>From: jtc@ccwf.cc.utexas.edu (James TenCate)
>
>Insurance rates are going up in Texas again--this time they're
>trying for a 30% rate hike. I've got my 80 TR8 insured with
>Allstate and they've insured it just like a normal car. My
>insurance agent ASSURES me I would get current market value for
>it if it was stolen or totalled. I'm not so sure about that so
>I've gone out of my way to document both my car and current TR8
>selling prices (I'm having it appraised this spring too).
>Nevertheless, the rates are $$$.
>
>Someone wrote back a while ago (6 months?) saying that State
>Farm(?) has a special rate class for cars like mine:
>
> (1) Its current retail value is not listed in the 'blue book'
>but in the Cars of Particular Interest (CPI).
> (2) I usually only drive it on weekends and for club events.
> (3) I do NOT put very many miles on it in a year.
>jatc@emx.utexas.edu
>
Yes, State Farm does have both a classic car classification
and an antique (25 years or older) classification. The classic
dessignation is State Farm's use classification 'N'. The car
must be 10 or more years old and itcan not be used for
daily transportation EXCEPT on an occasional basis. Most State
Farm agents don't even know of the classification. Generally
they all seem to think that the Classic and Antique catagoies
within the State Farm Insurance coverages only apply to cars
older than 25 years.
If the agent claims the car must be 25 years old, ask him to look
up the classification code requirments in his policy book.
FYI, the Use Classification Code for Antique Cars is 'S'.
Hope this helps. Let us know how you make out with State Farm.
Your posting was very timely, as it reminds me to change the classification
on my 1981 TR-8 (insured with State Farm already), as it is now
10 years old also.
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Bill Sohl || email
Bellcore, Morristown, NJ || UUCP bcr!taichi!whs70
(Bell Communications Research) || or
201-829-2879 Weekdays || Internet whs70@taichi.cc.bellcore.com
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