I just bought a 1973 broco that had a frame off restoration. Apparently everything is original except for the dash and the 351 windsor with a whipple charger. It has 600 hp. This thing is in mint condition. I am needing to get an appraisal for the insurance company. I have looked online for something comparable and have not found anything close. Supposedly the previous owner spent over $50k building this thing and even has an appraisal from 2003 of $70k. Thats a far cry from the $15k we paid. Anyway, I need a contact in the Cincinnati area that appraises classic cars. Anyone have any suggestions.
Appraisal
- Thread starter Divet
- Start date
Disclaimer: Links on this page pointing to Amazon, eBay and other sites may include affiliate code. If you click them and make a purchase, we may earn a small commission.
Welcome Divet..,
And WHAT...??
I could insure mine for 100k thru my ins. co. if I wanted to pay those premiums.
---(Actually., I appraised my own with/for ins. co. as I know more about an EB than ins. co. & appraisers.)--
Forget the build cost., & outrageous old appraisal.
Remember we live in a world of liars these days..!! ... :^o
AND..., I didn't hear you say "600HP" did I..!!! ?
Having said that..,
Most any ins. co. has a form for appraisals. They usually have a shop, dealer, or body shop that does their appraising.
Tell them it's "stock" (see., we're lying here...) with a few up grades...he will likely ask YOU what you want to appraise it at.
Go ahead & pick @ 15-20K but the higher you go ., the higher the premiums.
Some Co's have a really low premium for classics. (that's what I have)
IF you tell them it has 600hp...they will likely boot you out the door...!!!
I doubt the drive-line etc., would hold up to 600hp. YOU SAID., "Apparently everything is original"
HTH
Bob
And WHAT...??
I could insure mine for 100k thru my ins. co. if I wanted to pay those premiums.
---(Actually., I appraised my own with/for ins. co. as I know more about an EB than ins. co. & appraisers.)--
Forget the build cost., & outrageous old appraisal.
Remember we live in a world of liars these days..!! ... :^o
AND..., I didn't hear you say "600HP" did I..!!! ?
Having said that..,
Most any ins. co. has a form for appraisals. They usually have a shop, dealer, or body shop that does their appraising.
Tell them it's "stock" (see., we're lying here...) with a few up grades...he will likely ask YOU what you want to appraise it at.
Go ahead & pick @ 15-20K but the higher you go ., the higher the premiums.
Some Co's have a really low premium for classics. (that's what I have)
IF you tell them it has 600hp...they will likely boot you out the door...!!!
I doubt the drive-line etc., would hold up to 600hp. YOU SAID., "Apparently everything is original"
HTH
Bob
Last edited by a moderator:
With that much horsepower, we are having trouble with the transfer case staying in gear. I need to get that looked at. When you "punch it", it has so much power that it will pull to the side. I am going to put it on a dyno someday and find out how much hp is to the wheels. Back to the insurance... I had talked to my agent and he mentioned a certain standard where the bronco would be used for shows, parades, nice day drives, etc. and being insured for $50k the premium was only going to be a couple hundred a year. That sounds awesome to me. But I still need to get him an appraisal. I will keep looking around here.
What did you buy it to do..?
----"shows, parades, nice day drives" This may be the best place for it... ^_^ /emoticons/[email protected] 2x" width="20" height="20" />
Because.., if you run it into a ditch or wrap around a tree (when you "punch" it).... or it gets stolen.,
I guarantee., you'll be lucky to get 4k fr. the ins. co.
/emoticons/[email protected] 2x" width="20" height="20" />
----"shows, parades, nice day drives" This may be the best place for it... ^_^ /emoticons/[email protected] 2x" width="20" height="20" />
Because.., if you run it into a ditch or wrap around a tree (when you "punch" it).... or it gets stolen.,
I guarantee., you'll be lucky to get 4k fr. the ins. co.
/emoticons/[email protected] 2x" width="20" height="20" />
Last edited by a moderator:
Find an auto club and get the info from one of those guys on appraisers. The other thing, I would use Hagerty for your insurance needs on something like that. They specialize in classic car insurance and will also be able to give you a name of an appraiser. Or, you could do what I have on my EB. I have stated value. I showed the insurance company my receipts and because I did all the work, I figured my time at $50 an hour, which is what shop rates were at the time, and I gave them a value as to what I wanted it to be insured at. Which is $15k right now. I pay roughly $400 annually for my insurance & if the garage door falls on it, I get that value out of it. The only draw back is that I use mine as a daily driver & weekend warrior, so they said if I wrap it around a tree, then it falls under the pretense of an ACV policy, which would be in the neighborhood of about 4k, like Bully Bob said. But for a show truck that has potentially that much value, I wouldn't use anything but Hagerty or maybe Chubb insurance.
