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Re: another BGT bites the dust

To: Dan DiBiase <d_dibiase@yahoo.com>, mgs@autox.team.net
Subject: Re: another BGT bites the dust
From: David Councill <dcouncil@imt.net>
Date: Wed, 25 Oct 2000 20:07:06 -0600
My son was fine but did graze his knee (very minor).

I do recall that we had a few people on the list in the insurance business 
and there was some pretty good input last time this came up. I don't recall 
who it was or how it turned out for him though, but the situation was similar.

I did find another good site where you can get the NADA used car values. 
This one is worth checking out -
http://www2.nadaguides.com
It shows the value of a 71BGT ranging from $3875-$10400 although arguably, 
my car would be on the low end of the "low retail" mentioned. By 
comparison, it shows your 76 MGB with average value of $5475 with range of 
$3100-$10850 which seems in line to the agreed value you mentioned.

So it looks like I may not be in too bad of shape as far as getting the BGT 
back on the road, replacing it, or harvesting the parts and resurrecting it 
into a better shell.

David Councill
67 BGT
71 BGT


At 06:42 PM 10/25/00 -0700, Dan DiBiase wrote:
>David, sorry to hear about this but assume your son is okay....
>
>Re: establishing value - I would not think that offering prices would be
>an accepted barometer of value to an insurance company - you would
>probably need to find 'comps' similar to when you're selling your home. Of
>course, finding comps is tricky because of varying conditions.... However,
>I know some of the classic car insurance companies have tables that say
>for a particular car in a particular condition (1 thru 5), a "normal"
>agreed vale is $XXXX... For example, my 76 MGB Tourer (which I rated as
>between a 2 and a 3) has an agreed value of $5000. Unfortunately, I have
>forgotten the definitions of the ratings! Although it sounds like your
>would be more towards the 3 or lower end of the scale.
>
>Seems to me we had a couple of folks in the insurance industry out there
>(or was that in the archives?) as well as a couple of had the same
>unfortunate circumstance as you.....
>
>Best of luck....
>
>
>=====
>Dan DiBiase
>Dayton, NJ
>76 MGB Tourer Driver - Brooklands Green
>66 Pull-handle MGB Tourer Project - faded Tartan Red
>NAMGBR #5-2328
>
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