David, sorry to hear about this but assume your son is okay....
Re: establishing value - I would not think that offering prices would be
an accepted barometer of value to an insurance company - you would
probably need to find 'comps' similar to when you're selling your home. Of
course, finding comps is tricky because of varying conditions.... However,
I know some of the classic car insurance companies have tables that say
for a particular car in a particular condition (1 thru 5), a "normal"
agreed vale is $XXXX... For example, my 76 MGB Tourer (which I rated as
between a 2 and a 3) has an agreed value of $5000. Unfortunately, I have
forgotten the definitions of the ratings! Although it sounds like your
would be more towards the 3 or lower end of the scale.
Seems to me we had a couple of folks in the insurance industry out there
(or was that in the archives?) as well as a couple of had the same
unfortunate circumstance as you.....
Best of luck....
=====
Dan DiBiase
Dayton, NJ
76 MGB Tourer Driver - Brooklands Green
66 Pull-handle MGB Tourer Project - faded Tartan Red
NAMGBR #5-2328
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