Vehicle value

[live4theking]

I'm in agreement with most of the guys thinking that $10-12k would be a reasonable number. At $7700 I think you did well.

 

[Rexer]

I have a 65 Dodge Polara Convertible in similar condition to yours. It is insured for $17,000 and I pay Hagerty $200 per year if that gives you some idea of cost. That is a beautiful Newport by the way. I love the Hard Tops

 

[69CoronetRT]

It's all about insurance premiums.

If you insure a car for $20k the insurance premium is going to be more than if you insured a car for $5k.

"Agreed value" is agreed value. You'll pay the premium based on what's a 'reasonable' value (Don't try to insure an unremarkable /6 four door Dart for a million dollars.)

The insurance companies are more wise than you are. They already know the pitfalls and exposures of a pay off and your premium price will reflect their probability of giving you their money back.

 

[bluefury361]

[QUOTE="Jeff Skibenes,
My insurance company has asked me to give them a replacement value for the car.QUOTE]

Beautiful car. You need to give Haggerty a call and discuss a agreed value policy with one of their agents, good folks and they know what their talking about.

They likely won't mention it but they offer a "cherished salvage" option for just pennies on the dollar. Not something one likes to think about, but if your car is totaled, once the payoff is made you have the right to keep the car. Happened to me.
I think Haggerty is the only company that offers this.

 

[BigblueC]

They likely won't mention it but they offer a "cherished salvage" option for just pennies on the dollar.

I have this on my vehicles. I didn't know anything about it until my agent asked if I wanted it. It's like $10 extra per year for me. I can't remember if that's per vehicle or across the board, but because of sentimental values I intend to keep my cars so it's worth it.