Insurance Revaluation

[Nickodell]

I just had my insurance coverage for Matilda upped to a declared value of $9,000. I had had it at $6,000 for years and found that, under my insurance company's "Limited Use, Antiques and Classics" classification it would only cost an extra $5 a year. They required 4 photos (front, side, rear and interior), continuing the annual odometer picture to verify no more than 3,000 miles per year, and the continued stipulation of no commuting. (Since my office is in the basement, that isn't a hardship).

 

[65beam]

insurance

nick,

this is a rather low declared value considering the cost of body work today.plus the cost to buy body panels .

 

[serIIalpine]

I valued my series 2 at $10K an that was with no interior. My coverage costs my $99 a year for full coverage as it is not my only car.

Think of it this way: Yesterday a flat (wall from a set) that had been leaning against a building blew over and dented my right front fender.

The studio is looking at a $3-4k repair bill as my body is the early seamless type and I want it to look as it did before the accident.

A real accident with thousands in bodywork would easily total your car.

A theft claim wouldn't even come close to replacement value.

Eric

'62 SerII

 

[Nickodell]

Maybe I'll up it again next year. State Farm has all my insurance, except business liability, and I think I'm close to the max that they would go for this car because it's not in their normal experience. Maybe I'll look into one of the companies that specializes in antiques and classics.

 

[Pumpkin]

insurance

Maybe I'll up it again next year. State Farm has all my insurance, except business liability, and I think I'm close to the max that they would go for this car because it's not in their normal experience. Maybe I'll look into one of the companies that specializes in antiques and classics.

I too have State Farm,, and when I first got the car, I had 9K on it with the shows etc. Now after reading what all you have said, I will have it re-evaluated. I had one well known Sunbeam guy here in the NW say mine would be valued at @ 15.5-18K . At that time I ask the company for a re value, they indicated that I should have an inspection from a real valuator and they would adjust it.. Cost was about 200 bucks for the looksee. At the time That was too much,, But lads and ladies I best re think it.

Even though we all think we are insurance poor, ? I know there are several insurance guys out there ,,,any one?
Chuck in Portland, Orgy

 

[65beam]

insurance

we have our insurance with hagerty.on one policy we have four cars with a combined agreed value of 65000.the 69 has a very low value at this time due to it being a bare shell setting in a body shop.we used state farm and others years ago but when you compare coverages you find that companies such as hagerty ,j c taylor,etc look at the cars in a different viewpoint than companies like state farm.we found this out a few years back when four of my beams on a policy with j.c.taylor were stored in a garage at a rental we have here in town.being in a flood plain near the river the flood wall around that area broke after 9" of rain fell in one day.the garage just happened to be about 500' from the break and also the highest point in the subdivision.one call to taylor's and i was told to get estimates and it was handled up to the declared value.companies such as hagerty,j.c.taylor,etc are geared up to the collector car world and understand why we own these cars.not the same with your normal company like state farm,nationwide or whoever.do yourself a favor and check into these companies and protect your beams if a loss occurs.