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  What kind of insurance on new special vehicle programs??

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Author Topic:   What kind of insurance on new special vehicle programs??
sigtauenus
Gearhead

Posts: 2248
From: Va Beach
Registered: Jun 2000

posted 06-24-2003 08:57 PM     Click Here to See the Profile for sigtauenus   Click Here to Email sigtauenus     Edit/Delete Message   Reply w/Quote
I currently have USAA insurance and am quite happy with them (although the premium increase between the 68 and 03 was a heart stopper.)

I haven't checked with them yet on this, but assume for a total they will pay out blue book value.

For the past 5 year or so, have the Cobra's, Bullit's, etc depreciated at the same rate as the standard mustang or GT? What I mean is, since I have a Mach 1, will blue book actually reflect its market value in 2, 3 5 years (collector value, if any)? I'm going with the assumption that if my car were totalled I would want to buy another of the same model.

The reason I ask is that I was checking around kelly blue book, and one of the features they have online is how much the car will cost you over the next 5 years, and it projected roughly 16,000 in depreciation. I can't imagine that this car will depreciate that much, and want to get insurance that will adequately cover the actual market value of the car vice blue book. I'm thinking it doesn't qualify for collector car insurance.

And its been a long day, I'm waiting for a pizza to cook in the oven, and have nothing better to do than sit and worry about my brand new car being represented properly.

Is it overkill or something to look into?

I think for the most part Americans tend to be over insured as it is, and I'm trying not to be one of those.

Hurry up pizza...

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mustangs68
Moderator

Posts: 22551
From: Buckroe Beach Va MCA#39406 M&M #12 Member Mustang Club of Tidewater
Registered: May 99

posted 06-24-2003 09:10 PM     Click Here to See the Profile for mustangs68   Click Here to Email mustangs68     Edit/Delete Message   Reply w/Quote
I can see them depreciation at a percentage equally to or maybe even grater than a GT.
The reason being is the added cost of these models at time of sale most went for MSRP or more.

Maybe in 10-12 years you'll start to see an incre in value but not in the short term.

94,95 & 96 Cobras are going for pocket change around here,but you would think they would be of more value due to the SVT logo on the trunk.

Collector car insurance is only for collector cars the MACH I ,Bulitt, Saleens ect are just editions of the Base Mustang..but in 20 years you can get it

------------------
98% of all Chevys are on the road,the other 2% made it Home


Sam
www.1968mustang.org

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huckleberry
Journeyman

Posts: 14
From: springfield,missouri,usa
Registered: Aug 2003

posted 08-03-2003 12:10 AM     Click Here to See the Profile for huckleberry   Click Here to Email huckleberry     Edit/Delete Message   Reply w/Quote
All cars are a bad investment. If you can afford a cobra you dont care about depreciation. All the rest are prettied up gts.

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