Doug Wilson wrote:
>
> Hi List, I had an accident with one of my cars. It was a write off. State
> Farm Insurance first offered me $800. I prepared a package of "for sale" ads
> of similar cars and a copy of a recent Hemmings Motor News to prove my car
> was worth more. They settled for $2000. So don't take the first
> offer.....good luck.....76B Ottawa Canada
My insurance company 'specialises' in calssic cars, sponsors classic car
events,
etc. and speaks at club meetings (the pity is that the founder of the company
passed away a little while ago and he was the classic car lover - we hope he
employed similar people). The thing is that, as a small company, they have to
be
underwritten by/aligned with a major insurance company and in this case it is
Sun
Alliance (I believe) who may not share their classic enthusiasm.
Also as a small company they do not have offices everywhere with teams of
assessors so they use 'generic' assessors who probably don't have incredible
classic car sensitivities and whose job it is to try for the lowest possible
exposure for the employing company.
The assessor I dealt with pushed quite hard for the lower cost (but
unacceptable
to me) option of a steel bonnet/hood over the aluminium bonnet. But I have to
admit that I didn't have to fight THAT hard to get my way... I just remained
FIRM.
However, any person without the same confidence or resolve would probably have
been swayed to their way of thinking.
The cost difference between the two options (includes bonnet, paint and some
other minor repairs to the car caused by the bonnet flying up):
a) Steel Bonnet - $AU 900
b) Aluminium Bonnet - $AU2600
There is a $200 excess to be paid on this policy.
Also the policy I have is an agreed-amount policy which values the car at
$AU13,000 with the owner retaining salvage rights to the remains of the
vehicle.
This is $AU2,000 more than I paid for the car and about what I would expect to
be
able to sell it for (and yes, I have put about $AU5,000 into the car over the
past 18 months).
There ya go... compare away (BTW the policy costs me below average premiums for
this amount of insurance).
Eric
'68MGB MkII
|