Randall,
In a perfect world you would be correct if you said "or give me enough money
to buy another car just like mine" Unfortunately no one is going to pay to
create or recreate a classic or specialty car. As I said earlier, it is quite
easy to spend more money on a restoration than the car is worth, (ask me how
I know) The real settlement should be based on the market value of the car,
immediately prior to the loss or damage. I know, I know another insurance
term. What it means is the price a willing buyer would pay a willing seller
on a free and open market for a car just like yours before, it was damaged.
This points out the need for good documentation of the condition and value of
our cars. Keep in mind, there are no accurate 'Blue" books on our cars and
the folks who know the most about their value, like Pogo says." are US ".
Thus endeth the insurance lesson, for tonight. Hang in there and don't hit
anything!
Doug
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