09-08-2014, 09:15 PM
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#11
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Senior Member
Join Date: Sep 2013
Location: Windy City
Posts: 937
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Re: Actual Car Value
I fully understand insuring for actual replacement cost, what YOU may personally have in a restoration, but what about this scenario.
A guy has a very, very nice '29 Tudor. Agreed value set at $15,000. Now, if the car is totaled and you take the 15 grand, couldn't you go out and buy ANOTHER really nice '28-'29 Tudor already finished for the same maybe even a little bit less money? And maybe you wouldn't want to fully restore the car that got clobbered anyway? Seems like there is no shortage of very nice Tudors in the $12,000 price range.
Just looking at it differently. The insurance game is a game of chance anyway. And was it worth dumping $65,000 plus into a car that's worth maybe $15,000 tops when you're done?? Any accountant/economist would have us locked up for looking at money that way and we're all guilty to some extent.
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