80LS1T Posted October 12, 2008 Share Posted October 12, 2008 My insurance company has been bugging me about getting my car appraised for some time and I finally got it done yesterday. My car was insured under regular full coverage for a 1980 280ZX which was $37/month. Now that's its appraised it will go under collector car insurance and it will be............$11/month! That's coverage for the full appraised value. Now the place I took it to was a small business but after talking to him for a while I think he knows his cars. He seems to do mostly old muscle cars but he did have a 1981 280ZX 2+2 with aftermarket turbo system! He couldn't remember what the name of the system was but it was not factory. When we went out to look the car over he really really liked the paint. He thought the paint job was great which surprized me because I see every little flaw in the paint but I guess I know the car better than him. Then I popped the hood......hehehe........yeah he was really blown away by the LT1! First question was "how fast is this thing?!". Then he asked me a few more questions about what was done to the car and how much did I have invested in the car. Then we went inside again and he got out his appraisal books. He told me an excelent condition 1980 280ZX in stock form was worth about $8300. Then he did some figuring and told me my car was worth about $24,000! I was so happy because I wanted it to be at least $20,000 and $24,000 was way better! Now at least I can drive around without worrying about "what if something happens..." Not to mention my insurance went down! Guy Quote Link to comment Share on other sites More sharing options...
RB26powered74zcar Posted October 12, 2008 Share Posted October 12, 2008 Nice going... it's definitely worth that! Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted October 12, 2008 Share Posted October 12, 2008 Well, I agree, I saw your car in person, and it does look like a 24,000$ car. Congrats, and +1929595 for getting lower insurance premium. I can't believe they didn't use that as an excuse for RAISING it! Quote Link to comment Share on other sites More sharing options...
janaka Posted October 12, 2008 Share Posted October 12, 2008 I was in the same boat as you, got appraised at 22k for my 280z. I pay $15/mnth myself. lol good times Quote Link to comment Share on other sites More sharing options...
80LS1T Posted October 12, 2008 Author Share Posted October 12, 2008 Thanks guys for the nice comments! I think the insurance is lower because its a "pleasure vehicle" and not driven as much as a daily driver. Either way it works for me! Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted October 13, 2008 Share Posted October 13, 2008 Very nice. Make sure you read the fine print...or have a lawyer do it for you. Some of these companies are really sneaky. I don't doubt you have a reputable company there...just a note to CYA. Does it cover the video you have linked in your sig? I would hate to see you ever lose that beauty. Quote Link to comment Share on other sites More sharing options...
slownrusty Posted October 13, 2008 Share Posted October 13, 2008 Guy, your car is outstanding and worth every bit of $24K if not more. Congrats! For everyone on this board, you should all get you car appraised as we have all spent a tremendous amount of money (not too mention time) on our cars. Then to have some idiot in a Neon smash into our car and only get a check for an old book value, truly hurts, so do it now!!! Its worth the $100 or so. I have my '83 ZX Turbo appraised for $18K with Haggerty classic car insurance. Regards - Yasin Quote Link to comment Share on other sites More sharing options...
Guest 280ZForce Posted October 13, 2008 Share Posted October 13, 2008 i'll definitely be going this route of appraising once Zaira is done.. errr some day or... year. But Guy, definitely worth it as others have mentioned, a beautiful Z well done indeed. Quote Link to comment Share on other sites More sharing options...
Pete84 Posted October 13, 2008 Share Posted October 13, 2008 What limitations do you have on the car with its 'pleasure' status? Mileage cap? Quote Link to comment Share on other sites More sharing options...
MoNkEyT88 Posted October 13, 2008 Share Posted October 13, 2008 Hey Guy, what did it cost, and where did you get your appraisal done? Quote Link to comment Share on other sites More sharing options...
80LS1T Posted October 14, 2008 Author Share Posted October 14, 2008 There are milage limits but I'll never see that limit. I probably only put 6-7000 miles a year. I had it done at... Twelve Oaks Motorcars, Ltd. 477S. Nicolet Rd Suite 6 Appleton, WI 54914 (920)380-9675 I forget the guys name but it was only $50 for me to bring the car there. If he comes to you its $100. This was for a basic appraisal. He does full documentation of vehicle for numbers matching stuff but those are more expensive. He did an old 69' Camaro that was valued at $70,000 for $2500. That one he got the numbers off of everything thing and documented it. Guy Quote Link to comment Share on other sites More sharing options...
jazzsax Posted October 14, 2008 Share Posted October 14, 2008 I have antique or classic type insurance in a Studebaker that is also fairly inexpensive, BUT driving is limited to 2,000 a year AND only to shows and car events (pleasure?). Read the fine print. If yours is 6-7,000 mi. per year that's great. If so, post the insurance company, I would be interested as my '71 is in the restoration process now. Thanks Quote Link to comment Share on other sites More sharing options...
RB26powered74zcar Posted October 14, 2008 Share Posted October 14, 2008 Well I guess I just got hosed... I got a online policy from Hagarty for $20,000 appraised value full coverage for $351.00 yr. They don't have a mileage limit, but do require you to have other vehicles in your name and insured. It's suppose to be only used as a part time, low mileage driven car. I got full coverage with it. Uninsured, medical etc. Now I can cancel the State Farm Liability I had on it, and save the $40 a month that was costing me... Quote Link to comment Share on other sites More sharing options...
JSM Posted October 14, 2008 Share Posted October 14, 2008 Well I guess I just got hosed... I got a online policy from Hagarty for $20,000 appraised value full coverage for $351.00 yr. They don't have a mileage limit, but do require you to have other vehicles in your name and insured. It's suppose to be only used as a part time, low mileage driven car. I got full coverage with it. Uninsured, medical etc. Now I can cancel the State Farm Liability I had on it, and save the $40 a month that was costing me... Mine is insured w/ Hagerty as well for 10K, but mine only cost me $125 a year? I get 5K worth of mileage but never come close to that. Quote Link to comment Share on other sites More sharing options...
RB26powered74zcar Posted October 15, 2008 Share Posted October 15, 2008 Mine is insured w/ Hagerty as well for 10K, but mine only cost me $125 a year? I get 5K worth of mileage but never come close to that. I asked her today, point blank.... do I have a mileage limit? She said no, so I guess I'm lucky. It's not my daily driver anymore, so it doesn't really matter for me... I'm just thankful we are able to get our Z's covered for what they are truly worth! Quote Link to comment Share on other sites More sharing options...
80LS1T Posted October 15, 2008 Author Share Posted October 15, 2008 I told my insurance agent I drove it less than 6000 miles per year and she didn't say that was too much. I will ask her tomorrow just to be sure though. I have mine through State Farm. Quote Link to comment Share on other sites More sharing options...
Armand Posted October 15, 2008 Share Posted October 15, 2008 That's a fantastic surprise. I have a quick question. I am 18 years old but I can't get classic car insurance because they don't allow to insure drivers at my age, even though I have no speeding tickets or accidents. I have standard Mercury insurance, would it still be possible for a regular car insurance company to appraise my car in person? Sorry if this is a dumb question, I need to have a long talk with my parents and figure out how every little thing works. Thank you for letting us know about this by the way. Like you said before, we invest quite a bit of our valuable time and money into these cars, and to know that if something does happen to it god forbid it's good to know we can at least get back all the money we invested in it, maybe more in your case. Quote Link to comment Share on other sites More sharing options...
80LS1T Posted October 15, 2008 Author Share Posted October 15, 2008 The insurance company does not appraise it, a third part does. If your car is worth something I would have it appraised and put under one of your parents insurance. Atleast then it will be covered. Quote Link to comment Share on other sites More sharing options...
80LS1T Posted October 19, 2008 Author Share Posted October 19, 2008 I'm still waiting on all the fine details of my coverage but I have some rough details with "classic car" insurance... 1. I have to run a "classic" liscense plate....no big deal 2. no mileage restriction 3. I can't take coverage off of it during the winter 4. its covered for the stated value of the apprasial If I go with the "pleasure vehicle" insurance.... 1. plate does not matter 2. I can take coverage off of it in the winter 3. no milage restriction 4. this does not gaurantee a stated value of the car and should anything happen to it, the value would be assessed at the time of the damage by using NADA, market value, and condition of the vehile at that time. Obviously I will be going with the "classic car" insurance. I don't want to have to worry about its value later on down the road and have to fight with the insurace company about that value! My agent said the pleasure class might be cheaper but I said I didn't care I just want it covered for the $24,000. Quote Link to comment Share on other sites More sharing options...
Tony D Posted October 20, 2008 Share Posted October 20, 2008 Mine that are driven regularly are "pleasure use" and are ridiculously cheap to insure. The 'sit in the yard' ones are under 'classic car storage' meaning no miles, but if a tree limb drops on them I get a payout. I have 12 cars under that coverage for $200 a year. Formerly I had a rider on my homeowners insurace that covered automobiles not registered, but stored on the property. My storage is through my homeowners policy, how they ended up wit hthe 'classic car storage' terminology as opposed to what I had before is a mystery for me. I think the 'parts cars' were all valued as "Condition 7" 240Z's from the Old Cars Price Guide, something like $2500 a piece. AAA would not insure anything I had that wasn't registered or didn't have plates on it. Became an issue when CA linked insurance and registration and started suspending registration when the car was not insured. For a car that hadn't driven ANY miles in 10+ years, we just paid the $29 annual fees without thinking, then got a notice it was 'suspended' but then couldn't 'PNO' it because it was suspended... Catch 22... I ramble... Quote Link to comment Share on other sites More sharing options...
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