Insuring Value
Thread Starter
Melting Slicks
Joined: Oct 2004
Posts: 3,345
Likes: 87
From: Northern MN
St. Jude Donor '13-'14-'15-'16-'17
Insuring Value
Will ask here on what the right amount of insurance would be on my car. It is a (N)ot (C)orrectly (R)estored (S)tingray. Has the original motor (427/390) with minor mods. Trans is 66 but not original to this car. Bolt on wheels. Original side pipe car, has J56 power brake option and teak wheel (original). I am currently carrying 50K on the unit. Is that about the current value on a car like this? The car is a driver, definitely not a show car. Needs work underneath and some in the interior. In fact a good frame off is really what it needs. Any thoughts would be appreciated.
Steve
Steve
Race Director
Joined: Jan 2003
Posts: 17,659
Likes: 3,666
From: Central Arkansas
Sounds like $50k is slightly on the low side of a reasonable range. You may have to have an appraisal to get much more coverage and then there should be no argument by your insurance company.
Melting Slicks
Joined: Nov 2004
Posts: 2,302
Likes: 26
From: Cave Creek AZ
IMHO, I would insure it for what it would cost to replace it instead of what you think is is worth. I have my NOM, non-matching numbers 67 Coupe insured for $85,000 with Hagerty and never had to send them an appraisal. It is time for me to renew in November and Hagerty has suggested I up the agreed value to $90,000 (only a small premium increase). To be honest if my car were stolen or totaled, I am not sure I could replace what I have for $90,000.
Roy
Roy
Drifting
Joined: Jul 2005
Posts: 1,977
Likes: 194
From: Putnam Valley, New York. Amateur Radio Operator K2NS
Insurance
My 67/435HP roadster is currently insured with Grundy for $80K. It's cracked, scratched, and has the wrong engine, trans, and rear end. Nothing is original, but it is an original Big Block car. I've had it since 1974, and nobody was making big block cars out of small block cars back then. Being that restored original 67 435HP cars are going for over 200K, I don't think my 80K is enough to replace mine. I might increase it to 100K just to be safe.
RON
Thread Starter
Melting Slicks
Joined: Oct 2004
Posts: 3,345
Likes: 87
From: Northern MN
St. Jude Donor '13-'14-'15-'16-'17
Thanks for the replies. I thought I might be a little light on the coverage but I didn't think I was 30K to 35K light. Maybe I better think about having someone look at it to give me an opinion. I thought somewhere between 65K and 75K would be about right.
Steve
Steve
Le Mans Master
Joined: Dec 2004
Posts: 5,365
Likes: 7
From: Parkland Florida
St. Jude Co-Organizer
St. Jude Donor '05-'06-'07-'08-'09-'10-'11-'12-'13-'14-'15-'16
Yep, 66 nos match also with Grundy 80K. Car is restored and although it's a driver it's an 8+ outta 10
