[urq] RE: Classic policy with stated value

[Mike Del Tergo]

Colin,
it might be interesting to see who you use.  I guess I really have no poblem 
paying full frieght for coverage, the real problem being what is "actual 
cash value"?  With blue book my fairly pristine Urq with "tasteful" mods 
would get me about $1,100 so what am I paying insurance for?  Allstate does 
not do stated value. I guess the best hybrid would be an unlimited use 
policy with stated value.
(who do you use?) I stuck with them foe 10 years as my UrQ was hit in the 
rear 9 years ago and they tried to total it for $300 worth of damage.  Then 
the appraiser looked at it and said OH!  I figured I'd keep it there because 
since then they knew, or should have known what they were taking on and I 
would have a great case if I ever balled it up.  (just try toget someone to 
write coverage on a car that doesn't even show upin the database and whose 
VIN is nonconforming, OH, right, that's exactly what your doing!  I agree 
with your use philosophy, but as I dig deeper, Almost noone will cover you 
for even "educational" track use, and I am taking a chance with both cars 
there.
Our family has 2 daily drivers and my UrQ and 911.  I get quite a savings 
with them all on one policy, but still GEICO will do my 2 200 avants for 1/2 
allstate and hagerty is 1/2 for the other 2.  I'm a bit surprised that 
hagerty won't write the SQ.  There really only has to be a meeting of the 
minds on value and you pay the premium.  I mean some one must insure all the 
rods Boyd Coddington sells.
Good luck trying to get comparison sales to validate value.  Its what you 
paid.

>I have been wrestling with this issue too.  Its been quite interesting to 
>say the least.  I have also had the same experience with my SQ but Dave 
>Haggerty told me that he would not cover it because it is not a Classic or 
>a Collector car and despite information from Europe, he would not accept my 
>stated value.
>
>Possibly he is right, at least in the US, our cars have no more collector 
>value than a Citroen, Prinz or a Skoda of mid 80s vintage.  Interesting 
>perhaps but so few are willing to pay recognized (i.e. published or 
>auctioned) value that the underwriters are making unsubstantiated bets.
>
>So I have gone with stated value non collector/classic cover which lets me 
>drive whenever or wherever with a few caveats such as locked storage.  In 
>any event I find it hard to understand the value of a collector or classic 
>car if you cant drive it to work or run an errand because you feel like it. 
>  That's as ludicrous as owning a fine painting and locking it away.  
>Perhaps as a means to hedge inflation or store value that could make sense 
>but surely few of us are dumb enough to think that an 83 Urq will ever be 
>worth much more then their current market value for say, oh the next 20 
>years!
>
>Just my opinion of course but I have really tried to understand the car 
>collector mind set and without the driving and drivability component, these 
>vehicles will rot.  Regular use means at least once every 2 weeks IMO.  
>Maybe not driven far but enough to warm up all the fluids which I think 
>means plus 10 miles.
>
>Also today's fuel blends deteriorate faster than they used to adding to the 
>crud coming from the tank material or days past.  So you have to use that 
>fuel tank in less than 120 days or you are running less than 87 octane.
>
>Colin

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