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Reply to "Insurance during restoration"

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Originally posted by JFB #05177:
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Originally posted by garth66:...
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Is that because my estimate to get it back together is too LOW Confused

Rolling on the floor laughing at the "minus" $60K comment. Sounded like you were making a joke about how much you've spent on it beyond what you thought it's worth. Maybe I just misread that statement.

I just upped the coverage on my Pantera to $70K. A fellow PCNC member had his insured for $50K a few years ago and had an accident. The repair estimate came in at $48K to fix it properly. Hagerty wanted to write it off, but my friend determined that spending the $48K to properly fix his car would result in a far better car than he could buy for the $50K replacement value of his insurance coverage. His car had a number of other mods and upgrades including a supercharged 5.8L quad cam engine. Hagerty paid for the repairs and as soon as they were complete, he upped his coverage to $100K. Hagerty had no problems with his new valuation either.
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