Scott,
I use American Collectors for my two Cs. Have no experience with any claims
but was in the same position you are in now about 7 years ago. Allstate, my
regular car insurer wanted a lot of money for very limited - don't let us
catch you driving anywhere anytime - coverage. I have been meaning to check
JC Taylor again as several folks have indicated that they are not too
restrictive anymore (e.g., not just club events) - but at the time I got the
same impression as you that they are very restrictive. Found American
Collectors and they had a liberal pleasure driving allowance (up to 2500 or
5000 miles/year - can't remember which) but still - no parking lots, no second
car substitute usage, no commuting. The rates are comparable to what you
mentioned (a little over $100 each).
I've heard (again on a pervious threads) that JC Taylor comes through with
high grades on claims. I to would like to hear about experiences with other
companies to be certain that I'm getting a good value - especially American
Collectors which (read on) .....
... brings to mind a story about specialty insurance and what to look out for.
I had my wife's engagement ring insured on a separate policy rider for its
appraised value. I paid premiums based on the appraised value. When the ring
was stolen during a burglary of our home (East Meadow NY - DD -one of the
reasons I left!), Liberty Mutual was not willing to pay the loss amount on the
policy, they claimed that they would have one of their appraisers look at the
original appraisal and tell me what the ring was worth and pay that amount -
which - of course - ended up being substantially less than the amount on the
original appraisal (a 25% difference) - they claimed this was their policy to
protect me in case the ring had gone up in value (sure - I came down with the
last rainfall pal). They refused to budge even though I gave them several
appraisals from certified gemologist which agreed with my original appraisal
amount (two can play this game). They also refused my request for a refund of
the premium difference over the 4 years worth of premiums I had paid based on
the higher original appraisal (seemed reasonable to me). It ended coming down
to pursuing legal avenues or accept their less that face value offer - I took
the latter (with much contempt and disappointment). As a result of my
dissatisfaction with this claim, I dropped all of my insurance with them which
included cars, homes, personal liability umbrella, some life and a few
riders. 7-8 years later they still get me churning out sour grapes about them
whenever the opportunity arises - like now.
The moral here is that although I have my Cs insured for a particular amount -
I often wonder if I'll be covered for that amount if a full loss should occur
- or will my insurer come back and give me a Liberty Mutual story??
Something we all should consider!
Dr. Doug
69 C Rdst
69 C GT
69 B Rdst
71 B GT
-----Original Message-----
From: owner-mgs@autox.team.net On Behalf Of Trmgafun@aol.com
Sent: Tuesday, March 18, 1997 6:51 PM
To: Healeys@autox.team.net
Cc: mgs@autox.team.net
Subject: Another insurance question
Greetings,
I wish I had paid closer attention to the auto insurance thread a while back.
I had decided to go with State Farm with my MGA, since they've provided good
service in the past. I used them with my GT6 and they wrote me a policy just
like my other family cars. But with my MGA, they demand that I have the car
appraised prior to obtaining any coverage. State Farm doesn't provide an
appraisal service so I checked with a local appraiser. The man wants $100 to
tell me what my car is worth!! I said, sorry bub!!
I called J.C. Taylor, but learned that the car can only be driven to club
events. No golf course, no trip to the store, no occasional drive to work,
no taking the neighbor kids for a ride, no Saturday morning drives in the
country!! Pretty scary!!
I then decided to call some other classic car insurance companies and found
two that have reasonable prices and decent coverage. They both stress club
events only, but will allow an occasional pleasure drive, but no trips to
work. One is American Collectors Insurance Inc., they gave me a quote of
$101 annually for my MGA. The other company was Great American Insurance,
they quoted me an annual fee of $112. And no appraisal for either company,
they asked me what the car was worth and I told them. Anyone have any
experience with these two?
Thanks, (and sorry for bringing this tired old subject up again)
Scott
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