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Message-ID: <3974C08E.F946E2@ndc.gmeds.com>
Date: Tue, 18 Jul 2000 16:39:42 -0400
From: Chris Young <pzs83j@ndc.gmeds.com>
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To: "Creamer, Mark" <CreamerM@cintasmail.com>
Subject: Re: Insurance
References: <203C70C4747FD311B11F00508B5E0801120C46@cintasmail.com>
"Creamer, Mark" wrote:
> Yet another question, folks. Are there any special concerns when looking for
> insurance on my TR6 when I buy? Do "regular" insurance companies understand
> these cars well enough to protect me and the car without charging me a
> premium (no pun intended)? Or is there something valid to these so-called
> classic car insurance specialists?
>
> Looking forward to the day when I can contribute here more than I ask ;-)
> Thanks!
> Mark Creamer
> TR6 TBA
Mark,
I have my car insured by Haggerty ins. I read about them in European car two
years ago and checked their policy, Basically for every $10,000 it will cost
you $100.00 to insure your car. I have the TR insured for $15,000 and the TVR
for $9,000. The TVR I may increase after the resto is done. There is no
mileage limit but the stipulations are: You must have a second car. The classic
car cannot be your daily driver. It must be garaged. A photo(s) of the car
and list of modifications (if any) are to forwarded to the company. The car
also has to worth more than $5,000. After the review of the information send
to them, you are issued a policy. A one time payment and in return your
insured for the year and the car has an agreed value in the case of a write
off. Collision, comphrensive, and all the rest are included. I found the
service quite nice to work with and the people were extremely nice. It
appears the business was started by a few wealthy classic car owners in the
early to mid eighties because of the lack of good service at that time for
classic cars. That is the basics from memory but they send you a detailed
information pack upon inquiry. I pay $263.00 a year for both cars. The TVR is
insured all year long even though it's not running right now. It's a great
piece of mind for me. I had the TR6 insured through my regular insurance for a
few years and I payed more for less coverage. No collision and I would't
recommend this. If you live in a No-Fault state, even if the other party is at
fault; YOUR insurance company still pays for YOUR car. So in other words, if
you get rear ended by someone and even if they have insurance your company only
pays the cost of repair if you have collision coverage......Now if your car is
old, they will give the song and dance of the Blue Book value which is always
of a different printer than the ones we get! So even though you might have
collision, they may give you a hassle on how much to fix....the adjuster is not
accustomed to classic cars, nor where to even start, or you may get the
classic..."what kind of car?" from the company switch board! Then they try to
give you a grossly undervalued payoff in which you have to send documentation
to and lot's of begging over the tele to get more of a settlement..... Now I
know this all sounds depressing but it's happened many times to many people.
Haggerty supposingly has a great reputation...I hope I never have to find out
but I have read, tlaked to those that have a policy and heard more good things
than bad..... Hope this helps! If you can't find the number, let me
know....I'll bring in the number tomorrow. They are located in Lansing,
Michigan.
Chris Young
74TR6
76TVR
94BMW
93Ducati
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