Inherited RX7 need value for insurance
11-12-20, 11:13 AM
#2
You're best bet is to get an "agreed value" type of policy. This is where you insure the vehicle for an amount which both you and the insurance company agree upon. Most collector car insurance companies work this way (Haggerty, Grundy ect...) You might need to gather some decent sales data and get the car appraised to justify the amount. A normal policy through a regular insurance company is unfortunately, normally not very good for nice, older vehicles. They will insure them no problem but will total them out for minor damage due to the "book value" being so low.
Collector car policies sometimes will have special conditions that put limits on mileage and specify locked storage and having another vehicle as your primary vehicle. But it's the best way to protect a car like this for what its market worth is. Look here at the FB model page on BaT:
https://bringatrailer.com/mazda/rx-7-fb/
This shows you the range that some cars have been going for the last few years. Look at some of the individual cars and compare the condition of those to yours to estimate a comparable value. I'd say I fully running / driving GSLSE w/ low miles, no mech issues and in good cosmetic condition could today, cost as much as $10 - $15K to replace. The trend has slowly been going up.
Collector car policies sometimes will have special conditions that put limits on mileage and specify locked storage and having another vehicle as your primary vehicle. But it's the best way to protect a car like this for what its market worth is. Look here at the FB model page on BaT:
https://bringatrailer.com/mazda/rx-7-fb/
This shows you the range that some cars have been going for the last few years. Look at some of the individual cars and compare the condition of those to yours to estimate a comparable value. I'd say I fully running / driving GSLSE w/ low miles, no mech issues and in good cosmetic condition could today, cost as much as $10 - $15K to replace. The trend has slowly been going up.
11-12-20, 02:01 PM
#3
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You're best bet is to get an "agreed value" type of policy. This is where you insure the vehicle for an amount which both you and the insurance company agree upon. Most collector car insurance companies work this way (Haggerty, Grundy ect...) You might need to gather some decent sales data and get the car appraised to justify the amount. A normal policy through a regular insurance company is unfortunately, normally not very good for nice, older vehicles. They will insure them no problem but will total them out for minor damage due to the "book value" being so low.
Collector car policies sometimes will have special conditions that put limits on mileage and specify locked storage and having another vehicle as your primary vehicle. But it's the best way to protect a car like this for what its market worth is. Look here at the FB model page on BaT:
https://bringatrailer.com/mazda/rx-7-fb/
This shows you the range that some cars have been going for the last few years. Look at some of the individual cars and compare the condition of those to yours to estimate a comparable value. I'd say I fully running / driving GSLSE w/ low miles, no mech issues and in good cosmetic condition could today, cost as much as $10 - $15K to replace. The trend has slowly been going up.
Collector car policies sometimes will have special conditions that put limits on mileage and specify locked storage and having another vehicle as your primary vehicle. But it's the best way to protect a car like this for what its market worth is. Look here at the FB model page on BaT:
https://bringatrailer.com/mazda/rx-7-fb/
This shows you the range that some cars have been going for the last few years. Look at some of the individual cars and compare the condition of those to yours to estimate a comparable value. I'd say I fully running / driving GSLSE w/ low miles, no mech issues and in good cosmetic condition could today, cost as much as $10 - $15K to replace. The trend has slowly been going up.
11-12-20, 02:22 PM
#4
Damn, it did start!
I have a 20k policy though Hagarty for my 1980.
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