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Upped my insurance coverage
#1
I have American Collectors Insurance, which covers the car for a preset value.
Now that it's driving I raised my coverage to $10,500 due to engine and other improvements. Asking if I am OK or TOO LOW on value on AVERAGE?

Alan L

[Image: 1_30_09_13_10_12_32.png]
Alan L
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#2
not2old;25147 Wrote:I have American Collectors Insurance, which covers the car for a preset value.
Now that it's driving I raised my coverage to $10,500 due to engine and other improvements. Asking if I am OK or TOO LOW on value on AVERAGE?

Alan L

Alan I would say that you are a little on the low side for replacement of a good clean driver. If you look on the internet I think that you'll find that if you were trying to replace your ride you would be looking at $15K and above.
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#3
We have ACI set at 14K for the Mach 1...

[Image: 1gq8uo.png]
1971 Mach 1 - 306cid/C4 Bright Yellow
"Just relax, I've got a friend named Felix who can fix anything!" ~James Bond
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#4
I have 15'000 on mine and its in the build stage still. It is only 155.00 a year and is no argument type.
not2old;25147 Wrote:I have American Collectors Insurance, which covers the car for a preset value.
Now that it's driving I raised my coverage to $10,500 due to engine and other improvements. Asking if I am OK or TOO LOW on value on AVERAGE?

Alan L

The question is can you replace it for that?
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#5
A LONG TIME AGO I POSTED A THREAD ON OTHER VEHICLES ABOUT MY LAST PROJECT. IT WAS A 67 CAMARO THAT WE REBUILT FOR THE SONINLAW. ANYHOW HAGGERTY APPRAISED IT AND VALUED IT AT 28000.00. FOR ABOUT 225.00 A YEAR AND IT WAS A PIECE OF CRAP BESIDE SOME OF YOU GUYS CARS. THATS A COMPLIMENT BOYS..... AT THE FORD SWAPMEET IN COLUMBUS OH. THIS SPRING THER WAS A INS COMPAMY THERE AND THEY HAD 2 PICS OF CARS THEY INSURED WHICH WERE OUR CARS AND THEY WERE COVERED FOR 35 AND 40000.00. ROY YOU ARE WAY LOW....
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#6
Way low ..

[Image: 20r9ylt.jpg]
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#7
PAPPY HAROLD;25204 Wrote:A LONG TIME AGO I POSTED A THREAD ON OTHER VEHICLES ABOUT MY LAST PROJECT. IT WAS A 67 CAMARO THAT WE REBUILT FOR THE SONINLAW. ANYHOW HAGGERTY APPRAISED IT AND VALUED IT AT 28000.00. FOR ABOUT 225.00 A YEAR AND IT WAS A PIECE OF CRAP BESIDE SOME OF YOU GUYS CARS. THATS A COMPLIMENT BOYS..... AT THE FORD SWAPMEET IN COLUMBUS OH. THIS SPRING THER WAS A INS COMPAMY THERE AND THEY HAD 2 PICS OF CARS THEY INSURED WHICH WERE OUR CARS AND THEY WERE COVERED FOR 35 AND 40000.00. ROY YOU ARE WAY LOW....

Not updated it yetSad but might need to soon
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#8
Sounds a little low, I would bump it up if the premium is not too much.



Mike AKA Ole Pony & Rare Pony

Our current Mustang garage/driveway
1973 Mustang Convert - Bought in 1974 - Still have it!
2004 Mach 1 Oxford White Auto, Bought Sept 06


[Image: 20180127_082009.jpg]

upload a photo on internet




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#9
Think about what it would cost to replace your car exactly. I have American National Classic Insurance and they required an appraiser to evaluate the car once I stated that I wanted to insure it for more than 20K. The appraiser evaluated my car based on condition, upgrades (drivetrain), and options. He then supplied the insurance company with an amount that he felt it would take to replace my car with an identical car. He told the insurance company that it would cost 30K to replace. I do not have anywhere near that much invested in my car, but he stated that it would be very hard to find a 73 convertible in the condition that mine is in. My car still has the original white paint under the carpet (New Mexico car).

I think that your value is way low. Keep in mind that this value is NOT what you can sell your car for. It is replacement cost only.

Mike

[Image: 57_23_07_10_12_47_19.jpeg]

White 1973 (351C stroked to 408, 4V, FMX) convertible with blue deluxe interior AC and power windows.

Mike
Irwin Pa (MCA # 52193)
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