Steve,
Understand that the stated value coverage, it does not automatically imply
that f your car is gone tomorrow that they will pay that $$$ amount, the
burden of proof is still on your shoulders to prove that the car was worth
that $$$$ at time of loss.
This is especially true with Farmers, State Farm, AAA and a few others, to
cover your BUTT, you should get proper appraisals, then get J.C. Taylor,
American Collectors, Cigna, Sneed Robinson you will then be with a company
who specializes in this product.
I have spent the last 24 years in the Insurance business, and have seen to
many problems, where people have had a loss on a classic/collectible, having
had one of the Farm's or AAA, the nightmares that followed for the owners I
can not describe to you...
As a disclaimer of course, I will say, I am not out to Bash any companies,
they have their place in the market, but NOT in the classic/collectible.
Good Luck to all, and get covered the right way, remember COST is only, and
should only be 10% of your decision, the quality of coverage and the agent
is the balance, no one ever said to me that they where happy that they
saved $ 100 per year to get a hassle at claim time, and collect $5,000
less...
Take care all....
Jan Harde, LUTCF
-----Original Message-----
From: Steve Laifman <Laifman@Flash.Net>
To: CoolVT@aol.com <CoolVT@aol.com>
Cc: Tiger's Den <tigers@autox.team.net>
Date: Thursday, August 13, 1998 5:04 AM
Subject: Re: Insurance?
>
>
>CoolVT@aol.com wrote:
>
>> Kevin,
>> .... That is for full coverage
>> with $400,000 liability with an "agreed upon value" of $13,000 for the
car.
>>
>> There are very few restrictions. I believe I'm allowed about 5,000
miles per
>> year.
>>
>> There was much discussion on the "agreed upon value" and what a company
>> would really pay in the case of a total loss, so you should definitely
ask a
>> lot of questions so that you would be totally sure of what you are
buying.
>>
>> Mark L.
>>
>> ps. the car has to be stored in a locked garage and had to be appraised
>> also, I have home and 4 other cars insured with this agent, so my
>> rates might
>> be a little better
>
>
>
>Mark,
>
>This is in line with the post I sent out a few months ago. Most cars are
ACV
>(Actual Cash Value), and I can tell you Jay is having a real hassle in even
>getting the car correctly costed for repair. The adjuster is using VW
figures,
>and doens't understand the deifference between a bolt on body parts and
uni-body
>with 6 layers in the side beams. He finally got it straightened out, but
he's an
>attorney.
>
>Stated Value is the one most people think protects them, and as Jan has
pointed
>out, it just limits the insurance companies liability. They will pay you a
lot
>less unlesss YOU PROVE value. All you've agreed tro is the maximum they'll
pay.
>
>Agreed Value seems to be the correct form, but not many companies will
offer it,
>and you have to pay for appraisals at the beginning, periodically, and with
a
>claim.
>
>Any other's out there with Insurance solutions. Especially for people who
>actually drive their cars for pleasure, not commutting?
>
>
>BTW: Keep taking car photo's with a current newspaper date in full view.
>
>Steve
>
>
>--
>Steve Laifman < One first kiss, >
>B9472289 < one first love, and >
> < one first win, is all >
> < you get in this life. >
>
>
>_/_/_/_/_/_/_/
> _/ _/_/_/ _/_/_/ _/
> _/ _/ _/ _/ _/ _/ _/_/_/_/
> _/ _/ _/ _/ _/ _/ _/
> _/_/_/_/_/__/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/
> _/
> _/_/_/
>
>
>
|