Heck, I didn't bother with anything special at all when I registered and
insured my "new" '62 Herald 1200 sedan this summer. I bought it basically to
be a fair-weather daily driver. It's insured as the second car on a regular
NY policy, with no comprehensive, collision or glass coverage, but with all
the usual required liability coverage, etc.
I figure if I'm stupid enough to bend it up through my own lapse of judgment,
then I'll take responsibility, bite the bullet and either fix it or scrap it.
On the other hand, if someone else is stupid enough to run into it, I'll
fight for a fair value settlement (and to keep the car regardless).
As much as I love the car, I realize that especially Herald sedans don't have
incredibly high values. Oddly, NADA's "classic car" guide doesn't even
recognize that there was a Herald sedan until 1964. For that year, they state
values as follows:
Low Retail: $1,800 (in the neighborhood of what I paid)
Average Retail: $2,775 (in the range of what it will be worth with a bit
more work)
High Retail: $3,875 (in my dreams, at least for the moment)
Is this a logical approach? I don't know. But it works for me, and I get to
drive the car whenever I want.
Your mileage may vary....
--Andy Mace
*Mrs Irrelevant: Oh, is it a jet?
*Man: Well, no ... It's not so much of a jet, it's more your, er,
Triumph Herald engine with wings.
-- Cut-price Airlines Sketch, Monty Python's Flying Circus (22)
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