James I guess you did miss a couple of emails. I own a restoration shop in
Hollywood Florida, I am also a licensed and bonded car dealer, I also have
garage and shopkeepers insurance. A customer traded his car in for another
one, at this point he canceled his insurance as the car was now technically
mine, the car was still in his name but had no insurance it was in our shop.
We rebuilt the engine, put a new tranny in, had the interior done, did the
body work, painted it, put all new rubber and all this over a period of 4
months. If someone had come in and stole the car or set the place on fire
the insurance company would have covered it.
I am not sure if you understand what all those pieces of insurance are for
but they cover anything and everything even a$50,000 car that someone took
for a test drive and wrecked, even if it was on consignment. What is NOT
covered is if somebody with a key and alarm code walks out with that same
$50,000 car. All I was relaying was the loss of my DREAM MGB, this was going
to be titled in my name and I had spent not only time working on it, but
lots of money getting it the was I wanted it, and now my drug addicted
mechanic (now I know what his problem was) probably sold it for a couple of
hundred dollars or stripped it, I doubt if he took it wherever he's going.
As far as the issue with the cops, I only relayed what the officer that
wrote up my case told me I didn't know they worked on commissions I thought
they got paid a salary. I am not an expert on what cops do or don't do, that
is why I asked if there were any cops out there with MGs to comment on this.
All I meant to do in my original posting was to ask if anyone saw my car to
let me know, thank you for explaining everything in such detail.
I have the original title for the car, but the only current pictures are on
a disposable camera with the car that was locked in a secured warehouse with
an alarm.
I think the thread at this point has gone far enough, thanks again to all
that had kind words regarding my loss, they are appreciated, makes me feel
better to know that some of you would actually keep an eye out for my car,
even if I was a stranger.
Jack Levy
Driveable Classics, Inc.
Hollywood, Florida
Phone 954-986-4241
Web site http://www.driveableclassics.com
Repairs, Triumphs and MG car sales, used parts and restorations
jack@driveableclassics.com
-----Original Message-----
From: James H. Nazarian, Ph.D. [mailto:microdoc@apk.net]
Sent: Saturday, February 03, 2001 2:18 PM
To: MGTD1952@cs.com
Cc: jack@cocoinc.com; mgs@autox.team.net
Subject: Re: Stolen MGB The real problem
Jack,
Maybe I missed a chapter or two, but this story is making less and less
sense: if
the car was indeed covered by auto theft insurance, and was indeed stolen,
then
the insurance company should either recover the car, or pay the insured for
the
loss. Employee theft is in a similar category as "mysterious disappearance";
you'll likely pay extra for an umbrella policy to cover such hazards.
Business
insurance isn't meant to cover "big ticket" or unscheduled items like a car,
any
more than home owner's or renter's insurance will. A car has a serial number
(even
if it is easily removed like that of an MG.). Cars are covered by separate
automobile insurance, not your basic business insurance. If you considered
this
car as inventory, that just so happened to be assembled into a complete car,
and
expected it to be covered by your business insurance, it is no wonder your
insurance company won't pay. It sounds like you didn't have comprehensive
fire and
theft insurance on this automobile.
As far as the involvement of police is concerned, they will follow up on
your
report, and if they have reason to believe that the ex-employee has stolen
property of yours, they will arrest and prosecute him, because they get paid
a
commission from state and federal law enforcement grants for each and every
arrest
that sticks; so do the courts, judges, lawyers etc. The criminal justice
system is
a big, big industry in the good 'ole USA. Now for the but... BUT, what the
cops
will not do, is a full scale investigation to find an uninsured vehicle
whose
serial numbers can be removed in 20 minutes even by a slowpoke like me. If
you
cannot prove ownership of something, the cops can't do anything to help you
recover it.
It is unfortunate that any one of us should lose one of our precious MG's,
and I
do hope you get it back, but we all know that if the numbers are changed,
and the
identifying wheels or other accessories are exchanged, then that MG will
look like
any other MG. So, this story should be a lesson to every MG owner: insure
them and
have photos, an appraisal or some other way to verify the value to your
insurance
company.
Jim
MGTD1952@cs.com wrote:
> In a message dated 2/3/01 7:33:40 AM Eastern Standard Time,
jack@cocoinc.com
> writes:
>
> > I was also
> > shocked to find out that employee theft is not covered in most insurance
> > policies unless a special employee dishonesty clause is added, this is
never
> > mentioned until after the fact.
> >
>
> This is something to talk to you insurance agent about. If he wasn't
> absolutely clear on this when he sold you the business policy, then 1) it
may
> be time to get a new agent; and 2) you may have an E&O cause of action
> against him.
>
> Employee Dishonesty (or Fidelity coverage) is not part of any standard
> commercial property policy. This is a known industry standard. It
requires
> a separate crime or fidelity policy, or a special endorsement to the fire
> policy. There are some carriers with an enhanced "garage" policy program
> that will automatically include this, but it isn't standard.
|