trichie Posted October 9, 2007 Report Share Posted October 9, 2007 I just got off the phone with my insurance company (Hartford) regarding replacement value of the Shelby. It seems that most common insurance companies pay ACV or Actual Cash Value. So I asked them, what is that and they said "what the vehicle is worth prior to the accident". So I said what is that and they said" the blue book value and what condition the vehicle was in prior to the accident". So I looked up on NADA what our vehicles are worth and NADA said N/A, not enough data available. So then I looked on Kelly Blue Book and it came back $66,500 for a 2 door coupe. I paid about $55,000 for mine so naturally I was delighted. So then I called my insurance company back and asked them what they would pay if I totaled the car tomorrow. He was reluctant and gave me this big run around about what the vehicle is worth, blah, blah, blah. I then told him that the vehicle is rare and very hard to get a new one. He suggested that I get an appraisal and I said what good would that do. Then he put me on hold and finally came back and said that they consider the vehicle worth between 70 and 80 thousand dollars! So I said, well why didn't you say that in the first place, is that what you would pay if I totaled it tomorrow? and he said yes. I know that companies like Grundy offer a pre-agreed upon value and I called them for a quote. They gave me a quote of $808 per year for a $55,000 replacement value. But I live in Alaska and I don't drive the car in the winter. They don't offer just comprehensive for non driving times so that isn't a good deal for me. My company charges me about $546 per year, with only 6-months full coverage during the time I drive it and just comprehensive fire and theft for the 6-months I don't drive it. So, that is a better deal for me. I just wanted to pass this on to you all. You might want to check with your insurance company and try to find out exactly what they will pay if you total it. Link to comment Share on other sites More sharing options...
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