My insurance is coming up for renewal in December and I don't know how much to insure it for. While everyone's opinion of what terms like "nice" mean, I don't think anyone would say my car is not at least a "very nice driver" and is mechanically sound and well-maintained. It is a Euro car with about 24,000 miles. I know it is difficult to say much based on this brief explanation, but does the $100K the insurer says is the "mean" value of a 246GT sound right? I suspect I would have a very difficult time replacing the car for that. That is, if I could find a GT for sale at all. Thanks, Jim
Not sure on the specifics of insurance companies in the USA, but i have just insured mine for £80,000 Doesn't look like you can get any dino's over here too, most are highly restored cars (or supposed to be!!) fetching around £140,000 + and rising After that very little in the ads, so that pushes up the price....supply / demand theory. Get a Ferrari dealer to give you a valuation, then hand it to the insurer. Tony
insure it for $150000.00.the coverage is called agreed value..its not much less is you insure for $125000.00.so i would go for the higher coverage....MO
Hi here in NewZealand i have just covered mine for $250 k NZ and thats the norm here now an agreed value policy is the only way to go or you wouldnt be able to buy another.Australia is now up to $300k aus so draw your own conclusion from that.
Jim- $100K is unrealistically low, and if that's what your insurerer wants to top out at, then time to go looking (eg Hagerty's, etc). My L-series is prob an 85-point car, and I recently renewed my existing State Farm policy for $160K, agreed value. Figuring they might balk at that number, I had gotten a quote from Hagerty (who insures another car of ours) for $920/yr at that same $ value. I pay $448. to State Farm (due to multicar discounts, etc). Your insurer might be more amenable to a real-world value if you could provide them w/ comps (from F-chat, ebay, etc)- eg an L-series, completely disassembled, w/ obvious rust per photos, and who knows r/e missing parts, recently sold on ebay for $85,000! Don't have it now but can prob find the link for you if desired. Hope this helps.
