insurance

[<chrycordoba@xxxxxxxxxxxxxx>]

I also have JC Taylor for the Imperial and Riviera, and have been very pleased
with their professionalism and courtesy, though I've never had the need to
file a claim.  The application form is set up for what I know as "stated
value", probably also "stiplulated value".  I'm not sure what "market value"
would be, but I'd be leery of it because it might lead to more discretion on
the part of the insurance carrier in the event of a loss, much as fighting
with Allstate or State Farm when they don't value the car as much as the
owner.  For example, my mechanic bought a salvage-title 60,000 mile 1990
Lincoln Town Car that had a very minor rear fender dent, but which the
insurance company decided to total.  The car was in very good shape other than
the easily-fixed dent.  If I were the owner, I'd be livid that the insurance
company totaled the car over something like that.

Through an appraisal or just what I realistically believe the cars to be
worth, I indicate an amount and pay on a rate/$100.  I think it was something
like $0.35/$100 for comprehensive and another $0.35/$100 for collision.  The
other coverages - uninsured motorist, liability, etc. had flat fees.  I
insured both cars at $10,000 each; the first car was $100 total, I think.  The
second was somewhat less.  The company would justifiably question an inflated
value for a car, especially in the event of a loss and you tried to profit at
the expense of the carrier.  A non-convertible '64 (or '59) Imperial Crown is
unlikely to be worth $50,000, even if the insured were willing to pay the
premium for that value.

Neal Herman
1959 Imperial Crown
1972 Buick Riviera
1983 Chrysler Cordoba

On Wed, 04 Sep 2002 13:51:14 +0000 DR CHALLENGER <drchallenger@xxxxxxxxxxx>
wrote:

> do not they sell "market value" coverage?
> 
> 
> >From: "Nicholas Essinger" 
> >Reply-To: mailing-list@xxxxxxxxxxxxxxxx
> >To: mailing-list@xxxxxxxxxxxxxxxx
> >Subject: IML: insurance
> >Date: Tue, 03 Sep 2002 18:16:02 -0400
> >
> >
> >Howdy, boys & girls:
> >A comment on our insurance for these fine old
> cars.  If you haven't tried 
> >the fine folks at J.C.Taylor (in your local
> area or their home office), DO 
> >GIVE THEM A TUMBLE!  My 64 Crown Coupe is
> covered for a $113 annual 
> >premium, at stipulated value of $11,000, with
> full coverage (read, no 
> >deductables), and has NO MILEAGE limitation --
> other than it can be driven 
> >for pleasure / shows only (NOT TO/FROM WORK). 
> No, I am NOT their employee; 
> >I just recognize fine service.  Later,  ne
> >
> >_________________________________________________________________
> >Chat with friends online, try MSN Messenger:
> http://messenger.msn.com
> >
> >
> >