And that is why it's a good thing to get an appraisal and have the car insured
for that value.
Laura G.
>
>From: "Fred Thomas" <vafred@erols.com>
>Date: Fri, 28 Jul 2000 17:59:01 -0400
>To: <OHFASTONE@aol.com>, <tboicey@brit.ca>, <root@abingdon>
>CC: <shall@fastpointcom.com>, <nugentmd@gte.net>, <spitfires@autox.team.net>
>Subject: Re: BIZARRE LAWS (all cars)
>
>
>
>A few years back we had this happen in our local Mustang club, the owner
>just added his newly restored 68 Mustang to his regular insurance policy,
>car was involved in a total loss, his insurance wanted to settle for 2K, the
>owner sued the insurance company claiming he had paid 15K for the car and
>that was the value which he would settle for, the judge agreed with the
>insurance company on the 2K figure because the owner had stated on his DMV
>form he bought the car for 1K and paid the state that amount of tax for his
>registration, now DMV is after the guys license for filing a false
>application after he had signed the state form saying "ALL" the information
>contained is "ACCURATE". Truth only hurts for a little while when and if
>you get caught. "FT"
>
>
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