What Should I Insure It For Now??

[Viet Nam Vett]

Started thinking about this the other day. After the work is done I'll have a 65 Corvette with a complete Frame rebuild and a Keisler 5 speed and a 502 BB. The Body and paint are about a 95 0n a scale of 100.

What should I insure this car for now?? Those of you who have moded your vette's...How much more did you insure your car For?

How About it Bob?? What did you insure yor Heaven for?

 

[Sting Ray]

Mark,

I would insure it for the worth of the car plus the mods, my only question is whom do you have insurance through? If you have classic, the engine mods might cost you dearly with the increased premiums.

Tom M

 

[Viet Nam Vett]

Mark,

I would insure it for the worth of the car plus the mods, my only question is whom do you have insurance through? If you have classic, the engine mods might cost you dearly with the increased premiums.

Tom M

The car has Classic Insurance now. Why would the engine mods cost me dearly?? What about the BB 427 Guys?? How much more do you pay for BB Vs SB.

I think it's more the Value of the car with options and numbers then a HP thing.
Now if it was regular good old car insurance and you told them you have 502 HP in your Chevy Vega....I think then you would have a problem.

 

[srs244]

try a haggarty insurance rep if you have one in your area (if you aren't going to be using the car as a daily driver). if you can't find a local rep, you can find their ads in hemmings and maybe even on the barrett-jackson auction site as they are one of their primary sponsors. they are very liberal regarding number of miles driven in a calender year (not just the standard 2500 or less miles). additionally they are set up to give you a really good value "range" for your car when you explain the changes made to it. if you are going to use it as a daily driver, the only company i could find (in south florida at least) that would give me stated value on both my daily drivers (78 pace car and 71 454 el camino) was progressive. everyone else tries to solicite my business, but the minute i ask if they will issue a policy with stated value, they put their tails between their legs and run like hell.

 

[ctjackster]

you mean "agreed value" . . . .

 

[Billybeau1]

you mean "agreed value" . . . .

Oh no here we go again We beat this to death not too long ago

Since its not driven yet, You should pick your price and get fire and theft only. Hold off on the liability until your ready to drive her. American Collectors Ins in NJ will insure for agreed value.

 

[allcoupedup]

I'd insure it for what it would cost to replace it. Figure 30K+ for a nice "core" w/solid frame + all your mods.

I'd also throw a few thousand in for pain and suffering if by some chance it did actually get totalled.


Brian

 

[IH2LOSE]

you mean "agreed value" . . . .

Did some one mention Agreed value?


Anyways I am not sure who you are underwritten by now.But for sure not all underwrighters will insure a modified collector car. I think leyland west and hagerty will write you an Agreed value policy.

As for a SB or a BB car the underwrighter dont look at it like that,The cost of a policy on a standard collector car is based on Value only.

they flat out ask you has the original horse power rate been changed.Is the car still the same as it left the factory and both of them you have to answer.

In your case I would suggest talking with hagerty.As for what your value is ,I would suggest looking for the average sales price of a simular car is.

Good Luck

 

[Sting Ray]

Mark,

A friend of mine with Haggerty put a blower motor in Chevelle, and his premium doubled, then it becomes what they consider a modified street rod, he had to have it appraised and re-inspected also before they hammered him, that is why I asked.

Tom M

 

[Viet Nam Vett]

Mark,

A friend of mine with Haggerty put a blower motor in Chevelle, and his premium doubled, then it becomes what they consider a modified street rod, he had to have it appraised and re-inspected also before they hammered him, that is why I asked.

Tom M

Ok Tom,
I undestand. Now ...This Thread Is NOT ABOUT AGREED Vs STATED... I don't want to start that up... :L Last time that thread grew a Monster Head...:W

My car is now under Classic Insurance and is Insured for Around $30K. I don't have Hagerty now but I will call them as well as a few other Classic insurance Companies to get a rate on.....(And this is what I will tell them) A 65 Corvette with a GM Crate Motor and freshly rebuilt frame.

Ahhhhhh..Ok..I'd like to insure my car for $50,000.00 ....What do you think they'll say.......Ok There Mr. VNV that'll be $400.00 a year with no milage limitations Full coverage with "AGREED VALUE".......

Well thank you there Mr Insurance guy.....:L

 

[ctjackster]

Ok Tom,
I undestand. Now ...This Thread Is NOT ABOUT AGREED Vs STATED... I don't want to start that up... :L Last time that thread grew a Monster Head...:W

My car is now under Classic Insurance and is Insured for Around $30K. I don't have Hagerty now but I will call them as well as a few other Classic insurance Companies to get a rate on.....(And this is what I will tell them) A 65 Corvette with a GM Crate Motor and freshly rebuilt frame.

Ahhhhhh..Ok..I'd like to insure my car for $50,000.00 ....What do you think they'll say.......Ok There Mr. VNV that'll be $400.00 a year with no milage limitations Full coverage with "AGREED VALUE".......

Well thank you there Mr Insurance guy.....:L

ahhh, my 65 is insured for $50K AV with Haggerty, for less than $400 / yr, and no mileage limitations, actually . . .

 

[c5vetter]

Markie,

just get one of "NCRS" friends to appraise "THUNDER CHICKEN" and be done with it

 

[Viet Nam Vett]

ahhh, my 65 is insured for $50K AV with Haggerty, for less than $400 / yr, and no mileage limitations, actually . . .

Yeah...What I'm looking for..!!! Thanks....

 

[Viet Nam Vett]

Markie,

just get one of "NCRS" friends to appraise "THUNDER CHICKEN" and be done with it

:L :L

 

[BarryK]

ok, i've been hearing references to Thunderchicken since you joined the forum. What is she?

 

[Viet Nam Vett]

ok, i've been hearing references to Thunderchicken since you joined the forum. What is she?

 

[BarryK]

cool

 

[67HEAVEN]

How About it Bob?? What did you insure yor Heaven for?

My official appraisal is next week. 'Til then, it's only covered for $50K.

 

[Viet Nam Vett]

My official appraisal is next week. 'Til then, it's only covered for $50K.

Would that be Hagerty??

 

[67HEAVEN]

Would that be Hagerty??

No. They don't operate in Canada. And, before anyone asks, the actual appraisal will be between me and The Accountant (that's the Mrs., folks).
:gap