Quote:
|
Originally Posted by DCreations
With something like this, does the owner get all his money back?
|
Depends on the insurance. I learned long ago to insure all of my projects as i build them. I have a friend that was restoring a old t-bird and the shop burned to the ground. The insurance company only gave him the purchase price of the car not the $100k he had spent on the NOS restoration.
If you insure as you go like i do you need to submit copie's of the receipt and invoices you receive for labor to your insurance company. The company that i work with is pretty good as they allow me to ammend the policy evey 4 months (3x year). Currently my project is insured for $100k with a check that would be written to me in the event of a total loss.
It's worth the couple hundred dollars a year that i spend on the policy as you never know anymore.