I had an agreed value on my Barracuda with the insurance company for $8000 when I bought it. They just needed a picture. Called them 2 months later after I installed A/C to raise the value to $10,000 and they did it still site unseen. After I install a rebuilt engine I was thinking about calling them again and raising it to $13,000. Do you think they'll go for it. Last time they said it was such a small raise that they would just go ahead and raise it. I'd hate to have them come out a decide it not even worth the $10,000 because of the Slant. They know it has the 6 cylinder but maybe it didn't register that it not a Hemi.
I believe I could sell this car for $10,000, but not sure if it would go for $13,000. I have no intention of selling, but would like it insured for the most possiable should anything happen.
I guess what I am asking is what do you think my car is worth? I know you'd need to see it in person but I am just looking for a range.
The odometer read 22,000 miles when I bought it. Seller stated 122,000, but he could have passed it to me as 22,000 miles. It looks that good underneath.

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67Cuda,FAST EZEFI,340cu,CR=10.25,RollerCam&Rocker (XR268HR,#20-810-9)(#1622-16)(EddyRPM#60779,#7576), (MSD6AL,#6425) A904, GearVendorsOD, 8 1/4,3.55:1, ClassicAir

I wouldn't have too much faith on "insured value" as being accurate to what you would actually receive in the event of an accident. The insurance companies have been in a bad pinch lately -You have to get all the details and read the small print. If you are under the impression that your vehicle will be guaranteed dollar-for-dollar for that value in the case of total loss, Id talk to your broker and ask a few "what if" questions get the full story. There are alot of unseen variables that come into play and alot may not seem fair in the event you would need to collect on their policy.
Initially you would get a low ball offer, thats a given, and it could be a fight to get much more, so if you would have concerns about this possibly happening- exercise your right to know beforehand-otherwise it can be a very frustrating, disappointing, and time-consuming ordeal later.

They'd almost certainly be right.
Easy way to test that idea: put an ad in www.collectorcartrader.com and see what kind of responses you get.
Without seeing the car, I'm saying $2750 to $5500 depending on actual mileage, equipment, and condition.

Here's the thing: It's actually tougher to get a realistic appraisal of a car these days than it is to get an inflated one. There are lots of vehicle appraisers out there who are happy to inflate the value of a car. They do it every day, without blinking. Doesn't really affect them, and it makes for happy customers. And so we get ridiculous notions like the 1961 Valiant with 85,000 miles on it "appraised at $13,000", which usually turns into "appraised at $13,000; sacrifice for $7,500 firm".

Of course, with such an "appraisal" in their hands, the owners of such cars are sure that their vehicle is worth exactly what the appraisal paper says it's worth, and not a red cent less, and everyone who offers less is just out to steal it, etc.

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一期一会
Too many people who were born on third base actually believe they've hit a triple.

Haggerty was more than happy to insure my '66 Chevelle for $15K, and all they did was view the pictures I sent them- But as stated in the two previous posts, who knows what Battle Royale I'd be in for if I ever needed to try to collect- That being said; my Chevy easily looks like a $15K vehicle (or higher) in the pics - but in reality, I'd be lucky to get 10k for it!

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BoatAnchor
'71 Swinger /6-225
SuperSix, EI, front discs, 2.25" exh.

OK...heres what happens around here. I smacked an elk broadside at 65 mph in the Valiant. The elk was punted right out of Yoho National park...we got tossed across 2 lanes of oncoming traffic. I backed the car off the road. We hitchhiked 4 hours home with our snowboards. I didnt think I would ever see the car again. Towed away.

The insurance adjuster looked at the car and wrote it off. He said it would cost $1350 to fix and the car was worth $650 minus my deductible of $300 giving me $350 for my car. For that price they would give it back to me.

I searched on the internet and found enough evidence to support the idea that a 65 Hardtop in fair condition was worth $2750. They scoffed and said the car was only worth half that. I sez "then fix it". I supplied a spare rad and fan and they supplied $1150 worth of hood , grille and body work. I had to pay my $300 deductible and pick up the car 4 hours away.

Bottom line: I would have got $1150 in a cash settlement based on established values.

Your car is only worth what someone will pay you for it.
I would be hard pressed to get $2750 for my junk.

What makes your car worth $10,000 more than mine?

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Yeah....Im the one who destroyed this rare, vintage automobile.....

You didn't say where you live, so what sort of coverage you can get on your car can vary all over the map.

In Ontario where Dan & I are, all insurance policy wordings as well as the wordings of all endorsements (which are documents to change some piece of the basic policy) are either written by or approved by a provincial governing body.

Here when you call up your insurance broker and tell them you want "full coverage" on your car, you don't get "FULL" coverage. There's a slew of things that "FULL" coverage doesn't cover. So that's fallacy #1. Fallacy #2 is that in an otherwise unmodified (by adding endorsements to the policy), should something happen to the car, your car is valued on the basis of what's called "actual cash value". There can and probably have been volumes written on what that phrase actually means, but the simplest way to think of it is this: You take your car to the local new car dealer of the same manufacturer and say "I want to trade this in on a new XXXXXX". What the dealer will offer you as a trade will be distressingly close to what the insurance adjuster (A guy whom you've never seen before who is HIRED BY the insurance company to represent THEIR interests in settling your claim.) will offer you. And you can bet your toolbox that offer will be somewhere between a joke to down right insulting. And should you chose to dispute it the deck is stacked severely against you.

However.

In Ontario there are two endorsements that can be added to the basic auto insurance policy, that relate to used cars, that can start to change things.

One endorsement is called Limitation of Amount. Basically it says that you as the owner of the vehicle (what the insurance company calles "the insured") and the insurance company (who will refer to themselves as the insurer) agree on the value of the vehicle (probably based on an appraisal done by someone whose reports the insurance company will accept) and if something happens to the car you'll either receive that agreed amount OR actual cash value - WHICHEVER IS LESS !

Why this endorsement is even offered is beyond me. It takes a deck already stacked against you and makes it even worse. You're going to pay a premium on the value in the appriasal but leave yourself open to still only getting the cash value as determined by the adjuster. The only way this could even remotely work out in your favour is if Elvis were to come back from the grave and say "Damn ah loved me them '67 Barracudas". That would drive the value of every '67 still left on the planet right through the roof. The cash value of your car would sky rocker and then the insurance company would still have the last laugh because you've agreed to a maximum figure.

Not pretty.

The other endorsement available in Ontario is what's called "Agreed Value". This is pretty much what it says. You as the owner of the vehicle and the insurer of the vehicle agree on the value (again by an appraisal) and if something were to happen to the car, the company would either put that agreed amount of money towards fixing your car, or write it off for that amount of money.

The kicker here is not every insurance company offers the Agreed Value endorsement and if they do they can be fussy about what car they put it on, or who they give it to.

So, what does this do in your particular case with what you've done to your car and what you plan to do to it? Imagine that your car has been totalled and you say "Gee, I want another one just like that.", it's probably going to take all of the money that you've talked about to get one and do to it what you've done to yours. Because of what you've done, that's the only way you're going to get one back that's the same. And even that doesn't guarantee you that you'll get the colour inside or out that you had before.

And then let's take the other side of the coin. Suppose your wife, both of your girlfriends AND your mistress all get pregnant at the same time. You're gonna need to buy diapers by the truckload. Where's the money coming from? Maybe from selling off that '67 that you now wish you'd slept with instead of all those women. But it's the dead of winter, there's four feet of snow outside and nobody's in a mood to go cruising in anything that doesn't have a big wide belt under it or two feet of ground clearance. (A) you're gonna have a heck of a time selling your car anyway and (B) in order to begin to get anywhere close to what you've got in it, you've got to find somebody who loves your car as much as you do. And when you start to customize a car or spend huge sums of money on things that are maintenance related (and face it rebuilding a /6 with 122k on the engine IS maintenance), nobody's going to give you 100 cents on the dollar for your efforts. This is where the magpie quotient starts to kick in. Something that's shiny and sparkly will appeal to the guy who's just shopping around for a car.

Is what you've done and plan to do to your car going to make it appealing to a lot of people? If the answer is yes, then you'll have a better chance of selling it, if not, your chances are somewhere south of the heel of your boot.

And finally to answer your original question - will an insurance company cover your car for all of the money you put in it, the answer will be "Maybe". Maybe they think there's enough '67 Barracudas out there that have rebuilt engines in them that go for $4-5K that you could buy one of those. The one thing you can do to help yourself is to rebuild YOUR engine not just stuff ANY rebuilt engine in it. Unless you know your car doesn't have its original engine now, it'll always be better to be able to say: Original engine rebuilt, instead of saying "Rebuilt engine".

Sounds like what you do need is for someone competent, independent and professional to come out and do an appraisal on your car to demonstrate to the insurance company WHY your car is worth the money you're claiming. There are lots of hacks out there who can put down any number you want to see on an "appraisal", but try and find them to help you out if you have a claim and you need backup to support your side of the argument. Just remember it doesn't matter if YOU are happy with the appraisal, it's the INSURANCE COMPANY you deal with that needs to be happy with the appraisal because they're the ones insuring the car, not the appraiser.

Like said, An appraiser can be bought for lent-done it. In Ontario you have to get your vehicle appraised to satisfy the Gov't that they aren't getting the ol' payed-a-dollar for a $1200 car routine, also, done that. The van I have now I payed $1200 for, got appraised at $500 via nothing more than a wink and nod (and $40 fee).For a $150 you can go the other way.
As sandy said, been there too. I had an accident which I was a third party and not even close to being at fault. I was lucky since I thought the settlement was fair and took the first offer -albeit half than agreed value 3 years earlier, however, I did take a little bit of heat about some mechanical problems found after the accident. I was thrashed a couple of times and accused of doing "unlicensed" mechanical work on the vehicle-If fault would had been less disernable, I might have been blamed due to mechanical failure. Thats why you have to disclose all "custom" work to your insurance company and keep it in top shape at all times! If you say you're running the original slant, there better not be a 440 under the hood after the accident or they can withhold liability.

Quoted:
the other endorsement available in Ontario is what's called "Agreed Value". This is pretty much what it says. You as the owner of the vehicle and the insurer of the vehicle agree on the value (again by an appraisal) and if something were to happen to the car, the company would either put that agreed amount of money towards fixing your car, or write it off for that amount of money.

This is the type of insurance I bought, Agreed Value. Are you saying that what I and the Insurance Company agreed on as the value of my car may very well not be what they would write a check for if it were a total loss?
I'll have to reread the policy again, but what was said over the phone and what I read in the policy (which was read very quickly) said basicly we agree that we will pay you $10k if you have at total loss or $10k to fix it.
It sound like the general opionon here is that the car is not worth $10k.
If we had 3 cars to choose from, Valiant, Dart and Barracuda and all 3 were of the same condition, which one would likly bring the highest price? I personaly think a Barracuda would bring more than twice the others. That why I think that mine is worth $10k. Most likely someone buying mine to keep or make a buck could pay the $10k, drop in a 340, and make a Formula S clone and sell it for $15k - $20k. Clones are going for surprizing money these days. I know that the online cars for sale or not sold yet, but there are many many clones going for more than $20k

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67Cuda,FAST EZEFI,340cu,CR=10.25,RollerCam&Rocker (XR268HR,#20-810-9)(#1622-16)(EddyRPM#60779,#7576), (MSD6AL,#6425) A904, GearVendorsOD, 8 1/4,3.55:1, ClassicAir

Yeah Yeah Barracuda worth more....BUT 4 times as much as the $2500 I could realistically get for my 65 hardtop? Yer dreamin.

There was a 30000 mile 65 Barracuda /6 went for $3000 last winter on Ebay... a very nice Texas car....and your car is worth 3 times that?

Do you think you can make your car a Formula S clone with 340 for under $5000? ....and make money at it?

If you can get $10000 for your car my advice is to take it .....and buy another $2500 A body.

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Yeah....Im the one who destroyed this rare, vintage automobile.....

Judging by the photos on your linked website, I'd say up here in the NYC metro area (where people pay over $300 a month for parking garage space!) you could probably get somewhere between 6 to 8 thousand dollars for your 'Cuda- Of all the old muscle car era cars that I've resurrected (7 or over the last 20 yrs. I only "made money" on one, and if you factor in the labor hours (which I don't) I didn't make a dime. As we all know, these cars are only worth what someone is willing to pay. For me, the 'value' is the enjoyment of the hobby itself (bloody knuckles and all!) the comraderie at the 'cruise nights', the friendly conversations at the gas pump, traffic light etc...
You stated that "you're not interested in selling it". I'd call your agent, tell him/her that you've made some "cosmetic improvements" (NOT performance upgrades) to your Classic car, and see how much bumping up the Agreed Value will affect your premiums. If it's cost prohibitive just keep your current $10K policy...
and ENJOY your BEAUTIFUL MOPAR...!

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BoatAnchor
'71 Swinger /6-225
SuperSix, EI, front discs, 2.25" exh.

The 340 core is still available for $700. Other $1300 for a stock rebuild. Trans out of a box $1000. Misc. under the hood $750. Misc. body (marker lights badges, hood treatments, ect) $750. Interior -150 mph Speedo ,ect. $500. Total $5000.

I wouldn't make much and would only do this if I wanted a Formula S. My point here is that some one else could do the math also and find that if they wanted one they could for $10k + $5K or they could just spend $20k for it done.

Sandy:
I find it hard to beleive that your car would be only worth $2500 if it were in near perfect condition.

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67Cuda,FAST EZEFI,340cu,CR=10.25,RollerCam&Rocker (XR268HR,#20-810-9)(#1622-16)(EddyRPM#60779,#7576), (MSD6AL,#6425) A904, GearVendorsOD, 8 1/4,3.55:1, ClassicAir

We need to understand that, as much as we love our cars, we are a small minority. The market doesn't necessarily value them the same way we do.

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David Kight
'62 Valiant Signet, White
'98 Dodge Dakota
'06 Jeep Liberty

Growing older is unavoidable but growing up is strictly optional.

My agreed value is 15k. 1964 Barracuda 273 V8 Auto, ps, pb, ac. Now thats through Grundy at $223 a year, including my 72 Sportster at $6500.

Now the same policy through Nationwide was going to run me right at $3,000 a year. The difference is the collector insurance and all the restrictions on that.

Had I used Nationwide for just the minimums it would have cost $150 a year but if it got totaled they would have given me 25 cents and have a nice day.

Remember, Insurance companies are out there for one reason, to make money. It has nothing to do with your well being.

Rick

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Rick
757-450-4907
Rick.Mopar@gmail.com
www.ricksradioconversions.com
ricks.radio.conversions@gmail.com
1964 Plymouth Barracuda
1965 Plymouth Valiant Signet
2009 Dodge Avenger
2010 Dodge Big Horn 1500

There was a Formula S coupe?.....

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Yeah....Im the one who destroyed this rare, vintage automobile.....

If there wasn't, there would be.

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67Cuda,FAST EZEFI,340cu,CR=10.25,RollerCam&Rocker (XR268HR,#20-810-9)(#1622-16)(EddyRPM#60779,#7576), (MSD6AL,#6425) A904, GearVendorsOD, 8 1/4,3.55:1, ClassicAir