What's a C10 worth?

[mike's1965]

Today I got the 1965 C10 insured on a classic policy, added it while renewal of my C5 Corvette and PT Cruiser, the truck has been parked since spring of 2012.

I'm to go get antique plates(required for this insurance through American Family Insurance) for it, and get photos, the agent was asking me what I thought it was worth.

I said I'll ask on the classic truck forum, but most likely they will say it's worth what someone is willing to pay.

She looked up prices ranging from $1700-7500.

It's less than $20.00 per month and I asked if I could drive it day and nights, can I drive it to work on occasion, all yes.

It's a custom cab, rear back window, shortbed fleetside.

Has some rust in floor boards, needs bed wood and paint and body to be perfect.

It's basically just a old truck, with that patina, light blue, with white cab, mild surface rust blending on top of cab with the white.

Front end rebuild with power disc brakes, power steering upgrade, swapped in big block 396 and TH400.

Can anyone that has purchased one recently chime in, they said if I had just bought it, my bill of sale would help, but I bought it September 1995, and for $1000.00 then.

Also I just bought Edelbrock pro flo 4 complete multiport fuel injection kit for it, $2000.00, which I laughed at telling her, when she said $2000.00 was the MSRP on it brand new.

It has to be worth more than $1700.00, but I also understand mods usually don't increase value of vehicles, on C5 Corvettes anyways from reading online, they say a factory stock C5 Corvette is usually more preferred VS one that has lots of mods, even if some spent several thousand, probably because stock has not been beat on.

However that is C5 Corvettes, maybe classic trucks it's different?

I would call the truck a fixer upper, but mechanically sound.

Will get pics in next couple of weeks after getting it washed and registration, it's got lots of dust and oxidation on the paint that makes it look chalky, like a lighter blue.

Does adding power front disc brakes, power steering, front suspension/steering rebuild change value at all?

What about the big block and TH400, along with soon to be fuel injection?

[oem4me]

The short answer on classic insurance is, if you allow the insurer to determine value, you may end up getting screwed on a claim. The modifications you paid good money for may actually end up making the vehicle worth less to the insurer. For good reason too, as an infinite number of factors could easily turn intended improvements into plain risks.
A safer approach to getting the coverage you want is to buy an "agreed value" policy. That is, you tell the insurance company the amount YOU want to insure the vehicle for, if they agree, then they charge you a premium based upon THAT value. If you over or under estimate the vehicle's real value, it hardly matters, because settlements will be based upon exactly what you agreed to, and paid for.

[chev-obsession]

Originally Posted by oem4me

The short answer on classic insurance is, if you allow the insurer to determine value, you may end up getting screwed on a claim. The modifications you paid good money for may actually end up making the vehicle worth less to the insurer. For good reason too, as an infinite number of factors could easily turn intended improvements into plain risks.
A safer approach to getting the coverage you want is to buy an "agreed value" policy. That is, you tell the insurance company the amount YOU want to insure the vehicle for, if they agree, then they charge you a premium based upon THAT value. If you over or under estimate the vehicle's real value, it hardly matters, because settlements will be based upon exactly what you agreed to, and paid for.

X2

Insurance companies don’t care about trim levels and mechanical upgrades like we do as truck guru’s. When I put my 65 on the insurance policy, the agent lost it when I told her my 50 year old truck was worth $5,000.

[rcnutt]

yep....agreed value is the only way to go.....won't be much more $ for the policy either.

[Clyde65]

Since I had Clyde painted, he is now insured for $25k

[65 GMC]

I have my 65 C10 long stepside insured through Hagerty for 10K on an agreed value policy. It is an unrestored truck with nice patina, has new bed wood and had some things rebuilt to make it mechanically safe. Personally I'm not an American Family fan, I had a lot of problems with a home owners claim.

[Lil Loafer]

I have USAA who wont sell you classic car insurance if you are under 25 but im guessing that is not a problem for you because you bought the truck in 95. Because of that USAA will only insure it for msrp minus depreciation, so they value it a 800. They will however increase the value by as much as 5000 for modifications you have done. American Family might have something similar?

[Redneck Rydes]

In Ontario, to get classic insurance,we have to have a independent auto appraiser,usually costs about 200.00, they come to your house, will take all kinds of pictures,detail and document all modifcations,and all numbers, you then both agree on a value,what I am saying is,if you get a appraisal with pics and all documentation,if there is any descrepancy in value if something horible happens to yoir vehicle,you will have a appraisel to prove the condition of the vehicle,my friend rebuilt his 1998 harley road king,spent about 15000 in rebuilding it and upgrades,told him ,get a appraisel to all modifcations you did,well guess what,bike got stolen,no appraisel,and they valued his bike at $6000, he argued that he spent 15000 on it brought in receipts,and they said those parts could have been put aon any bike,but if he had a detailed appraisel with pictures and he would have got the full price of agreed value plus 13% sales tax, get a appraisel done!

[sstock]

Eunice (53)is insured for $35K and Enoch (64)is unrestored insured for 10K

[jocko]

That Eunice is sure good lookin!

[factorystock]

Originally Posted by jocko

That Eunice is sure good lookin!

X2! What is the possibility of getting the correct caps and wheel color on Enoch?

[sstock]

Originally Posted by factorystock

X2! What is the possibility of getting the correct caps and wheel color on Enoch?

Probably slim to none. They do not repop the hubcaps even though they are very similar to the chevs. I'm going to the portland swap meet in April maybe have some luck but most used ones show their age. Believe wheel color is ivory on the 64s, before that white if I remember correctly. Thanks for the compliments gents.

Steve

[factorystock]

Originally Posted by sstock

Believe wheel color is ivory on the 64s, before that white if I remember correctly.

Correct, ivory for '62-'66 GMC's. '60-'61 GMC rims were color coordinated to exterior color. Example Dark green exterior, light green wheels or Dark Blue, light blue wheels. Still looking for definitive data for other wheel colors on other exterior colors for '60-'61, I believe some GMC's still came ivory with certain lighter exterior colors. Here is 60-66's GMC for wheel and hubcap reference. How can you put a price tag ( agreed value ) on this irreplaceable immaculate all original GMC loaded with factory options?