Originally Posted by RenoCYM

That's the way the insurance biz works. They compare all available like models - options, mileage, condition, etc. - in the greater metro area where you live and base their replacement costs on that. Unfortunately, the few FDs that have sold around here have all gone for less than $8000.

If I want a higher value/replacement cost on the car - what they call "agreed value" I'd have to go to a specialty insurance company like Haggerty that covers rare collector cars and the like. There I could set my own value - in conjunction with the company - but they have some pretty strick limits before they'll cover a car: very low annual usage (I think it's around 1500 miles/year last time I checked), car must be kept in a closed, secure gargage, stuff like that; and they won't cover every car, it's up to them whether it's a classic, rare, or collector car.

That's probably why you see so many FDs for sale on ebay with salvage titles, cost to repair them far exceeds the insured value.

Originally Posted by RenoCYM

As I said, I've looked into that. There are some very strict restrictions as to what they will cover and how you use and store the car. Has to be less than 1500 miles a year, and what killed it for me - no licensed drivers under the age of 18 in the household (I have 2). I also would have to pay for an appraisal by someone they recommend, on their list of approved appraisers, and could take an average of 3 different appraisals as the highest "agreed Value". They do, however, use collector and specialty car appraisers rather than used car appraisers.