In a message dated 11/13/03 5:56:40 AM, owner-fot-digest@autox.team.net
writes:
<< > Now that I once again have a Triumph for the street, I need insurance.
> Has anyone had any good or bad experience with collector car insurers?
> It has been almost 10 year since I have used one. Joe(B) >>
I personally use Hagerty (they insure both my street Healey and Jag Mk2 and
my racing MGA for non-racing risks and I've had great satisfaction with their
handling of claims -- check out www.classicmotorsports.net and click on
project cars to see what I'm doing with their last settlement check), but all
the
mainline specialty agencies seem to have satisfied customers. The key is that
you want to have "Agreed Value" insurance on your classic car. Stated Value is
subject to argument after the accident, and standard market value insurance
like you have on your Subaru Justy is worthless for a car over twenty years
old.
We wrote about this in the latest issue of Classic Motorsports.
Also, VERY IMPORTANT. Damage and replacement are the easy parts. Your
personal exposure in the event your car is involved in an accident where
someone else
is injured is the real issue. (And you don't even need to be near the car to
be liable--say your (probably uninsured) mechanic takes it out on a road test
after putting in the new points and hits a pedestrian. Guess who's liable.)
Make sure that you have the same liability coverages that you have on your
regular policies (the specialists don't usually offer any more than the
state-required minimum since most people just want to know the bottom line and
it will
add a little to the cost of the policy). And if you've got a nice house,
several valuable cars, and a nice nest egg socked away (all of which could be
taken in the event of a serious law suit), seriously consider a personal
umbrella
policy to back up your auto policy.
Cheers
Gary Anderson
editor, Classic Motorsports magazine.
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