Insurance Values

[COPOL89]

PANTERA HAS SOME REASONABLE THINKING. THE INSURANCE COMPANYS HAVE DIFFERENT COVERAGES FOR DIFFERENT THINGS. MY OPINION WOULD BE TO ADD UP YOUR TOTAL REPLACEMENT COSTS AND GET A COLLECTOR CAR POLICY FOR JUST WHAT YOU FEEL YOU NEED IF ITS AVAILABLE UP WHERE YOU ARE, I WOULD NOT INCLUDE YOUR LABOR IN THE TOTAL COSTS IF YOU AND YOUR SON DID MOST OF THE LABOR YOURSELF, EVEN IF THE CAR WAS A REAL YENKO OR JUST A SMALL BLOCK NOVA THE INSURANCE COMPANYS DON'T REALLY CARE THEY WILL WRITE A POLICY FOR A DOLLAR AMOUNT, FOR EXAMPLE 14.00 PER EVERY THOUSAND THE CAR IS WORTH. A 15,000 DOLLAR POLICY WOULD COST AROUND 200-250 DOLLAR EVERY 6 MONTHS. BUT THERE ARE LIMITATIONS WITH THESE POLICYS SUCH AS MILAGE RESTRICTIONS AND THEY MUST BE STORED IN A LOCKED GARAGE AND THEY HAVE TO BE APPRAISED BY A REPUTABLE SOURCE. TALK TO ONE OF YOUR LOCAL AGENTS AND PICK A POLICY THAT YOU ARE COMFORTABLE WITH. [img]/ubbthreads/images/graemlins/burnout.gif[/img]

[JRSully]

Myself being in the insurance business, I can tell you the following;
1. Any carrier you go to will simply look in thier database of currently insured vehicles that are very similar to yours to determine the max limit they will offer. The
bigger the carrier (more vehicles insured)the better chance you have getting a "realistic" limit, appraisals help, but are not always the deciding factor.
2. Claims- Theft/Damage- 99% of the carreirs writing collector car insurance allow for occasional pleasure use, BUT if you park the car somewhere (except for car shows or parades)and the car is stolen or damaged the first question most carriers ask you is "was the car in your direct view when the damage was one/when theft took place" if you say "NO" this could open the door to them denying the claim. As some policies state that the car is not to leave your care, custody or control, except parades, car shows. BE CAREFUL. Any other questions, give me a shout.