Ed,
> Which brings me to my point.
>
> The other day I posted a question asking the difference between the
> various definitions of replacement when taking out collision
Yesterday I insured my 1964 Spitfire for the first time since I've
owned it, which is now 10 years. I'm am insured with state farm. My
premium runs $48 every 6 months. The coverages are 100/300/50 witha
deductible of $500 for collision and a deductible of $50 for
comprehensive. The agreed upon value was $10,000. I was told point
blank by my agent that if something happens to the car the value paid
to me would be $10,000. I saw them write that number into
replacement value on the insurance form. I am limited to 5000 miles
per year and it needs to be stored indoors. My family has been
dealing with this same agent for probably 30 or mor years. I have
no reason to expect that what was agreed upon would not take place
should something happen to my Spitfire. I'm not sure what definition
you would call my $10,000 write up. But I called it replacement
value when I was talking to our agent and he answered in the
affermative. By the way, I live in Lincoln Nebraska and our
insurance rates are definitely less than a lot of areas of the
country.
Hope this helps.
Brad
1964 Spitfire4 BFC25720L (After 10 years will be on the road in
March!!!)
1966 TR4A CT72398L (Needs Restoration)
1951 Dodge Truck 82217766 B-3-B-108 (Boxes & Boxes of parts right now)
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