Insurance value?
Thread Starter
Heel & Toe
Joined: Jun 2005
Posts: 18
Likes: 0
From: S Burlington Vermont
Insurance value?
When dad passed away 2 years ago he had his '64 vert insured for $25K through Hagerty. Now that mom is taking care of it I want to make sure it's not under-insured. I don't keep up to date on Corvette values like I do my Mustang.
Anyway, This is a one owner car. Still has the origianl paint, rebuilt 327/250, 4 speed. Not a show car by any means but a very well maintained driver. Mileage?? well over 100K but who knows, the odometer broke at 43K.
Any ideas?
Rick
Anyway, This is a one owner car. Still has the origianl paint, rebuilt 327/250, 4 speed. Not a show car by any means but a very well maintained driver. Mileage?? well over 100K but who knows, the odometer broke at 43K.
Any ideas?
Rick
Melting Slicks
Joined: Dec 2002
Posts: 2,390
Likes: 315
From: Belmont Michigan
I would just insure it for whatever you are more comfortable with. $30-35,000? Maybe more? $25,000 is definately low. I usually up the amounts on all three of my cars once a year. It is not that much per thousand, and it gives me peace of mind. Of course, I drive all of them, too. Hagarty is pretty good about just upping the insured amount. At most they would just want some current pictures.
Rich
Rich
Racer
Joined: Apr 2003
Posts: 370
Likes: 22
From: Morrill NE
NADA lists the average retail value at $35,000. I would insure it for that at least. I don't think the insurance company would argue with that at all. As Midshark says, the extra coverage isn't all that much. I would guess the actual value of the car to be about $35K. First of all, the 64's are the least desireable of the midyears, particularly the 250 hp 327. On the plus side, it is an original car with what I assume is the original drivetrain. This will add to the value of the car.
Cheers
Steve
Cheers
Steve
