How much should I insure my 21 for

Topics Last Day Last Week Tree View    Getting Started Formatting Troubleshooting Program Credits    New Messages Keyword Search Contact Moderators Edit Profile Administration
Model T Ford Forum: Forum 2016: How much should I insure my 21 for
Top of pagePrevious messageNext messageBottom of page Link to this message  By jeff reissner on Saturday, July 02, 2016 - 01:21 am:

I bought this car about a week ago im transferring the title and getting insurance now and im wondering what would be a fair agreed value. I paid 5 thousand for it and really dont care what its worth. I would have paid much more if needed to get it. I have an emotional attachment to it that goes back to 78 when I was 8 years old and used to play in it. Like I said I dont care about its monetary value its not about that with me for this one but I need to properly insure it. Any idea what its worth.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Chris Laughary on Saturday, July 02, 2016 - 01:30 am:

I think you can state a value (within reason) and they will charge you premiums accordingly.

CarsThatMatter.com has been a good appraisal tool in the past.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Harold Schwendeman - Sumner,WA on Saturday, July 02, 2016 - 02:26 am:

Chris - I'd insure it for however much you think you'd need to buy another in similar condition. Just off hand I guess somewhere between 8K - 10K.

As an "aside",....just curious,....what railroad do you work for and what do you do for them?


Top of pagePrevious messageNext messageBottom of page Link to this message  By Chad Marchees _____Tax Capital, NY on Saturday, July 02, 2016 - 06:25 am:

Jeff, I have my insurance through Haggerty and it has $7500 on it. I feel I could buy a decent replacement if I had too. You can always go more in the future, but I also agree with Harold above, 8-10k is right in the ballpark.


Top of pagePrevious messageNext messageBottom of page Link to this message  By JohnCodman on Saturday, July 02, 2016 - 08:22 am:

My nice but unrestored '27 touring is insured through Hagerty for $10,000.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Tim Wrenn-Monroeville OH on Saturday, July 02, 2016 - 08:37 am:

Jeff, first, wow, you got a good deal!! I'd say it's worth an easy 10K.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Michael Pawelek Brookshire, Texas on Saturday, July 02, 2016 - 09:57 am:

Jeff, Does it have any after market goodies installed like a Ruckstell, high compression head or Stromberg OF carburetor? Might affect the price.....


Top of pagePrevious messageNext messageBottom of page Link to this message  By Erik Johnson on Saturday, July 02, 2016 - 10:09 am:

Liability coverage should be your main concern.

As far as value is concerned, insure it for at least $8,000 but no more than $10,000.

It's usually better and less expensive to go with a company that specializes in antique automobile insurance instead of using the same company that you have for your modern cars. Note that these companies usually have a good handle on the value of the typical and not rare antique cars such as a Model T and will not over insure for value.

Also, being in Minnesota, unless you are a diehard you most likely will not be driving during the winter months.


Top of pagePrevious messageNext messageBottom of page Link to this message  By Derek Kiefer - Mantorville, MN on Saturday, July 02, 2016 - 10:26 am:

I would insure for $12k assuming you will be putting money into making it safe and reliable, and that you would have to do the same to any $8k replacement. That stuff adds up fast.

Most T's you will find for under $10k in this area may look good cosmetically, but typically need a full mechanical restoration.

Lots of these cars have been restored to look great, but only run well enough to make one parade and a few trips to the ice cream stand a year.


Add a Message


This is a private posting area. Only registered users and moderators may post messages here.
Username:  
Password:

Topics Last Day Last Week Tree View    Getting Started Formatting Troubleshooting Program Credits    New Messages Keyword Search Contact Moderators Edit Profile Administration