The thought came up the other day about the Insurance value on my car, and if its insured for a suitable figure.
It is currently insured for $63,668 with an annual Premium of $373.34 with Shannons. Obviously the more its insured for, the higher the premium so there has to be a balancing point.
However it makes me wonder if I should re-visit the insured amount.
Is it still current in today's market? What would be a suitable figure to insure it for? What is my car really worth if I did sell it? What would I have to pay to replace it with something similar?