Tom Marincic wrote to the Triumph List:
> I've been with American Collectors for two years, no claims.
> I have $100K liability/uninsured motorist and $11,500 agreed
> value coverage, and I pay $113 a year. The policy is fairly
> restrictive, 2500 miles per year and no coverage when left
> unattended in public other than at car shows/club
> events/mechanic's/etc. It suits me, but make sure you can
> live with the fine print.
[snip]
Tom (and anyone else with an opinion on the subject) -
I've asked this question a couple of times when the subject of
insurance has come up, but have never gotten a completely
satisfactory answer. I'm hoping that you can help out.
I understand (and agree with you) that "agreed value" coverage
is the way to go, and that this will avoid disputes in the event
of a total write-off (theft, major fire/collision, &etc). My
question is in regard to lesser claims: What are the standards
for evaluating the cost of repairs? To put the matter another
way, is the cost of covered repairs related in any way to the
agreed value of the car?
If my car were an ordinary "driver" and I dented a fender, I
wouldn't be surprised to find the insurance company limiting the
cost of repairs to the price of having Joe's Auto Body pound out
the dent, add some filler and repaint the affected area.
If, on the other hand, my car had just been completely restored
to better-than-new condition, I'd want to take the repair job to
the body shop I used for the restoration, I'd want a new fender,
I'd want to make sure the paint was an exact match, etc, etc.
Which is likely to cost a lot more.
I know you said that you hadn't had any claims, but I'm
wondering whether a policy like American Collectors' has any
special language covering this subject in the "fine print" you
referred to.
I'm also a little concerned about "no coverage when left
unattended in public other than at car shows [&etc]. What if I
stay overnight on my way the VTR convention this summer and
leave my car parked outside the hotel? Or drive to a friend's
house and leave the car overnight in his driveway?
Thanks for your advice,
Jim Hill
Madison WI
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