Mecum KC ZR-1s - Page 2 - ZR-1 Net Registry Forums

XfireZ51 · 03-13-2011

Lee,

What was the color on that one? Also, my insurance company is looking for an appraisal. Any suggestions on where to get an industry accepted #?

LGAFF · 03-13-2011

It was blck/blck....as far as appraisals, it depends on what your company requires. They may have a local guy, I know Volo Museum used to do them. They run $50-$100 usually, we only required them if they were more than 10$ over the ACV listed in Collector Car NADA or KBB

Paul Workman · 03-13-2011

Quote:

Originally Posted by XfireZ51

Lee,

What was the color on that one? Also, my insurance company is looking for an appraisal. Any suggestions on where to get an industry accepted #?

Dom,

I'm working a deal on mine - stated value policy, Looks to be approx $461/year with good coverage, towing, etc. etc. (not track coverage, how some ever...) no appraiser required. PM me if you're interested and I'll put you in touch w/ my guy.

P.

A1990 · 03-13-2011

An Agreed Value policy guarantees the policy will pay the full insured amount of the vehicle with no depreciation in case of a covered total loss. A stated value policy does not promise upfront to pay this stated amount. In the event of a covered total loss, it may pay less than the stated amount, as the insurer has the right to pay the lesser of your collector car's depreciated actual cash value (ACV) or its replacement cost. Also, many insurers that offer stated value policies require periodic appraisals to substantiate the insured amount, adding cost and inconvenience to the client.

A26B · 03-13-2011

Quote:

Originally Posted by A1990

An Agreed Value policy guarantees the policy will pay the full insured amount of the vehicle with no depreciation in case of a covered total loss. A stated value policy does not promise upfront to pay this stated amount. In the event of a covered total loss, it may pay less than the stated amount, as the insurer has the right to pay the lesser of your collector car's depreciated actual cash value (ACV) or its replacement cost. Also, many insurers that offer stated value policies require periodic appraisals to substantiate the insured amount, adding cost and inconvenience to the client.

Right on!

Paul Workman · 03-13-2011

Quote:

Originally Posted by A1990

An Agreed Value policy guarantees the policy will pay the full insured amount of the vehicle with no depreciation in case of a covered total loss. A stated value policy does not promise upfront to pay this stated amount. In the event of a covered total loss, it may pay less than the stated amount, as the insurer has the right to pay the lesser of your collector car's depreciated actual cash value (ACV) or its replacement cost. Also, many insurers that offer stated value policies require periodic appraisals to substantiate the insured amount, adding cost and inconvenience to the client.

Ah! Good to know the semantics! I'll take that up with my insurance guy tomorrow, as drivin' time begins, soon as the salt dust is washed off the roads.

This is a great board. Thanks for the clarification!

P.

Brillo1990 · 03-16-2011

Quote:

Originally Posted by LGAFF

Get Ready to puke:$18K

Approx. 18,000 original miles
- Both tops
- All receipts & original window sticker
- Original paint
- Power steering
- Power brakes
- AM/FM, CD/Cassette player
- Power seats
- None nicer

That sucks, I guess the economy is worse than I thought it was or everyone is trying to steal the Z's. Oh well I plan to drive mine anyway, I didn't buy it for resale value anyway.

XfireZ51 · 03-16-2011

Dennis,

Thanks for the clarification.

Paul,

Keep me posted.

mike100 · 03-16-2011

I bought mine because I wanted it...I'm pretty sure I'm going to lose money on this one. I actually almost broke even on my last LT1 6-spd. Drove the rear tires off it, through the rain, dirt parking lots, and whatever for a year and still got back all but $500 of my purchase price.

Maybe in 10 years- I've never kept a car that long though.

03-13-2011	#11
XfireZ51 Join Date: May 2007 Location: Chicagoland, IL Posts: 9,700	Re: Mecum KC ZR-1s Lee, What was the color on that one? Also, my insurance company is looking for an appraisal. Any suggestions on where to get an industry accepted #?

03-13-2011	#12
LGAFF Join Date: Mar 2007 Location: Crystal Lake, IL Posts: 7,194	Re: Mecum KC ZR-1s It was blck/blck....as far as appraisals, it depends on what your company requires. They may have a local guy, I know Volo Museum used to do them. They run $50-$100 usually, we only required them if they were more than 10$ over the ACV listed in Collector Car NADA or KBB __________________ LGAFF 90 #966-150K miles-sold 92 #234-sold 1987 Callaway TT #17 1991 ZR-1 #1359

03-13-2011	#14
A1990 Join Date: Dec 2003 Location: Grand Island NE Posts: 1,510	Re: Mecum KC ZR-1s An Agreed Value policy guarantees the policy will pay the full insured amount of the vehicle with no depreciation in case of a covered total loss. A stated value policy does not promise upfront to pay this stated amount. In the event of a covered total loss, it may pay less than the stated amount, as the insurer has the right to pay the lesser of your collector car's depreciated actual cash value (ACV) or its replacement cost. Also, many insurers that offer stated value policies require periodic appraisals to substantiate the insured amount, adding cost and inconvenience to the client. __________________ Dennis Fierstein 90 ZR-1 #2562 Atomic-Z ZR-1 Net Registry Chairman of the Board ZR-1 Net Registry Treasurer

03-16-2011	#18
XfireZ51 Join Date: May 2007 Location: Chicagoland, IL Posts: 9,700	Re: Mecum KC ZR-1s Dennis, Thanks for the clarification. Paul, Keep me posted.

03-16-2011	#19
mike100 Join Date: Feb 2011 Location: San Marcos CA Posts: 1,802	Re: Mecum KC ZR-1s I bought mine because I wanted it...I'm pretty sure I'm going to lose money on this one. I actually almost broke even on my last LT1 6-spd. Drove the rear tires off it, through the rain, dirt parking lots, and whatever for a year and still got back all but $500 of my purchase price. Maybe in 10 years- I've never kept a car that long though.