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Date:         Mon, 3 Aug 2009 06:30:52 -0700
Reply-To:     Don Hanson <dhanson928@GMAIL.COM>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         Don Hanson <dhanson928@GMAIL.COM>
Subject:      Re: Legendary Tardis-Classic Car insurance for Westies?
Comments: To: Roger Whittaker <rogerwhitt1@gmail.com>
In-Reply-To:  <ccd73a10908021937o21dec234y5a0f5645fdc448e6@mail.gmail.com>
Content-Type: text/plain; charset=ISO-8859-1

"Stated Value" policies aren't at all a sure thing is what my attorney told me when I was in my last fight with an insurance company for compensation following a crash incident. Others (the appraisers and arbitrators involved in my case) who deal with the insurance industry for a living told me the same thing...semi-off the record, but as it was explained, it makes good sense and my (somewhat limited) experiences support this.

What you may think you read in your fine print and/or what your agent explains to you, in any insurance policy, is all subject to litigation...Insurance companies exist because of litigation and by litigation; they have large full time staff and volumes of actuarial (sp?) tables that compute their (and your) predicted expenses and the chances of an unfavorable judgment being reached every possible court situation. According to the experienced insurance industry-related pros that I was involved with, when "The Numbers" indicate to your insurance company that paying a claim would be more expensive than 'stone-walling' and taking their client to court to contest the claim, they will usually chose to 'contest' the claim.("It's business" after all, they need to make money for their stockholders...gag, choke ....) This is just what occurred in both my past insurance episodes..

Most of us 'civilians' aren't prepared to fight a lengthy legal battle against an experienced and unlimited-funds opponent (insert name of the insurance company) The insurance company's tables (statistics) that show them this is so. They'll 'run the numbers' and if , statistically, they see that paying your claim will (according to the statistical probabilities in the tables) cost them more than not paying..you will likely have a fight on your hands to get the "agreed value" you think you contracted for. An "Agreed Value" policy is just a little easier for the insurance company to wiggle out of..It doesn't bother the insurance company to deny your claim, because it's what they do if their "numbers" tell them their profits will be maximized by so doing...They may start with a silly "Low-Ball" offer..citing some 'violation' you made to the fine print on your policy...Too many miles, a faulty brake shoe, skid marks at the accident indicate you were speeding...whatever...It'll be an attempt to 'make money' for the company....Just business.

If you do decide to litigate and hire an attorney the attorney will often advise you that 'arbitration' will be more effective and timely than actually going into court...but 'Arbitrators' (who you must pay for) make their living repeatedly deciding cases 'for insurance companies' day in and day out...They are not likely to decide too heavily in YOUR favor..because the next time..they won't be 'agreed upon' by that insurance company (no "agreed-upon=no future work for the arbitrator)...If you do decide to fight it through to court, you may not see any settlement for a couple of years, if at all...so most people cave in...Which is exactly what the Insurance Company's statistical tables and computer programs tell them will happen...So...

I decided, after a few pretty large financial hits and many years of paying large premiums, that my insurance has been worth little. I looked and inquired into 'agreed-value'..'collector car' whatever it's called where you live..and found that I had no reason to believe it might be more worth while or more workable than normal insurance. I ran my "Numbers" and decided to pay only for the legally required minimum insurance. If I lose value following an accident..so be it...it has always been so in my past dealings with insurance so I guess I'll just save my premium payments and use them for attorneys again...

Don Hanson On Sun, Aug 2, 2009 at 7:37 PM, Roger Whittaker <rogerwhitt1@gmail.com>wrote:

> dear insurance > it matters a great deal where you are > in BC, Canada i have 35K$ declared value ... no survey required > this year i will be telling them my actual use has changed a great deal > since original policy written > so i imagine it will go up to about 1100$ a year premium ... > > in the states one can only imagine the myriad of different use policies > available ... > city use only ... > state use only ... > only travel one state outside of home state (this was a restriction in > Idaho > with a rental) > add infinity and beyond ... > > and my own opinion is ... > even if you are exceptionally wealthy ..insurance is a good idea for > vehicles > indeed any wealthy people i have known ..have considerable insurance on the > go all the time > > melissa ... get a good third party appraisal of your ride from someone who > is understanding of the real value of your bus > ask your insurer to recommend someone who they trust to do third party > surveys .. > indeed get two names and get them both to do a survey ... > yes you will spend a few hundred for the information ... > but in the end run you will have a real value if the worst happens to your > van... > yours > > > On Sun, Aug 2, 2009 at 2:55 PM, Melissa Mourkas <westywoman@mac.com> > wrote: > > > On Aug 2, 2009, at 9:41 AM, Al Knoll wrote: > > > >> So if it is a 'guzzler' get a > >> beater to drive for the most part and reserve your legendary Tardis > >> for > >> worthy ventures. > >> > > > > I am sure this has been covered ad nauseum, but since I just > > purchased an extremely clean 1984 Westfalia, I am worried about > > insurance value. I apologize in advance, I have been off-list for a > > year or two in air-head (1981) world. Thoughts about and experience > > with appraisals and/or "classic car" insurance appreciated. > > > > Melissa Mourkas > > 84 Westy "Honey Bee" > > > > > > -- > roger w > From Proverbs: > Under three things the earth trembles, under four it cannot bear up: a > servant who becomes king ... > ---------------------------------------------------------- > Explore printed work at: http://www.prliving.ca/ > View the growing list of video work at: > http://revver.com/find/video/?query=LastonLastof&search_on=owners > and ... older work at > http://video.google.com/videoplay?docid=-7135104650374818257 > http://video.google.com/videoplay?docid=3259745150182742364 >


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