to my account has said, this is based on the value of a restored BN2; the fact that it is a Factory 100M is lost on them...so good luck.  It will be interesting for us all to see how this plays out.  My own plans are to drive my car so others can get the enjoyment of seeing it on the road, etc., but if you can't get adequate coverage....just
 look what could happen...


-------------- Original message -------------- 
From: Kent McLean <kentmclean at comcast.net> 

> Charlie Baldwin wrote: 
> > Some one came to look at the car for Hagerty and estimated $12,000. 
> IANAL, nor am I an insurance agent, but... that someone from Hagerty is 
> probably trying to settle the claim for as little as possible. 
> If it were me, I'd have a real body shop, one that specializes in 
> classic Jaguars, give you an estimate. Make sure they give an estimate 
> to put it back the way it was. That may include a total repaint of the 
> entire car, to match the color. Then give that estimate to Hagerty and 
> let them deal with Mr. Hummer. 
> But be ready to put up a fight. Include any documentation you may have 
> for previous work done to the rear (body work, suspension, fuel tank), 
> and the costly down-to-bare-metal repaint you just had done. And if they 
> want to write it off as totaled, show them a list of similar E Type 
> convertibles that auctioned off for $75,000+. :) (Unless you had an 
> agreed-value policy.) 
> Or you can shrug your shoulders, take their first low-ball offer, and 
> say, "That was easy". 
> -- 
> Kent McLean 
> '56 100 BN2 
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