Hagarty Merkur Article published

[Merkur]

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

[John Brennan]

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..."

[eaton53]

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.

[R Code]

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

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.

[eaton53]

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.

[cmouta]

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.

[Merkur]

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

[eaton53]

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.

[Merkur]

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

[DAReese]

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.

[eaton53]

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.

[GPz11]

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.

[eaton53]

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.

[GPz11]

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

[eaton53]

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.