But, you will need an appraisal, and this is where the cost comes in. Because the appraisal is only as good as the appraiser and the appraisal needs to be very specific. No number of awards from the local car show will give value to your car. It counts as a reference point each year you have your Honda 600 insured but you too must revalue your vehicle every so often. Insurance companies use terms such as agreed value and appraised value to lock in a value on your car if it is stolen or damaged. State Farm has both, and, as Miles said with discounts for good driver and multi car or policy programs it can save you a bunch of cash. Appraised value can offer some really great adjustments if there is damage to your vehicle. State Farm will have an appraiser re-appraise your vehicle if you challenge their initial offer, and never allow the insurance company to total your vehicle with out a fight or you may end up with a salvage title or no car at all. The insurance company can total your car if it comes within 60% of it's listed value.
Appraised vehicles side step this by placing a set amount for your car when it is insured and removes the low blue book offer. And, if you have done extensive restoration since the last time it was appraised and the 6 month period has not lapsed yet then the value of your car has increased substancally. However, just because your appraisal says 10K if the insurance company can find another car in your area that is 5K then they will offer you 5K. So, keeping in a group, or knowing other owners in your area and keeping track of what the cars are selling for helps. Because you can counter with a recent sale or even take a look at the car the insurance company is saying they found for 5K to see if it resembles the condition of your car. Remember, you know more about your car than they do.
But, if your car is a daily driver then you need to insure it like other cars you have.
As to how much to start with:
Current pricing in N.A.D.A. says a condition High (#2 In Old Cars Price Guide) Honda 600 Coupe or Sedan is in the 10K range and this is not a total or show quality 100 point restoration but close. Condition Average is not perfect, and is described as a 20 footer meaning it is presentable, runs and drives is completely operable with every thing presentable valued in the 4K range.
Low condition is not a parts car and could be considered like a daily driver but is not used as such. With a value in the 2K range. But even to be listed by N.A.D.A Classic, collectible, exotic and muscle car appraisal guide it must be used and displayed as a collector vehicle. It also has to run, drive and stop.
Bill
> -----Original Message-----
> From:
> 2cylinderhondas@yahoogroups.com [mailto:2cylinderhondas@yahoogroups.com] > On > Behalf Of > Miles > Sent:
> Saturday, March 07, 2009 10:05
> AM
> To:
> 2cylinderhondas@yahoogroups.com
> Subject:
> [2cylinderhondas] Re: Classic Car Insurance
> I use State Farm Insurance. I have multicar discounts and have been with > them for 31 years. They already made their money off me ! I have my Honda s500 > insured with them, I insured it when I trailered it down from Seattle in case > it was vandalized or there was a trailer accident. When I got it here and it's > not running yet I just have Comp. on it. I think it's about $60.00 per 6 > months.
> I have insured other vehicles with them on Classic insurance > like my 1957 Zundapp scooter. The restrictions are less than with Taylor etc.
> I have my regular 600 coupe insured there with minimal requirements and towing > and my premiums are only $120 per 6 months for Liability & towing.
> Miles in California
> --- In
> 2cylinderhondas@ yahoogroups. com
> ,
> Steven Michelsen wrote:
> > Dave,
> > I use Hagerty. It has the restrictions already described here (3k > miles/year "to shows, parades and "occasional" recreational driving", must be > garaged, etc). I have never made a claim to them so I cannot speak to that.
> Like other collector car insurance it's "agreed value" insurance, so if a > meteor or an SUV falls on it you will be paid the agreed value.
> http://www.hagerty. com/auto/ vehicle_index. aspx
> > How much is your car worth? I happen to have previously saved these > URLs... It looks like values have gone up about 30% in recent years.
> > 71 coupe
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1971&m=1195& d=3169&c= 14&vi=73296& z=07876&da= -1
> > 72 coupe
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1972&m=1195& d=3169&c= 14&vi=73298& z=07876&da= -1
> > 70 sedan
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1970&m=1195& d=3169&c= 14&vi=73292& z=07876&da= -1
> > 71 sedan
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1971&m=1195& d=3169&c= 14&vi=73297& z=07876&da= -1
> > 72 sedan
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1972&m=1195& d=3169&c= 14&vi=73299& z=07876&da= -1
> > Steve
> > ----- Original Message -----
> > From:
> Dave
> > To:
> 2cylinderhondas@ yahoogroups. com
> > Sent: Friday, March 06, 2009 8:47 PM
> > Subject:
> [2cylinderhondas] Classic Car Insurance
> > I am finally
> getting around to putting my 1972 Z600 coupe on the road. I was wondering > which classic car insurance company would be most recommended? I am not > planning to use the car as a daily driver. I have a copy of Hemmings Motor > News, but would like to hear from other group members as to which company > supplies the better services. Thanx and I await your responses.
> > Dave
> Kohn
> > Long Island,NY