58 insurance value?

[5vette8]

I have always enjoyed following the conversations on this forum and now I am seeking some personal advice. I am the second owner of a numbers matching unrestored 58 Vette. My father purchased it new and transferred ownership to me 6 years ago. It has the base 283 single four barrel, both hard top and power soft top, power windows and powerglide transmission, the body is solid except for a few stone chips on the nose. I know that I have it under insured and was just wondering what dollar value I should be looking at putting on it when I renew my policy. Also do you have any suggestions as to a reasonable appraiser because I believe I will need an up to date appraisal to change the value of the policy. Any input is appreciated

[4 KRUSIN]

Wow, I can't help you solve your problem, but I sure wouldn't mind being in your prediciment. I love C1's.

Please post some pics.

Dave

[RAGGDOLL]

Originally Posted by 5vette8

I have always enjoyed following the conversations on this forum and now I am seeking some personal advice.

I am the second owner of a numbers matching unrestored 58 Vette.
My father purchased it new and transferred ownership to me 6 years ago.
It has the base 283 single four barrel, both hard top and power soft top, power windows and powerglide transmission, the body is solid except for a few stone chips on the nose.
I know that I have it under insured and was just wondering what dollar value I should be looking at putting on it when I renew my policy.
Also do you have any suggestions as to a reasonable appraiser because I believe I will need an up to date appraisal to change the value of the policy.

Any input is appreciated

Wow, sounds like a great car, please post pics

I'd reconsider your insurance all together. Ever thought of specialty car insurance? Call Tony Lant @ Lant Insurance (Silver Wheels). He will also have some suggestions for an appraiser as you'll have to get that done anyways.

[Bishs]

I would contact the NCRS Ontario Chapter. They are very knowedgable on the older Vettes.

http://www.ncrsontario.org/

[monstrocity]

I also recommend collector insurance at Lant Insurance.

There is a schedule on their website for insurance costs for values up to $25K. Over $25K it off the schedule but I suspect it just follows a linear pattern.

Appraisal costs about $200. My appraiser was so-so... not sure that I'd recommend him. But I advise using an appraiser recommended by the insurance company so there are no arguments later.

With Lant there are all sorts of rules to follow but I don't think you'll be driving that baby to work anyway. I once had a small claim and guy across the street from me had a large claim. Both settled with no hassle.

Another thing is the appraisers tend to go higher than market value in my opinion. (My C4 is appraised at $18K I think!). You pay a tiny bit extra but if it's ever a total loss you'll have plenty of money to go shopping with.

Anyway no matter what get a professional appraisal. Insurance guys will tell you it's worth nothing if you ever make a claim.

[DIPPOLD]

I use Lant along with a number of the members of CCO. If you want a appraisal give Antique & Classic Auto Appraisal 416-252-3983 Talk to Dean Renwick. He did my 71 and sent the info directly to Lant. Cost about $200.00

[5vette8]

Thanks for the input.
I am currently insured with Lant and will contact them for names of appraisers.
The car is a lot of fun my wife and I love to cruise in it on sunny, warm, dry days.

I'll try to post some pics.

Larry