Need help with insurance valuation

[DewChugr]

I am close to driving this and working any issues out before it gets bodywork and paint. I’m mostly looking for a finished value but as is value could be helpful. When I insure it about all that needs to be done is the interior, seat covers in progress from legendary, new top, body and paint. I’ll just add my copy paste list of things done. I’ll probably miss a few things. I haven’t seen similar build and condition Cutlass cars for sale. Chevelles yes, but they bring more money. I’ve tried the Olds forum and facebook page with no love. They shun ls guys. Links to any similar cars for sale or sold would be very helpful.

Axles tapped for 1/2” threaded studs
18” wheels
C6 corvette brakes
Front Kore3 brackets
Rear 2002 Camaro backing plates
Custom NiCop brake lines
Wilwood brake proportioning valve
Tanks Inc tank for fuel injection
Custom designed and cut fuel pump spacer
Walbro 450 e85 compatible fuel pump
Vibrant -6 PTFE fuel lines
Vibrant -6 fittings
GM flex fuel sensor for e85
Jeep Grand Cherokee power steering box
Dorman power steering pulley from Pontiac G6
All new polyurethane suspension bushings, except two which are rubber
All new body mount bushings
All new steering parts
New shocks
Chevelle front sway bar with poly bushings
1979 Trans-Am rear sway bar with poly bushings
Champion radiator for manual car
Champaign dual electric fans with shroud
Auto AC Solutions AC condenser
Shiftworks shifter adapter for 4L80e transmission



Engine is a 2010 Silverado 6.0 short block with TBSS intake, cam and truck accessories.
Holley mounts, oil pan, transmission crossmember used
Ceramic coated headers
Dual exhaust with Spintech 3000 mufflers
Factory e38 ecu and t42 transmission controller
4L80 transmission rebuilt to handle 700hp
Circle-D 3200 torque converter
Tuned with HP Tuners for e85
BP Automotive engine harness
Door hinges rebuilt
Changed rear to limited slip and .373 gears
Lowered 2”

Frame had a few mount holes repaired and was powder coated. Checked out square
Floor had a couple patches as well as the trunk
Floor painted top and bottom
Firewall painted
Engine and accessory brackets all painted
Wheel well liners painted
Small area under passenger door weatherstrip rusted out was rebuilt
Car will be painted original Viking blue maybe with some metallic.
Re-doing seat foam, covers and plastic from legendary. Covers are about 6 weeks out.

[boss_hoss]

Hagerty now has "Vehicle under construction coverage." might be your best bet talking to them and see what they say. Like you said not many comps, but Olds, Buick and Pontiac always take a significant hit compared to chevy for what is essentially the same car. Looking at bring a trailer similar Cutlass convertibles with fairly stock restorations start in the low $30s. With all the upgrades plus the LS swap your probably looking at mid to high $30k to low $40k range assuming it's all done well. If it were a 442 convertible or a Chevelle convertible the sky is the limit, but when it comes to the big money the trim tag matters.

also depending on what insurance, you are going to use, until paint and body work are done a lot of insurance companies will not want to insure it for much regardless of all you hard work because most of their valuation is based on photos. Make sure you have all your receipts in order and organized so you can provide that to your insurer to show your investment.

[DewChugr]

Thank you, that is helpful.

[JLMounce]

I agree, this needs a construction policy. As it sits, this car would be hard to value anywhere near what you've actually put in it.

The list you provided is extensive and I think you've got a good mix of parts in there, but most of it is stuff the car has to have.

The transmission for instance. That's a nice piece that's been built, but in the car's current state, it's basically useless for adding any amount of value.

This is a car that is undergoing a mechanical restoration with OEM+ level parts, and a body/interior that looks to need a decent amount of work. It's harsh, but in my opinion, this car is not yet valued on the sum of it's parts. It's worth more in pieces than it is together.

When the body work, paint and interior is complete, this could easily be a car that sits nicely around 40K. Maybe higher to the right buyer, but right now It's probably worth 10-15K as it sits. If your plan is to drive the car to enjoy it while you're completing those other pieces, you'll likely have to do so under the knowledge that it's likely not possible to insure the car for what you have in it and you could take a bath if something happens.

[DewChugr]

Thanks for your thoughts on this

[dontlifttoshift]

Here's my hot take.

It doesn't matter what it's worth to anyone else. Insure it for the value it has to you.