What are you valuing your e9 for insurance purposes

Dan Wood

Dan Wood

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I have always been more on the side of "self insured" instead of "insurance poor".
Some will insure their classic cars based on replacement value, potential sale value, or investment value depending on their person situation.
I do watch the BaT values which I believe most are inflated by an abundance of some people's current cash on hand. It is certainly the time to sell and not the time to buy. Value is what someone will pay and if you have no intentions of selling, then the value is sentimental or to cover your investment. Can you insure a 401k?
Recently I increased the Hagerty insurance value another $20k for $117 difference. It is way more than I have invested minus labor (therapy) and perhaps close to what I might be able to find another one needing work.
Just my opinion.
 
Stan

Stan

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Dan Wood said:
I have always been more on the side of "self insured" instead of "insurance poor".
Some will insure their classic cars based on replacement value, potential sale value, or investment value depending on their person situation.
I do watch the BaT values which I believe most are inflated by an abundance of some people's current cash on hand. It is certainly the time to sell and not the time to buy. Value is what someone will pay and if you have no intentions of selling, then the value is sentimental or to cover your investment. Can you insure a 401k?
Recently I increased the Hagerty insurance value another $20k for $117 difference. It is way more than I have invested minus labor (therapy) and perhaps close to what I might be able to find another one needing work.
Just my opinion.
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I agree with that plan. What would it cost if you were on the way to Asheville, half way there, woke up to find you car gone. In a containership to a foreign land. I do not do the work myself so to get another CS fairly dry and have it resto-modded the way The Great White is would cost me considerably more than $117K. Your mileage may vary.
 
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bavbob

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I have never restored a car to the extent I did the E9, but purchase and parts came to about 47K for a Euro 3.0 cs. I have 200 hours into it and I will say, because of this forum, I think it was done right. So 47K plus 200 hours of my time, that's why I chose 110K.
 
bluecoupe30!

bluecoupe30!

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As Dan has pointed out, there is a tipping point. I can keep increasing my agreed value with Hagerty. And pay more for this coverage. It is easy to get afraid of not having an E9 anymore, should something catastrophic happen to the one you drive. And then the $$ returned would not be sufficient to replace. But I have started to wonder, as I age, would I really be that inconvenienced? Or would the dollars paid out allow me to move into some other less expensive car, that I have always wanted, with the knowledge that I drive less now, and really just want a fun, cool, Euro car to play with.....Naw, I really just want an E9 Coupe for EVER! ;)
 
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