「對保險公司來說，最具挑戰性的是它們不懂得如何去為一部經典車評估價值，保險公司怕估價錯誤，恐怕開了錯的保單，做了蝕本生意。其實只要估價夠準確，對受保人和保險公司來說，都是非常重要的事。」
Published in June 2019 Classic & Sports Car Magazine | Written by Kenneth E Y Wong
KENNETH WONG 黃恩揚- Classic insider 創辦人，經營高級經典及跑車買賣。對處理高檔車種擁有豐富經驗。曾是香港首間經典車拍賣行的營運總監。經常參與高端古董及跑車的相關活動，貼近市場脈搏
經典車要在香港出保險絕不容易，以往做經典車保險的都是較小型的保險公司。看看現今的國際市場，經典車其實是盤很大的生意，但香港很多配套並不充足。如在香港想為經典車買「全保」，相信沒有公司會跟你做這盤生意，頂多只肯出「第三保」。保險公司一般聽到車齡20 年或以上，還要加特別高的額外費用，某些更只保障「有落名」的駕駛者，買保險買得好像被罰一樣。
香港的保險公司確實忽略了經典車市場潛力高跟當中蘊藏的機會。經典車並不只是老人家才喜歡，現有不少年輕人加入，很多新晉經典車擁有者更成為收藏家。除了復古之外，年輕人買經典車還有其他原因，他們不多不少都追求經典車那種機械性。他們活在現今的數碼世界，有時也想感受一下昔日那些較類比（analog）的設計。
經典車其實是種保值，甚至升價的產物，歐美收藏家則明白這一點，較出名的公司如 Hagerty，它們獲得很多經典車收藏家的生意。Hagerty 會跟車主先為經典車的價值達成共識，雙方認同後，就因應這個價錢去開出保費。根據這方法，在美國一部中級古董車，一年保費大概是400 美元，折合約3,000 港元吧。這價錢，跟香港出三保的保費差不多，但以美國的玩車標準來看，這個價錢實在算是便宜了！
外國的保費何以較便宜？這是因為保險公司知道這些經典車不是每天日用，大多數車主都把它們用心保存，只是周末天氣好時才會開出來，因此經典車的風險，比每天使用的汽車低很多。再者，經典車跟新車的用法不同，前者用得少，而且使用的駕駛者永遠總是那幾個人。萬一經典車不幸出事，賠償額其實亦一早由保險公司和車主達成共識，不用周旋。在車主投保前，他們會請專家評估一下車輛的價值，只因專家對市場和經典車較熟悉，能有效地協助保險公司進行價值評估。
另外，我想談一談保費對汽車貸款的影響。很多貸款公司要求經典車擁有「全保」才批出貸款，若沒有「全保」，那部經典車就無法「上會」。為何香港擁有非常具潛力的經典車市場，但保險公司卻不願意出「全保」呢？
對保險公司來說，最具挑戰性的是它們不懂得如何去為一部經典車評估價值，保險公司怕估價錯誤，恐怕開了錯的保單，做了蝕本生意。其實只要估價夠準確，對受保人和保險公司來說，都是非常重要的事。因受保人要給保費，還有保單值多少錢、出意外後怎樣賠，這些對車主來說都很重要，大家亦希望得出這部經典車值多少錢。
得出一部經典車的價值，讓他們清楚自己那部車值多少錢；同一時間，這價錢給了銀行一個指標，根據保費而讓經典車辦「上會」手續，讓大家都不用再迷失。怎樣評價一部經典車的價值？這涉及很多因素，好像該經典車的品牌、型號、年份、狀態、行車里數、產量和保養紀錄。然後就是看市場對這部經典車的需求，以及市場估價等。
第一個方法，是在網上留意相近年份和狀態的經典車放盤叫價多少。現在甚麼也能在網上辦妥，但大家要留意網上顯示的是「叫價」，並不等於成交價，兩者可以相差很遠，故只可作參考而已。
第二個辦法是參考拍賣會的成交價，但由於這些拍賣會多數在外國舉行，要查清楚該車是左軚還是右軚，還要留意當地稅項、保費和拍賣行收取的佣金，得出來的實際價錢跟香港的其實差距很大。
第三個辦法是聘請古董車專家去估價。這些專家知道經典車值多少錢，更熟悉市場大趨勢。不過，諮詢古董車專家意見，當然也要付錢，但至少獲得的意見是專業和可靠的。
上述的估價法各有好壞，我認為最好是將所有方法整合，得出一個經濟效益最好的方法。最後，我想跟正在看這篇文章的保險公司管理階層說，在商業社會裏，誰人「行得快就好世界」，大家不妨考慮做古董車這門生意吧！
Classic cars are all the rage at the moment. Once a niche market for specialty insurance brokers, the collector car industry has now turned into big business in the insurance world, but not in Hong Kong. Requests from many classic car owners to obtain comprehensive insurance for their beloved classics were turned down and all they could get is the bare minimal 3rd party insurance. To make matter worst, most insurance company in Hong Kong add extra loading, extraordinary deductibles and strict named driver policy for classic cars, further penalising the owners.
Are insurance companies missing out on a huge and growing opportunity? Let’s dive into this topic today.
Classic cars are not just loved by older collector who are after the nostalgia, the market has seen a surge in the number of younger owner of classics. Other than nostalgia, the younger owners buy classic car for other reasons as well. For some, it’s less about nostalgia but driven more by a need for a more mechanical and analogue experience. It’s a bit like the craft beer revolution and people collecting vinyl records and vintage watches. Young people have grown up in a digitally saturated environment and collecting classic cars is a cool way to escape from that. This group of enthusiast is growing fast.
A collector car is a vehicle that can hold its value or appreciate over time. Collectors in Europe and North America understand that, and are turning to expertise insurers like Hagerty to keep their favourite asset covered. Hagerty’s collector car insurance policies run on an agreed value system, when they write the policy, they will agree upon a total value given to them by the owner.
In the US, the average annual classic car policy at Hagerty is about $400 USD – less than most standard auto policies. Collector car policies often only cover the vehicle for pleasure-use and not for regular commuting or school-runs. Premiums for low usage are cheaper because the risk is generally lower and the expectations of use are different.
In the event of a total loss to that vehicle, there will not be any negotiation over the pay-out. If there are any concerns about the value of the vehicle, they hire classic car experts who can go out and make a valuation assessment. It takes a lot of experience to determine the correct policy for a really special car, classic car experts spend a lot of time analysing auctions and private sale results to see what’s hot in the market and what sort of price vehicles are being traded for.
Financing companies and banks requires Insurance companies to provide comprehensive insurance in order for them to approval a loan on a vehicle. There certainly will be a lot of demand for comprehensive insurance if a classic car can be financed.
What’s the hold back? Determining Value of a Classic
Determining the accurate value of a classic automobile can be challenging as no two cars are the same. Insurance companies here in Hong Kong are afraid of making the wrong valuation on a classic, hence they shy away from insuring them.
It is important to get an accurate valuation as this is crucial information for both the insurer and the owner. They will both want an accurate figure so that a fair sum can be agreed upon. In addition to this, owners of classic cars may want to know the value of their car simply for their own knowledge. Banks and Financing company would base their loan on the insured value of the car as well.
So how to determine the value of a classic?
A car’s value is determined by a number of factors and some of these have more of an impact than others. The main factors that influence value include brand, model, year, condition, mileage, rarity and service history. Other factors to consider include demand, history, previous owners, market value and specification.
There are a few ways to determine the value and it is worth using a few different methods to come to a fair figure.
1) Online/ Printed Classified Ads
The most common method is to search the classifieds for people selling the same make, model and year. Ideally, it will be similar in condition and mileage. This used to be a time-consuming task flicking through the newspaper, used car classified magazines but fortunately, it is much easier now as there are classified websites where you can search directly for the car. Whilst classifieds can be helpful, you also need to consider that, those are “asking price” which could be far from the transaction price. Basically your car is different to theirs and you do not know how they arrived at the listed price.
2) Auction Results
Another way to assess vehicle value is by looking at various auction results for a similar vehicle to yours. Please do note that those published results usually includes a hefty commission or premium which the auction houses charges the buyer and seller. Therefore the real value could be up to 20% lower. Moreover, you have to consider local market difference such as Left or Right hand drive, Import and registration tax etc.
3) Industry Professionals
There are some trusted industry professionals such as myself who can determine the value of the automobile. This is a great method, but you may have to pay to use their service.
These are the main methods to value an automobile. Each has their own benefits and drawbacks, so for the best results, it is worth using a combination and coming to an average figure.
In the world of business, there is always a “First mover’s advantage”, if you are in a position to act upon an opportunity, you should.
