Posted by Kevin in Ohio [50.102.41.28] on Friday, March 08, 2013 at 11:42:23 :
In Reply to: 1962 WM300 posted by bob [174.57.199.161] on Friday, March 08, 2013 at 07:52:06 :
As Keith said, once you're done have it appraised and go the the "stated" or "agreed" value option. Appraiser value will be given if a total loss with NO depreciation. Most insurance companies REQUIRE this using one of their approved appraisers.
On a side note, not a bad idea to get a little coverage while you work on it either. Especially if your subbing some things out or storing parts outside.
Just had a friend with a numbers matching GTO have the unthinkable. He was doing a frame off and had the body on a spinner in the paint booth. Motor is done a detailed and was storing the numbers matching frame in an enclosed trailer with ball lock. They stole the whole trailer and it's been 2 months with no sign of anything.