Decode L78

[Pacecar1969]

I was told by a Canadian that classic cars need to be appraised for insurance in Canada. There is no stated value like we have

[ZiggyL78]

I am with Hagerty.My agent asked me how much I wanted it appraised for.She told me book value was 93.5K and I said that will work.Then she told me to send some photos.That is it.

About 4 years ago the same company said they would need an appraisal for anything over 30K.

[ZiggyL78]

Originally Posted by Pacecar1969

I was told by a Canadian that classic cars need to be appraised for insurance in Canada. There is no stated value like we have

It was that way for a while.If you wanted your car insured for more then $30K you would have to get an appraisel which cost $100 - $200.Hagerty now has this site were they/you can look up the value.You would think that Hagerty would keep these values low so they wouldn't have to pay out so much when a car was stolen or written off.Not so.The values are high.No idea why.Maybe they think they will have more customers if values are high.Also.I think the customers premiums will get higher now with the higher values.

https://www.hagerty.ca/valuationtools