Insurance Fixed Value

[motordean]

Originally Posted by Cashburn

Before giving advice on this, have you ever been involved in a claim?

From experience, opt for agreed value at what you feel you can replace your car for without lifting a finger, then add alteast 5k for protection. Pay the premium that affords this coverage. Or roll the dice...

It's a risk pool. You can hang in the deep end or wade in the shallow end. But one side you get more pee.

No, never involved in a claim. Love the analogy btw!

[WardL]

Where do they get the selling price information on several Cobras similar to yours? I've seen the asking prices for various Cobras on Cobra Country, but not the selling price. I've often wanted to create a "Blue Book" for our Cobra's but didn't know where to find the actual selling price. It is a "two edged sword" if you had access to the DMV records since owners may low ball the price to the DMV (not that anyone here would do that...).

[Steve Gallegos]

Try State Farm. They went with the value that I gave them. Also, they call me every year to see if I want to raise the valve. Also, no limit on miles.

[jhv48]

Originally Posted by WardL

Where do they get the selling price information on several Cobras similar to yours? I've seen the asking prices for various Cobras on Cobra Country, but not the selling price. I've often wanted to create a "Blue Book" for our Cobra's but didn't know where to find the actual selling price. It is a "two edged sword" if you had access to the DMV records since owners may low ball the price to the DMV (not that anyone here would do that...).

They arrive at a selling price for cobras the same way they arrive at a selling price for any vehicle. Survey sellers. If none available, contact dealers and survey their sales figures. DMV numbers never figure into the equation. Once they have arrived at a value determination, they present the offer to the customer. If he thinks it is reasonable, he accepts the offer. If he believes his vehicle was worth more than the others, he must show why he believes that. Usually, receipts are all that's needed to show why the vehicle in question was more valuable than the others. It can't be because your car was just waxed or just had the windshield replaced or had new tires (those are maintenance items). It must be upgrades that you did that increased the value of the vehicle. Like installing a killer stereo or $30,000 Shelby all aluminum big block. Those items add value to the car and would be factored into the replacement price.

If any of you are skeptical, call your insurance company and ask them how they would determine the value of your cobra if it was totaled. If you don't like the answer, find another insurance company. It isn't always the case that cheaper is better. It is until you have a loss, then you might wish you had paid a little more attention to the company rather than the price.

[motordean]

Thanks All. Right now I am covered with Hagerty, just exploring other options since I do not think it is enough and they did not want to raise the value at the time of my inquiry a week or so ago...
I will let you know how I make out soon!

[motordean]

Thanks All. Right now I am covered with Hagerty, just exploring other options since I do not think it is enough and they did not want to raise the value at the time of my inquiry a week or so ago...
I will let you know how I make out soon!

[Ono cobra]

I just insured SPF 3120 with Hagerty for exactly what it cost me to build it. No questions about it!!

[razerwire]

Just renewed policy on csx car with Grundy and when I had them on phone I asked if they would insure my Bennett car and they asked how much would I like a quote for. They have agreed value so I could have asked for any amount of coverage I wanted to have because agreed policy price is a percentage of the amount of coverage you want. I asked for $ 70,000.00 and just received letter today, quote was $ 471.80 year.