This is a discussion on Insurance/Book "value" within the General Help forums, part of the LSx Technical Help Section category; Just stopped by my insurance agent today to find out if I could up the insurance on the WS6 by ...
09-11-2015, 06:49 PM #1
Just stopped by my insurance agent today to find out if I could up the insurance on the WS6 by $10k once I invest in the engine work/trans/axle/minor body work that I will want to do, so if the car gets totaled, I won't be out all of the money invested. I was told some interesting things.:
1) According to their information, a mint condition WS6 is worth more than $18k (granted mine would not be considered mint"
2) I could up the value, but it would have to be classified as a "classic car" and not used as a daily drive.
3) They told me to hold on to the recipients, and I can use that to get reimbursed a portion of that expense in a case of total loss.
Does any of this sound correct?
09-11-2015, 07:07 PM #2
- Join Date
- Aug 2007
- Greensboro, NC
- 2002 Trans Am WS6 M6
Yup fully I don't daily drive mine so I just went through the same thing a few months ago to get value upped on mine.Mods - Lid, Skip Shift Eliminator, MGW shifter, UMI SFCs, Founders Lower Control Arms, Founders Panhard Bar, Founders Adj. Torque Arm, UMI Torque arm mount, MWC Drive shaft safety loop, KONI Yellows, Strano Springs, Strano Sway bars, UMI Upper and lower A Arms, 160 thermostat, TSP headers and TSP true duals Monster stage 2 clutch, racetronix fuel pump, Strange S60 rear axle and tune by Frost.
09-12-2015, 05:35 AM #3
09-13-2015, 09:01 AM #4
- Join Date
- Jun 2011
- Branchville, NJ
Silver & Blue
- 02 Camaro SS, 04 GTO
That's correct for full reimbursement on a loss with any insurance unless you have "Agreed upon value" insurance from companies like Haggerty.My ride is a 2002 Camaro SS SLP #3296 with 30k, LTH, 3" Y, CME, Frost tune, K&N, ported TB, Blackwing lid, Bellows, MSD, Denso Iridium, and 85mm MAF, Bilsteins, Eibach springs, SLP strut brace, Adj. Panhard, TA Girdle, UMI, Pro 5.0, Nitto NT555
My wife has a 2004 GTO with the rare SAP, 18" wheels, K&N Cold Air System, MSD, Ported TB, Frost tune, Denso Iridium, Flowmaster cat-back, 3200 Yank, 75k
09-13-2015, 10:15 PM #5
Haggerty will actually let you daily drive yours (at a higher premium, of course), but I just went through something with my Z.
I had GEICO at the time, and on the DAY that I got it back from the shop with $11K worth of work into the engine, I crashed it. I gave the adjuster the invoice and they fixed my car free and clear, though the "damage" was assessed at about $3500, which I don't think would have totaled it, even without the recent work. But they did say that they would consider the recent costs I had incurred. The car was otherwise in great shape, with the typical seat bolster wear and a little bit of paint imperfections, but nothing serious.
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
By wileyCoyote in forum Political / Debate ForumReplies: 4Last Post: 08-26-2015, 11:11 AM
By wileyCoyote in forum Political / Debate ForumReplies: 0Last Post: 07-06-2015, 04:01 PM
By wileyCoyote in forum Political / Debate ForumReplies: 0Last Post: 10-31-2014, 04:07 PM
By wileyCoyote in forum Political / Debate ForumReplies: 7Last Post: 10-24-2014, 05:44 AM
By grandkodiak in forum Almost Anything GoesReplies: 3Last Post: 08-14-2007, 12:11 AM