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RE: Insurance for a young LBC Buff

To: "'MG List'" <mgs@Autox.Team.Net>
Subject: RE: Insurance for a young LBC Buff
From: Dan Pockrus <dpockrus@efficient.com>
Date: Fri, 26 Jun 1998 15:19:45 -0500
> Having recently purchased an MGA, I tried to become somewhat 
> expert on the
> insurance options, at least here in NJ where car insurance is the most
> expensive in the US. (I heard that NY has just surpassed us, 
> but that only
> means 2 states are absurd).  I bought insurance for my MGA 
> from American
> Collectors Insurance as follows.
> Here's the facts as I know them.  Not so good news for your son...
> 
> 1. The insured must have ten years driving insurance.
> 2. You must have another car as your regular driver and it 
> must be normally
> insured.

        I'm guessing this means with American Collectors or an affiliate
of theirs. If so, are you paying more than you did to your previous
carrier on your driver cars?
 
> 3. You must have a clean driving record.
> 4. Your collectable car must be at least 15 years old.
> 5. You cannot drive the car more than 2,500 miles per year.

        Do they send a rep out to check the odometer every year?

> 6. You must use the car only for pleasure driving, i.e. 
> driving to shows,
> tooling around the countryside, etc.  No driving to work, etc.

        "Honest, Mr. Adjuster - I always carry my briefcase when I'm
tooling around the countryside!"

> 7. You must store the car in a locked garage when not in use.
> 8.  You must provide them with a good photo of the car.
> That's about it. My insurance cost me $118 per year.  I 
> insured the car for
> $13,800.  The company agreed that the car is worth that 
> amount.  I suppose
> they have general guidelines and parameters to follow.  If 
> you assume an
> MGA can be worth anything between $100 and $20,000 (just to use raw
> numbers) depending on all the variables, they will charge you 
> accordingly.
> 
> Any other questions, just ask.
> Dave
> '62 MGA 1600 MkII
> 
        Don't take this as a rip, Dave, but from the outside it appears
as if this policy is so restrictive that the only case you could be
assured of collecting on is if a giant tree falls and crunches your
locked garage while your car is in it.

                                                                -- Dan
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