Hagarty Merkur Article published

General discussion relating to club happenings and items related to Merkurs in general such as "Merkur sightings". If you just signed on, please feel to start a new thread and introduce yourself here. Posts specifically regarding either the XR4Ti or Scorpio should go in those specific forums. Feel free to make suggestions on improving this forum here as well.
User avatar
Merkur
Moderator
Posts: 564
Joined: Mon Jan 06, 2003 12:13 am
Location: Bergen County, NJ, USA
Contact:

Hagarty Merkur Article published

Post by Merkur » Tue Mar 05, 2019 7:14 pm

Check out the article on the Merkur XR4Ti by Hagarty - the collector car insurance people.

I'm screwed - it says I was racing my Merkur at Watkins Glen - a violation of the insurance rules. It was a driving school and anyway at the time I wasn't insured by Hagarty!

Good coverage for these cars,

Paul
Paul "the Brit" West
Oakland, NJ

User avatar
John Brennan
Level 8
Posts: 11490
Joined: Wed Jun 18, 2003 4:19 pm
Location: Scottsdale, AZ "Summer Is Coming"

Re: Hagarty Merkur Article published

Post by John Brennan » Wed Mar 06, 2019 8:21 am

One advantage of flying Merkurs is that you're generally under the radar.

Enjoyed the article. It sort of seems that the marque might finally get some of the recognition and respect it deserves. Maybe just a little bit...

"One of these days, Alice... one of these days..."
This is my car, and these are my people!
1989 XR4Ti 5-Speed
2001 BMW Z3 3.0 5-Speed
2015 Fiesta ST 6-Speed
2015 Edge 3.5 V6 Auto/Paddles

User avatar
eaton53
Level 4
Level 4
Posts: 468
Joined: Wed May 06, 2015 6:08 am
Location: Silvis, IL

Re: Hagarty Merkur Article published

Post by eaton53 » Thu Mar 07, 2019 7:19 am

Enjoyed the article. It sort of seems that the marque might finally get some of the recognition and respect it deserves. Maybe just a little bit...
"One of these days, Alice... one of these days..."
I think prices are on the up. Some cars with mechanical issues have gotten over $4K recently.
Being mostly rust free was the key to getting decent money.
You can pick up an exceptionally clean XR4Ti for about $6000
You can get an exceptionally clean one, but you aren't getting one of the best ones for $6K. That hasn't been the case for some time.
The problem is that there are so few really good ones that they almost never come up for sale.
Mark Copeland - I'm 50 miles west of Kewanee, IL

'89 XR4Ti
Car was the 2014 MCA Merkur Preservation Award Winner
I'm just the latest caretaker and I'm keepin' it REAL shiny!! 8)

User avatar
R Code
Newbie
Newbie
Posts: 26
Joined: Thu Sep 27, 2018 1:30 pm
Location: Boston Burbs

Re: Hagarty Merkur Article published

Post by R Code » Mon Mar 25, 2019 8:15 am

Thanks for posting, Paul. Way to represent Merkur and the Garden State. Love the action shots from the Glen. :cheers

In 2011, Hagerty put the XR4ti on the "endangered" list, saying they insured fewer than 25 examples. I wonder if that has changed over the past 8 years?

With the comments here re: values, I'm wondering if my pampered 37k mi car is underinsured.
- Chris

'89 XR4Ti (5 speed)
'69 Cougar XR-7 "R Code" Convertible (CJ428/Auto) SOLD 1/19
'67 Cougar Std (289/4 speed)
'66 Mustang Coupe (289/Auto) - my wife's 1st car
DD's:
'06 Silverado HD Crew
'04 Suburban
'04 Acura MDX (son # 1)

User avatar
eaton53
Level 4
Level 4
Posts: 468
Joined: Wed May 06, 2015 6:08 am
Location: Silvis, IL

Re: Hagarty Merkur Article published

Post by eaton53 » Mon Mar 25, 2019 12:35 pm

R Code wrote:
Mon Mar 25, 2019 8:15 am
In 2011, Hagerty put the XR4ti on the "endangered" list, saying they insured fewer than 25 examples. I wonder if that has changed over the past 8 years?

With the comments here re: values, I'm wondering if my pampered 37k mi car is underinsured.
There were 12 Scorpios on their 2014 list.

Some of them probably got sold. Mine was sold twice!

I don't know who the previous owners insured with, but I don't use Hagerty. Too many restrictions.
Mine's on a "Classic" Agreed Value policy with State Auto, who insures our other cars.
It's about the same price as Hagerty, but there are no restrictions at all.

I've made three towing claims on it.
Mark Copeland - I'm 50 miles west of Kewanee, IL

'89 XR4Ti
Car was the 2014 MCA Merkur Preservation Award Winner
I'm just the latest caretaker and I'm keepin' it REAL shiny!! 8)

cmouta
Level 3
Level 3
Posts: 235
Joined: Wed Mar 05, 2008 5:25 pm
Location: West Haven, CT

Re: Hagarty Merkur Article published

Post by cmouta » Wed May 01, 2019 9:14 am

eaton53 wrote:
Mon Mar 25, 2019 12:35 pm
R Code wrote:
Mon Mar 25, 2019 8:15 am
In 2011, Hagerty put the XR4ti on the "endangered" list, saying they insured fewer than 25 examples. I wonder if that has changed over the past 8 years?

With the comments here re: values, I'm wondering if my pampered 37k mi car is underinsured.
There were 12 Scorpios on their 2014 list.

Some of them probably got sold. Mine was sold twice!

I don't know who the previous owners insured with, but I don't use Hagerty. Too many restrictions.
Mine's on a "Classic" Agreed Value policy with State Auto, who insures our other cars.
It's about the same price as Hagerty, but there are no restrictions at all.

I've made three towing claims on it.
Can you elaborate on some of the more major restrictions from Hagerty? Thinking about switching to "collector car" insurance on my XR.
Chris
2013 Nero Fiat 500C Abarth
1988 Mono Rosso Red Merkur XR4Ti
1974 VW Thing
2006 Bajaj Chetak 4T w/ sidecar

User avatar
Merkur
Moderator
Posts: 564
Joined: Mon Jan 06, 2003 12:13 am
Location: Bergen County, NJ, USA
Contact:

Re: Hagarty Merkur Article published

Post by Merkur » Wed May 01, 2019 1:01 pm

Chris - I am not sure what Mark was referring to in terms of restrictions, but mine is insured with Hagerty on a Stated Value policy. The key restrictions are that the car has to have Collector or Classic car registration and that the car should only be used for driving to car shows and other show related trips. Not for running down to Home Depot.

Paul
Paul "the Brit" West
Oakland, NJ

User avatar
eaton53
Level 4
Level 4
Posts: 468
Joined: Wed May 06, 2015 6:08 am
Location: Silvis, IL

Re: Hagarty Merkur Article published

Post by eaton53 » Sun May 05, 2019 6:15 pm

Screw Hagerty and their $%^& restrictions!
I have $8200 Agreed Value, no restrictions whatsoever for less money.
Regular plates, no special registration. I can drive it just like any of my other cars.
Yes, it mostly goes to car shows. I drove it over 100 miles to one today. Car's working better than ever and I hope I didn't just jinx myself.

Inquire with your current carrier.
They may have such a policy... these things are $$$ makers for them because there are rarely ever any claims.
They have had to pay up for towing a few times. Hopefully those days are over.
Mark Copeland - I'm 50 miles west of Kewanee, IL

'89 XR4Ti
Car was the 2014 MCA Merkur Preservation Award Winner
I'm just the latest caretaker and I'm keepin' it REAL shiny!! 8)

User avatar
Merkur
Moderator
Posts: 564
Joined: Mon Jan 06, 2003 12:13 am
Location: Bergen County, NJ, USA
Contact:

Re: Hagarty Merkur Article published

Post by Merkur » Mon May 06, 2019 11:37 am

The difference is the 'Agreed Value' verses 'Stated Value' policy. Hagerty will ensure the car for whatever you state it is worth and that is what you get in the case of a total loss. No hassles.

Paul
Paul "the Brit" West
Oakland, NJ

DAReese
Level 7
Level 7
Posts: 1311
Joined: Tue Jul 17, 2012 2:36 pm
Location: North Canton, Ohio

Re: Hagarty Merkur Article published

Post by DAReese » Mon May 06, 2019 2:11 pm

An Agreed Value policy -- the same as Hagerty’s Guaranteed Value™ policy --guarantees that you will receive the full insured amount of the vehicle (with no depreciation, and including all sales taxes), in the event of a covered total loss.

In contrast, a Stated Value policy (sometimes called “stated amount” or “maximum limit of liability”) does not promise to pay the full vehicle value that’s indicated or “stated” on the policy. With regard to a covered total loss, you may receive less than that stated amount, because the insurer has the right to pay either your vehicle’s depreciated actual cash value OR the cost to replace your vehicle -- whichever is less. Also, many insurers that offer stated value policies (typically standard insurers) require periodic appraisals to affirm the insured amount, adding cost and inconvenience to the client.
David Reese

88 XR4Ti - mono white T5, someday to be bi wing
89 Scorpio - waiting on some parts before it hits the road again
88 XR4Ti - mono red C3, parts car
used to own 86 dark blue traded in on a min van, what was I thinking?

User avatar
eaton53
Level 4
Level 4
Posts: 468
Joined: Wed May 06, 2015 6:08 am
Location: Silvis, IL

Re: Hagarty Merkur Article published

Post by eaton53 » Mon May 06, 2019 9:48 pm

DAReese wrote:
Mon May 06, 2019 2:11 pm
An Agreed Value policy -- the same as Hagerty’s Guaranteed Value™ policy --guarantees that you will receive the full insured amount of the vehicle (with no depreciation, and including all sales taxes), in the event of a covered total loss.
Correct.
https://www.lloyds.com/help-and-glossar ... lue+policy
An insurance contract under which the insurer agrees to pay the insured a stated amount in the event of the total loss of the property insured without any adjustment for depreciation or appreciation.
Mark Copeland - I'm 50 miles west of Kewanee, IL

'89 XR4Ti
Car was the 2014 MCA Merkur Preservation Award Winner
I'm just the latest caretaker and I'm keepin' it REAL shiny!! 8)

GPz11
Level 6
Level 6
Posts: 822
Joined: Sun Apr 25, 2010 6:56 am
Location: Aurora, IL

Re: Hagarty Merkur Article published

Post by GPz11 » Wed May 08, 2019 11:03 pm

You might want to get your car appraised. I had mine insured for $10k and then had it appraised, came back at over $20k.

Hagerty got a call right after that to up my coverage and they got a copy of the appraisal.

User avatar
eaton53
Level 4
Level 4
Posts: 468
Joined: Wed May 06, 2015 6:08 am
Location: Silvis, IL

Re: Hagarty Merkur Article published

Post by eaton53 » Thu May 09, 2019 7:06 am

GPz11 wrote:
Wed May 08, 2019 11:03 pm
You might want to get your car appraised. I had mine insured for $10k and then had it appraised, came back at over $20k.

Hagerty got a call right after that to up my coverage and they got a copy of the appraisal.
To my knowledge, no stock XR has ever sold for even $15K.
It would be good news if that were to change, though.
Mark Copeland - I'm 50 miles west of Kewanee, IL

'89 XR4Ti
Car was the 2014 MCA Merkur Preservation Award Winner
I'm just the latest caretaker and I'm keepin' it REAL shiny!! 8)

GPz11
Level 6
Level 6
Posts: 822
Joined: Sun Apr 25, 2010 6:56 am
Location: Aurora, IL

Re: Hagarty Merkur Article published

Post by GPz11 » Thu May 09, 2019 7:50 am

My appraiser found more than one example of a Merkur XR4Ti selling for more than $15K.

User avatar
eaton53
Level 4
Level 4
Posts: 468
Joined: Wed May 06, 2015 6:08 am
Location: Silvis, IL

Re: Hagarty Merkur Article published

Post by eaton53 » Thu May 09, 2019 1:03 pm

GPz11 wrote:
Thu May 09, 2019 7:50 am
My appraiser found more than one example of a Merkur XR4Ti selling for more than $15K.
Someone should tell Hagerty.
They're still claiming that a #1 Concours XR is a $6100 car.
Mark Copeland - I'm 50 miles west of Kewanee, IL

'89 XR4Ti
Car was the 2014 MCA Merkur Preservation Award Winner
I'm just the latest caretaker and I'm keepin' it REAL shiny!! 8)

Post Reply