88 5kq hit by kid backing out of driveway
six-rs at comcast.net
Wed Aug 22 11:13:23 EDT 2007
I have been able to obtain an "agreed value" policy for one
German car of the same vintage as the Audi for a sum essentially of
my own choosing, within reason, but considerably higher than
standard tables would indicate. The company is Hagerty
http://www.hagerty.com/ whose main focus is American
classic/muscle cars but which has a category called "Exotic cars"
meaning, I believe, interesting imported cars. Unfortunately,
the good ol' 5000CS didn't make the cut. Not enough 'rare'
factor I guess. Maybe an ur-quattro with a racing pedigree?
The down side is that your annual mileage must be less
than 2000 and you basically must treat the car as a show
car or a parade car as opposed to a grocery getter. But
the premiums are low and this sort of thing makes
sense in some cases.
But it's a real problem if you put a lot of time and money
into an older car that's worth nothing to an insurer. By
the way, I did talk to a professional automobile appraiser
about my Audi and he said don't bother with an
appraisal; just go looking in the market place - the Audifans
marketplace maybe? - and find a car on offer that has
about the same degree of improvements as yours. I'm pretty
sure that in my case, that number would be significantly
less than what I've got in the car. That's why I so eagerly
latched onto the "make you whole" argument I had read
about another list.
On Tuesday, August 21, 2007 5:34 PM,
"Grant Lenahan" <glenahan at vfemail.net> wrote:
> Dewitt -
> [ ... ]
> the issue -- for better or for worse -- is that your premiums should be
> calculated on a maximum vehicle value.
> There are insurance policies - called "agreed value" or "stated value"
> that insure collector cars, show cars, etc.
> But all others are based on repair tables, limited by the estimated and
> declining market value. Your premiums should be commensurate (for the
> collision portion only).
> If you have a rare car and want it insured for more than market value,
> you can sometimes negotiate it --- up front.
> On Aug 21, 2007, at 11:57 AM, DeWitt Harrison wrote:
> > I have to admit you folks have me worried now.
> > [ ... ]
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