Hi Listers,
Thought I'd add my 2 cents to the insurance thread....
A number of years ago I left State Farm insurance because my rates seemed to
be going through the roof despite a clean driving record. I ended up with
General Casualty (two cars policies plus my house) and lived happily
ever-after with a premium 1/2 of what I was paying.
When I purchased my TR6 in early May, General Casualty wanted $50 a month for
full coverage, no driving limits, and an insured value of $7900 in case it
was totalled. To put this in perspective, full coverage on my two "regular"
cars, PLUS my house policy, is only $16 a month more COMBINED!
So I went shoppoing and, on the advice of my dad who has had many collector
cars, called State Farm again. I'm currently insured with them for $83 a year
(you read that right - $83 a YEAR) for full coverage. That includes
comprehensive ($50 deductable)
collision ($250 deductable)
emegency road service
under-insured motorist
uninsured motorist
Bodily injury / property damage liabilty (I don't remember the limits but
they are the "usuall" - not stripped down to save money).
Medical payments
What's the catch? Well, I've got to license the car as a collector car. In
Wisconsin that means I have to buy a license plate for $120 which will be
good forever (vs $40 a year for a regular license) and I can't drive the car
in January unless I call the DMV and ask for a special permit. There are no
restrictions on mileage or use by either State Farm or the DMV.
Sounds good, you say, but what happens when you have a claim?
One week after securing this insurance I backed the TR6 into my garage with
the 6's door open, causing $450 in damage to the car when the garage door
didn't jump out of the way in time. State Farm paid with no problem. All they
wanted was two estimates and photos of the damage.
They also have photos of the car and a copy of the appraisal on file. If I
total it out, I'll be paid the appraised value (hopefully without too much
hassle).
I hope this helps someone with their insurance decision. Shop around, ask
questions, find out if the insurance company has a collector car category
that takes into consideration that the car may not be driven daily, but is
used for more than a 5 mile jaunt to a Sunday car show.
Kerry Fores
Editor
6-Pack Car Club
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