List -
I have an agreed-value policy on my '76 TR6 - if I total it out,
they'll give me $11,500 (it is also covered for collision, comprehensive,
towing, full glass, etc., etc.). I had to get an estimate of the car's
value (they accepted an estimate done by my mechanic on his shop
letterhead) and they took some pictures. I can drive the car whenever and
wherever I want - the grocery store, the VTR Nationals, to work, WHATEVER.
I routinely put 5000 - 7000 miles a year on the car (the weather's been
pretty nice here in the North East - I put 200 miles on the car just last
week). Do I pay for this privilege? You bet I do, especially since I have
2 sons (18 and 20) who live with me (although both are away at college).
As a matter of fact, my 20 yr old son is listed as the principal driver of
the car (4 cars - 4 drivers). I am currently paying approximately
$1000/year for this coverage for the TR6 and as far as I'm concerned, it's
worth every penny. In order to get this type of policy, I had to give the
insurance company (CNA) ALL of my insurance (including my home owner's
policy) and put it all in one big 'umbrella' policy ($500,000 coverage).
Before anybody asks - No, it would NOT be cheaper to exclude my sons
from driving the TR6 (they can't anyway - they don't know how to drive a
standard) because they would then be the principal driver on a newer, more
expensive vehicle. Once they officially 'move out', things will be
cheaper. And no, it won't be cheaper to get the kids their own policies (it
would cost $1200 - $1400/year and they'd have minimum coverage, not
$500,000). And yes, I realize in the 10 years I've owned my car, I've
spent enough in insurance to (nearly) replace it, but the peace of mind and
UNLIMITED USE is worth it. Maybe I'll go out for a joy ride right now...
Think about it - Do you really want the cheapest insurance you can
get? If I had a (insert-dollar-amount-here) Concours-winning trailer
queen, would I feel secure paying $125/year and expecting the insurance
company to take care of it if, God forbid, something tragic were to happen?
If ya wanna play, ya gotta pay.
Dennis Culligan / '76 TR6 CF57948U/ Highland,NY/ DNCULLIG@US.IBM.COM
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