Insurance is a necessary evil, much like paying taxes. Your motivations and
those of the insurance provider are quite different; you want to protect
your investment and property, the provider wants to protect their exposure
and capital.
As has been said, the mainstream providers are not equipped to handle old
cars that have reached the end of their mass-market appeal. You have
discovered this in Geico's approach to establishing the value of your car,
although they should be able to narrow down their valuation a bit more
precisely.
I have agreed value coverage with State Farm. I obtained several appraisals
which they accepted and they took photographs of the car and detailed
descriptions of the condition and equipment. This to ensure that I wasn't
driving a one-off or home built and trying to pass it off as a proper TR6.
There are restrictions on the use of the car, but not the draconian "you
can't drive it" terms of some providers. The rate is quite reasonable. I
have never needed to file a claim, so I can't say how the story ends.
Just some thoughts....
Phil Barnes (peb3@cornell.edu)
Cortland, NY (nowhere near New York City)
'71 TR6 CC61193L (25 year owner)
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