Need your input on value for insurance

[SomeCarGuy]

viewtopic.php?f=29&t=987

any guesses as to value?

Doesn't matter much to me what it is as long as it is reasonably close to getting another, very similar car. Biggest problem would be finding another one in Ford white LOL.

There is no way I could pull off getting another one as cheap as i did this one- to beat all, I got it after it ran on Ebay and was a no sale. In nearly this condition and with a 440 in it! I'm not spilling the beans on how much but even i can't believe it and I was there.

 

[SomeCarGuy]

Oh and I checked on getting the sticker made.

My buddy said it would have to be in layers and wouldn't be nearly as fly as the one layer deal. Said it is doable but complex.

 

[mcmopar]

Do you have any reputable appraisers in your area? I had mine appraised so that when I presented my paperwork to the insurance co. they just said "ok" and agreed on the appraised amount.

 

[SomeCarGuy]

If we had a good appraiser handy we wouldn't have to pay so much in taxes...

No really, this is the middle of nowhere, the place I keep the car that is. I just need to get it close enough that I won't have to spent another 8 years or so in search of one like it. The value on Grundys site can be changed and I noticed it change the premium quite a bite.

 

[george68hemirr]

Do you have any reputable appraisers in your area? I had mine appraised so that when I presented my paperwork to the insurance co. they just said "ok" and agreed on the appraised amount.

what he said.....have all your reciepts for all parts and labor....i made up a book with parts and labor printed out with prices....had all the reciepts in a box....i think i paid the guy....$125.00.....he prints up a certified stamped letter with you show to the insurance guy for the agreed value.....we are talking about your car...right??

 

[moparstuart]

i'd say just get an agreed value policy for 25k , that should allow you to replace the car .

 

[mcmopar]

A good rule of thumb would be to factor in the cost of the car initially (what you paid for it and when). Then add 3% per year for appreciation (a fairly standard appreciation in the insurance industry) for the years you have owned it. Then add the cost of parts and labor if someone else did the work - parts only if you did the work. Add all that up and you have the value of your car - unless you paid an unusually low price to purchase the car.
Just to give you an idea where to place yours - I bought mine back in June, 2000 for $8000. I then did some clean up work to it and had it appraised later that year and it was valued at $9800. I then replaced the interior, repainted the engine, rebuilt the front suspension, added the tires, wheels and a/c system (when I got the car back it had been removed - I went for the Classic Auto Air conversion) and did a lot of other mechanical work. When I had it appraised again in 2004 (by the same appraiser) it was valued at $24,800 and now due to appreciation it is up around $27,000-$28,000. It is rated as a #2 driver but is not numbers matching and is slightly modified.

 

[69hemibeep]

I know with American Collectors I throw them a number and a picture and they take care of it. I imagine if you give them an outrageous number a red flag would go up

 

[ACME A12]

I know with American Collectors I throw them a number and a picture and they take care of it. I imagine if you give them an outrageous number a red flag would go up

Same scenario for me - I use Midwest Classic Auto Insurance out of Illinois... They check comparable cars just to be certain that your number is in the ballpark...even called me up last year and voluntarily cranked the number up on the Swinger after I had made some improvements the previous winter...

Ray

 

[Basketcase]

that almost sounds word for word for my car. mine came from e bay. I hadn't bid on it(pics showed red velour inserts on the seats, went REAL well with the yellow..insert barfing smiley.....) but I had email the seller a question. by the time I saw it, I had been looking every waking moment for another runner after the fire. In fact my 14 year old was on ebay even before the fire trucks got here. I had to tell her not to bother with listings that included HEMI......
The seller contacted me after the winner had backed out. It has all new interior,rebuilt 383. Solid car, needs new 1/4s. Got a really good deal I feel. I got caught with my paints down as far as insurance on the other car. The homeowners gave me enough to cover a new building and get the yellow car. This one had been appraised a couple years before I got it for $11,0000. I gave Hagerty a call. All I had to do was send them pics and a copy of the appraisal(I think), and got an agreed value of $25,000.
BTW...what year is that shifter...I like it!

 

[SomeCarGuy]

Shifter is a newer comp plus model. I got it back about 2004 or so.

I'll run the simulation again and see what 25K will cost me. I can't use what i paid for it as any sort of guide. And honestly, the seat cover, tires and battery are all the "real" money i have in it.

The paint looks good but it has flaws and some small bubbles at the door edges and right over the rear wheels.

I was thinking more like 12,500 to 15K so...

 

[SomeCarGuy]

It actually looks like I just need to drop the liability during the winter and keep the comp on it. Looks to be cheaper than the collectors coverage that way and zero hoops.

 

[69hemibeep]

It actually looks like I just need to drop the liability during the winter and keep the comp on it. Looks to be cheaper than the collectors coverage that way and zero hoops.

Just remember if you don't get an Agreed value policy, its just an old car to them thats over insured and you will not get a good settlement, it will be devalued and totalled even with a stated policy.

 

[Basketcase]

well don't sell yourself short. My paint looks Ok from 20 feet or more. whoever painted it didn't waist much time sanding it. $25,000 gets me $500 in parts coverage,about $250 a year. It was around $175, but I got their road service, the top one. It is good for 125 miles,three times a year, on every car I own. don't let bad paint or torn seats make you think you car isn't worth much. Just troll e bay to see what these are going for, and in worse shape than ours.

 

[mcmopar]

It actually looks like I just need to drop the liability during the winter and keep the comp on it. Looks to be cheaper than the collectors coverage that way and zero hoops.

Just remember if you don't get an Agreed value policy, its just an old car to them thats over insured and you will not get a good settlement, it will be devalued and totalled even with a stated policy.

Agreed. Get an Agreed Value Policy or you will get hosed in the event of a loss. I pay less than $300 a year on mine.

 

[moparstuart]

It actually looks like I just need to drop the liability during the winter and keep the comp on it. Looks to be cheaper than the collectors coverage that way and zero hoops.

Just remember if you don't get an Agreed value policy, its just an old car to them thats over insured and you will not get a good settlement, it will be devalued and totalled even with a stated policy.

my buddy did that and when his 10k dodge truck got stolen they only paid out 1k on it because it was just an old truck
farmers screwed him hard after taking his money for the last 15 years . get an agreed value policy :yesnod: :yesnod: :yesnod: :yesnod: :yesnod: :yesnod: :yesnod:

 

[69hemibeep]

An Agreed value policy is about $150. a year on $25000. coverage, its cheap. :cents:

 

[CWR]

Here in Canada........I'm with State Farm........appraised value is $ 38000........That is insured value........They didn't even want yo look at the car. $188 for 6 mos and then i'll reduce it to fire and theft in the 6 months of winter we have

 

[SomeCarGuy]

An Agreed value policy is about $150. a year on $25000. coverage, its cheap. :cents:

Who sells that policy that cheap? I put in that it is modifed becasue of the headers and intake. OEM cars are cheaper.

I'm not seeing anything that cheap so far.

 

[mcmopar]

I just got my renewal from Grundy in the mail. Here are the details:
Agreed Value: $27,500
Liability: $500,000 ... $35 Premium
Medical Payments: N/A ... (may have to look into that)
Personal Injury Protection: ... Included
Uninsured Motorist: $50,000 ... Included
Underinsured Motorist: $50,000 ... Included
Coverage Other Than Collision: Limit $27,500 ... $96.25 Premium
Coverage Collission: Limit $27,500 ... $82.50 Premium

Total Due with State of FL taxes ($2.14): $215.89 annual premium.

CWR - that insured value insurance isn't what it seems. You may have a rude awakening if you ever suffer a loss. I've heard horror stories about insurers jerking people around and then paying pennies on the dollar for settlement. Get Haggerty, Grundy or some other Agreed Value Policy. There is no quibbling over condition, etc with the Agreed Value policy.