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The reality is that just because you have stated value insurance, it does not
mean you will get that should your car be totaled. The insurance companies will
be glad to bed take your money for whatever you wanna put a value of your car
at, that doesn't mean I will pay you that much. It is foolish to over pay for
insurance andexpect them to over pay for our cars, when the values do not back
it up.
--
Sent from my Android phone with mail.com Mail. Please excuse my brevity.
CHRIS KOTTING <chris.kotting@gmail.com> wrote:
I don't have classic car insurance on our Magnette. We want to drive it more
regularly than classic policies will allow. We have it on our regular
insurance on a stated value basis. Not all insurers will do that, but
Motorists Mutual does (shameless plug for one of the two major insurers
headquartered here in Columbus, Ohio.)
On Fri, Oct 25, 2013 at 8:09 PM, Steven Trovato <strovato@optonline.net> wrote:
I have a ZA and an MGA. I wonder how many people have a Magnette and an MGA.
I've definitely heard of others. As for insurance, have you had a classic car
insurance company refuse to insure for your stated value? I have found them to
be pretty flexible, but I haven't tried to request anything too crazy. I think
the only reason for them to hesitate is that they don't want you to be able to
put a match to it to make a profit. I bet there are people on this list who
have their Magnettes insured for 25K. I am just guessing, though. I suppose
we will get some data points shortly. Has anyone had an insurance company
refuse to give you as high a stated value as you wanted?
-Steve T.
At 07:20 PM 10/25/2013, Mike wrote:
SteveT, I'm with you except for one thing - value for repair or replacement
after an accident or other incident.
If nice Magnettes were trading at around $10K, while they cost upwards of $20K
to get to that condition, you can be in a bind even with a stated value policy.
Is your underwriter going to go for you asking for $25K of coverage for a car
that trades for $10K? Perhaps not.
But if the cars are trading in the $20K range, or to put it another way,
trading at a price that approximates what it would cost to duplicate the car,
getting them properly insured becomes easier.
I'm not even going to consider the super-deluxe cars out there, the ones with
A/C, breathed-upon motors, and so on.
I don't think the sedans will ever be as popular or pricey as the sports cars,
for all the same reasons that the sedans were widely outsold by the sports cars
when they were new. I've never really understood that, but that's how it is. I
have both a ZB and an MGA, and the ZB is the much nicer (& rarer!) car. Go
figure.
Mike
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<html><head><meta content="text/html; charset=utf-8"
http-equiv="Content-Type"></head>The reality is that just because you have
stated value insurance, it does not mean you will get that should your car be
totaled. The insurance companies will be glad to bed take your money for
whatever you wanna put a value of your car at, that doesn't mean I will pay
you that much. It is foolish to over pay for insurance andexpect them to over
pay for our cars, when the values do not back it up.<br>
-- <br>
Sent from my Android phone with <a href="http://mail.com";>mail.com</a> Mail.
Please excuse my brevity.<br><br><div class="gmail_quote">CHRIS KOTTING
<chris.kotting@gmail.com> wrote:<blockquote class="gmail_quote"
style="margin: 0pt 0pt 0pt 0.8ex; border-left: 1px solid rgb(204, 204, 204);
padding-left: 1ex;">
<div dir="ltr">I don't have classic car insurance on our Magnette. We
want to drive it more regularly than classic policies will allow. We have it
on our regular insurance on a stated value basis. Not all insurers will do
that, but Motorists Mutual does (shameless plug for one of the two major
insurers headquartered here in Columbus, Ohio.)<br>
</div><div class="gmail_extra"><br><br><div class="gmail_quote">On Fri, Oct 25,
2013 at 8:09 PM, Steven Trovato <span dir="ltr"><<a
href="mailto:strovato@optonline.net";
target="_blank">strovato@optonline.net</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc
solid;padding-left:1ex">I have a ZA and an MGA. Â I wonder how many people have
a Magnette and an MGA. Â I've definitely heard of others. Â As for
insurance, have you had a classic car insurance company refuse to insure for
your stated value? Â I have found them to be pretty flexible, but I haven't
tried to request anything too crazy. Â I think the only reason for them to
hesitate is that they don't want you to be able to put a match to it to
make a profit. Â I bet there are people on this list who have their Magnettes
insured for 25K. Â I am just guessing, though. Â I suppose we will get some
data points shortly. Â Has anyone had an insurance company refuse to give you
as high a stated value as you wanted?<br>
<br>
-Steve T.<br>
<br>
<br>
<br>
At 07:20 PM 10/25/2013, Mike wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc
solid;padding-left:1ex">
SteveT, I'm with you except for one thing - value for repair or replacement
after an accident or other incident.<br>
<br>
If nice Magnettes were trading at around $10K, while they cost upwards of $20K
to get to that condition, you can be in a bind even with a stated value policy.
Is your underwriter going to go for you asking for $25K of coverage for a car
that trades for $10K? Perhaps not.<br>
<br>
But if the cars are trading in the $20K range, or to put it another way,
trading at a price that approximates what it would cost to duplicate the car,
getting them properly insured becomes easier.<br>
<br>
I'm not even going to consider the super-deluxe cars out there, the ones
with A/C, breathed-upon motors, and so on.<br>
<br>
I don't think the sedans will ever be as popular or pricey as the sports
cars, for all the same reasons that the sedans were widely outsold by the
sports cars when they were new. I've never really understood that, but
that's how it is. I have both a ZB and an MGA, and the ZB is the much nicer
(& rarer!) car. Go figure.<br>
<br>
Mike<br>
</blockquote>
<br>
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</blockquote></div><br></div>
</blockquote></div></html>
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