value for Ins. Whats a fair price ?

Discussion in 'General Maverick/Comet' started by mavgrab302, Jan 14, 2012.

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  1. mavgrab302

    mavgrab302 MCCI Florida State Rep

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    I insured my car for $7000.. My Insurance company says value is to high... What is a fair replacement price for my 71 Grabber ?

    New :
    front and rear suspension
    wheels and tires
    Brand new full interior
    rust free cal. body
    rebuilt motor and trans.

    Please give me an honest idea, you won't hurt my feelings....
     
    Last edited: Jul 31, 2013
    mavgrab302, Jan 14, 2012
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  2. Craig Selvey

    Craig Selvey Indiana State Rep - MCCI

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    I would say $7000 is fine for insurance.

    I am surprised they would insure it without it being painted.
     
    Craig Selvey, Jan 14, 2012
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  3. mavgrab302

    mavgrab302 MCCI Florida State Rep

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    No my Ins. co. says they only want to insure it for 2 or 3 thousand I have more than that in it... Its agreed value and they don't agree to $7000 , and I don't agree to there value....
     
    mavgrab302, Jan 14, 2012
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  4. Bryant

    Bryant forgot more than learned

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    check the nada price guide and reference it. 7000 is low for the nada guide. that what grundy references.
     
    Bryant, Jan 14, 2012
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  5. mavgrab302

    mavgrab302 MCCI Florida State Rep

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    They said it didn't have to be painted, they know its an on going project...
     
    mavgrab302, Jan 14, 2012
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  6. Fish OutOfWater

    Fish OutOfWater Brian

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    I think it looks like a million bucks:). I imagine if it had a 3000 dollar paint job it would be insurable to 12k plus. I think 7K is fair. What number do they want to assign to it? Try another broker. The one you have is probably a bow tie fan. Its not a daily driver, right? I like your choice of rims and the way it sits. Looking good.
     
    Fish OutOfWater, Jan 14, 2012
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  7. mavgrab302

    mavgrab302 MCCI Florida State Rep

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    Thanks, I've been quietly working on it for over 3 years... No I only drive it on weekends... They say its only worth up to $3000.00
     
    mavgrab302, Jan 14, 2012
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  8. Acornridgeman

    Acornridgeman MCCI Wisconsin State Rep Moderator Supporting Member

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    I don't see anything wrong with $7000. Why don't you forget dealing with your everyday insurer and go with a Hagerty type collector car insurance? Much easier to deal with stated value coverage IMHO.

    :thumbs2:
     
    Acornridgeman, Jan 14, 2012
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  9. Fish OutOfWater

    Fish OutOfWater Brian

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    ...Well keep up the good work and get a second opinion.
     
    Fish OutOfWater, Jan 14, 2012
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  10. mavgrab302

    mavgrab302 MCCI Florida State Rep

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    I am dealing with a classic car Ins. co. There called American collectors Ins. I'm going to go to Grundy...
     
    mavgrab302, Jan 14, 2012
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  11. darren

    darren Member

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    What are the rates like? My car costs 120 a year. It will go up next year when it gets a better appraisal but still well under 200 a year.
    I think 7000 is fair for how it sits. Your only a paint job away from upping the appraised amount. Depends whos looking at your car though. To the untrained eye if it doesnt have pretty paint/present itself well, its not worth much right? We know better but the average agent likely doesnt.
     
    darren, Jan 14, 2012
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  12. Dave B

    Dave B I like Mavericks!

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    Add up everything you've done, then consider what it would take to to do it all again...7 grand isn't much. Find someone that will insure it for what you think it's worth.
     
    Dave B, Jan 14, 2012
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  13. darren

    darren Member

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    Who are you with dave? Thinking of changing mine this year. Maybe Haggerty with an agreed value? I have Silver Wheels right now.
     
    darren, Jan 14, 2012
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  14. mavgrab302

    mavgrab302 MCCI Florida State Rep

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    I paid them $126 dollars for a year, now there trying to back out of the deal. I told the agent to look harder into the value of Mavericks and Comets... I know its not a show car, I just want to protect my investment....
     
    mavgrab302, Jan 14, 2012
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  15. Acornridgeman

    Acornridgeman MCCI Wisconsin State Rep Moderator Supporting Member

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    Wow ..... a collector car company and their getting pissy about $7000 stated value? I would run away from them real fast. Just think what a hard time they would give you if you had a claim.

    When my '70 grabber was nothing but a pile of dirty, dusty old parts without anything really done to it yet, I put a stated value of $15K on it with Hagerty and they didn't bat an eyelash at that price. I really like Hagerty.
     
    Acornridgeman, Jan 14, 2012
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