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Discussion Starter #1
I'm ready to insure my car and I'm supposed to put a price on it. I'm pretty biased so I thought I'd ask what you all thought.

1967 Mustang Coupe
2012 Coyote 5.0 Engine
T56 6 speed manual transmission
12" wilwood brakes on all corners
No rust.
Fresh paint job.

(I just realized I don't have any good pictures of the car completed but here are a few of it mostly done.)





 

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You had one job!
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I assume you are going to be doing stated value insurance correct? If so I would state the value as what you have in it. I personally would insure it for at least 30K.
 

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Discussion Starter #3
Thanks TCStang. I wish I only had 30k in it. I added up my receipts and I have almost 70k in it! My wife was not too happy when I told her that.
 

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You had one job!
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I figured you had more than 30 in it. I had that much in my 68 and it still needed paint and body work. I would insure it for the full 70k. If you have the receipts to prove it you shouldn't have any problem getting it insured for that.
 

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Powered by LSx tears
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^ I agree with TC. It's hard to value something like that, so I'd go for dollars invested.


Very nice work BTW. That things need a turbo!
 

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I am insured with Heacock insurance. They are great to work with. They will give you a very accurate estimate of the value of your car from pictures and their rates are excellent.
 

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Discussion Starter #8
So my insurance guy is telling me they can only insure the car for 35,000 because that's what he has found in his research. So I just sent over about 80 pgs of receipts and told him if he can find a car like mine for 35,000 that he needs to buy it. Why are some people so stupid?
 

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It's the industry. You really need to speak to Heacock. They will work with you to give the car an agreed value. They specialize in collector cars and projects. Even though my car is still under construction they have insured it for my agreed value with agreed increases as the project progresses. The rates and restrictions are very reasonable.
 

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Discussion Starter #11
I am dealing with Heacock. I was with Haggerty for the past couple years with my two other cars. But they wanted to much $ to insure the mustang so I got a quote from Heacock and their price was almost half of what Haggerty wanted so I have been dealing with Heacock. Once I sent a handful of the larger receipts for proof they agreed on my value. Talking with representatives from both companies, Heacock was less strict on what I could do with my car. I'm glad I found them.
 

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When I insured my 1970 Fastback, my agent called me back a few days later because the underwriters wanted to know what they MSRP was on it. I actually laughed at the agent and told her it doesn't matter, we have an agreed value on the car. Some people just don't get it, their underwriters must not know the value of cars at all. You can't use KBB to value these things.
 
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