Hagerty in Ontario

[turbobuickltd]

I was getting an appraisal for an old Cadillac I just picked up, the Ministry in Ontario requires one on cars older then 20 years to tax you on the appraisal price, I could go on about that but I want to pass on some information about Hagerty.


I have had "agreed value" coverage on my Buick since my former classic car coverage was insurance company was bought out by Hagerty a few years ago.  I specify Ontario because in Canada each province has slightly different rules for insurance.  As I am sure it is the same in the US from state to state.  The gentleman who I have used for a number of appraisals passed on some information to me.  He told me of a 57 Chevrolet that had been stolen.  The owner had agreed value coverage for $70000 with Hagerty.  When he filed his claim Hagerty informed him that he would get $42000.  The owner was caught of guard due to the "agreed value" clause.  Hagerty came up to $65000 after a lengthy back and forth and told the owner go to court if you want a penny more.  Well the stolen Chev's owner had a recent appraisal for the car at a value of $70000.  He told Hagerty "see you in court and you will have to pay my court costs when I win".  The appraiser was called to testify.  The Judge asked for the appraisal and treated the appraiser's testimony as expert testimony.  The $70000 claim stood and Hagerty had to pay the Chev Owners court costs as well.  Had there not been an appraisal the Judge has to utilize the next expert in line for a vehicle value which is the Insurance Company.       


Also with no appraisal the insurance company will not pay you the sales tax on top of the agreed value to replace the car.  That is a 13% hit in Ontario.  i.e $10000 policy would be paid without the additional $1300 to cover the tax if there is no appraisal fo the car.


Now his business is based on making money from appraisals, I realize this and this could be an elaborate marketing tool, but I think the gentlemen who shared this with me was being honest as he has never brought this up in the 3 times I had used his services before.  I have not taken the time to dig yet to find the ruling, in Canada everything in the courts ends up on www.canlii.org/en/ .


I am going to stick with Hagerty, but I am going to spend $150 to have a current appraisal.


Happy Buicking!

[Scoobum]

My insurance company had an appointed appraiser sent out when my GN was stolen after Dan and I recovered it. Agreed professional appraisal on my GN is $28,000 Canadian on file with my insurance company.

[daveismissing]

Who are you using for appraisals?

[reality]

There is a difference between stated value and appraised value. You can state the value is say 100,000 but the insurance won't pay that. If the insurance accepts an appraisal of same they will pay,  after you jump threw a bunch of hoops usually.
'
The rate you pay usually reflects the higher amount tho.

[nocooler]

I have Grundy - My firechicken’s agreed value is 20k. They claim they pay 100% or agreed value, but I’m sure at some point they’d want an appraisal.

[reality]

How does the insurance company protect itself from fraud without an appraisal?

[nocooler]

If I remember correctly, they just wanted pictures.

[Scoobum]

Who are you using for appraisals?

My insurance company called in a guy from Niagara Falls. I assume he's one of 'their' guys.

[daveismissing]

Hagerty claim to rely on their own database to validate. Surprised  they didn't honour the coverage paid for.  Below 1987 GN Hagerty Canada

[Pyro6]

I'm having an unpleasant experience with Heacock. Their anxious to pick the car up before I get paid, plus I'm waiting for certified mail that has forms that need filled out.

[Steve Wood]

Sell the car to Jason!  It will live again!

[TexasT]

I wouldn't let it out without your money. They are liars in my experience with that type. Get your money first. Then they can have the car. I wouldn't even call them one step up from a Craigslist buyer, they are right there with the craigslister.

Just trying to get one over on ya. They probably already have it sold and the buyer is chompin at the bit.

[turbobuickltd]

Who are you using for appraisals?

For my quick and easy $50 pay the tax on an old beater appraisal is a guy in South Oshawa

[Pyro6]

I wouldn't let it out without your money. They are liars in my experience with that type. Get your money first. Then they can have the car. I wouldn't even call them one step up from a Craigslist buyer, they are right there with the craigslister.

Just trying to get one over on ya. They probably already have it sold and the buyer is chompin at the bit.

I'm getting that same feeling

[Grumpy]

I'm having an unpleasant experience with Heacock. Their anxious to pick the car up before I get paid, plus I'm waiting for certified mail that has forms that need filled out.

#1 ,, keep the car till ya get paid. I had to do a renewal here. Old company got out of my state. I called Heacock. They wanted me to put a sprinkler system in the garage. Ended up with Hagerty