Re: [Amc-list] Insurance, yes again...

[Frank Swygert <farna@xxxxxxx>]

Most insurance companies have one rate for low mileage cars (under 5K) and another for higher mileage. You must have at least on higher mileage vehicle with them to get the lower mileage rates. 

Stated value is more for peace-of-mind than anything, and a way for the insurance company to get more money from you for nothing. Others might be better than State Farm, but I had a stated value policy with them when my car was totaled. The other driver had State Farm also, so I expected to get a check for the stated value after telling them about it. They promptly told me they were required by law to give me current market value, and then tried to give me half the stated value -- which was lower than the value of the car (I had a $10,500 appraisal). I ended up settling with them for $9,500 and kept the wreck, but had to file a complaint with the state insurance commission to get it. 

Stated value might help if you have collision on the car, or if it's not an obvious total like mine was, but I don't get it anymore. I carry everything BUT collision on the Rambler and J-10, comprehensive is pretty cheap ($100 a year, maybe?) and covers everything EXCEPT me hitting something. Hit-and-runs in a parking lot, vandalism, theft, fire, and glass breakage. 

All the collector car places require you to have a fully enclosed garage with locking door too. I could tell them I keep it in the shop, but have a carport with two sides open that I built specifically for the cars. That's not good enough. I live far enough out in the country that no one in their right mind would try to steal anything like a car -- they'd get shot by either me, my brother, or my dad. We all live within 1/8 mile of each other and definitely know when the other is going to be gone for an extended period of time. 




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Date: Thu, 1 May 2008 17:21:26 -0400
From: "Bruce Griffis" <bruce.griffis@xxxxxxxxx>

I just use the same Insurance company I use for my daily drivers, my
home and my life insurance. I told them I'd keep the car to about 4K
miles per year, and insurance was cheap. They don't do stated value,
though - so that could be a drawback for people that have really good
cars.

-- 
Frank Swygert
Publisher, "American Motors Cars" 
Magazine (AMC)
For all AMC enthusiasts
http://farna.home.att.net/AMC.html
(free download available!)

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