[Zmagnette] Magnette values and stated value for insurance

[Steven Trovato]

I have a ZA and an MGA.  I wonder how many people have a Magnette and 
an MGA.  I've definitely heard of others.  As for insurance, have you 
had a classic car insurance company refuse to insure for your stated 
value?  I have found them to be pretty flexible, but I haven't tried 
to request anything too crazy.  I think the only reason for them to 
hesitate is that they don't want you to be able to put a match to it 
to make a profit.  I bet there are people on this list who have their 
Magnettes insured for 25K.  I am just guessing, though.  I suppose we 
will get some data points shortly.  Has anyone had an insurance 
company refuse to give you as high a stated value as you wanted?

-Steve T.



At 07:20 PM 10/25/2013, Mike wrote:
>SteveT, I'm with you except for one thing - value for repair or 
>replacement after an accident or other incident.
>
>If nice Magnettes were trading at around $10K, while they cost 
>upwards of $20K to get to that condition, you can be in a bind even 
>with a stated value policy. Is your underwriter going to go for you 
>asking for $25K of coverage for a car that trades for $10K? Perhaps not.
>
>But if the cars are trading in the $20K range, or to put it another 
>way, trading at a price that approximates what it would cost to 
>duplicate the car, getting them properly insured becomes easier.
>
>I'm not even going to consider the super-deluxe cars out there, the 
>ones with A/C, breathed-upon motors, and so on.
>
>I don't think the sedans will ever be as popular or pricey as the 
>sports cars, for all the same reasons that the sedans were widely 
>outsold by the sports cars when they were new. I've never really 
>understood that, but that's how it is. I have both a ZB and an MGA, 
>and the ZB is the much nicer (& rarer!) car. Go figure.
>
>Mike