We moved to Michigan and have to get new insurances on our cars anyways, but doing something that nagged me in the past came up again, namely that in case of a loss I can only expect to get around $1000 for our CRX HF which is in great condition and has working AC and which I believe has a replacement value (if you are patient enough to find one again) of around $4000-$5000. So I was wondering if anyone knows an insurer taht will let you do a stated insurance (possibly with a professional appraisal) and that is still halfway affordable?
the cars prolly near 20 years old and i dont know about michigan but i do know that at 25 years old in IL you can get antique insurance and plates, that i do know you can set a value of the car that you and insurance agrees upon. they typically require you to send photos and or have a guy come out.
if you do happen to find an insurance co that lets you agree upon value of the car im betting those rates would be sky high. Alot of times they dont really look to much at the type of car nor how much it would cost to repalce it/find another in equal condition.
heck KBB lists my chevette in excelent condition value of $400... yea i know they werent expensive to begin with but if you think about the rarity and what thier going for (see em for $500- $1500) and all the parts ive put into it its the same deal.
lol KBB used to go back far only goes back to 1988 and only lists 3 hondas...