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Author Topic: Insurance  (Read 829 times)

Johnny D.

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« on: May 23, 2008, 09:13:54 AM »

I'm looking to get the NYer on some kind of classic representation insurance...

I know i can register it as a classic, or get the so called QQ plates, but at the insurance end I'm getting a lot of nonsense, must be 30 to drive car, must have garage...

what do you use for insurance and registration...


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Leaburn Patey

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« Reply #1 on: May 23, 2008, 09:28:08 AM »

The classic car insurance does have limitations.
One thing you cannot do is go get groceries with the car
Which means no Dunkin' Donut runs!! LOL!!
I am using the Silver Wheel classic car plan on the New Yorker.
Fortunately,mine does not have a mileage limit.
I need to show proof of a registered/insured daily driver.
Basically they want you to drive your beater back and forth to work,to the supermarket,etc.Not the classic car.
And my car is suppose to be parked in a garage  when not in use.Albeit any storage space whether it is my garage or somone else's I rent-for example.
CBarge2008-05-23 17:19:04
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Stan Paralikis

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« Reply #2 on: May 23, 2008, 11:39:49 AM »

Hagerty's. $120 w/towing and no deductable.
They required no appraisel and insured it for the value I asked for.
Commando12008-05-23 16:41:30

Bill Mounteer

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« Reply #3 on: May 23, 2008, 02:55:30 PM »


[/QUOTE]

Works until you make a claim, when the salesman has amnesia and your claim is disallowed.

The key thing to remember with insurance, or any contract for that matter, once you sign it, the written word becomes the only word and anything said by you or the salesman is null and void.

Insurance adjusters aren't stupid and they earn their dollars by disallowing claims, so they will check everything very carefully before any payment is allowed. So if you are going to a "car show" you better have the place and time handy and be able to show why you were hit on street "A" which may not be on the direct route. Because of this, if you drive errands, your insurance is basically void.


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Arlen Vander Hoff

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« Reply #4 on: May 23, 2008, 03:53:44 PM »

I had Hagerty Insurance(based here in MI)  too Mob, seems to me I have/had unlimited mileage and I could go for "rides." when ever I wanted but I got a price break if I got the "cinderella" plates (as Mr. H calls em) So technically I was/am only supposed to drive the car to shows or parades but the cops don't enforce it around here. I see a lot of guys going to the store or out for ice cream or bookies or whatever around here. And I don't recall them having an age limit either (unless its just because I'm an old fart!!!)
go to www.hagerty.com and see what they have to say. In the words of my Dad "It don't cost nothin' to look!!!"
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Bill Mounteer

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« Reply #5 on: May 23, 2008, 06:04:27 PM »

The cops don't much care what kind of insurance you have as long as you can show you have paid the premium. While you are cruising to get a burger, you have valid insurance and you still have valid insurance if someone T-bones you before you get there. 

The problem is getting the insurance to cover the damages. If the adjuster can show you broke any of the weasel worded restrictions in the policy, your claim will be denied.

That's simply how contracts work, so you can play all the games you want, but should you ever make a claim, be prepared for a rude awakening. I've worked with a few claims adjusters and they were all pretty sharp and very aware of all the games people play. The insurance company doesn't much care if you play games either, they collect your money each year and rely on their adjusters to catch your mistakes.

The only solution is a policy without the usage restrictions and that means full coverage. IMO classic car insurance is useful in the case of fire, theft and vandalism, but if you plan to drive the car anywhere, beware.


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Arlen Vander Hoff

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« Reply #6 on: May 23, 2008, 07:17:54 PM »

But by the same token I had "regular" car insurance companies tell me that sure we'll take your money every month but if you wreck your car we'll give you $250 dollars for it because its a POS 1966 Chrysler. And the book says its worth 250.
So who do you believe??? Yeep!!! you might as well run around with NO insurance and takes your chances!!!!
Or just leave the SOB in the gararge!!!!
 
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Bill Mounteer

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« Reply #7 on: May 23, 2008, 09:48:08 PM »

When you really look at the costs, you really only should buy liability insurance in case you get sued. For insurance that covers actual damage to or loss of your car, you should have the car appraised and just buy replacement insurance for that amount.

Where many problems arise with depreciated value insurance, is trying to agree on what the depreciated value was at the time of the accident. As many have discovered, the depreciated value is a lot lower than the current market replacement price.

So, if in your example, the book value was $250, does it sound reasonable to pay a few hundred dollars a year to buy $250 worth of insurance?  Unfortunately many people do and whats worse, they'll buy a policy with a $500 deductible so they end up paying the insurance company good money for ZERO coverage. Now thats dumb!


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Stan Paralikis

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« Reply #8 on: May 24, 2008, 02:46:52 AM »

I dunno, guys.  You may be a tad too harsh on Hagerty.
 
My friend's car is with Hagerty.  I was helping him strip the vinyl roof when I cracked the windshield.
 
He called Hagerty on a Thursday, told them a "grapefruit fell and cracked it" (really  )
He had a check in his mailbox the following Tuesday for $675
(Being a good church-going soul, he sent them back $300 because the actual cost to replace it was only $375).

Bill Mounteer

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« Reply #9 on: May 24, 2008, 10:07:49 AM »


Sorry, I'm not really talking any particular company, more the general way the insurance industry operates. Let me qualify that further, to mention that the coverage you get depends to a great extent on the ability of your agent and his or her willingness to go to bat for you. Never, if possible, deal with a store front agent where the person handling your claim basically couldn't care less about your problems, they just want to close the file.

With the windshield, that's covered under comprehensive coverage and the agent really doesn't care if it was grapefruit damage or if it was accidentally damaged, the key word is accidental.

I've had two claims on my insurance during my 50 plus years of paying insurance, the first was a silly woman who changed lanes into my right front fender and the second was a hail storm. On the first claim, I got zero payment, but the agent got lucky when he discovered the silly woman was a hooker. On the second claim they removed all the dents and repainted the whole car to the tune of $4,000. Mind you the car was less than a year old so they couldn't do much to reduce the coverage.

I had two claims on my Fury that were completely handled by the "other" guys insurance and both were disasters. The first, a towing company had the car on the hook and the driver forgot to tie down the steering wheel and on his first turn, he went left and the car went right and a power pole caved in the passenger door. While the repair looked good, what they did was crimp a door skin over the damage. Later on while we were doing the restoration, we discovered the whole door was banana shaped and had to be replaced. The second, my wife was parked and a cop slid into the left quarter panel and the City of Calgary paid for the repairs. In that one, they roughly pounded out the panel and filled it with bondo. Again, during the restoration we discovered in one area the bondo was actually 2.5" thick. We couldn't believe that you could actually get it on that thick never mind that it didn't just fall off. Under the bondo was rust city.

So  ... that's why insurance is one of my pet peeves.

Fury4402008-05-24 15:10:17
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Leaburn Patey

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« Reply #10 on: May 24, 2008, 11:47:20 AM »

I'm surprised Polaraco did not comment on this topic.
He had to fight to get his claim settled on his '59 Saratoga
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Steve

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« Reply #11 on: May 24, 2008, 06:33:35 PM »

I didn't have insurance on the 59
 
Don't do it Mobby
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Bill

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« Reply #12 on: May 24, 2008, 09:16:47 PM »

What's the opinion on insurance by Grundy worldwide?   The only main rule they tout is that the car cannot be used for commuting.  I was quoted $75 per year on the Monaco.  Thinking of doing it even though it isn't on the street yet.
 
http://www.grundy.com/default2.asp
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Steve

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« Reply #13 on: May 25, 2008, 05:51:41 AM »

I don't believe that.  Read the fine print again
 
What Monster wants to do is OK, but don't have an accident at 10 at night.
 
Mobby, Polaraco has regular insurance on it like you should have.  There is no other proper way in NJ
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Arlen Vander Hoff

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« Reply #14 on: May 25, 2008, 03:40:42 PM »

Quote from: Commando1
I dunno, guys.  You may be a tad too harsh on Hagerty.
 
My friend's car is with Hagerty.  I was helping him strip the vinyl roof when I cracked the windshield.
 
He called Hagerty on a Thursday, told them a "grapefruit fell and cracked it" (really  )
He had a check in his mailbox the following Tuesday for $675
I'm not being harsh on Hagerty Stan, I have heard a few stories like yours and always with a good outcome. I have been fortunate enough to have never made a claim to them.
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