Re: [Chrysler300] Baited Breath, Barrett-Jackson, & Collector Car Insurance

[moparpjf@xxxxxxx]

In a message dated 01/27/2006 9:06:33 AM Eastern Standard Time,  
john_nowosacki@xxxxxxxxxxx writes:

The  second issue is one of 'replacement value', to insure against the 'total 
loss'  scenario of a fire occurring in my garage, or the outright 
disappearance  (theft) of the car.  You can't fix it if it's not even there.
How do  you replace something that they just don't make anymore?
This is a tougher  issue, and I'd like to hear people's comments and 
suggestions regarding this  point.  Is that a different kind of insurance?
If my car is stolen, is  any insurance company going to give me a blank check 
and a plane ticket to  Barrett Jackson to buy a replacement?  I doubt  it.



If your insurance company has taken a premium based  upon $50,000, $100,000 
or $300,000, and you suffer a total loss (theft, tornado,  etc.) they should 
(will) pay you the stated amount, period.  They won't  give you a blank check, 
unless they limit it by the agreed amouont on the total  loss.  A policy with 
an agreed value is just that, and that is what they  will pay if you suffer a 
total loss.  The premium is set, in part, by the  value stated, so they assume 
the risk according to the premium.
 
Pete Fitch


[Non-text portions of this message have been removed]



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