Tom,
This seems like too simple a question so I am not sure if I am providing the
answer you are looking for, but here goes.
In your example, there is a vehicle insured for $30,000 Agreed Value that
sustains
$6,000 damage.
The insurance company will pay $6,000 minus any applicable deductibles to repair
the vehicle at the shop that the owner chooses.
This response is based on actual experience with classic car insurers.
Jay Fishbein
Independent Insurance Agent, CT
AN-5
HAN-6
Innocenti-S
Lotus 7
etc. etc.
tom Blaskovics wrote:
> I have been watching this thread go back and forth and enjoying it. Now,
> I have a question. If you care is not totalled what happens to your coverage?
> For example, suppose you had a car a BJ7 with an agreed upon value of $30,000.
> The car is in an accident which wips out the entire left side of the car
> and puts a
> nasty kink in the aluminum shell. The Fenders and doors would have to be
> replaced
> along with the rocker arms. The nasty kink can be fixed with loving care.
> The car will
> have to be repainted. Cost of parts (This is an assumed case so I am
> making up the numbers)
> $2,000. Labor $2,000 and the paint job $2,000 for a total of $6,000.
> What does the insurance
> company do now. if they declare it totalled it cost them $30,000. I would
> be interested to
> see what the insurance gurus to with this one.
> Please remember that the dollar values are for discussion purposes only.
> Arguing that it
> could be done cheaper or the dollar v alues are unreal is an excuse to
> "fog" the issue.
>
> Thanks
> Tom Blaskovics (U2347@WVNVM.WVNET.EDU)
> ACHA, ACHUSA
> BJ7 Registry
> HBJ7L/22380
> Morgantown, WV
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