Jan and all,
One of the problems I found a few years back with the classic car
insurers advertising in Hemmings involved the no fault medical we have here
in Colorado. The coverage amounts of the classic car companies were far
below the statutory amounts. Therefore if you had a medical claim above
their coverage and below the Colorado statutory amount then there could be a
real hassle on who was responsible. Your regular medical insurance would not
pay because they are only responsible for amounts above the statute. Your
classic car insurer would not want to pay because it was above the maximum
under the policy and the premiums paid. Legally the classic car company
would probably be responsible because they sold the policy to someone in
Colorado under the laws of that state but you would probably have to go
through a lot of hassle to prove all that. Have others found recently that
the classic car companies adjust their rates to compensate for the different
no fault provisions in different states? I am guessing that many states have
no fault medical car insurance laws like Colorado.
I checked at the time with State Farm and they really were not
interested in selling a policy that covered only the difference between the
no fault level and the classic car insurers level. I suspect that even if
they did that the total of that policy plus the classic car policy would
offset any savings.
Dave McDermott
B9470035 and others
At 09:58 AM 7/30/98 -0700, JAN HARDE wrote:
>Allan,
>Could not have said it better myself.
>
>Happy TIGEEERRING for the rest of the summer, and see you @ the SHELBY
>show...
>
>Jan...
>
>
>-----Original Message-----
>From: Allan Connell <alcon@earthlink.net>
>To: CoolVT@aol.com <CoolVT@aol.com>; kevnmeek@netcom.com
><kevnmeek@netcom.com>; tigers@autox.team.net <tigers@autox.team.net>
>Date: Wednesday, July 29, 1998 5:39 PM
>Subject: RE: Insurance?
>
>
>>Kevin, Jan, Mark and the Tigger List,
>>
>>I too have State Farm and just got the bill. About $204 for the year and I
>>had to fight like hell to get the "classic" car rate. Full liability and
>>"agreed" value of $15,000. What a royal pain in the butt.
>>
>>Maybe I am getting hosed because I only have two other cars, the house,
>it's
>>contents, as well as a jewelry and computer riders covered with my agent.
>>(Hell, is there any more??).
>>
>>IMHO, stay away from State Farm if you can. They had to have three
>pictures
>>taken of my car on three different occasions. They required an appraisal.
>>They originally wanted NO mileage and me to sign an agreement that I would
>>TRAILER the car everywhere. Why in the heck, I asked, would I trailer a
>>perfectly good car to a car show. After a threat to pull all of my
>policies
>>and move to AAA, the agent eventually went to bat for me. The deal we
>>finally worked out was a maximum of 3,500 miles per year and that I do not
>>have to trailer the car to shows or parades (?? Parades, I don' need no
>>stink'in parades!!). And trust me, they DO check the mileage every year.
>>
>>Good Luck in your search for a good deal. Just make sure you can drive
>your
>>car. Just wish I could have gotten 5K miles per year out of 'em like Mark
>>did.
>>
>>Regards,
>>
>>Allan
>>B9472373
>>
>>-----Original Message-----
>>From: owner-tigers@autox.team.net [mailto:owner-tigers@autox.team.net] On
>>Behalf Of CoolVT@aol.com
>>Sent: Wednesday, July 29, 1998 9:49 PM
>>To: kevnmeek@netcom.com; tigers@autox.team.net
>>Subject: Re: Insurance?
>>
>>Kevin,
>> I posted my rates with State Farm Insurance last year. I pay $126.00 per
>>year and if I report that the car is put away for 4 monhs in he winter
>>(keeping only comprehensive on during that period) I get $45.00 refunded.
>>Therefore, my total cost is about $81.00 per year. That is for full
>>coverage
>>with $400,000 liability with an "agreed upon value" of $13,000 for the
>car.
>>
>> There are very few restrictions. I believe I'm allowed about 5,000 miles
>>per
>>year.
>>
>> There was much discussion on the "agreed upon value" and what a company
>>would really pay in the case of a total loss, so you should definitely ask
>a
>>lot of questions so that you would be totally sure of what you are buying.
>>
>> Mark L.
>>
>>ps. the car has to be stored in a locked garage and had to be appraised
>> also, I have home and 4 other cars insured with this agent, so my
>>rates might
>> be a little better
>>
>>
>
>
>
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