I am getting closer and closer to the day my car rolls away from its mother jack stands. I have the license and title. I figure without labor I have about $15k into this including roller, six cylinder 3.2 motor etc. the car was stripped to bare metal and a 3.2 added. It has 911 5 lug at all corners, 911s aluminum front brakes, a lot of custom stuf with bllstein shocks and a triple gauge, mono ball shifter bushing thru the firewall, and oil cooler with fan. Space saver spare and stainless fuel lines. New paint and chrome bumpers with nice rubber. Lots of painstaking all over.
On jack stands still though, but really close.
What would you suggest for now and when it is done? It is a '72, but not a real six. To be perfectly clear it isn't for sale. Period.
Thanks for your wisdom as always,
Warren

You want to insure it asap. Like tomorrow. Shit happens.

Off the top of my head, I would say $50k. Just that 3.2 engine with the 6 conversion parts is $15-20K to replace.

I would say $35k

You probably don't want to over insure it, and if it is a stated value policy, provided it is reasonable and approved by the company, the amount stated is really a personal preference.

So if, for example, it was stolen and gone forever how big of check would you want to get to make you feel "ok" about things? Not "great" (over-insured) and not "totally pissed off" (under-insured) either.

Would you feel ok about things if you got $35k for it?

I probably have my orange car insured way above market value because (a) it was my first car ever and I have no plans to sell it and (b) I have a huge number of labor hours and memories in it. I would need a big check to make me feel ok about losing that car.

But my green car is neat, but have only had it for a couple years and have it insured for probably what I could sell it for.

-Steve

Call Haggerty and have a discussion. There are a few insurance threads here to search out.

[quote name='mepstein' date='Mar 18 2016, 03:49 PM' post='2317501']
You want to insure it asap. Like tomorrow. Shit happens.



ASAP, if your garage burns down your homeowners ins will not cover your car.

Warren - I'd have to see pictures before throwing out numbers (for better accuracy) but it sounds like you did a nice job. I hope you enjoy it after all of your hard work. The market is funny so I'd be careful when defining the value. If you are asking strictly for "insurance replacement cost value" motivation - I say 40-45. If you are asking (kind of) for what it would sell for (parts investment doesn't always equal return) I'd say 30-35.

Tony

I insured my 6 3.0 conversion with front oil cooler for $30k agreed value. Probably have $40k into it total but value is on what it might realistically fetch.

Agree with siverson. Insure it for what you would feel ok about if it was gone tomorrow. I just moved to Hagerty this last year. My Ins broker set it up for me, so I had to do nothing. Doubled my replacement value + full collision and tow benefits for 25% less than what I was paying with Progressive with no collision.