2000-2007 Insurance Value

[R3 Forward]

I own a 2007 Mustang based Avanti and am attempting to get classic car insurance for the car. I have 4 other cars with this insurance company and told them I thought the car was worth 30 to 35K. They are asking where I came up with that number as they have no information on the car. Do any of you have your vehicles covered by classic car insurance and if so, would you mind sharing your insured value? Or if not, what do you think your car is worth.

Thanks,

[Gunslinger]

Most classic car insurers won't issue a policy for so new a vehicle but they do make exceptions. When I bought my '02 Avanti (i'm the original owner) I talked to American Collectors Insurance since I already had a '69 and '78 Corvettes insured by them. They told me while they normally don't insure vehicles that new, they would cover it as I was already a customer and the car would be subject to the same driving limitations as the other cars. Now I still have the '69 Corvette but have since sold the '78 Vette, having replaced it with a '70 Avanti.

As far as value, American Collectors insured the car for $55k and it hasn't changed other than the inflation clause in the policy. As far as what I think the car is worth, I doubt it's worth nearly that much...I've watched the eBay auctions when one might be listed and they don't sell for nearly that much...if they sell at all. Theres too few out there...too few on the selling market...and too few people even know they were even built. They're really a blip on the automotive scene at best. Older Avantis are far more remembered.

[R3 Forward]

Thank you for the information. I am working with American Collectors as well and they have quoted me the best they can do is $30K. I will ask them to look up in their own records for a '02 Agree the value is shaky as nobody knows what they are, but they sure do turn heads when you drive them down the road. I also have a '63 Avanti insured with them as well as a 72 Volvo 1800 ES, '67 Camaro and 68 Firebird, so they should like me...

Thanks again....

[Pat Tucci]

We've got our 2006 insured (as a 2005 Ford) through Grundy Worldwide. The insured value is basically what we still owe on the car, so it's less than what it's worth. I think that the retail value that you've estimated for your car seems about right.