i was over at a buddys shop last nite & another friend was asking me about his insurance on his truck . He wants to put full coverage on it . The insurance wants an all out estimate of the value & he does not know how to go about this. he has a lot of engine work , frame work , tranny work , paint ,you catch my drift . Plus his own labor. Another words , he has a lot of cash in it. does anybody have any ideas on a way to go about this & still look professional ? his concerns are they will replace it with a piece of junk the same year .
You gotta have all the paper work and receipts and find someone that is a professional appraiser. Find a insurance company that specializes in collectors cars.HRP
I insured with Grundy, I was able to tell them what stage of my build is at and what I thought it would be worth when It was finished, right now I have it covered at about 80% and when completed I'll be able to take it up to 100%. I when through Philadelphia Indemnity Insurance Company. Their number is 610-617-7900, give them a call, good people to work with.
There is a 2 part article in Street Rodder magazine that explains this topic. <HR style="BACKGROUND-COLOR: #e5e5e5; COLOR: #e5e5e5" SIZE=1> Here is a cut and paste from a HAMB thread from Oct 19th. Link to that thread: http://www.jalopyjournal.com/forum/showthread.php?t=463814&highlight=hagerty <!-- / icon and title --><!-- message --> Here are the links. I sent them to a neighbor last week but his Apple couldn't get it hooked up, some nonsense about a security cert. I just Goggled Street Rodder and went to tech articles and got right to them. A client told me of the articles, he thought they were quite comprehensive. http://www.streetrodderweb.com/tech/...ods/index.html Part 1 http://www.streetrodderweb.com/tech/...t_2/index.html Part
I sent pics to Grundy, made my own rough estimate, and they based the premium on that. Very affordable. Of course, I over-estimated slightly, as I still am working on the car, and value goes up. Here's the REAL concern your buddy should have, and all of you: when your garage catches fire, will you get a decent replacement value back from your insurance company? I can speak from experience, that most of you are WAY underinsured!
The Jalopy Journal
