I think the issue is that your insurance company needs to be able to
value your car in case you have a serious claim. That is much easier on
a 93 Toyota than a 63 TR4. (Easier for them and easier for you.) It's
pretty simple to find a professional reference for what your 4 is worth.
Why not do that and call your agent? Say, "If my Triumph is wrecked,
what are you going to give me for it?" This thread started because a
list member was getting a quote from his insurance company on his
damaged 4 that was less than he thought it was worth. It's not the
insurance company's fault; they're unfamiliar with the cars and the
cars' values.
I had a car fire in my beloved 250 several years back. It didn't even
damage all that much, when you think about it, but a restoration cost
$7,000. I was really, REALLY happy that I had an agreement with my
insurance company that stated the car was worth $12,000.
Maybe you don't have that much invested in your British cars. Your
choice of course. I just don't think that ugly surprises are what
insurance is about.
BearTranserv@aol.com wrote:
> In a message dated 12/26/2007 12:17:27 PM Mountain Standard Time,
> pfischer@rmi.net writes:
>
> However, since we all are a little shaky on the terms - agreed vs.
> stated - it's very important to ask the question of your agent:
> Which do
> I have on my car? And what happens if...?
>
> Pat
>
> I know I'm late chiming in, but I don't have either stated or agreed
> value on my cars. They call it, I think, replacement value.
>
> My wife just wrecked the 93 Toyota Celica, 55000 miles on it. USAA,
> in about 10 days, sent us a check for $5700.00, and we got to keep the
> car. My mechanic and body man is fixing it for a little under
> $3000.00 and will respray the entire car.
>
> Since it stayed in my name, there should be no "salvage" title
> problems either.
>
> I haven't had a claim on the TR or MGs yet, but I anticipate similar
> service.
>
> Robert B. Houston
> Texan in New Mexico
>
> 63 TR4
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