Do you have more invested in your GT/CS than its market value?

[John McGilvary]

...No,
"Happy" is John MicGilvary who only has to insure his car for $3,700!

;-)

Tim,

I may be "Happy" but my car is insured for alot more than $3700.

To answer the Thread ?. ( Do you have more invested in your GT/CS than its market value ? ) = "NO"

 

[Midnight Special]

I know John I was making loose reference to what some insurance companies would review as "worth" vs the actual market. I've heard horror stories of some of the hassles people have endured in the past. That's why it may be good to have periodic appraisals performed...

I also know that you are the premier "NO" person on the subject )

 

[390cs68rcode]

answer to the original question............

no

 

[GTCSMustang]

I'd guess that I have a ton more money in my HCS CJ than I could get for it. Don't really know, but I thought I paid too much for it at the time I purchased it, and the market is softer now.

Scott

 

[Stacey Enderle]

investment value

When I finish restoring my 1968 GT/CS I will probably have more invested in it than its current market value but have no intention of selling it anytime soon.

Do you have more invested in your GT/CS or HCS than its worth on the open market?

Hello,

If you LOVE your car, it shouldn't matter, if you're not out to make a profit. It's no different than paying an arm and a leg to save your favorite pet, simply because you love it.

Stacey

 

[390cs68rcode]

I'd guess that I have a ton more money in my HCS CJ than I could get for it. Don't really know, but I thought I paid too much for it at the time I purchased it, and the market is softer now.

Scott

you did and I would be happy to pay you 30% less than what you paid for it since we are such good friends.

 

[390cs68rcode]

keep in mind every car you own will lose value. Buy a new car now and it 5 years it sure is not going to be worth what you paid for it. That is a cost of living.

 

[RedGTvert]

Hagerty will insure it for whatever you want. You just have to pay the higher premium for the higher worth.

www.hagerty.com

Unfortunately that is not a true statement. They will not insure a $20K car for $100K no matter how much you are willing to pay. Underwriters have final approval on agreed value and they will not overstate/over insure the value. That would set them up for big time fraud.

 

[RedGTvert]

Has anyone (or knows anyone) that has collected on a total loss when the stated value exceeded replacement/market value?

Jeff, remember there is a difference in stated value and agreed value. With agreed value, they have to pay the number that is agreed upon in the policy.

Stated value leaves that opening for difference in car values.

 

[PNewitt]

But it is the "fastest GT/CS on the planet"-PMN haha that makes it PRICELESS

ABSOLUTELY!!!

--PMN

 

[J_Speegle]

Jeff, remember there is a difference in stated value and agreed value. With agreed value, they have to pay the number that is agreed upon in the policy.

Thought I understood the difference until I asked an agent and I read the small print in most/all policies where it refers to arbitration, insured paying all cost,........ Thought I understood the difference until I read the small print in most/all policies where it refers to arbitration, insured paying all cost,........

Bottom line as I understood it was that the company would pay me what they decided was the value (if my agreed on was “unreasonable”), I could not sue them and if I could I would end up paying more in lawyer fees than the difference.

Guess none of us know how it would work out until we went through it 

Just the American way