Cars about done! Now an Insurance Question. Options

[TM_Corey]

I can't believe I am just now thinking about this after 14 months of bring my car back from the dead. I have had my car on my "normal" insurance plan since the day I bought it, even though its value has changed dramatically since then.

So from what I understand it is a pretty normal that most of our cars that have had extensive work on them either by the owner, or by a shop, are worth less then we have in them. (except the 6's I would assume)

How does that work for insurance? Am I just out the "gap" of what the books say it should be worth and what I actually have in it if it were stolen or totaled?

Will a normal insurance agency do a "agreed upon value", or will places like Hagerty's?

I have about a week to figure it out!!

[forrestkhaag]

I'm with Hagerty now but as Dillon says, things are a changin..

In my case, I have a garage in our home in AZ.
Required.
I have another driver.
Required.

I update the insurance policy site with photos of progress in the 6 conversion. The engine is insured separately until install into the car for 15K stated value.

The rebuilt 6 is now in the car / So Today, a call will be made to adjust coverage and update documentation for a 914-6 conversion.

I alway lean toward a reasonable and defendable value for an unreasonable premium paid on time. The rat bastard insurance company vultures must eat too. Dont deny them a scrap of food however, document everything 5 ways and with 5 separate angles and twice on Sunday (today) and go to bat with a seasoned hickory bat if necessary.

And a big stick will be necessary in the event of a catastrophic loss. Insurance companies are not your friend - they are complex entities in business to make money honey. You are their opportunity in the case of a loss. Not the other way around.


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