I was the one who sent the article to C Notes. I was directed to it by
someone on the list who pointed to the url in one of his messages.
As a result of that article I have been going around and around with my
insurance agent. She kept telling me that everything was OK, and that I was
covered to the extent that I wanted to be. After some prodding I finally
found out that even Stated Value is a fraud. You tell them how much
insurance you want to pay for, and when it comes down to it they have two
books that they consult for the value of your car. When I asked her to show
me the books, she said she would ask the company for the pertinent
information from one of them, but the other required a fee to be paid by the
insurance company so they wouldn't do it. I can't tell you how many times I
asked what I would get if my car was totaled, and how many times I got a
bull shit answer.
Bottom line: you can pay all you want for whatever level of insurance you
chose, but you aren't going to get a cent over what THEY DECIDE your car is
worth. I am sure it will surprise no one if I tell you the book evaluations
of my cars was low.
Since I live in Illinois, and insurance law and rates vary, this might only
apply to this state. Also, she said I had to have Antique Auto Insurance in
order to get stated value.
Jack
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