Hi all.
My Insurance covers my car up to the blue book value (which ain't much) but they have given me the option to get additional coverage in the event of a disaster befalling my car and I was wondering how much additional coverage would be worth while without paying too much.

The Details
Year: 1991
Make: Z28
Color: Black
Trans: 5 speed
Mileage: 40K
Condition: Very Good (Never Raced)


Add ons
Avital Alarm System & Power Lock Solonoids
Yokohama Zs


RPOs
AJ3, AM9, AR9, BI8, B34, B35, B84, C49, C60, DE1, D34, D35, D55, D8M, D81, E5Z, E9Z, FE2, GU6, G80, G92, IPC, J65, KC4, K68, LB9, MK6, MM5, NA5, NP5, N10, N64, N96, QLC, T96, UB3, UM7, UQ1, U79, VAN, V73, Z28, 1AY, 15B, 17P,
19C, 19I, 19Q, 199, 41U, 9NL

I am paranoid ever since one of my earlier cars was stolen and gutted for parts and I took a bath on the claim.

Misc.
2nd Owner (bought Nov '98)
Original Sticker Price $17 500 08/11/1990

*Note
I know right now in the event of a claim Allstate won't give me more than 4500. If I wanted something comparable how much would I have to spend today? From this I can tell my agent how much additional coverage I want.

Much Thanks
Robin McAninch

 

well from what i have seen around me you can get may be $6000 to $7000 for that car. i have seent them that high and if its as nice as you say then yea you could sell it for that. so i would get more coverage. May 79TA is insured for $6500 now i know thats a classic but maybe there is insurance availible like that for your car. i not very sure on all this all i know is $4500 is nothing. i would definetly want more than $4500 if something happened to it.TINFY

 

The best way to figure what it's replacement value is is to compare it to other cars for sale around the country. Autotrader.com and Hemmings.com are a good place to start.

My car has been insured at book value but my agent asked me to get lots of pictures and advertisements of what others are selling their similar cars for. Book on my car is around 5k but a $21k new 87 Iroc with 7k miles sells today for around $15-17k. My insurance agent said that with proof, he'd replace my car for replacement cost, not book value. State Farm won't allow me to get additional coverage on the car without an appraisal. Appraisals say my car is worth only $8k since it doesn't meet "Collector Status" yet.

Check out my site for links to auto dealers that might have more to compare with.

Scott

------------------
87 IROC 350 TPI with less than 10k original miles
www.users.uswest.net/~smoyer/iroc.htm

 

This is odd...a car like that was just in the Auto Hunter about a week ago!! No lie...black '91 Z28 305 TPI 5 speed, 40k miles...it was selling for $8,000, and judging from what I have seen, it was worth it!!

I was (and still in a way am) considering buying a friend's '91 Z28 350 that he is trading into my dealer for a new Formula. With 90k miles on it, and full power, the Kelly Blue Book value was $6,900...certainly your car is worth a good deal more than that!!

Hope this helps...

 

Thanks for the advice. I must not tell my wife. She has been on me to sell the car since I bought it... something unreasonable about not being able to drive a stick... I would only go buy a new one.

Robin