Fellow Imperialist's:
Kenyon, as usual,
is right. There are several insurance companies that cater to our vintage
needs. JC Taylor will insure YOUR car for WHATEVER value you
choose [and based on existing condition of vehicle with
pictures] and you will pay as such.....that said, these companies
understand how we care for our cars ( low mileage, limited driving ![]() , baby care ) and it is
taken into heavy consideration....and if recollection
serves, although I wish I could carry more, my cars are all in the same 3+/2-
condition and my '68 300 for 25K with all the inherent collision, and
personal injury to 250K, etc., -even windows- costs me about $170 here in
Massachusetts and my '56 Imperial with 25K worth of coverage costs just about
that as well, the '55 New Yorker is 20K and $130 or so, these rates existing on
vanity/antique plates ONLY......according to my insurance agent, I can raise 'my
stake' anytime, paying for the privilege of course, but
satisfied.......
Jack
In a message dated 10/1/2007 8:05:54 P.M. Eastern Daylight Time,
imperialist1960@xxxxxxxxx writes:
---
"E.Wood" <erwood@xxxxxxxxxxx> wrote:
I also don't understand how the
insurance
> company can say my car
> is only worth a maximum of
$20K since I can find no
> record of a public
> sale of one of
these except for mine.
The insurance company can say whatever they
want,
since they are writing the contract.
What you want is
an insurance company that writes a
contract that you WANT, so send it back
to the kitchen
and refuse to accept anything other than good value
for
your money.
This will likely mean changing carriers from
a
wal-mart sort of thing to a boutique place. - Hagerty
and many
others that cater to old car owners should
know better than to hand you
such a line of baloney,
but you'll have to see.
They go by
several names, but what you want is a
"declared value" policy whereby YOU
assign a value to
the car, the ins. co. agrees (or doesn't) to
insure
the car for that amount, and any claims made are made
under THAT
policy's limits.
It's all about mitigation of risk, and the $20k
folks
just don't have provisions for (or don't want) risks
exceeding
$20k per insured vehicle.
The ins industry is dealing with the entire
automotive
spectrum and they play C.Y.A. to avoid rating you for
a sub
$20,000 car on paper that winds up with an
unexpected claimed higher value
at time of claim.
Your car to them is most likely lumped in
with
ANYTHING more than 10 or 15 years old or some general
category like
that, which means that they do not
differentiate between your car or a
clapped out 200k
mile 1983 Cadillac with gold rims and a bad muffler.
Think of it from their perspective if you were to
insure someone
else's "old car" and the ensuing repair
without setting limits. It's
a special area with
especially cranky customers (us).
Kenyon
Wills
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