A friend of mine who is a professional vehicle detailer has a 1969 Mustang Mach 1 that he's owned since it was new. The car is beautiful. A few weeks ago, he called me up. He said that he was in the process of renewing his collector car insurance and the insurance company told him his car's current value, with factory options, was in the $65,000 range. They wanted to know if he wanted to increase his coverage. He had the car insured of course . . . for $14,000!
If you're facing the same situation, you might want to check our 2009 Collector Car Price Guide book that just came back from the printer and has the very latest prices. Information about this new product is available at www.krausebooks.com.
Now, this isn't the "hard sell." If you have a good idea of what your car is worth, you may not need the book. But if you're like my friend, a little behind the curve on the latest collector values, you might want to peek at this guide before your insurance policy renews. In my friend's case (which I'll admit is extreme), his car was worth more than four times what he had it insured for.