Nice 1966 Ford Galaxie 500 XL
By Greg Zyla

Q: I am hoping you can help us with some questions we have about a 1966 Galaxie 500 XL 2-door hardtop we purchased. The car is in excellent condition inside and out. It is finished in dark blue paint with only two dime size spots to be touched up. The car has no rust, and we are the third owners.

The interior seats and carpets are original, with no rips. Overall, the interior is in excellent condition, including the door panels and headliner. There is no pitting on any of the chrome.

Our Galaxie has an AM/FM radio, 390 V8 engine, 4-speed transmission and only 69,000 original miles. The original Ford owner’s manual book is in glove box and the cardboard starting instructions are still on the sun visor. It looks new also.

It is in great running condition and the transmission appears to be good also.

We are concerned we may be underinsuring for the value of the car. We feel we got a bargain on it but are not sure how much to insure it for. Any help you can give will be greatly appreciated. Thank you in advance. Rick and Sharon Speakman, Paulding, Ohio.

Advertisement for 1966 Ford Galaxie 500 XL. (Compliments of Ford Motor Company).

A: Rick and Sharon, you have a great car on your hands and it sounds like it is in great shape. Your Galaxie 500 XL hardtop fastback listed for just $3,231 when it was brand new, although the 4-speed transmission and optional 390 V8 engine pushed the price a bit higher. Today, according to NADA Classic Car prices, a Galaxie 500 XL with a 390 4-speed goes for a low retail of $7,174, an average retail of $3,230 to a high retail of $17,080. I would guess your car’s true worth is somewhere in between $13,230 and $17,080.

As for the insurance, allow your collector car insurance company to guide you on insuring the car for top value, which they will be able to provide you with based on your car’s condition. Be it American Collectors, Hagerty or one of the many other reputable collector car insurance companies, they know their business well and will not over insure a collector car. (Under insuring is up to the car owner). Also, if you are dealing with an insurance company that does not offer collector car insurance, then make sure you find one yourself as the rates are quite low thanks to restrictions on use and daily storage (your garage).

I understand your concern if you have your Galaxie insured for less than above average, so a quick call to your agent will correct this and allow for a better night’s sleep.

Thanks for your question.

(Greg Zyla is a syndicated auto columnist who welcomes reader questions at 116 Main St., Towanda, PA 18848 or email him at extramile_2000@yahoo.com)

Originally posted on Monday, January 30th, 2012 at 1:54 pm
Category:  Auto Round-Up News