RE: [DMCForum] Car stolen 37 years ago, returned to owner. WoW

["timnagin" <timnagin@xxxxxxxxxxxxxx>]

That is interesting, Mike.  I was watching a show on Speed TV, or some other
car related channel, and they were talking about the rising prices of
insurance.

They stated the creation of the muscle car was a direct correlation to
insurance costs.  When you could buy something like those Vettes with a 435
horse 427 people went nuts.  JZD was shoe-horning these engines in smaller
cars as well as we all know.  One of the reasons the LS6 Chevelle is so
collectible now is because of this, and gas prices rising, it had to be
cancelled.  An LS6 convertible Chevelle recently sold on Barret -  Jackson
for $300k!

I wasn't old enough to drive back then but my understanding is full coverage
insurance was not required if financed.  You could get away with liability
only.  This may be why that guy didn't buy another car for so long as he was
paying off the loan.

Please correct me if I am wrong. :)

Greg


-----Original Message-----
From: DMCForum@xxxxxxxxxxxxxxx [mailto:DMCForum@xxxxxxxxxxxxxxx] On Behalf
Of mike clemens
Sent: Thursday, January 19, 2006 1:16 PM
To: DMCForum@xxxxxxxxxxxxxxx
Subject: Re: [DMCForum] Car stolen 37 years ago, returned to owner. WoW

Ryan,

Just to clarify, when he bought the car, it was a year
old and he paid $6000.  He was 26 years old, single at
the time (just divorced according to his TV
interview), and we all know what insurance companies
thought (and still think) of youthful, single drivers
and hot muscle cars.  They charge an arm and a leg and
once those are gone, how you gonna drive a Vette?  
:-)

And yes, you are right, insurance back in the 60's was
more expensive (comparatively speaking) than it is
today.  It was not unheard back then that your 1st
year's insurance for a muscle car was 20-25% of the
cost of your new car.  I know, been there, done that,
couldn't afford it!!   LOL

Mike

--- Ryan Wright <ryanpwright@xxxxxxxxx> wrote:

> On 1/18/06, mike clemens <rmclemns@xxxxxxxxx> wrote:
> >
> > The car was a 1968 and it was stolen in
> 1969---hence
> > insurance was not required, at that time, to own
> or
> > drive a vehicle in 'most' states, if at all.
> 
> I knew it wasn't required back then, I was just a
> bit surprised that
> someone would buy a brand new vette and not insure
> it. I don't need
> collision insurance on my DeLorean as I hold the
> title, but I've got
> it anyway because I can't imagine not protecting a
> twenty thousand
> dollar car.
> 
> > insurance was required, where as, folks of my age
> knew
> > it only as a luxury that only 'rich people' could
> > afford.
> 
> I'm guessing insurance was much more expensive back
> then, relatively
> speaking, than it is today?
> 
> -Ryan

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