insurance value on a 80 SC

[Scott R]

I purchased my 1980 SC as a basket case, barely driveable, really a complete mess. I had the insurance company value it at 10k at the time. Today I feel as if it's completed, here is what was done:

New interior, seats, carpets, dash, steering wheel, everything down to an OEM shift knob.

Rebuilt engine, all the way down to the crank, bearings, new pistons and cylinders. Increased compression ratio, 964 cams, professionally done by a local respected builder, fully documented and blue printed. Everything cleaned to new, all metal powder coated. New SSI's, all new oil lines front and back.

Rebuilt 915 gearbox, also by the same local builder, fully documented. This was not just syncros, it was everything, including bearings. The thing shifts like a dream.

Custom EFI system, fully tunable right from the drivers seat. I know this may reduce the value somewhat, but never the less it runs a hell of a lot better than the CIS system that it started out with.

I can post pics, but it's a silver targa, fuchs wheels, turbo tail. The paint is an 8 out of 10, people do tend to tell me it looks very nice. The fucs are sitting on new rubber 16's in the back 15's in the front.

Only things not working are the power antenna (I don't use it, have SAT) and the A/C. The A/C was working fine on a rebuilt compressor and new hoses, however I repaired the rear condensor (po had the coil in the wrong place and it smashed the condensor.) Will fix the a/c this week, new R12 charge.

So can I go higher than 10k at this point?

[TerryH]

With Hagerty and other collector car insurance, you name the price and pay accordingly. Now you can't say it's worth $100K, but you should put $18-$20K on it at least.

Hagerty charged me $170 a year for $18,500 on my '81 SC. Full coverage max liability and less than 2500 miles a year. Photos of car in my sig.

If you aren't with a company that provides "agreed value", it doesn't matter what value you insure on your car, as they will only give you what they think it's worth.

[Scott R]

Originally posted by TerryH
With Hagerty and other collector car insurance, you name the price and pay accordingly. Now you can't say it's worth $100K, but you should put $18-$20K on it at least.

Hagerty charged me $170 a year for $18,500 on my '81 SC. Full coverage max liability and less than 2500 miles a year. Photos of car in my sig.

If you aren't with a company that provides "agreed value", it doesn't matter what value you insure on your car, as they will only give you what they think it's worth.

Yes, it's agreed value. That's why I want to change it. when I purchased this car for $6500 I could replace it easily for 10K with a better specimen. Now that I have a lot of money in it I want to protect that.

[TerryH]

They may ask for new photos of the updated car to qualify for the higher amount insured.

[Scott R]

Originally posted by TerryH
They may ask for new photos of the updated car to qualify for the higher amount insured.

Yes, in fact it as been them in the past that came out and took the photos. This is "Country" insurance.

[TerryH]

Originally posted by Scott R
Yes, in fact it as been them in the past that came out and took the photos. This is "Country" insurance.

Never heard of Country as a collector car insurer, but if your policy specifically states "agreed value $XX,XXX" you're fine. Never trust your agent, make sure it's in the contract.

Stated value, guaranteed replacement, blah blah blah.... means nothing but heartache when it's time to file a claim. Sorry to harp on this, but many folks are duped into thinking they're covered when they're not.

[Scott R]

current agreed value is $13.5k, they just called me back. It's classic car insurance, costs me next to nothing per year, limit is 5k miles. They are setting up an appraiser for later this week to get a new value.

[TerryH]

Sounds good. Post a few pictures when you get a chance.