Question of value for insurance purposes.

[TWHawk]

I had a talk with my agent today regarding Helen, because in my policy renewal I noticed that the stated value of the car is $2,200. That scares me, because it means that vandalism or an accident that causes relatively minor damage could total the car. In my mind Helen is irreplaceable, but really there should be a way of putting a price on a classic hearse that is reasonable to the underwriters.

My agent agrees with me and has asked me to put together some proof of Helen’s actual value so that she can be well armed when taking my concerns up the food chain. What I am looking for is a list of comparable cars which have been sold within the last couple of years, or are currently on the market. I have already started searching current listings. I will be printing out whatever I find, including photos of the cars where available, and taking them over to the office.

Helen is a 1960 Cadillac Superior in excellent running condition. All of her chrome is intact, and the electric casket table is in working order. The interior is mostly intact, but worn. Most of the questions regarding her overall condition can be answered by reviewing the progress pictures from her new paint. I don’t expect the paint itself to affect the value of the car, as I am not a professional by any stretch.

If you know of any listings that may help my cause, I would appreciate the information being passed on. Just a brief description of the car and its condition, plus the sale price would be sufficient. Or, imagine for a moment that I have lost my mind and would be willing to sell my coach at a reasonable price. What would you offer me for her?

Thanks!

[Boogeyman Con Carne]

A running, driving 1960 Cadillac Hearse is a one-year-only vehicle. That year, Cadillac produced around 2200 Commercial Chassis. Of those, less than half went to Superior. Let's say 800. How many were Landaus like yours? Maybe 400. I have seen these go for $16,000-$20,000 restored, but I don't have anything to substantiate that. Were I to put a price on yours, I would say $10-$12K with fresh paint. I'm sorry I don't have more to contribute. I would defer to Atti on this, as this is the year he covets and knows far more about...

[Creepy Cruiser]

I have mine insured for $20k, I couldn't replace it for that, but it would at least get me started on another one, lol. (you couldn't put a real price on one that you've brough back from the grave)

As for where to find proof, I think you're on the right track to just keep searching the internet and asking every other hearse owner if they know where.

[EternalCombustion]

I would stongly suggest getting a licensed appraiser, experienced in the collector car market to do an appraisel on the car. I had mine done and it only cost around $50-$60.

I don't think it can be stressed enough that insurance companies are very slippery. If you end up with some damage to your car they will try to lowball and get by with paying as little as possible. If this would happen and you would have to go to court to fight them, which would you rather have in your arsenal against them. A few printed out ebay auctions or car trader adds? or a document certified by a professional, licensed by your state, declaring the actual value of your car.

I don't mean to criticize your efforts. I just believe that if you want to protect your baby with everything you can. Then this is just another step in the right direction.

[Abnorml]

The Black Book says for 1960, "Superior built a total of 977 Cadillac chassis professional cars this year, a full 22 units more than in 1959." Out of the 977, 194 were built as ambulances, So only 783 Superior hearses were built in 1960.
I'm copying this straight from The Black Book:
Superior continued to produce the innovative and beautiful Crown Royale landaulet, unchanged from last year with the notable exception of the restyled Cadillac chassis components. The 1960 Superior Crown Royale landaulet model DL-604 rear servicing funeral car carried a price of $10,781 while the same car with a manually operated three-way casket table went for $11,863 and the three-way electrically assisted car cost $12,427. The Crown Royale combination in landaulet styling commanded a price of $11,047, while the landaulet ambulance with the 42-inch headroom went for $11,166.
I don't know if any of this will help.

I would stongly suggest getting a licensed appraiser, experienced in the collector car market to do an appraisel on the car.

I completely agree with this. Some insurance company make you to have it appraised to have full coverage.

[STODD]

I would stongly suggest getting a licensed appraiser...

If the car has been appraised, I do believe there are laws that commit the ins companies to insure it for that amount if they choose to insure it.

[TWHawk]

I would stongly suggest getting a licensed appraiser...
I don't mean to criticize your efforts...

Okay, well I feel a little dimwitted. It just didn't occur to me to have her appraised because she's not your typical classic. I just committed Hearse Discrimination.

The criticism is appreciated because it's constructive. This thread is the result of my agent and I kicking around ideas regarding how to prove the difficulty and expense involved should Helen be compromised.

Abnorml - That information is indeed helpful, and I will forward it on.

Stodd - Though I have most of my insurance through this company, I would gladly go with another for the preservation of my car. I have no doubt I could find an agency willing to take my money.


Thank you everyone for your help. I'll forward what information I have currently, and work on that appraisal.

[LorcinLS1]

We added our Hearse to our Hagerty policy. Hagerty does agreed values. I've been with them since 03 and deal with them directly no agent is involved. Give them a call.

http://www.hagerty.com/index.aspx?aff=goog&utm_source=google&utm_medium=cpc&utm_term=haggerty+insurance&utm_campaign=Hagerty+Insurance+Branding&gclid=CPLC88bom5wCFeFM5QodMjq1eA

[Xanthus]

We added our Hearse to our Hagerty policy. Hagerty does agreed values. I've been with them since 03 and deal with them directly no agent is involved. Give them a call.

http://www.hagerty.com/index.aspx?af...FeFM5QodMjq1eA

What he said!

I LOVE Hagertys.

Now note to cover a car like this you must have a regularly insured car per adult driver living in your home. This is intended for collector vehicles, not daily drivers. There ARE options that allow more mileage. My Hearse as well as another car I own are covered through Hagerty. It's pretty cheap as well.

[LorcinLS1]

Hagerty dropped the milage limitations

[Xanthus]

Yeah, my agent was just telling me that....YIPPEE!

[maximpakt]

I know most collector car ins companies require the vehicle to be kept in a locked garage. Is this a requirement with hagerty?

What he said!

I LOVE Hagertys.

Now note to cover a car like this you must have a regularly insured car per adult driver living in your home. This is intended for collector vehicles, not daily drivers. There ARE options that allow more mileage. My Hearse as well as another car I own are covered through Hagerty. It's pretty cheap as well.