Phil Barnes writes <<... (snip of excellent example of coverage on rally
cars)...The
same thing holds for classic insurance, as I see it. I would not look
for compensation if I suffered a loss outside the limits of the coverage. I
may be (probably am) wrong, but that's my take on it.>>
My point exactly. The question to ask is "What is the chance that I will
suffer a loss
WITHIN the limits of coverage?" For most people it would boil down to a fire or
other destruction of the "locked garage". If that coverage is worth the price
of
the insurance for you, great. Another question (and one I have never
experienced and
really don't know the answer to): How firm is the liability aspect of classic
insurance?
Example: You drive the car 2 blocks to a 7-11 because it's a nice day and
you're at fault
in an accident. (Or in Phil's example you hit another rally driver or cause
property damage on one of the "closed" stages...) Outside the limits of
coverage.... Does
the policy still pay or does the other driver get to sue your pants off? I've
always felt
more secure with liability provided by my "standard" insurer. Am I being
overly paranoid?
Oh, once I was asked by my standard insurer if I intended to use the car in any
speed
competition to include autocross, rally, or other "sanctioned" events. I said
no (fairly honestly...
it was a Cadillac) but then asked the ramifications of saying "yes". The young
agent was
taken aback... checked with her supervisor.. who made me confirm that I wasn't
going to
race the Caddy... and then said they really didn't know what they would do
since no one
had ever answered "yes".... I've never been asked again...
Bill Elliott
"Just because you're paranoid it does not mean that everyone's not out to get
you!"
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