Date: Wed, 16 Dec 2009 18:52:03 -0500
Reply-To: Dennis Haynes <d23haynes57@HOTMAIL.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: Dennis Haynes <d23haynes57@HOTMAIL.COM>
Subject: Re: insurance terminology
In-Reply-To: <6108534.2004.1261003207766.JavaMail.mcneely4@127.0.0.1>
Content-Type: text/plain; charset="utf-8"
As part of a normal liability insurance policy there is usually an option for "un/under insured" protection. There are state that require almost no or as little as $20,000 liability coverage. I think NY requires $25k/$50k. This is not much once medical and lost wages get involved. Liability can also be required for non collision events. If someone slips on your rented camping site, that is your problem.
Most stated or agreed value policies have restrictions. They are usually designed to collector vehicles that do not get used much, stay in garages, and go to shows via trailer. As a daily driver or worse a lived in vehicle you will find it difficult to get full coverage. Keep in mind that these policies really only work in theft or total fire situations. Almost anything can be fixed!!!
Dennis
-----Original Message-----
From: Vanagon Mailing List [mailto:vanagon@gerry.vanagon.com] On Behalf Of Dave Mcneely
Sent: Wednesday, December 16, 2009 5:40 PM
To: vanagon@GERRY.VANAGON.COM
Subject: Re: insurance terminology
The only insurance required here is liability. So, in NZ, if a drunk
destroys your vehicle and kills your wife with his car, and he has
neither liability insurance nor resources, where will you turn for
compensation? Just askin'............ .
Financial responsibility is a part of affording to own and operate a (or
eight) vehicle(s). Not moral preaching, just a societal necessity.
Dave Mc
On Wed, Dec 16, 2009 at 3:33 PM, Andrew Grebneff wrote:
>> Yeah, at $300 a month for insurance I would be paying out the total
>> cost
>> of my 1.8 inline 84 in just ten months! Fer gid it!
>
> This is what happens whan insurance is legally required. Pricejacking,
> which is probably illegal there (it is here) nevertheless happens...
> captive market, so no real need for insurance companies to compete.
>
> What about someone who owns EIGHT cars, as my wife and I do??
>
> In New Zealand insurance is NOT mandatory and I wouldn't have to pay
> that much for a YEAR's insurance. Third-party (liability) cover is
> recommended but not required. Please don't yap back about moral
> obligations etc... just see what you guys have to put up with and
> think again. Most people NEVER have a serious accident (which most
> certainly doesn't mean they are good or safe drivers!).
>
> Of course mandatory insurance will be introduced here eventually...
> which will be major a step (leap) in the wrong direction.
>
> --
> Regards
> Andrew Grebneff
> Dunedin
> New Zealand
> Fossil preparator
> Mollusc, Toyota & VW van fan
