Date: Fri, 23 Jun 2017 16:29:51 -0700
Reply-To: David McNeely <davmcneely40@GMAIL.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: David McNeely <davmcneely40@GMAIL.COM>
Subject: Re: Car Insurance Renewal Time!
In-Reply-To: <00ad01d2ec6c$b618afe0$224a0fa0$@gmail.com>
Content-Type: text/plain; charset="UTF-8"
With "stated value" insurance, you really are no better off than with a
regular policy. If you can prove that the vehicle is worth the stated
value after the fact, then you can get properly reimbursed. The same is
true with a regular policy. An insurance agent admitted to me that there
is really no benefit to a stated value policy over a regular policy. When
the accident happens, they will pay you the cost to repair up to the "book
value" of the vehicle, unless you can prove it is worth more. If the cost
to repair equals or exceeds the "book value" they will declare the vehicle
a total loss, and pay the book value. Getting beyond that is only with a
negotiation that includes an appraisal. You will be charged more for the
stated value policy, however.
I'm not looking for help, just pointing out facts that I got from several
different insurers.
mcneely
On Fri, Jun 23, 2017 at 3:04 PM, Stuart MacMillan <stuartmacm@gmail.com>
wrote:
> I have "stated value" with Travelers. This simply means I'm paying a rate
> based on my stated value of $15,000, which I would need to back up with
> proof, such as listings or an appraisal. I may increase that based on the
> listings I'm seeing now, and get an appraisal when my conversion is done.
> It doesn’t add much to the cost of the policy.
>
> "Agreed value" is for show cars, and very expensive. Not for daily
> drivers. Classic car insurance companies will not insure campers, and
> would have limited mileage for a tin-top passenger vehicle as well as other
> restrictions, such as garage storage.
>
> I use a great insurance broker licensed in WA, OR, and CA that can
> probably help you. P-mail me if interested.
>
> Stuart
>
> -----Original Message-----
> From: Vanagon Mailing List [mailto:vanagon@gerry.vanagon.com] On Behalf
> Of PB
> Sent: Friday, June 23, 2017 10:57 AM
> To: vanagon@GERRY.VANAGON.COM
> Subject: Car Insurance Renewal Time!
>
> I've had a 12-month auto insurance policy with Wawanesa for the past 15
> years. Despite fairly poor service, I kept them because I haven't had any
> tickets or at-fault accidents and their price was the lowest I could find.
> Today I learned that my 12-month auto insurance policy would be changed to
> a 6-month policy with the yearly cost raised by $700 regardless of my clean
> record and low mileage! I'm retired and all my driving is for pleasure.
>
>
> I just got an estimate from AAA. They have additional discounts that
> Wawanesa doesn't have, a reputation for great service, their policy is 12
> months and much lower than my Wawanesa quote! I also asked them how they
> would value my Westy if it were a total loss, and they explained that they
> go by the actual value, rather than just using the Blue Book.
>
> My policy renews July 18. Can I please have some recommendations,
> comments, and pointers about insurance companies. I'll probably get an
> estimate from Progressive. I believe they consider a Westy as an RV, but
> don't know if that's an advantage above AAA.
>
> Patti
> 90 Westy Automatic
> Los Angeles
>
> --
>
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