the-k-man

Hi everyone. I am trying to get a collector car insurance policy for my 93 Rx7. The car has a restored salvage title. It was in a collision and had minor damage to the driver's side body and suspension. The car has been professionaly repaired with new body panels and suspension parts. Because it has a restored savlage title, the Kelly Blue Book is not available. My insurance agent asked me to get opinions on how much the car is worth for the purpose of setting the policy up.

Overall condition of the car is good, with the typical wear of a 15 year old car. The car runs excellent.

Here are a few of the upgrades I feel are worth mentioning:

Tein super street coilovers
Mazdatrix short shifter
Noltec motor mounts
Diferential mounts
ACT 6 puck clutch
18" ASA wheels with Sumitomo tires

Street ported motor with about 5k miles on it
stock turbos
Fluydine radiator
Apexi PFC
Datalogit
PLX wideband
downpipe/midpipe/muffler
SR pulleys
turbo timer

I am not trying to sell the car. I only need to get an idea of how much it should be insured for. Thanks!

the-k-man

30 veiws so far and no opinions? Maybe I should ask what upgrade I should get first, or what should I look for when buying a Rx7, or my twins dont boost right. Those get alot of responses. Over and over and over again.

I have a good idea of what the car is worth, but my insurance agent wants more than one person's input. I figure that this is an enthusiast's car, and this is the place with the most enthusiasts. Can I please get a few opinions? You arent going to hurt my feelings or anything.

The chassis has 107,000 miles on it.

SLOASFK

iTrader: (5)

Are you asking how much it would cost for you to replace the car or how much the car would be worth if you threw it up for sale today?

Fair market value on your car is going to be really low, like $7-8K, the salvage title kills it.

You shouldn't have gotten a salvage title from a minor accident. RX-7s hold their value fairly well, it'd be hard to rack up $10k(BB value for a 93 in average condition) worth of repairs from a fender bender.

oo7arkman

iTrader: (2)

The rebuilt salvage title is probably what is making most ppl shy away from trying to estimate what the car is worth. The truth is once a car has that branded on it the value of the car drop significantly. Personally once I find out a car has a rebuilt/salvage title, I won't even come close to touching it, but that is just me personally. All that said, your car (based only on the one pic provided) looks really clean. The molding of the side skirts really helped them blend into the car well and it looks pretty smooth. Though as nice as the car looks, like I said, it has been branded. I don't want to insult you or the clean FD that you own, but I would not say it is worth much more than $8,000. The same car with the title in good shape is maybe worth more like $12-14, but I have also noticed FD's are not selling for as much as they were a few years ago. But all of this is just my opinion, I would be interested to see what a few others have to say.
-Noah-

ferragame

iTrader: (1)

Thats a tough question to answer and I'm suprised an insurance agaent will take people's opinion. I have state farm and they go strictly by book value which as we all know is not realistic when it comes to Rx-7s.

Look at Supras for example, book on a 1995 Turbo with 100,000 miles is $17-20k but they typically go for upwards of 30k+. Many people want cars as near stock as possible which is extremely difficult to find. Mods may even decrease the value of a car depending on the buyer.

I go by the old adage: "You car is worth what someone is willing to pay you." BUT to me my car is priceless. Many parts aren't even made anymore and many parts are Japanese which is fine if you want to wait 6 months to ship a replacement.

I'm getting a different policy written for my 7 this year. There are some insurance companies that will write a policy for "stated value" which is to say, they will pay you what you state the car is worth in case its stolen. The cost really isn't much more than a regular policy. There are some restrictions (varies by company) so check closely.

Do an internet search and you'll find a few companies that specialize in this type of insurance. Check reviews in case you decide to go this route.

Coming back to your original question...........I really can't say. I paid 17k for mine over a year ago. It was worth it to me and worth it to the seller so I bought it. BUT I wouldn't sell it for anywhere NEAR that cost.

That is why people don't give an opinion on prices. People don't want to insult someone since these are so personal to their owners. Opinions on mods is different..........everyone seems to be willing to give an opinion on that.

twomucboost4u

iTrader: (9)

I have a salvage title 7 with a whole bunch of money put into it. INsurance doenst care as long as they get there money... I have progresive and they have an aftermarket section where you can claim the aftermaket parts on your car.... Well long story short I had to much stuff so I ended up having to do total claimed value in which I claimed 30k. My insurance was high but I knew if it ever came down to it I would get most my money back.

Chris

the-k-man

Thanks guys! The collector car policy is going to be for a stated value. I want to be able to send the link to this thread to my agent so he can see what other Rx7 owners think this car is worth. I probably should of let it go when it was wrecked, but I knew that I could repair it for fairly cheap and still be able to enjoy it. I do have other pictures, but its pretty much in the same condition all the way around.

I'm more concerned with replacement cost then what someone will buy it for, because the insurance will be cutting the check, nd I highly doubt they will repair the car if stolen/fire/wrecked.

So far it looks like I can insure it for about 7-8k.

thanks again, and any more feedback would still be apreciated.
Like I said before: You won't affend me, I just want honest answers.

Six Rotors

iTrader: (17)

It may be worth paying for a professional valuation.It should not cost more than about $150.

bajaman

I have to agree with others in that the dreaded 'salvage title' is a factor here, but...frankly if you can provide receipts for all you've done you should be able to insure it for around $18K, give or take a few thousand. Collector car insurance is much different than normal, I have dealt with Hagerty's for example and know what their criteria is. I mean basically no one is going to allow you to insure a car that is worth $15K for $50K...it just isn't going to happen. But within reason they will work with you. And realistically, in the worst case scenario where you might have a total loss, there will be adjustments made and you will get what they decide, regardless of insured value. Usually it should (and will) be very close to what the agree upon value was.

the-k-man

Hagerty is one of the few I was looking at. I think I have most of the receipts. My main concern is theft or fire. If it was in a wreck I could sell or reuse most of the aftermarket parts. I will see if the receipts will help with the policy.

Thanks again fo your input everyone.

Shawntx76

I'd say 9k

Azcamel

iTrader: (1)

insure it for what you want to sell it for or close to the cost of building another one. collector car insurance knows you dont have a normal car, they know the price of your car is subjective and that why you can asked for different replacement coverage. I would ask for 15-20k covereage for my car, or you could always get a professional appraiser to take a look at your car, they will take into consideration of the mods, price to replace those mods, and rarety of the car.