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Username Post: Need an expert to value a restored 67 Impalar for insurance        (Topic#360118)
Outsider55 
Newbie
Posts: 1

Reg: 03-10-20
03-10-20 04:29 PM - Post#2788380    

My Impala was stolen and I'm trying to find a couple of classic car experts to back me up on value. I had it insured and they want to pay their estimated value as an old 4 door car - not a restored classic. It was beautiful and had a rebuilt 283. Everything under the hood was matching numbers and my daughter and I were restoring it. I know I'm not going to see it again, so I want to get the value of it on the insurance. Anyone know where to start with this? I'm pretty shaken over the whole thing.



 


Dave in VA 
Contributor
Posts: 370
Dave in VA
Age: 69
Loc: SW Virginia, USA
Reg: 03-11-18
03-11-20 06:11 AM - Post#2788407    
    In response to Outsider55

If you didn't have classic car insurance with an actual dollar value in the policy, I think you'll be out of luck...

"Knowledge is Good" -- Emil Faber

U S Navy MM2 1970-75 USS Canisteo AO-99, USS Miller DE-1091 (The Champagne of Ships)

1950 Styleline Deluxe 2dr, mostly stock, driver quality...new to me 3/18
2017 Silverado LTZ 6.2
2020 Blazer Premier



 
sz0k30 
"11th Year" Gold Supporting Member
Posts: 461
sz0k30
Loc: Oakland Co., Michigan
Reg: 10-12-08
03-11-20 09:51 AM - Post#2788428    
    In response to Outsider55

  • Outsider55 Said:
Anyone know where to start with this?



The time to start with this was having it appraised and actually having Classic Car Ins when you had the car. If all you had was regular insurance then all you had was an old car.




 
427SS65 
"16th Year" Platinum Supporting Member & Senior Moderator
Posts: 14684
427SS65
Age: 74
Loc: St. Louis, MO
Reg: 12-11-03
03-11-20 11:26 PM - Post#2788466    
    In response to sz0k30

Usually, declared or agreed value insurance is required on "antique" autos. You'll have to barter with the adjuster since you don't have the proper insurance on your vehicle.

I have my antique policy with State Farm. It's agreed value is $30,000.00 and costs about $250 per year. Antique policies are available from Hagerty, Grundy, Condon-Skelly and most standard underwriters like State Farm, Allstate, Progressive and many others.

Tom 65-70 Full Size Team Moderator

View My Photos Here

65 Impala SS Tahitian Turquoise


 
59fins 
Member #212 "19th Year" Gold Supporting Member
Posts: 2334
59fins
Age: 59
Loc: Surprise Az USA
Reg: 04-07-00
03-13-20 04:53 PM - Post#2788586    
    In response to Outsider55

So what do you think your car is worth vs. what they think (the Insurance ).

Most policy information would say "actual cash value" so you need to look at your verbiage of your policy because a convertible is worth more than a "typical" 4 door, exclude the supernatural cars, survivors and documented cars.

You could Possibly look on line at NADA or KBB.com don't know if they give you a value of that "classic" or vintage car, and your adjuster needs to compare apples to apples, or get an attorney, options and trim levels will do also effect the price, your best tool is photos, invoices. and did I mention good photos, you could contact the department of insurance of your state and see where they stand? if it's number matching, you had better have documentation, as you may need to educate your adjuster...

I see this happen where people do not have their car appraised, and they do not have an agreed value policy, usually only requirements are the amount of miles and I must be kept in a garage, I'm sure their are other requirements per insurance carriers, and it's usually pretty darn reasonable.

But it is kind of late for that I understand, get your policy, read it. If you are way off and different on values, you need to ask for documentation how they came up with that said amount specifically, because if you bought a new convertible today it would be more than the sedan version (if that even exists' anymore.) and again only if you need to get a 'eh hem'..... an attorney, even if it is to see if you have a leg to stand on.

When you bought your policy, did they offer you classic car insurance?

Photos are always the best way to document in my opinion, but getting what you want and what you get may be 2 different things. Have your figures in your mind because you will have to back them up, and finding someone to do it will prove difficult after the fact.

Remember 'actual cash value' it's how newer cars are valued, how nice they are kept, any prior damage, tire condition so on, without the car, invoices may save you a little outside of recent pics. ?

Good luck, don't leave us hanging on what happens.

Bill H.
67 Impala SS




 
PatwithaRat 
Senior Member
Posts: 306
PatwithaRat
Loc: Bardstown, Ky. USA
Reg: 02-22-02
03-13-20 08:56 PM - Post#2788612    
    In response to Outsider55

restored 67 Impala

my daughter and I were restoring it.

Those two statements are nowhere near the same and the gap could be as wide as the Grand Canyon. I hope you have a lot of pictures.

Voted most likely to end up working at a car wash.


 


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