Old Cars Price Guide
 

The latest copy I have of the Old Cars Price Guide is a 2007 version. I'm
wondering if anyone has a more current copy as I need to establish a value
for my 32 5Win Coupe for insurance purpose based on the book's #1
condition. None of my local book stores have any copies for sale.


Peter

Re: Old Cars Price Guide
 

I have a 2017 edition but I can’t locate it, looks like you can buy a month for under $5., probably cheaper than finding one on eBay.

Re: Old Cars Price Guide
 

Suggest that you find the most recent issue of Old Cars.
They just had pages with current values (part of their annual price guide update) in the magazine.

Re: Old Cars Price Guide
 

The way things have been going, you might be better off just using the 2007 issue.

Re: Old Cars Price Guide
 

Probably more accurate.

I have found that the Old Cars price guide was never even close to reality with my 39 / 40 Fords. In later years, they would simply apply a formula to all listings vs. doing the research required (actual sales) to gain a more realistic estimate of value.

I believe the best way to ascertain value is to do your own research over a number of sales venues.
Do NOT consider asking prices.

Re: Old Cars Price Guide
 

I have had insurance with State Farm for over 60 years. While I have never owned a show car of immaculate restoration, I have never been denied insurance on the value I wanted coverage for. It has always had more to do with the amount I have invested than a value that I presumed it would sell for. I believe that is why I buy insurance, to cover my loss if something should happen. To my simple thinking it makes it quite easy to determine a value.

Re: Old Cars Price Guide
 

100% correct.

Re: Old Cars Price Guide
 

X2. The only alternative worse than the price guide is an appraiser's opinion.

Re: Old Cars Price Guide
 

When I bought my '47 my insurance company required a written Appraisal from a certified- qualified person. I got one from a national ford contest judge that lived near me. Had to pay him a small fee but was worth getting an accurate value.

Re: Old Cars Price Guide
 

Thanks to all of you for your suggestions. I've been involved in the process of transferring
my vehicle insurances into the hands of a local State Farm Agency and I will mention
several of your comments to the agent I'm dealing with.

Peter

Re: Old Cars Price Guide
 

Compare the State Farm rates to Grundy or Hagerty. I think you find a huge difference as State Farm rates have skyrocketed. I've been using Grundy for a long time on my old Fords and their rates are about 50% cheaper than State Farm. I use State Farm for my newer cars and the rate on my 2014 F-150 has almost doubled this year. I live in California so that is also a problem.

Re: Old Cars Price Guide
 

Hey Tom,
I compared my SF rate to Hag just now. After deducting the Hag $70 fee their quote was 20% higher than what I am paying for the same coverage. Living in the cold Midwest winters has an advantage I guess. LOL

Re: Old Cars Price Guide
 

I have had the opposite experience. I have had Grundy and Hagerty. The regular auto insurance folks wanted to insure the car like it was a daily driver. The cost was much higher with them.

Re: Old Cars Price Guide
 

This has been my experience as well. Over the years, I have run into several people who do not really understand collector car insurance. I told one guy with a Prowler about it, but when they balked at his request of an agreed value of $85,000 for it, he got mad at me. I had an elderly neighbor who had a very nice low mileage '70 Mustang he had bought new. I suggested that he could save a lot and get better coverage by going to a collector company. When I talked to him later, he said that when asked State Farm agent (whom he had been with for years), the guy told him there was no such thing.

To illustrate the difference, I am paying $1200 per year for minimum liability coverage and no collision coverage on my '99 F150, while my policy with Hagerty is $508 per per year for 3 collector cars with a total agreed value of well over $100,000, full coverage with zero deductible. It also includes roadside assistance coverage.

Re: Old Cars Price Guide
 

The yearly premium for my two collector vehicles through Haggerty (total declared value $45,000) is $272, which I think is very reasonable.

Re: Old Cars Price Guide
 

I couldn't help but laugh when you said he thought the value was $85k. What planet is this guy on? Those pieces of s-- are on bring a trailer all the time. I don't recall seeing one go past $20k.

Re: Old Cars Price Guide
 

Yeah but, he said his only had 38,000 miles!:D

Re: Old Cars Price Guide
 

Yeah, so $15k.

Re: Old Cars Price Guide
 

I'm surprised that the State Farm rate was less than Hagerty. I've used Grundy for years and they also give you a discount rate if you have more than one car. I will say that I have only filed one claim with Grundy due to some earthquake damage to 2 of my cars some time back and they handled the claim excellently. In my case I did have State Farm insuring my old Fords at one point. but the switch to Grundy has saved me a lot of money over the years. The SF rates being higher may be caused because I live in this "screwball" state! LOL

Re: Old Cars Price Guide
 

Does State Farm even offer "Agreed Value" insurance? Ever since I was a kid, they had a reputation of being hard to deal with.

If it's not specifically stated as being "Agreed Value" it is NOT the same, no matter what they tell you. "Stated Value" is NOT the same as "Agreed Value".

Re: Old Cars Price Guide
 

Tom, I think causality insurance, like politics is always local. I have 4 vehicles insured with SF. The newest is a 2015 Tacoma with full coverage, a 2005 Prius and a 2002 Rav4 with just liability, and my 1936 Ford pickup with full coverage. My total YEARLY cost is just under $780.00. In over 64 years of purchasing insurance for vehicles I have never found a lower price anywhere. The only chargeable claim I had was in 1973 when i backed into my brother-in-laws Olds and but a small dent in his bumper. Thus, I receive many discounts for multiple vehicles and accident free (claims) driving. I have insurance on our home also. 4 years ago we had a hail storm that required new shingles and gutters which was fully covered less my small deductible. This policy cost is $1420 per year. I am very happy with insurance coverage.

Re: Old Cars Price Guide
 

Hey Denny, My home insurance has replacement cost coverage which means you insure the house for what the cost of replacement is. I am not sure about "Agreed value" as far as the vehicle insurance. I believe that many folks try to deceive after a loss and the adjusters are quite good at detecting that. All the claims that I have had were hail related to houses and vehicles. I could not have been treated better. I am a satisfied SF member that has built a relationship of trust that goes both ways.

Re: Old Cars Price Guide
 

I would have thought those are the same thing. What's the difference?

Re: Old Cars Price Guide
 

Made an error. My total is $333 not $272.

Re: Old Cars Price Guide
 

This has been discussed many times in detail on the H.A.M.B., which may be a place to go for more information and examples of what some have gone through.

To summarize (according to "GOOGLE") :

Agreed value

The insured and the insurance company agree on a value for the vehicle
The agreed value is guaranteed, and it doesn't depreciate
Agreed value is often used for classic or collector cars
Agreed value policies are sometimes offered by specialty insurers

Stated value

The insured states the value of the vehicle
The insurance company may ask for proof of the stated value
The insurance company may choose to pay the stated value or the ACV
Stated value policies are often used for classic or collector cars
Stated value policies are sometimes offered by mainstream carriers

The key point here is #3 under "Stated Value", which gives the insurance company license to do whatever they want. Depreciation also factors in. Why else would there be two different categories?

Please note : I am not an insurance expert and did not stay at a Holiday Inn last night. It's just that a lot of folks have been disappointed when trying to collect on Stated Value policies. That doesn't seem to happen with "Agreed Value".

Re: Old Cars Price Guide
 

I was referring to their Auto Insurance only. I have no experience with their Homeowners product. I have avoided using them due to a problem my folks had in the sixties.

Re: Old Cars Price Guide
 

Be careful with "replacement cost" policies. Some companies determine replacement cost as to what your aged home was worth prior to the loss. Yep, you'll get a check for what your old home was worth.
Yes, in the proverbial (and actual) fine print you may be sadly disappointed to find that they will replace your "old" home. Want a newly built one and you may have to shoulder the additional monies required.

Re: Old Cars Price Guide
 

Possibly you mean=Be careful what company you are dealing with? In the end YOU are responsible for what you buy. Due diligence is the responsibility of the purchaser. Ask questions and read the fine print.

Re: Old Cars Price Guide
 

These days, that's all of 'em.:(

Re: Old Cars Price Guide
 

I have many cars insured with JC Taylor, but have never filed a claim. During a recent hurricane that was forecast to come through my area, they offered $250 per car in reimbursement to move or store the vehicles in another location. Never heard of an insurance company being proactive like that. Sure it was CYA but wonder how many car collectors in CA wish they had that option.
And I do not know how the stated value works if a claim for total loss is submitted. Do they pay the stated value with no questions, or will they do what "normal" car insurance companies do and argue over current market or replacement values? It's a minefield out there.

Re: Old Cars Price Guide
 

No, I meant what I had stated.
Replacement value policies can be a great thing. However, keep in mind, the insurance companies do their best to keep their money, not give it to you.
Even with replacement value policies, there are stated limits.
In California, many are now finding out the hard way that their insurance is going to fall far short vs. what will be needed for an individual to rebuild.
Plus, new codes mean additional costs. The old house was not up to current codes. Do you really think the insurance company is going to rebuild the old place to the new standards. Um, it doesn't work that way.

Re: Old Cars Price Guide
 

Sorry Mike, I did not mean to distort what you said. Never.
I guess, being somewhat naive, I did not realize the skepticism of insurance companies and their policies. I can only relate to 60+ years of good insurance at what I believe to be of reasonable cost. When we had a hailstorm in 2020 that required shingle and gutter replacement, I would bet that the settlement from SF exceeded the cost to build the house in 1950. I was ready that year to replace my shingles and hail from "heaven" paid for replacing the curly old ones with a color so much nicer. New gutters too. I have replacement cost coverage.

Re: Old Cars Price Guide
 

I'm currently waiting to hear back from my local State Farm Insurance rep, who has been
a delight to work with, regarding the insurance on my restored 32 5Win. I told her how much I wanted the coverage to be and she said an under writer would need to find another comparible vehicle that recently sold for a similar amount. Conversely, if they
couldn't find one that did, I would have to obtain an appraisal. I'll have to see how it all
works out. I do feel the quoted rates were very fair

Re: Old Cars Price Guide
 

Again, please be aware of the difference between "Agreed Value" and "Stated Value"

It DOES make a difference.