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Author Topic:   Check your insurance
qwik1320
Veteran Member
posted August 09, 2003 11:01 PM     Click Here to See the Profile for qwik1320   Click Here to Email qwik1320     Edit/Delete Message   Reply w/Quote      
Hey guys - make sure your auto insurance covers all the work you did/are doing to your car.

On July 19th I was rear ended in my 73 Camaro and pushed into another car. To make a long story short, my insurance on the car doesn't even begin to cover what I have in it. If you're interested I have pictures at hometown.aol.com/qwik1320...oPage.html

Once I get the 73 fixed I need to get the proper Classic/Custom Car insurance. Also I was told that I can't get insurance on my 67 since it's "in pieces" and the car needs to be 90-95% complete before it can be insured. I guess I've been paying since 1999 for nothing. I also learned that my homeowners insurance doesn't cover my car(s), parts or equipment in the garage. If the house burns down I'm SOL, but my lawn mower would be covered...

Maybe I'm a dumbass and everyone already knows this but I thought I'd mention it here because we all have a lot of $$$ tied up in our cars and God forbid something happens. I'm guilty of taking the insurance for granted, paying my yearly premium and being "to busy" with work, kids, etc. to really take the time to understand what I had. Hopefully you all aren't in the same situation.

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MadMike
Administrator
posted August 09, 2003 11:29 PM     Click Here to See the Profile for MadMike   Click Here to Email MadMike     Edit/Delete Message   Reply w/Quote   Visit MadMike's Homepage!   View MadMike's car!
Problem I see is: You were rear ended.

Why are you calling your insurance company. Unless the guy who hit you was uninsured?

The guy who hit you will fix your car. And yes, they'll initially bitch about it being a POS 1973 car with a book value of $250. Until you help them realize just what their client smashed into and damaged.

And you may call your insurance company, and they'll fix whatever it is you bumped into... assuming the initial hitter doesn't cover them too.

you shouldn't need to file a claim for anything.

I carry comprehensive on my 2 Z's that are garaged. I had asked my insurance company what would happen if my house burnt down and destroyed my cars. They said homeowners doesn't cover squat - only car insurance covers cars. And that required comprehensive. So I added both my Z's to my auto policy (for an additional $3). I'd insure your 67 (comprehensive, with suspended liability)... as far as your concerned it's ~90 "complete". (some assembly required of course).

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qwik1320
Veteran Member
posted August 09, 2003 11:42 PM     Click Here to See the Profile for qwik1320   Click Here to Email qwik1320     Edit/Delete Message   Reply w/Quote      
Mike,
You're right. His insurance is "covering" it since he hit me, the question is how much. The appraiser is using a Year One catalog for the body parts. I didn't have the collision/comp. insurance on the car that I thought I did - my f'up. I thought I'd post this as an FYI for everyone just to take a look at their coverage. Thanks for the great site, I've been checking it out for years.

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rchydzik
Veteran Member
posted August 10, 2003 12:08 AM     Click Here to See the Profile for rchydzik   Click Here to Email rchydzik     Edit/Delete Message   Reply w/Quote   Visit rchydzik's Homepage!   View rchydzik's car!
quik1320,

I still don't understand. You shouldn't have to pay anything to fix your car. The other person's insurance company will probably do a market survey to determine the actual value of the car, and they should pay up to that value. If you feel that they are not correct in their assessment of the market value, you should be able to challenge it. I went through this with my car, and all turned out ok.

------------------
Rich Hydzik
76 LT
02 Z28
http://richhydzik.home.attbi.com

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archemedes
Veteran Member
posted August 10, 2003 12:12 AM     Click Here to See the Profile for archemedes   Click Here to Email archemedes     Edit/Delete Message   Reply w/Quote   Visit archemedes's Homepage!   View archemedes's car!
I see you live in wonderfull staes, without no fault insurance, I get hit my insurance pays, even if my car is parked, it is always a good idea to talk to your agent when adding anything to your car even a brand new car

------------------
Yahoo messenger ID archemedes74 feel free to add me
Give blood play hockey!

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qwik1320
Veteran Member
posted August 10, 2003 12:20 AM     Click Here to See the Profile for qwik1320   Click Here to Email qwik1320     Edit/Delete Message   Reply w/Quote      
Rich,
Thanks for the good news. I'm in the appraiser/body shop estimation loop now. I hope everything works out all right as all I want is the car back to the condition that it was the second before I was hit. Hopefully things will work out like yours. Honestly you're the first person that I "spoke" to that said everything worked out for them. Everyone has been telling me their horror stories.
Todd

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Woody71RS
Veteran Member
posted August 10, 2003 06:59 PM     Click Here to See the Profile for Woody71RS   Click Here to Email Woody71RS     Edit/Delete Message   Reply w/Quote      View Woody71RS's car!
I just called about insuring my 68, Allstate goes through a classic car company that they actually own. My rate is going to be $200 a year for $30,000 replacement cost and full coverage for everything else including hit skip, uninsured etc. Just a thought...

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Kirk
Veteran Member
posted August 10, 2003 07:16 PM     Click Here to See the Profile for Kirk   Click Here to Email Kirk     Edit/Delete Message   Reply w/Quote   Visit Kirk's Homepage!   View Kirk's car!
A reminder to all - get your vehicles appraised! Just cause it's insured doesn't mean you'll get anyway near what it's worth UNLESS you have a relatively current appraisal and a valued rider on your policy.

FYI - insurance companies use two ways to limit payout on appraised vehicles in a total loss situation. Up here in Ontario they're generally referred to as form 19 or 19A. They are very different.

The 19 gives you coverage up to to limit of the value of your appraisal, or the current value, whichever is the LESSOR of the two. So if your appraisal is 3 years old, and the value of your car has dropped in the interim, you get the lower value.

The 19A gives you whatever your appraised value is. Doesn't matter if the value has dropped since your last appraisal.

To my knowledge, there is no way to insure your vehicle to account for appreciation of value. All you can do is keep close tabs on the market value and get re-appraised if necessary.

Hopes this helps.

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1981CAMAROZ28
Veteran Member
posted August 18, 2003 10:54 AM     Click Here to See the Profile for 1981CAMAROZ28   Click Here to Email 1981CAMAROZ28     Edit/Delete Message   Reply w/Quote   Visit 1981CAMAROZ28's Homepage!   View 1981CAMAROZ28's car!
I went through Hagerty which only insures collectible non-daily drivers. The rates are pretty cheap and in the event of a total loss you receive you're agreed upon value (whatever you submit with your application as long as Hagerty accepts it). It covers loss by collision, fire, theft, etc. Their policies also come with a road side assistance which guarantees a flat bed tow truck if you need a tow.

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speedyrev
Veteran Member
posted August 20, 2003 06:42 PM     Click Here to See the Profile for speedyrev   Click Here to Email speedyrev     Edit/Delete Message   Reply w/Quote   Visit speedyrev's Homepage!   View speedyrev's car!
State Farm took my appraisal and told me to update it as often as I felt necessary. Without an appraisal you're hosed!

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speedyrev
Veteran Member
posted August 20, 2003 09:30 PM     Click Here to See the Profile for speedyrev   Click Here to Email speedyrev     Edit/Delete Message   Reply w/Quote   Visit speedyrev's Homepage!   View speedyrev's car!
I have a daily driver. State Farm wrote me a policy based on an appraisal. Good tip on keeping it up to date though!

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SoCal71RS
Veteran Member
posted August 21, 2003 12:54 AM     Click Here to See the Profile for SoCal71RS   Click Here to Email SoCal71RS     Edit/Delete Message   Reply w/Quote   Visit SoCal71RS's Homepage!   View SoCal71RS's car!
Stupid question here. But do you just look up car appraisers in the phone book or ask your insurance agent?
When I ask my Allstate agent what I would get for my car if it was totalled they will only tell me that at that time they would give me "actual cash value".
When I totaled my 86 Z28, that was beautiful, they only gave me $2600. Those bastards!
Anyway, my 71 is now my daily driver and I'm constantly worried about getting hosed on this car if something were to happen.

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MJwrabbit
Veteran Member
posted August 21, 2003 07:27 AM     Click Here to See the Profile for MJwrabbit   Click Here to Email MJwrabbit     Edit/Delete Message   Reply w/Quote   Visit MJwrabbit's Homepage!   View MJwrabbit's car!
Todd, The same EXACT thing happened to me with my first Camaro. I was young and didn't know better. I let the insurance co push me around. According to them it was totalled. I ended up selling the car. (BIG mistake) The only thing I ended up coming out of it with was experience. My advice to everyone is get your car appraised and fight for what's yours.

------------------
Michelle
1971 Sport Coupe, matching numbers, 51,000 original miles.
http://www.cardomain.com/id/mjwrabbit

[This message has been edited by MJwrabbit (edited August 21, 2003).]

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speedyrev
Veteran Member
posted August 21, 2003 12:10 PM     Click Here to See the Profile for speedyrev   Click Here to Email speedyrev     Edit/Delete Message   Reply w/Quote   Visit speedyrev's Homepage!   View speedyrev's car!
Car Dealers and Body Shops have appraisers that should give you what you need.

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Kirk
Veteran Member
posted August 21, 2003 02:14 PM     Click Here to See the Profile for Kirk   Click Here to Email Kirk     Edit/Delete Message   Reply w/Quote   Visit Kirk's Homepage!   View Kirk's car!
Regarding appraisers - ask your insurer who is acceptable to them. Often times the appraiser must have some recognized certification, or else the appraisal isn't worth the paper it's printed on. Your average body shop "appraiser" usually isn't acceptable.

Again, ask your insurer. If they're any good, they'll have a list of acceptable appraisers in your area (or at least be able to tell you what certification is required).

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