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TOPIC: Insuring The Car

Insuring The Car 4 years, 9 months ago #1

  • mark79
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I would imagine that insuring a classic car is slightly different than insuring a newer model car, due to the older age of the car and the absence of many of the safety features that are now considered standard. However, I would like to know if insurance companies take the restored value of the vehicle into account when offering an insurance policy. Does it matter how much money I put into fixing my car? Does it matter how much it's worth upon restoration?

Re: Insuring The Car 4 years, 9 months ago #2

  • johnjohn
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I haven't taken an insurance policy out on my car yet to know for sure, but I would imagine they take the value upon restoration into account, because theoretically, that's what it would cost for you to replace the car if it were ever totaled.

Re: Insuring The Car 4 years, 9 months ago #3

  • DartsKing
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I think these car insurance companies have tables that say how much a given vehicle is worth based on its condition. Then, they have qualifying factors to determine which condition it's in. I think they pretty much just go by the tables.
Last Edit: 4 years, 9 months ago by DartsKing.
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