As an adjuster, I can assure you the even a "normal" insurance company would
have to refer to the available guidelines when adjusting a loss.
In this case, a 68 Camaro would be valued at anywhere from $6000 to $10000
depending upon condition.
This fact would be taken into consideration at the time the policy was
written and the premium determined.
An agreed value policy has the advantage of predictability and low premiums,
but restricts the manner of usage.
----- Original Message -----
From: "Richard Atkins" <richarda@npclabels.com>
To: "'N'" <twobees@sprynet.com>; "'Vintage Race Digest'"
<vintage-race-digest@autox.team.net>
Sent: Monday, September 17, 2001 9:46 AM
Subject: RE: Classic car insurance
> I believe that his concern was the value of the car, not the cost of
> insurance. With most normal policy if he totals the 68 they will say it is
> worth $200 and that's all they will pay for a 33 year old car. He is
looking
> for a company that will pay an agreed value if something bad happens.
>
> -----Original Message-----
> From: owner-vintage-race@autox.team.net
> [mailto:owner-vintage-race@autox.team.net]On Behalf Of N
> Sent: Tuesday, September 11, 2001 9:47 PM
> To: Vintage Race Digest
> Subject: Classic car insurance
>
>
> Scott McClung asks about classic car insurance for his '68 Camaro.
>
> If you use your car (of any year) as a regular driver as I do, it seems
that
> your best bet is to just add it to your regular auto policy. The rates
are
> certainly more than it would be on a limited use classic policy. But, if
it
> is your regular transportation car, what's the difference? This way,
you're
> covered for anything that happens on the street or in the garage. Now,
when
> you're on the race track... That's another story.
>
> Norm Sippel
> '66 MGB
> '59 Turner
|