Values for insurance, where to get?


wanna catch the space herp
10 Year Member
Sep 1, 2010
Kearney, NE
So besides Hagerty for vintage cars and for cars going back to 1992, what other reliable sources of reference are there currently for fair market value on a 91 Mustang, and a 65 Olds Cutlass?

The back story, when Nationwide tried to spin off the “collectibles” onto Hagerty, I got three vehicles classified as “excess vehicles” snd kept them on Nationwide. I want to drive them when I want to, modified as I want to, and the restrictions for Hagerty in this state did not fit well. So for the moment, actual value is what they and my other project are covered under. I am looking at agreed or stated value, but need an idea of what “actual value” might be now.

Yes, I will have a reputable resto place give a written valuation and I will photo and paper document the vehicles. But I want a reliable place to start. The house and auto coverage prices jumped in the area and I am shopping.

Thanks for the info if you are in that end of the business.
  • Sponsors (?)

When you go for your agreed value coverage, do NOT get it set at what cars like yours are selling for.

You want to set the coverage to real replacement value. That is to say, what it would cost you to buy another in the state yours was in when you bought it, and the time and money required to get it to it's state as-insured.

If you figure you have 100 hours of time in it, $10,000 in parts, and started with a $2000 car, you don't want that car covered for any less than $22,000, even if a similar car is selling for say, $5000-10000. You want to be made "whole" if something happens to the car.

This was explained to my car club by a Grundy's insurance agent a few years back. We found out really quickly that most of the club (which was almost all concours or close to it classics that were only driven to shows and/or for club tours) was WAY underinsured.

You'll also want to re-evaluate it periodically to make sure you're keeping up with the changes in the market for these cars (which, honestly, the Mustang market is straight-up weird right now with non-5.0 SN95s, non-Terminator New Edge, and 4.0/4.6 S197 cars being dirt cheap, while Mustang IIs, non-Aero foxes, and 71-73 coupes that used to be the cheap cars wearing the "Mustang" name now have actual value). Expect that trend to continue.

I warned the II guys about changing their insurance awhile back:

It's crazy the money that IIs and Foxes are getting at auction and collector dealerships these days.
Last edited:
  • Like
Reactions: 1 users
Exactly, you KNOW what your car is "worth" to replace. Use that number for an agreed value policy. Do note, the insurance company also has to agree, so you do need to be realistic (and of course the premium increases with the increase in value too). I use Hagerty.
  • Agree
Reactions: 1 user
Hagerty (st least in this state) prefers to cover vehicles with less than 50 Hp of modifications to the engines and stock aesthetics. Grundy does not care about mods, but is more of a stickler about use. State Farm used to do stated value, so that’s one I need to look into.

So, besides Hagerty’s site, and somebody that has a NADA guide, is there another source of valuation info I can get at without an expensive subscription? Comparable sales are harder to find than for real estate for one of the cars.
I have used American Collectors Insurance on my Dodge for 12 years, and recently added my BMW... They will have a maximum limit but its WAY above what I think the dodge is worth... Saved me $800 a year on my BMW, as it fit there criteria ( low miles driven and in a locked garage).....
I have never had to make a claim against them soooo..... Other than that they have been more than fair...

Personally, I wouldn't use State Farm to insure my skateboard.....


  • DSCF0097.JPG
    422.1 KB · Views: 30
  • Like
Reactions: 1 user