I could use some input on insurance coverage that I have on my cars.
Decoding some of this jargon is not my forte. Insurance is getting so
tight on our cars these days I want to be on the safe side with my coverage
before I actually need to use it.
Policy wording is as follows:
Please note that any loss settlement will be based on the LESSER of the
following- AT THE TIME OF LOSS.
A . Our limit of liability for a partial loss will be the lesser of :
1. The actual cash value of the stolen or damaged property, or
2. The amount necessary to repair or replace the property, or
3. The maximum limit of liability shown in the Declarations.
B. Our limit of liability for a total loss will be the amount shown for
each scheduled classic car which is agreed to be the value of your
covered auto.
I have Actual Cash Values for my cars listed in my policy with no
restrictions on the cars usage time, place, or mileage.
Is there any wording or statements above that I should question or be
leery about?
Thanks in advance, Mark
58-MGA
60-MGA
76-MGB
74.5-MGBGT
60-BT7
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