car value

[billthomas]

I'm trying to establish a value for insurance purposes. The car has 270,000
miles on it. I have redone rust and repainted. I have a high end audio system in
trunk with different speaker. Cost on this was $1600. Kelley blue book only goes to 1992.

[Mikeo]

about 2k tops

[njdixon4]

As much as I hate to admit it, these cars aren't worth that much in the grand scheme of things, except to the people who really appreciate them. Now, the New York State DMV valued mine at $3100 when they taxed me for it but they were smoking crack.

[Mikeo]

Dang i bet mine is about 2,500. Its got only 134 but a lot wrong.

[l4zy415]

It really depends on the condition of the motor, transmission, interior, and exterior. $2K would probably be the max people would go for.

[LowPSI]

While at NALM, this subject was brought up that it might be possible to add a rider to your homeowner policy. As I understand it, you might be able to negotiate the value with your insurer if you put collision on it.

[Andyrst]

Or if you have a garage or Storage unit, and have another car that could be listed as your primary transportation, you can get a policy from HAGERTY Insurance and place a " Declared Value" on your car and pay the corresponding premium....I have a few vehicles insured this way...I had a 1962 Range Rover Diesel Covered this way 3 years ago when it was stolen and never recovered..." Declared Value $ 14,250 they paid off no questions asked within 15 days" Mind you it was not a pile of junk.. So that is what I would do.. my Legend Coupe's Declared Value is $10,000 my premium is $ 480 a year...Do your Research, ask alot of Questions,,,Or you can also shop for an "umbrella policy" but you will have to affix a value and then justify value over Blue Book.. the Haggerty Route may be your best bet..Good Luck!!!

[pnoye2]

Originally Posted by Andyrst

Or if you have a garage or Storage unit, and have another car that could be listed as your primary transportation, you can get a policy from HAGERTY Insurance and place a "Declared Value" on your car and pay the corresponding premium....I have a few vehicles insured this way...I had a 1962 Range Rover Diesel Covered this way 3 years ago when it was stolen and never recovered..." Declared Value $ 14,250 they paid off no questions asked within 15 days" Mind you it was not a pile of junk.. So that is what I would do.. my Legend Coupe's Declared Value is $10,000 my premium is $ 480 a year...Do your Research, ask alot of Questions,,,Or you can also shop for an "umbrella policy" but you will have to affix a value and then justify value over Blue Book.. the Haggerty Route may be your best bet..Good Luck!!!

^ THIS might just work for you OP

[JKLedbetter]

Try NADA.com, they go further back than KBB.

The Hagarty policy sounds interesting.

But realistically, the value of an old car is usually so low that it isn't worth insuring (I'm speaking only of collision & theft, not liability which you need to cover others if you cause an accident). You're probably better off self-insuring. ie - instead of paying a premium to the insurance company, put it into your own emergency fund. You win some, you lose some, but in the long run you usually come out ahead. Insurance generally only makes sense for financially catastrophic events.

-Kennon