[TR] Tr-General Question

[Dave Connitt]

Jonas,
That very situation happened to local TR6 owner who was side swiped in a
corner while driving his TR6. He had an agreed value policy on his car
(can't remember the carrier). Anyway, the car was totaled and he got a check
and the insurance company took the  title. The car was auctioned off but it
went for way more than he was willing to pay. Good news is that he was able
to purchase another comparable TR6.
Dave Connitt
'67 TR4A IRS
http://DavesTR4A.com


-----Original Message-----
From: Triumphs <triumphs-bounces at autox.team.net> On Behalf Of
jpaynepbr at cox.net
Sent: Wednesday, July 11, 2018 3:23 PM
To: 'Lawrence Schwartz' <l1j1s at aol.com>; triumphs at autox.team.net
Subject: Re: [TR] Tr-General Question

Lawrence,

When you get an "agreed value" policy, be aware that most states consider
the car to be a "total write off" at about 80% of its value.

If your car sustains damage that exceeds 80% of it's agreed value, the
insurance company takes the title and the car and pays the agreed value and
you have the $ but no car.

You can negotiate with them to buy the car back if you want to repair or
part out the car, but it will then be a "salvage" title. 

If it isn't a Ferrari or Aston Martin type of blue chip vehicle, and it is a
restored car, you should value the car at the value of a solid replacement +
restoration costs + 20%.

Jonas Payne
PBR Consulting Services, LLC
702.882.6711

-----Original Message-----
From: Triumphs <triumphs-bounces at autox.team.net> On Behalf Of Lawrence
Schwartz
Sent: Tuesday, July 10, 2018 6:14 PM
To: triumphs at autox.team.net
Subject: [TR] Tr-General Question

List, In evaluation a car to figure what a vehicle that be a collector's car
to determine what it is worth in today's market has the Hagerty Insurance
Valuation tool become the norm? Please List voice your opinion as for myself
i do use the Hagerty guide. I want to make it clear that other then the fact
I do have my car insured ruth Hagerty that there is no affiliation with
them. Larry Schwartz   1960 Tr3a 

Sent from my iPhone

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