The insurance man is coming over...any advice

I know we have covered insurance in the past here. My State Farm agent is coming over to see the Speedster and get the ball rolling on insurance.

What are some key questions that I should ask?
How should I calculate a "fair" value of the car?
- I know exactly how much money I spent in materials and I can estimate labor hours. But, lets say I had Vintage, IM or JPS build a similar car, what would it cost?

Whould it be safe to say that a pro would have a 20% discount on materials? 25% savings in time (because I'm a hack)times $30/hour?

My head hurts...

Jerome

Have the car appraised by a "certified" appraiser; most insurance companies will accept that value.

You will want insurance coverage that will replace the car if something happens to it. For these cars, a stated amount policy is usually best, where you tell the company what the car is worth.

Typically, they want pictures and some documentation to prove the value. Since you don't have a bill of sale, information of the cost of a comparable car might help. JPS has flared speedsters on their web site and giving them a copy of that may help.

One other thing you might consider is lay-up time. If you will not be driving the car all year, some companies will give you a reduced rate over the winter - kind of like with motorcycles.

Good luck - purchase of insurance can be nerve wracking. Consider getting some competing quotes to help make yourself more comfortable.

Jerome, I agree with George...get it appraised (insurance companies usually have appraisers that they use).
Ron

Jerome: What happened with your insurance?

Robert,

He's not coming till the 1st.

Stay tuned...

Jerome