Insurance Inquiry

BAD67FUN · Mar 26, 2004

Now before anybody tries to interpret an effort on my behalf to mask intentions of selling my car by asking about Insurance..... NO, I said NO, I am not, and have no intentions of EVER selling my ride. Period. And no, I don't believe some dude is gonna walk up to me and drop 20k cash in my lap for an offer I can't refuse.

So to the subject. I'm going to call Hagerty for a quote. I understand that they make you assess the value of your own car and then figure that number into the quote.

So how do I figure out how much my car is worth? With all the crazy Schlitz going on for 67/8 fastbacks, it's hard to gauge. I bought mine four years ago for $6k. It's a 67 fastback from Cali. The car is rock solid, in and out. Complete. No rust anywhere. The previous owner painted it years ago. Nothing special. The car is not original. I'm gladly taking it down the restomod trail. The engine isn't special, and is currently stuck with a C4. It's not a GT. It has a ton of suspension stuff. The rear is being rebuilt. Vintage wheels, and big Baers going on at all four corners.

So should I estimate the value as to how much I've spent? How much I think it's worth? How much someone would pay for it?

No clue...

dolfan87 · Mar 26, 2004

$15,500 minimum.

You have to asses it as if you were to lose the car, and had to replace it.

Cover your butt...even go a little overboard. With those cars getting so hard to find, what would you have to spend to get one in the same shape as yours? These aren't new Mustangs that you can just go replace.

My car isn't even finished yet, but I went down and talked to my agent, and he added a $30,000.00 fire and theft policy (just to cover parts if something should happen) to my insurance package. He them told me the minute my car is complete, get the appraiser out here pronto, so we can raise the value to the correct level.

Sorry for the long post, it's just that I have been broken into a couple times here, and dealing with the insurance company has become a big part of my life.

87

thehueypilot · Mar 26, 2004

I have spent a small "third world" county amount on my car. I did all the work myself so I have a lot of time and money invested in it. I have a major problem with car insurance. If I give them a lot of money to insure my car they are happy until the day comes to make a claim then watch out. I built the car from scratch so I figure I can do it again if I total it and use the money I saved by not having special insurance on it. If you ever had to try and collect money from another insurance company because you have fancy new rims they will only pay for stock bare bones value. I figure if I ever total my car and I am still alive afterwards it could be Gods way of telling you to start a new project!

68GEETEE · Mar 26, 2004

coincidentally I did a search tonite on ebay for fastbacks, they are bringing REAL good money. Insure it for at least 20K, they are gonna fight you on a claim no matter what, so start high.

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