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

[mike clemens <rmclemns@xxxxxxxxx>]

Greg,

I can't speak for the fellow who had his Vette stolen,
but I can tell you that my friends and I, from that
time frame, could only afford liability at that time. 
The cars I'm talking about are a GTO, a Cudda, and a
Grand Torino.  All or them were 400 horses plus and we
were all in our twenties.  Oh yea, we were all single
and in the military, which didn't help our rates.  :-)

Mike    TPS      1530


--- timnagin <timnagin@xxxxxxxxxxxxxx> wrote:

> 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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