What is the real worth of your TC ?

[Guest tobruk]

Hello everyone from Canton Ohio,

The TC offerd for $2,000 really caught my eye. If I have invested $5,000 in my 1991 and this one can be bought for less than half, I got to wondering what my insurance would pay to repair if I was rear-ended. The answer--- total loss, just the book price less adjusted for miles and their apprasel for condition. What has this got to do with the cars worth---NOTHING---If it's a 1991 anything else. Could it be I'm just mad that I did't find someone just wanting to get rid of an old car they had never heard of. YOU BET.

Tobruk.

[Bill Reichert]

Not true. If someone rearends you, dig out all the receipts and total them. The damage has to be over 1/2 the book value plus receipts.

I had this happen on another car. The adjuster for the guilty party rambled on for 15 minutes mumbling $800. Then I told him the engine had 552 miles on it, plus lots of other new parts. When no check came in a week, I called my broker and told him to put the fear of God in the adjuster. I got a call that afternoon that the check for $3,000 was at the body shop. This was on an 87 Chrysler GTS when it was 12 years old.

Fix it or replace it with identical car.

[inventorgtp]

1 word, grundy you agree as to its value...and my blondi is worth a lot to me.

[Hemi Dude]

Just to add a little to this;

With Grundy Classic Car insurance, YOU put the value on your car. You can and may insure it for $10,000 or $15,000 as you choose.

The premium is way less than normal insurance and if you get rear ended or smack up the front end, the insurance will pay for the repair or they MUST give you a check for the agreed value.

I remember when I ran into someones little trailer while on my way to TC National in Palm Springs in 1999.

The body shop repair bill was between $5 and $6 thousand. They paid it without question. I think I had the car insured for $10,000 at that time.

[car_chick]

Check with your insurance (whoever it may be) and ask if you are covered for fair market/replacement value vs blue book.

A few years ago I "totalled" my 1991 Jeep. The insurance company tried to tell me it was worth $1800.

I asked if they used fair market value or blue book and they told me fair market value. I told the adjuster to find me a comparable vehicle for $1800 because he was off by about $1500. The next day he came out with a check for $2720, which was the fair market value of $3200 less 15% because I was keeping the vehicle. It was perfectly driveable and the damage was cosmetic except the radiator. Fixed it for about $600 and it's still going strong.