spitfires
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Re: Insurance

To: tedtsimx@q1.net
Subject: Re: Insurance
From: Joe Curry <spitlist@gte.net>
Date: Wed, 18 Aug 1999 19:40:16 -0700
Ted,
If the insurance company accepts the paperwork and evaluations that you
give them and issue a "stated Value" policy, they in effect agree that
the value is what you claim.  Therefore, in the event of a loss, they
cannot go back and deny it.

I hope I never got the opportunity to prove it works like that, but I
have read the fine print unless there is a lawyer that can prove
different, they have to pay up.  There is no arguing about it.  That is
the whole reason to insure a car that way!  

Joe

Ted Schumacher wrote:
> 
> Joe Curry wrote:
> >
> > Hey, Laura!  I changed insurance companies recently and had to get
> > Huxley appraised for the assigned value of the policy and I took it to a
> > local shop that also does restorations and got an appraisal letter that
> > valued the car at $15,000.  That is almost what I have in it and it is
> > reassuring that If it gets totaled or stolen I can replace it (with
> > great sadness)!
> >
> > Regards,
> > joe
> >
> > Laura Gharazeddine wrote:
> > >
> > > I did the same thing-insured it for appraised value rather than book
> > > value-however, the appraised value was $7500 last September. The other 
>day,
> > > I was at the detailer and some guy on his way to Monterey for the auctions
> > > in a week and a half, said "you know, a spit like this, in this kind of
> > > shape is woth $10000." And made me an offer! I think I'll get it
> > > re-appraised for when I renew my policy!
> > >
> > > Laura G. and Nigel
> > > ----- Original Message -----
> > > From: Simmons, Reid W <reid.w.simmons@intel.com>
> > > To: 'John T. Blair' <jblair@exis.net>; <Bricklin@autox.team.net>;
> > > <british-cars@autox.team.net>; <morgans@autox.team.net>;
> > > <Spitfires@autox.team.net>
> > > Sent: Wednesday, August 18, 1999 8:51 AM
> > > Subject: RE: Insurance
> > >
> > > >
> > > > In the case of my Spitfire I insure it for a fixed value ($7,500 - 
>that's
> > > > what it cost me new in 79), kind of like a life insurance policy.  Then 
>if
> > > > it were to get "totaled" I have $7500 to fix it or buy another.
> > > > Unfortunately it doesn't sound like the Gremlin owner did that, so the
> > > > insurance company will probably only give her "replacement" value for 
>the
> > > > car.
> > > >
> > > > Reid
> > > > '79 Spitfire (original owner)
> > > >
> > > >  -----Original Message-----
> > > > From: John T. Blair [mailto:jblair@exis.net]
> > > > Sent: Tuesday, August 17, 1999 6:42 PM
> > > > To: Bricklin@autox.team.net; british-cars@autox.team.net;
> > > > morgans@autox.team.net; Spitfires@autox.team.net
> > > > Subject: Insurance
> > > >
> > > >
> > > > Hey gang,
> > > >
> > > >   I'm looking to the collective knowledge.  I'm doing a series on Car
> > > > insurance for The Brickline - the quarterly magazine for Bricklin
> > > > International.
> > > >
> > > > Along with this, I received a call the other day from a young lady.  She
> > > has
> > > > a 77 Gremlin that has been in her family since new, never been hit.  
>Well
> > > > someone pulled out in front of her and she now needs a front clip.  The
> > > > problem, I'm sure the insurance co. (the person that hit her - was at
> > > fault)
> > > > will want to total the car.
> > > >
> > > > So the question to you all, is how do you fight the ins. co.  She wants
> > > the
> > > > car fixed.  So in addition to how to fight it, I'm looking for stories 
>on
> > > > how you fought the ins. co. and won!
> > > >
> > > > TIA
> > > >
> > > > John
> > > >
> > > > John T. Blair  WA4OHZ          email:  jblair@exis.net
> > > > Va. Beach, Va                  Phone:  (757) 495-8229
> > > >
> > > >               48 TR1800    65 Morgan 4/4 Series V (B1109)
> > > > 71 Saab Sonett III (71500840)    75 Bricklin SV1 (0887)    77 Spitfire
> > > >
> > > > Morgan: www.team.net/www/morgan
> > > > Bricklin: www.bricklin.org
> > > >
> >
> > --
> > "If you can't excel with talent, triumph with effort."
> >  -- Dave Weinbaum in National Enquirer
> hello to all.  i've followed this but stayed out till this time.  part
> of our business involves dealing with insurance comapnies and
> adjusters.  we also do appraisals for individuals and valuations for
> business and individuals.  the operative theory here is NO MATTER WHAT
> YOU INSURE IT FOR, IF IT IS NOT WORTH THAT KIND OF MONEY, YOU DON'T GET
> THE MONEY.  example,  joe c has $15000 invested in the spit. if a like
> car(s) is readily available for $10000, this is what you get.  the
> insurance companies are not out to beat you up, but they are also not
> there to contribur\te to your retirement fund.  i did a seminar at the
> recent vtr meet in portland discussing the valuation of cars.  just
> because someone tells you it's worth XXXX $, if they don't have the
> credentials to back it up, it doesn't count.  remember that enthusiasts
> are enthusiastic but not necessarily recogniazed experts.  now to
> retreat. ted
> --
> Ted Schumacher
> TS Imported Automotive
> 404 Basinger Rd.
> Pandora, Ohio, USA 45877
> Ph. 800/543-6648  USA/Canada  FAX 419/384-3272 24 hour
> Ph. 419/384-3022 - tech./general information
> Web page http://www.tsimportedautomotive.com
> New-Used-Rebuilt-NOS-Performance British car parts.
> 200 - 300 parts cars in our British-only salvage yard.

-- 
"If you can't excel with talent, triumph with effort."
 -- Dave Weinbaum in National Enquirer



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