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Old 01-01-2006, 10:31 PM
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This will make you ill.

Quick story here.
My buddy(met him thru my Stepdad) a few years ago built a sweet new pole barn.
He has a old Challenger that he owned for over 30 years. He just put like 5grand in a paint job and had the 440 built to the hilt. It cost him like $40,000 to build in this 30 year time.
Alomg with it he traded a Chevelle for a mint Superbee with a #'s matching 383(I believe) six pack, 4 speed car. Plum crazy purple and almost mint. Probably 30-50 grand car. Also he had an everday driver like 80's?? daytona in there.
The furnace messed up and burnt the whole garage down. Everything total loss. He had fire insurance on the super bee, but did not have it appraised.
He gets like $1,800 bucks for it and nothing for the other cars.
He figures hes out about 80-100 grand.
Made me sick. HG

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Old 01-01-2006, 11:04 PM
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That's sad man! I feel for him and hope no one was hurt in the fire, which is how it sounds. I guess I need to get an appraisal on my Olds. If he only got $1,800 I'd probably only get @ $800. I hope 2006 is a better year for him.
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Old 01-02-2006, 07:49 AM
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This tragic incident points out the importance of having good "hot rod"/collector car insurance rather than a typical auto policy. With hot rod insurance (Sneed, Hagerty, etc.) YOU set the value of your car ahead of time...not the insurance company. Any you pay premiums accordingly. With traditional coverage, the value of a loss is determined by the insurance company and is based on the age of the car, depreciation, etc. With hot rod insurance the value is of a total loss is determined ahead of time by the owner and is based on the true replacement cost of any unique automobile.

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Old 01-02-2006, 08:29 AM
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Sorry to hear that..

I have tried most all of it and now do what is known to work..
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Old 01-02-2006, 10:12 AM
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very sad

CBOY is right, it's imperative that you have insurance with an agreed value for you ride. You can even get insurance when you are building the project in case you do something stupid like setting it on fire with a welder or torch. I have Hagerty and they are great. No matter what happens to my truck,they pay the agreed value, not a book value for a 50 year old vehicle.
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Old 01-02-2006, 12:04 PM
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I agree with cboy and davedeltadog, for about 600, 300 each+ -, he could have had those cars insured for full value. From the day that I started work on my truck I had insurance on it, and then when it was done I had an appraisal and increased my insurance to match. I am using Grundy insurance and after finding out cheap collector car insurance is I will never have a car setting around without it, even if it's not registered.
It's ashame that this had to happen, I feel bad for him.
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Old 01-02-2006, 01:35 PM
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Well, I don't feel so bad now about the Sunbird........... that would be tough to take.
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