[urq] Problem 1: Stated Value Insurance

[steven j]

In NY  if you have say 500K liability with Insrance 
Co. A. on your regular cars (Volvo for example) and
you get a 'classic policy' for you urq that has 300K
liability with Ins Co. B. you'd think if you have a
crash with your Volvo then insurance company A would
cover you for half-mill since it's the car they are
insuring.  But nope - Ins Company B gets pulled in and
since you have less coverage - you may have just
lowered your total liability coverage.  The whole
thing got so complex on the liability end - that I
gave up quickly,  especially since this classic
policies often won't go as high on liability.  With
no-fault my kids are covered if they get struck by a
hit and run crossing the street - so you can see why
having 2 insurance companies can get into insurance
company finger pointing - and non-payments. 
steve

--- Mike Veglia <msvphoto at pacbell.net> wrote:

> I have my '83 on stated value coverage (also in CA).
> (Thanks to Jeff Lewis for the idea!)
> 
> The big classic car insurance players, Grundy,
> Hagerty, etc apparently don't consider an Ur-Q to be
> "classic or collectable" but some do.
> 
> I'm with JC Taylor (http://www.jctaylor.com/)
> through the broker I buy my car and homeowner's
> insurance through. Stated value at $10k, no
> appraisal was required. I'm limited to only 2500
> miles a year, but that's not a big deal since we
> have four cars and I bicycle commute (and I'm
> becoming afraid to drive the thing for lack of spare
> parts availability, but that's another thread). The
> policy is cheap, only around $175/yr. I wish my '95
> Toyota T100 truck were that cheap! (It costs more to
> insure than our '95 A6q Avant--go figure.)
> 
> HTH
> 
> Mike Veglia
> 
> 
> 
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