[Healeys] insurance

Ron Davies rdavies1 at cox.net
Fri Nov 7 14:14:31 MST 2014

Speaking of value, insurance and autos....
I gave the keys to my 3x award winning 97 DB7 Aston to a "Dealer" to
auction. He had the business card, the knowledge and grew up across the
street where his parents still live.
Turns out he was a psycho. No shop. Trashed the car, nearly destroyed the
engine (there aren't replacements).
Disappeared to Europe. Parents are heartbroken.
Police would not take a report as I gave him (the flat bed driver) the keys.
Farmers insurance would not pay a dime since I got the wreck back (so not
stolen) and they didn't consider it vandalism. Dealer estimate to fix was
$40,000. Sold it for scrap and a huge loss to a fellow Healey club member
who wants to fix it over time.
Just a word to the wise about who you hand over your keys to.
Ron Davies 67 BJ8

-----Original Message-----
From: Healeys [mailto:healeys-bounces at autox.team.net] On Behalf Of
ruvino at ripnet.com
Sent: Friday, November 07, 2014 10:33 AM
To: healeylist
Subject: [Healeys] insurance

A little background.
Recently we had a break in and my wifebs jewellry was stolen. The best
pieces had been appraised 15 years ago and were listed on the policy
individually for which we paid an extra premium.

Well when it came time for the insurance company to pay out they had the
pieces re-appraised by their jeweller and the values came in less than what
they had insured for. itbs a long story but buried in the policy was a
vague statement to the effect that they had the right to re-appraise.

So after paying an extra premium for 15 years it didnbt matter, they would
only pay what they deemed appropriate.

So why this story?

I got wondering about the policy on my car. I have assumed all along that
the appraised value is what the insurance company would pay out if say the
car burned to the ground. I checked and was verbally given an assurance that
that is the case. My insurance is with Hagerty through a broker.

You might want to check with your insurance company.
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