| [ Total Views: 514 | Total Replies: 6 | Thread Id: 76310 ] |
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 GTMac
A.k.a.: Andrew
Fahrvergnugen
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| posted on May 2nd, 2009 at 07:26 PM |
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How do you fairly value a car for insurance?
Hi all, need to pull finger out and get car insured for higher sum. Im with Shannons and its insured for $10k atm. What is the best way to value an
old car that has been restored or how do I justify a value to the insurers should I just pull a value out of thin air.
I once had a gentleman from an insurance company say they were not interested if the car had brake mods, engine mods etc etc but did if it had a nice
rust free, well painted body that was appealing to the eye!!!!!!!!!!!
As you can see from the pic, it has been restored in original Antartic white 2 pac, straight and rust free. Full interior upgrade, now with 16in
Polished Fuchs, rebuilt gearbox Albins etc, modified EJ20T, 4 wheel disc brake upgrade, mostly new rubbers, new front and rear screen, all new
suspension (Bilstien, 28mm torsion bars).
Should I simply try and add up what it would cost me to do this again or pick the value at what I might sell for if someone offered a figure?
Any guestimates much appreciated and no hard feelings if someone thinks its worth a case of XXXX.
1971 Type 3 Fasty - EJ20T
I love 242HP sleepers. 
How many sets of lights does it take a $229k Carrera S to learn?
UPDATE: Cayman S, M3, B4 now added to the list. |
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silver
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| posted on May 2nd, 2009 at 07:32 PM |
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16K should do it I think you could remake one for that. if you kept the wreck, so Shannons would be the best insurer
Tram sheds are a great location for the pics nice work..
Keeping it real !
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dAVo
Seriously Crusin Dubber
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| posted on May 2nd, 2009 at 07:51 PM |
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I would probably insure it for the amount that you spent because that's what it's worth to you. I'm with Shannons and I'm pretty sure they cover
the amount it cost for a restoration. Would only take a phone call for you to find out for sure though because I'm normally wrong about most things
Probably one of the best Type 3s I've seen. Looks sweet as! Do you have anymore close up pics or something?
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colonel mustard
Son of Jim - Creator of Good
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| posted on May 2nd, 2009 at 08:02 PM |
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have them come look. I think probably 20k. I guess its what its worth to you, the higher the amount, the more you pay in the end.
It looks amazing!
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h
A.k.a.: Towely BuMpEr KING! ILLegal ALIEN on a roadtrip
Scirocco Rare
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| posted on May 2nd, 2009 at 08:43 PM |
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if you have receipts that counts for a bit of sway too.. load it up..
shannons are pretty good with such things..
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GTMac
A.k.a.: Andrew
Fahrvergnugen
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| posted on May 2nd, 2009 at 09:39 PM |
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Ummmmm, good thoughts. I sort of had $20k in my head for a couple of reasons. If someone handed me a cheque for that I would almost consider it and if
it needs to be done again I dont want to be doing the body work and paint myself and the panel/spraypainters on here will know how quickly dollars add
up when a spray shop is doing to get a quality job.
Doubling my sum insured wont double my premium, that I know.
Maybe thats why the guy from Shannons did mention the body condition as so critical knowing how much it would cost to replicate.
1971 Type 3 Fasty - EJ20T
I love 242HP sleepers.
How many sets of lights does it take a $229k Carrera S to learn?
UPDATE: Cayman S, M3, B4 now added to the list. |
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A 1200 is slow
Seriously Crusin Dubber
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| posted on May 3rd, 2009 at 11:18 AM |
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At least $20k .....Insure it for what you think it would cost to replace in todays dollars, not what you may sell it for. ie. if it got knocked off
and you wanted to build another one with the identical specs and all the work was perfomed by a workshop.
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