I was reading another thread about appraisals and agreed values and it got me to thinking about my insurance on my 69 mustang. I've currently got it insured for $7.5k agreed value. Thing is when we set that value, the car was undergoing a restoration. I've done alot to the car and think it is time for me to adjust the agreed value. I am probably biased though so thought I would get some help from you guys on what a fair current agreed value would be.

Details:
1969 S code mustang coupe
390 4 barrel
holley 750 dbl pumper
performance cam
headers and dual exhaust
slotted front power disc brakes
summit racing legend wheels w TA radials
driver quality base/clearcoat paint job

pics

 

You should probably get an appraisal. You and YOUR insurance company may agree on what they pay you but if another guy hits you HIS insurance company may pay you $3000 and say sorry. If you have an appraisal you have something to argue with to get your money.

 

You should get a professional appraisal. Don't be surprised, though, if some of your modifications decrease the value, such as the black striping or the yellow stuff in the engine compartment, or this stuff:

holley 750 dbl pumper
performance cam
headers
slotted front power disc brakes
summit racing legend wheels w TA radials
driver quality base/clearcoat paint job

The lack of original air cleaner and carb, for instance, is a $1000 hit.

 

humm, I was not trying to make it a show car so just going for a nice weekend driver. So given the changes I made, what do you think the agreed value should be? I think they only made around 900 S code coupes in 1969 so if I tried to replace mine, it would probably be hard to even find one.

 

I agree that you should get it appraised but, that will only give you somthing to argue with. Don't take this wrong but, it's only a basic coupe. The insurance don't have to replace it with an exact copy....only something "equivelant".


Anyways....I would think it would appraise around 8-9k.

O.T. but, I would upgrade that rear valance to the "GT" valance, and extend those pipes a bit.

 

That's exactly why you don't want to put it on your normal car policy. Get a policy for classic/custom cars with an agreed value. They price the policy according to the stated value and in a total loss, that's what they pay - period. Now if someone hits you and totals your car, that's another story. Then the appraisal will give you something to argue with against his insurance company.

 

Well, a LOT depends on condition of the chassis and body, any rust, quality of repairs. Using only photos, it would be hard to get within $10k.

Your modifications are fine, but do not enhance, and probably reduce, the value. I hope you didn't throw away the original air cleaner or carb.

Rarity does not necessarily mean value, although any S code is desirable.

I just saw a 69 S code GT coupe this week. It's been years since I saw another.

 

Today's classic car market is as soft as it ever will be. This 69 is worth around 10k, unless there's probs not mentioned.

The rear tires look like 245s. Nice rubber if it doesn't rub. Before selling, I would paint out the c stripes. A personal effect, but not part of any 69-70 paint scheme, and may not work for many people. I would go a step further and return the car to Wimby White instead of the refrigerator white repaint it has now. Also, to be picky, the 3 bar fender emblem is from an older model, not '69. Nice resto job, though.

In 5 years, this car will be worth a few Gs more. The current market is killing the value. Good luck.

CP

 

around 10k is what I was thinking too. Good to hear some confirmation on it. My insurance company said it is no problem to adjust the agreed value as I restore it and I have about 2.5k in new stuff on it so think I am going to ask that the value be bumped up to $10,000.

Thanks for the comments and suggestions on the car too. I realize alot of the resto stuff isn't original to the model but that is ok with me. I don't have plans to do contests with the car, just a fun power cruiser. I did keep most of the original stuff and could always put it back that way if I ever decide to sell although right now, I am enjoying being able to drive it and enjoy it while I continue with the cosmetic stuff. Interior still needs lots of stuff but I am in no hurry to finish. I just do it a little at a time.

 

Did you at least offer to buy it? You hardly see any of those out there.