Dave,
I'm not sure of the point of your message, but I will make a general statement.
Don't view your agent as the bad guy/gal. A professional agent is there to help
you, review your needs and provide appropriate advice.
Keep an ongoing and open dialogue with your agent. Like anything else, you won't
get the proper advice or coverage if your agent is only given part of the
picture.
Many do-it-yourselfers wish they listened to a professional when the
uninsured/underinsured event occurs.
Our agency takes a dim view on the price shopper. The reason being that the
price shopper ONLY looks at the price and often goes underinsured or uninsured
in important areas. The price shopper views professional advice as padding the
premium and in the end puts their assets at risk.
At one time our agency solicited and marketed classic car insurance. It turned
into a nightmare of car owners that were only interested in saving money with no
interest in being adequately insured.
We would field inquiries from owners interested in saving $10.00 on their
current policy or others not interested in knowing how their classic policy
relates and/or interacts with their daily driver insurance or other policies.
Almost every owner is interested in the physical damage portion of the policy
and almost completely ignore the more important liability coverages.
In my opinion, too many classic car insurance scenarios are a time bomb for many
owners and insureds. Classic car insurance is characterized by dangerously low
liability limits, dangerously low uninsured/underinsured liability limits, and
prohibited use of the classic vehicles.
I am in the process of selling one of my "classic" vehicles. The buyer arrived
in a comparable "classic" which he drives on a daily basis. In the course of our
discussions, the subject of classic car insurance came up. He mentioned that
while he insures some of his vehicles on a classic car policy, he does not
insure this daily driver vehicle on such a policy because of the need to be
properly insured.
Unfortunately not everyone is that conscientious.
Jay Fishbein
Independent Insurance Agent, CT
AN-5
HAN-6
Innocenti-S
Lotus 7
etc. etc.
frogeye wrote:
> Gary,
>
> That is exactly my point..I was blind sided by the Haggerty agent, in that
> he failed to inform me that it would or could affect by major carriers
> rates. And since the difference in savings was nearly $50 for the hobby
> cars, I felt it not worth the cost of defending my insurance position in the
> event of some litigation down the road. My point was/is to inform others
> that there are two sides to the classic car insurance question. Dave @Taos
> Garage Annex Albuq.NM
> ----- Original Message -----
> From: <Editorgary@aol.com>
> To: <frogeye@gateway.net>
> Sent: Tuesday, September 28, 1999 3:07 PM
> Subject: Re: Re: insurance question revisited
>
> >
> > In a message dated 9/20/99 5:47:10 AM, you wrote:
> >
> > <<Apparently
> > the only recourse is to find a new company or if your agent does not know
> > about it, don't tell him. Dave@Taos Garage Annex.
> > PS. My BN1 got the Hard Luck Award at said event. Something went bang big
> > time in the bellhousing, can't wait to see what that was.......>>
> >
> > Won't go back to the list yet, because I'm still looking for more info,
> but I
> > think that your major carrier absolutely needs to know about your coverage
> on
> > another insurance company so that they're protected in the event you get
> in
> > an accident with your hobby car -- They can still be sued, though the
> person
> > might not recover from them, but if they're blindsided by not being aware
> > that you have other cars, they might be able to swing it back at you and
> > leave you to defend the case.
> >
> > My understanding is that a surcharge for liability on additional cars on
> an
> > umbrella policy might only be $50 or less a year -- might be good
> "insurance"
> >
> > CHeers
> > Gary
> >
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