What's the value of a 69 LS1 / T56 Camaro
05-17-2017, 03:33 PM
#41
I've had a number of claims over the years -- including one total (1.5 year old car) and one stolen/totaled (3 yr old car). Never had any problems whatsoever with my or the other party's insurance company. Never had any significant disagreement about value of vehicle or cost/quality of repairs. This covers 45 years of driving insured vehicles.
05-17-2017, 03:46 PM
#42
That's why regular insurance isn't worth a **** for a collector car. They would never give you what you value it at. Not sure what companies you talked with but they really don't give a damn what number I give them or argue with me about a value. The higher the value the higher the insurance rates. It has nothing to do with any market value changing. If I want 35k insurance that's my guaranteed coverage.
05-18-2017, 05:18 AM
#43
That's why regular insurance isn't worth a **** for a collector car. They would never give you what you value it at. Not sure what companies you talked with but they really don't give a damn what number I give them or argue with me about a value. The higher the value the higher the insurance rates. It has nothing to do with any market value changing. If I want 35k insurance that's my guaranteed coverage.
Again, good luck collecting. Seriously, I wish you luck.
Last edited by Pop N Wood; 05-18-2017 at 05:26 AM.
05-18-2017, 10:59 AM
#45
Too bad they generally cost 2xF to build. I'm sure some people make money from these things, but the only ones I can recall seeing outside of some barret-jackson nonsense are people placing no value on labor / time and those pretending inflation isn't real. Personally I'd put "investing" in these cars about on par with investing in freshly baked apple pies or squirrel collar manufacturing; in other words depending on it for for less than zero percent of my assets. Car related debits and credits stay out of real life accounting.
Regardless, people here (and p-t, lat g, etc) are going to disagree with the chevelles.com, team camaro, etc guys, and that's fine, but it sucks when the insurance company says my car is worth $5k when I have 10 times that in it. Hard to get a decent agreed value when the guy coming to appraise is either generally dealing with 86 accords or stock-ish classics. Can't somebody come up with a flat rate term life sort of insurance for cars?
Regardless, people here (and p-t, lat g, etc) are going to disagree with the chevelles.com, team camaro, etc guys, and that's fine, but it sucks when the insurance company says my car is worth $5k when I have 10 times that in it. Hard to get a decent agreed value when the guy coming to appraise is either generally dealing with 86 accords or stock-ish classics. Can't somebody come up with a flat rate term life sort of insurance for cars?
I respectfully disagree. If you spend $50K to build a car that's worth 30-40K then it is you who has made bad investments on the parts, prices and sources in which you have acquired the parts to build such a vehicle. I currently have a 90% completed 67 Firebird with a freshed 5.3L set up for boost mated to an MN12 6 speed, speedtech tq arm suspension (w/varishock c/o all around), tubular control arms, 8pt cage, tubbed, phantom gauges etc etc etc. totaling about $28K, the last offer I receieved on the car with it NOT being for sale was $52K. The only labor not done by me was the machining done to the engine built for the car (its getting an 0411 operated 422 LS3 stroker with upgraded transmission and rear end after all bugs are worked out in the next year driving it).
It shouldn't cost $50K to build a nice looking driving and mild performing classic car. We have so many websites for sourcing parts now. If you spent $80K and have 45 billet aluminum "shiny" parts in your car and complain about how much you spent on the car, that's your own fault. People need to decide before they even buy a car what they want to build it for. Driving, displaying or racing. Each one is like a tier for how much your going to spend.
I spoke with my insurance company about the values thing too. I was told that if it is a "specialty" car, I can have an approved appraiser come inspect the car and they will report back to them and we will discuss the value of the car in the event of a fire, theft or collision resulting in an insurance claim payout that we both can agree on and the rate would be based off that value plus annual miles driven, zip code etc etc. Seemed reasonable enough to me.
Best of luck on your project.
05-18-2017, 11:07 AM
#46
Stop bickering about it and build it
05-18-2017, 08:58 PM
#47
Price, quality, time to complete --- you can optimize around any TWO. If you want it done quickly and with high quality -- it's gonna cost a lot. If you want it done for less money and high quality -- it's going to take a long time. And if you want it done quickly for less money -- quality will suffer. It makes no sense at all for folks to go trying to compare one build to another. Everyone has a unique set of circumstances and unique limitations. It takes the time it takes and costs what it costs. Build your car. Or pay someone to do it while you're doing other things. Either way, enjoy the process. Enjoy the car. Insure it. Or not. Everybody figures it out for themselves when all is said and done.
