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Date:         Sat, 25 Nov 2017 17:39:08 -0800
Reply-To:     David McNeely <davmcneely40@GMAIL.COM>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         David McNeely <davmcneely40@GMAIL.COM>
Subject:      Re: insurance
Comments: To: David Boan <dboan@outlook.com>
In-Reply-To:  <CY1PR12MB0181C86E2DB86FA6F6CED1CFBA270@CY1PR12MB0181.namprd12.prod.outlook.com>
Content-Type: text/plain; charset="UTF-8"

"in the event of a total loss, the policy will pay actual cash value or the rating base, whichever is less".

"Actual cash value," is usually interpreted by insurance appraisers to mean the average retail sale in your location, as reported by the NADA. In other words, what is sometimes called "book value." Expect a fight if you have a total loss. Expect a fight if you have a loss that you don't consider total. The insurance company almost certainly will consider it a total loss if the cost to repair exceeds that "actual cash value" as determined by consulting the NADA "book value." BTDT, and had multiple acquaintances also BTDT. What an insurance agent told you at the time you bought the policy is irrelevant. What is explicitly stated in your policy is.

GoWesty has a program to assist you in obtaining true value as opposed to "book value" in any insurance settlement, but you'll have to turn over the carcass to GoWesty as I understand it, assuming you can get possession from the insurance company (which technically has bought the vehicle from you when it pays you for the totalled beast.

Don't ever believe you are going to win when dealing with an insurance company.

On Sat, Nov 25, 2017 at 7:06 AM, David Boan <dboan@outlook.com> wrote:

> So, clarification on the new insurance policy. The $30k is not an agreed > value, it is a rating base, which I understand is the maximum reimbursement > in the event of a total loss. That value will have to be verified through > receipts, appraisals and other means in the event of a claim for total > loss. The policy says "in the event of a total loss, the policy will pay > actual cash value or the rating base, whichever is less". There are no > limitations on use. That seems to be the best compromise since I am not > interested in treating the Westy like a classic vehicle that can only be > driven a few thousand miles a year, assuming I could even get that type of > coverage. > ------------------------------ > *From:* David Boan <dboan@outlook.com> > *Sent:* Tuesday, November 21, 2017 1:24:48 PM > *To:* David McNeely > *Cc:* vanagon@GERRY.VANAGON.COM > *Subject:* Re: insurance > > Good question, and I will make sure I understand correctly. the quote > says up to 180 days and no mention of mileage. > > Get Outlook for Android <https://aka.ms/ghei36> > > ------------------------------ > *From:* David McNeely <davmcneely40@gmail.com> > *Sent:* Tuesday, November 21, 2017 11:15:39 AM > *To:* David Boan > *Cc:* vanagon@GERRY.VANAGON.COM > *Subject:* Re: insurance > > David, are you allowed to use the vehicle freely as you choose? I know > you said that a part of the consideration on Progressive's part was that > the vehicle is "used sparingly." Whenever I have tried to obtain an > "agreed value" policy, it has always come with a restricted driving clause > that I cannot accept, even though my van is also "used sparingly." For > example, restricted to paved roads, in some cases restricted to being > driven for club or show activities. Of course, I do not participate in > such activities, and I do use my vehicle for camping. Further, I might > (and occasionally do) want to run to the store in the van, perhaps pick up > items I can't fit in my Prius. But I drive it generally less than 6K miles > a year. > > On Tue, Nov 21, 2017 at 9:31 AM, David Boan <dboan@outlook.com> wrote: > > Here is an update on the insurance on my '85 Westy ... As far as > customizations, it was mainly a rebuilt engine and transaxle plus 16" > wheels and oil cooler with a few other comparatively minor additions > (second battery, built in battery conditioner, etc). I think the adjustor > over reacted as these make the vehicle safer./more reliable and reduce > risk, IMHO. > > > So, Progressive (via AAA) issued me a policy with an agreed value of $30k, > subject to verification with an appraisal. The $30k was my own estimate > based on a possibly optimistic opinion of what the vehicle might bring. I > can submit an appraisal now, or wait to see if there is an event that > results in the vehicle being totaled and then put together support for the > value. If I do not submit an appraisal they will do their own estimate, > not based on bluebook, which may or may not support that value. > > > I think one thing that helped is that I am the original owner and the > vehicle is always garaged and used sparingly. > > > David B. > > Boise > > ________________________________ > From: Dennis Haynes <d23haynes57@hotmail.com> > Sent: Friday, November 10, 2017 1:26:14 AM > To: David Boan; vanagon@GERRY.VANAGON.COM > Subject: RE: insurance > > What customizations were you trying to get increased coverage for? While > an agent or customer service rep may have offered the coverage change you > may have gotten the attention as it went through the under writing process. > If the issue was just the collision or comprehensive overage they could > have just declined those coverages. For them to drop you indicates they do > not want to take the liability risk. > > Dennis > > > -----Original Message----- > From: Vanagon Mailing List [mailto:vanagon@gerry.vanagon.com] On Behalf > Of David Boan > Sent: Thursday, November 9, 2017 5:56 AM > To: vanagon@GERRY.VANAGON.COM > Subject: insurance > > A month ago I decided I should update my insurance carrier, Geico, about > the customizations on my 85 westy. They agreed to increase the estimated > value for a few additional dollars. Then I got a letter that they no > longer considered my Westy insurable and are dropping coverage effective > the end of the month, no further explanation given. I am now searching > for other carriers. Just curious if anyone else has experienced this. Any > suggestions for a new carrier are appreciated. > > David B > Boise > > Get Outlook for Android<https://eur01.safelink > s.protection.outlook.com/?url=https%3A%2F%2Faka.ms%2Fghei36& > data=02%7C01%7Cdick_adams30%40HOTMAIL.COM%7C0677aa7e60b34f > c77e8d08d527607171%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1% > 7C0%7C636458217574292938&sdata=RjHy4PnsVR%2BsX8F2Ir9ZYt > CZNjzGeMhusF%2BgvuWxyME%3D&reserved=0> > > >


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