Bill:
That's an interesting observation. In setting the agreed value coverage on my car, I had been looking at it from the perspective of "how much is it likely to cost me to purchase a comparable car in comparable condition to replace my current car, should it be totalled?", not "how much would it cost to restore my car to its current condition if it is in a serious accident?" These are potentially two very different numbers, as you point out. If I were emotionally attached to my vehicle (i.e., I would really want to have that particular car back, not just another car like it or one of similar market value), then clearly the agreed value would need to be raised (which of course bumps up the annual premium proportionately).
What I don't know if whether insurance companies have some limit on the maximum value they'll agree to cover for a particular make, year and model car. For example, if the market price for a 19XX Mopar Model Z in #1 condition is $20K, would they agree to cover your Model Z for $50K?
Steve From: 1962to1965mopars@xxxxxxxxxxxxxxxx <1962to1965mopars@xxxxxxxxxxxxxxxx> on behalf of Bill M <y1topbanana73@xxxxxxxxx>
Sent: Monday, June 20, 2016 10:19 AM To: 62-65 Mopar List Subject: Our Classic Car Insured Values So I was watching the show Fantomworks this last weekend and something made me wonder. They has a 64 GTO that was hit in the LF fender, and the right side door & quarter with damage to the A & B pillars. The insurance company totaled out the
car "sight unseen" and it was insured for $65K. The shop spent ~$62K to fix it.
-- So my question is...are we placing too low a value on our cars especially in the event of an accident? Hell...I just went to a local reputable shop that does restorations and just to paint my 65 Coronet 'vert and do any minor body work necessary was going
to be $12K-$14K! If I were to wreck it, I'm sure it would be close to if not totaled, and I have it insured for ~$32K.
Should we all call our insurance companies and bump up our agreed values? Thoughts? Bill M 65 Coronet 500 'vert http://goo.gl/6xUS1
73 Dart Sport, 05 Ram 2500 CTD, 4WD, QC, LB, Laramie 12 Journey R/T, 14 Avenger R/T, 21 Model T Depot Hack -- -- Please address private email -- email of interest to only one person -- directly to that person. That is, email your parts/car transactions and negotiations, as well as other personal messages, only to the intended recipient. Do not just press "reply" and send your email to everyone using the general '62-'65 Clubhouse public email address. This practice will protect your privacy, reduce the total volume of mail and fine-tune the content signal to Mopar topic. Thanks! 1962 to 1965 Mopar Clubhouse Discussion Guidelines: http://www.1962to1965mopar.ornocar.org/mletiq.html and http://www.1962to1965mopar.ornocar.com/general_disclaimer.html. -- You received this message because you are subscribed to the Google Groups "The 1962 to 1965 Mopar Mail List Clubhouse" group. http://groups.google.com/group/1962to1965mopars?hl=en. --- You received this message because you are subscribed to the Google Groups "The 1962 to 1965 Mopar Mail List Clubhouse" group. To unsubscribe from this group and stop receiving emails from it, send an email to 1962to1965mopars+unsubscribe@xxxxxxxxxxxxxxxx. For more options, visit https://groups.google.com/d/optout. -- -- Please address private email -- email of interest to only one person -- directly to that person. That is, email your parts/car transactions and negotiations, as well as other personal messages, only to the intended recipient. Do not just press "reply" and send your email to everyone using the general '62-'65 Clubhouse public email address. This practice will protect your privacy, reduce the total volume of mail and fine-tune the content signal to Mopar topic. Thanks! 1962 to 1965 Mopar Clubhouse Discussion Guidelines: http://www.1962to1965mopar.ornocar.org/mletiq.html and http://www.1962to1965mopar.ornocar.com/general_disclaimer.html. -- You received this message because you are subscribed to the Google Groups "The 1962 to 1965 Mopar Mail List Clubhouse" group. http://groups.google.com/group/1962to1965mopars?hl=en. --- You received this message because you are subscribed to the Google Groups "The 1962 to 1965 Mopar Mail List Clubhouse" group. To unsubscribe from this group and stop receiving emails from it, send an email to 1962to1965mopars+unsubscribe@xxxxxxxxxxxxxxxx. For more options, visit https://groups.google.com/d/optout. |