Jack, do you think they would accept a 292 as equivalent??
Dave Shier
www.mtntown.com
Al Jones wrote:
> I just insured a recently restored '50 with my current carrier, State Farm.
> They just implemented "classic auto" insurance underwriting. For 50/100
> liability, 100 deduct on collision and 100 deduct on comp, towing, uninsured
> motorist, underinsured motorist, other junk, and an assessed vehicle value
> of $25,000, it's about $100 every six months. Note there are *some*
> restrictions on the policy (like it can't be your every day driver, but
> there is no mileage restriction), but I get to pick the place where it's
> fixed. The policy was very good for me and seemed to be fair (I've had
> several claims with State Farm and they have always done a good job -
> however, I expect to experience a few bumps if I make a claim for my '50
> because of their adjusters inexperience with classic autos). They required
> that an assessment be conducted by someone off their "certified list" (to
> the tune of $175 but the guy knew his stuff) and faxed to them to determine
> the rates. Here's the kicker: it has to be stock. Mods like a V8 will
> prevent you from getting this policy. It took some bantering, but they
> accepted my '61 261 as an "equivalent" substitution for the original 216. I
> was impressed they even knew about that sort of thing. Good luck.
> ----- Original Message -----
> From: jack halton <safesix@worldnet.att.net>
> To: oletrucks <oletrucks@autox.team.net>
> Sent: October 20, 1999 6:25 AM
> Subject: [oletrucks] Insurance (boring)
>
> Well it's time to renew insurance and I'm finding that all of the companies
> that advertise the free quotes (guaranteed to save you money or you get a
> free calculator) are totally clueless when it comes to figuring a rate on an
> antique vehicle. Either they just won't do it, or they have to submit a
> request to some byzantine underwriting department and it could take up to a
> week to get a quote. I have visions of some guy in a dark basement office
> working on a manual adding machine, surrounded by stacks of old ledgers,
> working with an inkwell and quill pen. One company actually asked me the
> original sticker price of my '51 GMC and tried to figure depreciation!
>
> I used to drive this truck to work every day, when it was a beater. But over
> the years I have sunk so much time and money into it that it's worth
> considerably more than what it was originally valued when I bought the
> policy. Unfortunately, they won't increase that stated value without an
> appraisal (which I would have to pay for) and the only place that does
> appraisals locally gave me a guesstimate (no charge) which is way below what
> I would have to pay to replace it, if it were totalled or stolen.
>
> Of course I've procrastinated on renewing my policy, so only have a couple
> of days to either find a new insurer, or stay with my current plan. I have
> another car I use for a daily driver these days, they can all insure that
> one with no problem, saving me some money as well. I guess I could insure
> the truck with another company, but would rather not hassle with two
> insurance carriers.
>
> Does anyone have any recommendations for an old-truck-friendly insurance
> carrier who is familiar with these types of policies? Or any list members
> who actually sell insurance, who can help me get a fair stated value policy
> on my truck?
>
> Jack / Winter Park FL
>
> oletrucks is devoted to Chevy and GM trucks built between 1941 and 1959
>
> oletrucks is devoted to Chevy and GM trucks built between 1941 and 1959
oletrucks is devoted to Chevy and GM trucks built between 1941 and 1959
|