Need to put insurance on the Chevelle so I can drive it this year. Not sure what to put on it for value? Not sure if the insurance company will want it appraised? That will be funny when they look at it and probably go really. But please chime in on what kind of number you think.
BLyke said
Mar 23, 2020
try Hagerty's value tool
dashboard said
Mar 23, 2020
When I insured my Trans Am with Hagerty, they simply told me to pick a number.
But to your question. 30K.
Lost in the 60s said
Mar 23, 2020
dashboard wrote:
When I insured my Trans Am with Hagerty, they simply told me to pick a number. But to your question. 30K.
Yup, I'd even go 35k They will want pics, but will quickly determine it's worth that.
Larry Lucast said
Mar 23, 2020
I think $35K is fair.
more ambition than brains said
Mar 24, 2020
What we would sell for and what our toys are worth are usually two completely different numbers.
Also, what we have spent on them is irrelevant.
What are "done" 66 Chevelles going for on the open market?
We have had previous discussions on "stated value" and "actual cash value" coverage.
If you have stated value coverage the value may still need to be verified, depending on how policy is written.
Read fine print, make sure value stated is defensible what ever value you choose.
My Biscayne is probably worth $35,-40,000.00 to the right person.
The ElCaminos, done, are in the low to mid $20k.
All three are "ground up" every nut and bolt, frame off, no shortcuts on body or paint reworks.
An awful lot of the EBay listings at stratospheric prices seem to be "permanently" for sale.
My Biscayne is on my regular personal policy.
Insured for actual cash value, $1000.00 deductible, full coverage.
All my other non drivers have no coverage, not even Comprehensive.
My worries are fire and tornados.
Just my opinion,
Karl
67ss said
Mar 24, 2020
Thanks everyone. I was thinking in the neighborhood of 12-15k the way it is at the moment. Once I start fixing the body and making it pretty I can add more value.
Lost in the 60s said
Mar 24, 2020
67ss wrote:
Thanks everyone. I was thinking in the neighborhood of 12-15k the way it is at the moment. Once I start fixing the body and making it pretty I can add more value.
OK.....I got mixed up there. I thought we were valuing Bruce's convert... SORRY !!!
Yup, you are right on with your estimates.
Lost in the 60s said
Mar 24, 2020
This prompted me to look at my Hagerty coverage's and my '66 is insured for 20k. Seems I better be increasing that too, at renewal time in May.
SShink said
Mar 24, 2020
67ss wrote:
Thanks everyone. I was thinking in the neighborhood of 12-15k the way it is at the moment. Once I start fixing the body and making it pretty I can add more value.
Probably not a lot of difference in the annual premium of $12K vs. $15K, so I'd go with $15K FWIW.
BLyke said
Mar 24, 2020
Lost in the 60s wrote:
67ss wrote:
Thanks everyone. I was thinking in the neighborhood of 12-15k the way it is at the moment. Once I start fixing the body and making it pretty I can add more value.
OK.....I got mixed up there. I thought we were valuing Bruce's convert... SORRY !!!
Yup, you are right on with your estimates.
I will be updating the Chevelle shortly, I did use the Hagerty and several others and it seems to be well over 20K (and the 10K I have it for now)
there is a quite a bit of variation, but as noted the annual cost per year is not too bad, especially if there is a major accident or theft.
BLyke said
Mar 24, 2020
I increased my coverage today, ~$0.50 per thousand, per month. As Mr. Eastwood might, "you have to ask yourself, "do you feel lucky?""
4-door Chevelle said
Apr 15, 2020
I wish I would have known about the different "value" coverage Karl mentioned above. The short version of the story is when my Chevelle was stolen and found on fire in North Minneapolis over 3 years ago the estimator came up with $22,000 to fix it. You can imagine my surprise when the auditor/adjuster at State Farm offered me $10,000! After much effort on my part we met in the middle somewhere and I bought the car back for something like $326, junk yard value.
INSURE IT!
Lost in the 60s said
Apr 15, 2020
My Haggerty renewal is up next month and I raised the guaranteed value on 3 of my cars. The '66 Chevelle is now in paint, the '67 Camaro has a new engine/trans, trunk floor and lots of powder coating and the '62 Impala didn't reflect the cost of the 409 a couple years ago. Added 13k total for the 3 and the cost went up $26/yr.. I did get a reduction of another $40/yr, because they are/will be all stored at my residence now, instead of 2 of them being in off site storage for 6 months/yr. I told my wife that was a cost saving benefit of the new pole building... Unfortunately, she is good with math and then mentioned it would take 875 years to pay it back...
BLyke said
Apr 16, 2020
Nice try with the ROI for your savings on insurance.
Derek69SS said
Apr 16, 2020
If you also figure in the gas saved by not having to go check on them from time to time, you can probably get that ROI down to 650 years or better.
Lost in the 60s said
Apr 16, 2020
Derek69SS wrote:
If you also figure in the gas saved by not having to go check on them from time to time, you can probably get that ROI down to 650 years or better.
Thanks !! I didn't think to factor in the transporting of them twice a year...
Need to put insurance on the Chevelle so I can drive it this year. Not sure what to put on it for value? Not sure if the insurance company will want it appraised? That will be funny when they look at it and probably go really. But please chime in on what kind of number you think.
But to your question. 30K.
Yup, I'd even go 35k They will want pics, but will quickly determine it's worth that.
Also, what we have spent on them is irrelevant.
What are "done" 66 Chevelles going for on the open market?
We have had previous discussions on "stated value" and "actual cash value" coverage.
If you have stated value coverage the value may still need to be verified, depending on how policy is written.
Read fine print, make sure value stated is defensible what ever value you choose.
My Biscayne is probably worth $35,-40,000.00 to the right person.
The ElCaminos, done, are in the low to mid $20k.
All three are "ground up" every nut and bolt, frame off, no shortcuts on body or paint reworks.
An awful lot of the EBay listings at stratospheric prices seem to be "permanently" for sale.
My Biscayne is on my regular personal policy.
Insured for actual cash value, $1000.00 deductible, full coverage.
All my other non drivers have no coverage, not even Comprehensive.
My worries are fire and tornados.
Just my opinion,
Karl
Thanks everyone. I was thinking in the neighborhood of 12-15k the way it is at the moment. Once I start fixing the body and making it pretty I can add more value.
OK.....I got mixed up there. I thought we were valuing Bruce's convert...
SORRY !!!
Yup, you are right on with your estimates.
This prompted me to look at my Hagerty coverage's and my '66 is insured for 20k. Seems I better be increasing that too, at renewal time in May.
Probably not a lot of difference in the annual premium of $12K vs. $15K, so I'd go with $15K FWIW.
I will be updating the Chevelle shortly, I did use the Hagerty and several others and it seems to be well over 20K (and the 10K I have it for now)
there is a quite a bit of variation, but as noted the annual cost per year is not too bad, especially if there is a major accident or theft.
I increased my coverage today, ~$0.50 per thousand, per month.
As Mr. Eastwood might, "you have to ask yourself, "do you feel lucky?""
INSURE IT!
My Haggerty renewal is up next month and I raised the guaranteed value on 3 of my cars. The '66 Chevelle is now in paint, the '67 Camaro has a new engine/trans, trunk floor and lots of powder coating and the '62 Impala didn't reflect the cost of the 409 a couple years ago. Added 13k total for the 3 and the cost went up $26/yr..
I did get a reduction of another $40/yr, because they are/will be all stored at my residence now, instead of 2 of them being in off site storage for 6 months/yr. I told my wife that was a cost saving benefit of the new pole building...
Unfortunately, she is good with math and then mentioned it would take 875 years to pay it back...
Thanks !! I didn't think to factor in the transporting of them twice a year...
If you stopped for a cheeseburger with each trip, we can get that number down into the 400s
I'm here to help.