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NutmegCT

NutmegCT

Great Pumpkin
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A guy I know bought a 1959 MGA 1500 as a project. Once he got it apart, he was overwhelmed, and sent it to a shop. Shop put in over 800 hours returning the car to "just out of the factory" appearance. Must have cost a pretty penny - but it was a great restoration job.

Here are some pictures:

https://picasaweb.google.com/colhogan4/HoganS1959MGA1500

After over a year, he finally got it back home and took that beautiful MGA out for a drive. But he hit a deer and wrecked the car first day out. It's now "back at the shop".

Not good.

Tom
 
Ouch! :frown:
 
no fun - though at the end of the day metal can be replaced. People can't
 
I would have cried... shamelessly.

m
 
800 hours. <GULP> :laugh:
 
Lets see...800 hours at a conservative $65.00 an hour = $52000.
 
ObiRichKanobi said:
Lets see...800 hours at a conservative $65.00 an hour = $52000.
Click to expand...

If there was ever a time for an appraisal it is now.
 
Interesting question. Would any insurance company approve a valuation based on the total cost he paid to restore the car?

Am I missing something? Do insurance policies (standard or classic) agree on a "whatever you want the value to be"?

I realize the premium is based on the valuation, but would the original restoration cost be considered the "value" of the car?

Thanks.
Tom
 
Haggerty always takes your number and ask if you want to bump it up

It is what it would take to but it back the way it was
 
Ah, but what we have here is a classic "pre-existing condition" and no amount of insurance is going to cover it (referring to the car when first bought). I'd surely cover it, now, for the full amount he has into it (as Haggerty will likely allow).
 
He should have re- valued the car after it was finished.
If it was insured by a collector car type.
If it was a regular company ,he was a fool (just an expression)
 
Mickey Richaud said:
Ouch! :frown:
Click to expand...
Maybe "DOE!" is more fitting.
Too bad, beautiful car... hope it works out for him insurance wise.
 
ObiRichKanobi said:
Lets see...800 hours at a conservative $65.00 an hour = $52000.
Click to expand...
$65/hour in Conn. is very conservative... emphasis on very!
 
Reminds me of a guy I went to college with, had a 442 Olds he spent a bunch of time and money on. First post restoration drive got T-boned on the passenger side by a fellow running a stop sign, with no insurance. He go some of the value back but not all and the car was a writeoff.
 
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