1979 Fiat Spider 2000 Value

[LukerW]

Hi from Washington State!

I have been the proud owner of a 1979 red Fiat Spider 2000 since the early 1980's. I love my car which was in excellent condition. On a scale of one to ten I'd say it was an eight. My beloved 1979 red spider was crunched in May as I was heading to the car wash to clean her up for a trip to Gig Harbor. I am now trying to establish a value on her in order to replace her with alnother Fiat Spider. We thought we had her insured for $7,500.00 fixed value and the insurance company is, as is their way, trying to give us as little as possible.

Have any of you out there had a similar experience? I need some advice on how to deal with the insurance company. Any one have any suggestions?

Thanks,

carless in Seattle

[rlux4]

Welcome to the forum Luke. Sorry to hear about the fate of your '79, to have taken such good care of her for so long and then have that happen is a tragedy.
As far as value goes, that is a topic that is usually debated on a regular basis. Those of us who own one feel that they have been traditionally undervalued. In the last year there has been an upward trend in prices that really nice models have gone for. On the other hand, there have been some that went for a bargain. I'd guess that if you were looking at a direct replacement that was rust free with low miles, excellent body, paint and interior, you could find one for under $6000. If you were to look for one diligently for a few months you would no doubt be able to find one in similar condition for $4-5000.
That's one man's opinion anyway, FWIW.
Good luck in your search,
Ron

[GOPAPA]

[quote="LukerW"]Hi from Washington State!

Hi Luke ,,I am from the state just below you and right on the Washington Oregon border . What I have noticed is that down where Ron lives in California all older cars are valued lower than up where we live .Reason is more of them down there .

Up our way they rust away and are so there are less of them , Price is higher because of it,,and another thing is convertables up here are scarce also..

So I say argue that point with the Insurance company as it is valid.. sorry to hear about your crunch ,,but if you want you can send me a message of what you are looking for and I can send you info of whats down my way for sale.. LD

[So Cal Mark]

if you search ebay and craigslist, you can find many examples with owners asking 5 figures for nice cars. I'd check some of the collector car sites, the cars tend to be priced higher there also

[mdrburchette]

Sorry to hear about your loss. Insurance companies can be a major pain, especially when dealing with older, more unique cars. Years ago, somone ran a stop light and hit my mother's 1980 Chev Monte Carlo. The car looked like it came off the showroom floor and only had 45K miles on it. The insurance company wanted to give her $700 for it. Since they are no longer required to replace the car with one in similar shape, I printed out Ebay listings and copied ads from Auto Trader to prove the car was worth more. We ended up getting $2000 for it.

[baltobernie]

What a shame, to lose a faithful companion. I hope you can find a new love.

I don't know the particulars of your transportation inventory, but if your next Spider is not your daily driver, and only sees a couple thousand miles per year, collector insurance might be worth a look. One such insurer is Hagarty, and they charge me only $162 per year for an agreed-upon value of $7500. Restrictions are few; mileage and another car in the stable, insured with a "regular" insurer. Check out Hemmings or other collector magazines for a list of insurers.

[Europa]

WOW! Bernie, thanks for sharing the information. My current insurance is with Allstate. I certainly need to switch when my current policy is up for renewal. I requested a quote from Hagarty and it was way cheaper!

[4babycar]

I too am very happy with a quote they gave me but..... Not so sound like a skeptic but does anyone have any experience with how they handle claims? I have had many-a-warranty/insurance (granted for other products) that wasn't worth the paper it was printed on, much less any extra cost or premiums that were paid for it. I would hate to have that happen to my beloved spider(s)!

[mdrburchette]

I too have Hagarty for both my 71 and 72 Spiders and Ron's Harley. For collision and liability it was cheaper than just liability on my cars but I have yet to file a claim with them, I have heard from others that they make their claims good.

[baltobernie]

Classic car enthusiasts are a pretty vocal bunch, and if an insurance company catering to their market was unacceptable, I think we'd all hear about it. I too have not filed a claim, but the enrollment process was handled very professionally, including a telephone "interview" initiated by them to confirm particulars of my application. You need to submit copies of your other insurance policies, photos of your car, etc. I bet they don't get scammed often.

Again, if your Spider is your daily driver, these companies are not for you.

[ga.spyder]

I have a friend whose street rod was totaled by someone running a stop sign.He was insured by Hagerty and the stated value was paid ,no questions asked.I have collector car insurance with State Farm.I didnt know they offered it ,but it is the same retrictions as Hagerty.My stated value is 8000 ,and premium is 170 per year.Car has to be garaged and not a daily driver, although there isnt a stated mile per year restriction. I have all my ins. with State Farm, so I felt comfortable using my local office where I know everyone on a first name basis!
Craig

[kristoj]

There are many price guides out there that you can reference as well for the insurance company. This one is free: http://www.manheimgold.com/car_lo.html. I also subscribe to http://www.carsthatmatter.com and the price guide from http://www.sportscarmarket.com.

[LukerW]

Hi,

First I want to thank all of you who have replied.......THANK YOU!

I have checked the NADA Guides on line and will check out the others that have been recommended. I'm not going to give up on reaching a fair settlement with my insurance company. I'm finding that my 1979 Fiat Spider 2000 is worth a lot more than I thought it was.

I'll let you all know the results.

Thanks again,

Wendy

[Europa]

One such insurer is Hagarty, and they charge me only $162 per year for an agreed-upon value of $7500. Restrictions are few; mileage and another car in the stable, insured with a "regular" insurer.

Bernie, wanted to follow up and say thank you. I saved a bunch of money switching to Hagerty. I can now put the money saved toward my engine rebuild.