Trying to get some values for insuring car
Thread Starter
Launching!
Joined: Feb 2014
Posts: 206
Likes: 4
Trying to get some values for insuring car I’m starting to put my Cutlass together and trying to piece things together to get some insurance. What do you think replacement value would be to buy this.
2010 LY6 short block 110k miles
243 heads redone, valve job, seals, PAC 1218 springs, LS7 lifters
sloppy cam
ls6 oil pump
tbss intake
truck accessories
gm injectors
thanks
2010 LY6 short block 110k miles
243 heads redone, valve job, seals, PAC 1218 springs, LS7 lifters
sloppy cam
ls6 oil pump
tbss intake
truck accessories
gm injectors
thanks
Thread Starter
Launching!
Joined: Feb 2014
Posts: 206
Likes: 4
Thread Starter
Launching!
Joined: Feb 2014
Posts: 206
Likes: 4
TECH Enthusiast
Joined: Sep 2019
Posts: 532
Likes: 630
Don't bother with insurance until you're ready to drive it. Then you can get an estimate and float that to your insurance.
It may not be worth it, in the long run. The cost of classic insurance can be prohibitive and most of the risk to the car (like racing) is not covered by insurance. Theft and liability only may be the way to go.
It may not be worth it, in the long run. The cost of classic insurance can be prohibitive and most of the risk to the car (like racing) is not covered by insurance. Theft and liability only may be the way to go.
TECH Fanatic
Joined: Sep 2008
Posts: 1,654
Likes: 531
I use State Farm agreed value on my 80 Camaro with a LS3/4L60E swap. It's not expensive. Agreed value is $35000 if my shop burns down.
I think the big old car companies will insure a partly built car. I would not take my car to a shop and leave it there without some level of insurance on the car.
I think the big old car companies will insure a partly built car. I would not take my car to a shop and leave it there without some level of insurance on the car.
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Don't bother with insurance until you're ready to drive it. Then you can get an estimate and float that to your insurance.
It may not be worth it, in the long run. The cost of classic insurance can be prohibitive and most of the risk to the car (like racing) is not covered by insurance. Theft and liability only may be the way to go.
It may not be worth it, in the long run. The cost of classic insurance can be prohibitive and most of the risk to the car (like racing) is not covered by insurance. Theft and liability only may be the way to go.
How do you figure? When I swapped to classic insurance, my rate was cut to 1/3 of what I was paying.
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Staging Lane
Joined: Mar 2022
Posts: 84
Likes: 41
From: Wenatchee WA
I value my 68 C20 pickup at 40k through State Farm. I drive it 6 months a year and full coverage is $140.00.
The comprehensive only during the 6 months I don't drive it is $40.00.
They let me choose the value and didn't bat an eye.
The comprehensive only during the 6 months I don't drive it is $40.00.
They let me choose the value and didn't bat an eye.
Teching In
Joined: Mar 2018
Posts: 11
Likes: 4
From: Montgomery IL
Insurance is a very complicated subject and several companies use proprietary marketing terminology that confuses the matter even further about exactly what you are buying. Prior to buying any policy, I would highly recommend that you contact your agent and ask for the number of a claim manager to discuss how the policy actually works as opposed to how it is sold by your agent. If possible, request a sample copy of the policy for your review. Read it and understand it prior to purchasing a policy. Most all of them are different and one word can completely alter how coverage is applied.
What you will find is there is a difference between underwriting standards and claim exclusions/loss settlement. You see that when it comes to mileage and use restrictions which typically are underwriting standards but are not specifically excluded within the policy. A practical example would be if you are outside your mileage standards but there is no exclusion within your policy contract itself for mileage, Underwriting may decide to "rescind" the policy (like it never existed because the parties agreed to only 2,000 miles/year or whatever) and not cover the loss but claims absolutely cannot exclude or deny coverage as the mileage limitation is not in the policy contract you signed. Either way the claim isn't covered. The difference is many states limit an insurer's ability to rescind a policy forcing the insurer to cover the claim. Particularly for liability as many states require mandatory liability coverage and excluding liability coverage may be considered against public policy. Now underwriting is going to immediately non-renew or begin the cancelation process on your policy but the loss subject to any exclusions in the policy would be covered.
What you will find is there is a difference between underwriting standards and claim exclusions/loss settlement. You see that when it comes to mileage and use restrictions which typically are underwriting standards but are not specifically excluded within the policy. A practical example would be if you are outside your mileage standards but there is no exclusion within your policy contract itself for mileage, Underwriting may decide to "rescind" the policy (like it never existed because the parties agreed to only 2,000 miles/year or whatever) and not cover the loss but claims absolutely cannot exclude or deny coverage as the mileage limitation is not in the policy contract you signed. Either way the claim isn't covered. The difference is many states limit an insurer's ability to rescind a policy forcing the insurer to cover the claim. Particularly for liability as many states require mandatory liability coverage and excluding liability coverage may be considered against public policy. Now underwriting is going to immediately non-renew or begin the cancelation process on your policy but the loss subject to any exclusions in the policy would be covered.
I know someone who had a street rod and was in an accident. He was so close to the magic totalled number the insurance company gave him that option. He took the check, the insurance company picked up the car and he bought another car and insured it with the same company. The number of claims on these policies are probably quite low.
Somehow I missed a renewal several years ago. The company sent me an email and a link to renew immediately. I was shocked at the great service.
Somehow I missed a renewal several years ago. The company sent me an email and a link to renew immediately. I was shocked at the great service.
Teching In
Joined: Nov 2023
Posts: 1
Likes: 2
To determine the replacement value for insurance, calculate the market prices of each component: LY6 short block, 243 heads, cam, LS6 oil pump, TBSS intake, truck accessories, and GM injectors. Sum these for an estimate. Ensure to document details for accurate insurance coverage.
Joined: Nov 2001
Posts: 34,648
Likes: 2,574
From: Schiller Park, ILL Member: #317
It's actually very affordable, much more so than covering a new car of equal value on a "normal" policy. The restrictions are no big deal as long as the car is actually used as a "toy" and not your daily driver, in which case you are probably already meeting most/all of the restrictions anyway. However, if the car is used as primary transportation then this type of insurance is not the answer.
I use Grundy for my garage queens. A local car show friend of mine has had two incidents covered by that same company, both were hassle-free and they didn't drop him or any such drama. No appraisal necessary, unless you want to cover the car for an amount that is well outside of anything they feel it would be worth. But, for reference, my '71 is covered for over $40k (agreed value) and I didn't need any kind of appraisal. Maybe at $100k they might question it, not sure what the threshold is.
As for the OP's car, it would help to know the actual car in question when determining a value. All that was mentioned was "Cutlass". That can be quite a range depending on specific year and original options/door/roof configuration, etc.
Thread Starter
Launching!
Joined: Feb 2014
Posts: 206
Likes: 4
Agreed.
It's actually very affordable, much more so than covering a new car of equal value on a "normal" policy. The restrictions are no big deal as long as the car is actually used as a "toy" and not your daily driver, in which case you are probably already meeting most/all of the restrictions anyway. However, if the car is used as primary transportation then this type of insurance is not the answer.
I use Grundy for my garage queens. A local car show friend of mine has had two incidents covered by that same company, both were hassle-free and they didn't drop him or any such drama. No appraisal necessary, unless you want to cover the car for an amount that is well outside of anything they feel it would be worth. But, for reference, my '71 is covered for over $40k (agreed value) and I didn't need any kind of appraisal. Maybe at $100k they might question it, not sure what the threshold is.
As for the OP's car, it would help to know the actual car in question when determining a value. All that was mentioned was "Cutlass". That can be quite a range depending on specific year and original options/door/roof configuration, etc.
It's actually very affordable, much more so than covering a new car of equal value on a "normal" policy. The restrictions are no big deal as long as the car is actually used as a "toy" and not your daily driver, in which case you are probably already meeting most/all of the restrictions anyway. However, if the car is used as primary transportation then this type of insurance is not the answer.
I use Grundy for my garage queens. A local car show friend of mine has had two incidents covered by that same company, both were hassle-free and they didn't drop him or any such drama. No appraisal necessary, unless you want to cover the car for an amount that is well outside of anything they feel it would be worth. But, for reference, my '71 is covered for over $40k (agreed value) and I didn't need any kind of appraisal. Maybe at $100k they might question it, not sure what the threshold is.
As for the OP's car, it would help to know the actual car in question when determining a value. All that was mentioned was "Cutlass". That can be quite a range depending on specific year and original options/door/roof configuration, etc.
will be the 6 liter mentioned with 4l80 controlled by ms3 pro and ms3 trans controller, new posi and gears. AC, cruise, floor shift, no power windows or locks. I’m putting C6 brakes on with fbody backing plates and Kore3 adapters in front. I’m adding a OAI hood. Some kind of Bluetooth receiver and decent speakers. I’ll have a gps or satellite tracker and alarm system. It will be garaged of course.
this won’t be a daily driver, but I do plan to drive it quite a bit. Some longer trips out west and to florida.