With just getting my T, which was a gift, what would it be worth. My insurance company wants a retail value of the car and I am not sure what to say. Here's what I have been told: It is all stock 1918 auto. I have been all through the car and there is no bondo, no rust, no rips or tears in the interior. It rols and shitfs into gear as far as I can tell. The car was running last in 1969 - which is tagged for Georgia. The top has one slight rip about an inch long near the back windows. Everything seems to be there. I have pumped air into the tires and they seem to be holding fine.
Many pics are posted at http://www.3dwoodcraft.com/t.html
Mark, I faced the same situation when I got my new T last year. I hired a local appraiser for $50. He came up with a figure of $11,000, which is considerably more than I paid for the car.
If you carry collision insurance, you lose control after the collision. It is no longer your car to do with. Too high a value, and they will fix what should be scrapped. Too low a value, and they will give you that amount, less salvage, and make a profit.
You're money ahead to self insure for collision unless the loss would cause a financial hardship. That goes for anything.
I'd say between $5,000.00 and $6,000.00. Jim Patrick
Ralph, that is simply not true. After a collision incident you negotiate with the insurance company to settle the claim. You are always in control unless you choose to accept their first (always low ball) offer.
It does pay to use an honest insurance company. I have made several claims with JC Taylor over the years and they have been super to deal with.
Well, there are two values...
What you could buy a car like that for. -A car like that could probably be purchased for $6,000 to $8,000.
What it would cost to have that car fixed if it was nearly totalled. -Having that particular car repaired could easily cost $25,000 if it was nearly totalled.
Jim's estimate is right on the money. Your car looks a lot like the '24 touring we bought in February for $5,500.00. I had to spend a little to get it running right but not too much.
It looks like a good older restoration to me. What some one would appraise the car for and what someone would give is usually two different things. I would say no more than 8000.00. I would clean it up, change the bands if necessary and make sure the tires havent age hardened. Make sure to check the fluid levels. It dosent look like it would take much other than that. Maybe install new radiator hoses. It looks like it may be missing the carburator hot air pipe. The radiator looks original. Maybe that was why a water pump was installed. If you really start to drive the car you may eventually have to change it or try to have the radiator rodded out if the copper hasent got to brittle. A nice gift!
Mark, I recently purchased a 1919 touring very similar to yours. The previous owner had it insured for $30,000. I have it insured with Hagerty for $15,000.
I do all my business with an independent agent, and he recommended Hagerty. If I remember correctly, the car is insured for replacement value. You do not have depreciation involved like you do with a new car. Maybe others can corroborate that info for you.
If you keep it and drive it its just going to get better. I would insure it for $10,000. More importantly get at least $300,000 liability insurance.
Collector car insurance depends on your modern car policy for liability. That's why it's so cheap; you're basically buying Collision from them. That's why you can't buy collector car insurance unless you have another car with regular policy as your primary.
I've never spent on Collision, except a couple of times when I financed a car, like when I was discharged from the Army and needed a nice car for business. I've never collected on a Collision policy, either. I'm only going by experiences of others who have. If you've had good dealings with Collision claims, good for you.