[DeTomaso] BJ Insurance Experience

Wed Jan 27 18:58:04 EST 2010

Well based on your experience and the fact my insurance policy is due for renewal Feb 1st I gave BJ's endorsed insurer a chance to quote.....

They came back with a quote almost half my current insurer (American Collectors) and in addition the mandatory $1K deductible on the 'kit' cars that American had has been reduced to zero, plus I incresed the agreed values by a combined total of $30K as American also imposed a limit on certain cars which didn't cover the full replacement value of the Ultima.

Interestingly the BJ insuranc is split into two policies a iability portion and a classic collection physical damage.

Gonna read the fine print and likely sign on the dotted line......

Julian

> From: michaelsavga at gmail.com
> Date: Sat, 23 Jan 2010 20:30:56 -0500
> To: detomaso at realbig.com
> Subject: [DeTomaso] BJ Insurance Experience
> 
> I referred to this in an earlier email today, so here's the whole story.
> 
> Early last year I received a flyer from Barrett-Jackson that they were going
> to start insuring (through a partnerships with others) Classic Cars.
> Since my Hagerty Insurance would be expiring in a couple of months I thought
> I would give them an opportunity to provide a quote.
> They were super polite, eager to have my business and seemed overtly excited
> about cars and the people who drive them, a very different experience than I
> was accustomed, even with Hagerty personnel.
> 
> Their quote was approximately $300.00 per year LESS for my small collection
> of 4 "Special Interest" cars, the Pantera, the MB 450SL, The 944 and the
> 1970 Mustang Mach 1.Then I asked if they also wrote insurance on regular
> cars, the answer was again YES, I asked them to quote the Magnum RT, the
> Excursion and my wife's CRV, they saved me another $300.00 per year over
> AllState. Then I asked if they could also provide Motorcycle Insurance,
> they said yes! I was with Progressive Insurance, The BJ quote was 50.00 a
> year cheaper PLUS I now had agreed upon value, since the bike cost $12,995
> new and I added a bunch of stuff to it ( about 4K total ), I selected
> $13,199 in agreed upon value coverage given that the bike was already 5
> years old, Generous to be sure, but it only had only 2,700 miles on it).
> Then I asked if they wrote Business insurance and darn if the answer wasn't
> YES again, in fact, their insurance referral person worked with me for over
> a week to ensure that I got everything I wanted for a very specialized type
> of business, it includes $2,000,000 liability, water, fire, theft, E & O,
> vandalism and $250,000 in contents plus $2,000,000 inland marine ( for a
> production company ) for general insurance, equipment rentals, projects in
> production and location coverage. All combined was over $2,000 per year
> cheaper than what I had been paying. Still not finished, our house
> insurance was coming up for renewal, AllState again, and I gave BJ an
> opportunity to quote it as well. They came back with a quote with more
> coverage, including riders for guns, jewelry and cameras and were still over
> $2,000 per year cheaper. The only thing they wouldn't insure was my wife's
> fancy sewing machine/computer ( Bernina ) because they said they didn't have
> any history with a $15,000 sewing machine on which to base their quote.
> 
> To say that I am believer in BJ's new insurance program would be an
> vast understatement, within 6 months they had all of our insurance coverage
> except for life and health,. All combined as a result of switching to BJ, I
> am saving over $4,500 a year.
> 
> Doubters out there, keep reading. All well and good since the money was
> going one way so far. Then came October 3rd.
> 
> Some of you may remember that I reported a motorcycle mishap in TN, the VTX
> was damaged and my ankle broken.
> I called BJ the next day from TN, they asked if I was OK first. Sweet!
> Then we talked about the bike, I explained what happened and they said to
> get a quote for repairs, so I took the bike to a local Honda dealer
> in TN while I was there to get a repair quote.
> 
> I had no idea my ankle was broken, I just knew that it hurt. I make the
> drive back to Georgia with the VTX on a trailer
> (same way it got there) and parked it in my garage. BJ called again after I
> sent the quote and photos to them and informed
> me that they needed to send an adjuster to see the bike in person since the
> repair quote was over $5,800.
> No problem, he was coming in 2 days, he came, he inspected, he took photos
> and was very, very nice.
> 
> Meanwhile, my ankle had now turned black and blue I finally went to the Dr.
> 6 days later, had it X-rayed and to my surprise
> my tibia was in 2 pieces! I was awarded both the "Ironman" award for
> walking, riding and driving 14 hours using my broken ankle as the gas foot
> and the "Moron" award for the same feats ( no pun intended).
> 
> Two days later, BJ called me back and let me know two things, one that my
> Dr. office called and I had 10,000 in medical coverage for my ankle expenses
> and 2) that they were going to total my VTX since the book value was
> now only 6,000.
> If this had been Progressive several months earlier, I would have had a
> $1,500 deductible and received approximately $4,500 and had to give up the
> remains of my bike. Not much I could have done with that to replace my
> bike.
> 
> But this was BJ Insurance, I was told that I would be getting the agreed
> upon settlement amount of $13,199
> 
> My mouth fell open.
> 
> I have never totaled anything in my life, my deductible was ZERO.
> 
> I asked how much it would cost for me to buy back the remains of my bike,
> they called back in two hours and told me $1,000.
> 
> I said, yes to that and then the paperwork started to flow. All I had to do
> was mail them my license plate and title and I would be paid in a few days.
> 
> It took 9 weeks to settle the claim, 8 weeks of that was my fault and I'll
> explain why.
> 
> 1) I couldn't find the title ( stupid )
> 
> 2) The lovely state of Georgia said that I could order a new title and it
> could be there in 3-4 weeks......oh no, wait.
> 
> Nope sorry, we can't do that either because we show that the bike has a lien
> against it from American Honda Finance.
> 
> I said that the bike was paid for in full 6 months after I bought it
> and they said that before I could get a new title, I needed a letter from
> American Honda showing payment in full - no faxes and no emails on AHFC
> letterhead and stamped by a notary.
> 
> So I called them and 2 1/2 weeks later, the letter shows up and was sent to
> the good folks at the State of Georgia
> and 5 weeks after that I got a new title. That was mailed to BJ with the
> license plate.
> 
> one week after that I got a check for $12,199.
> 
> Meanwhile, I fixed the old bike myself for about $2,700 in parts (eBay and
> my brother who can get Honda parts at dealer cost) and $700.00
> for repainting the tank and fenders.
> 
> The bike was set up with a sissy bar, saddlebags, etc. so that my wife could
> ride with me, so the balance of the settlement payment went to
> buy a new (year old model) VTX1800Neo (probably the last one in the country
> since the VTX1800Neo was discontinued in 2008 that I found one on eBay from
> a dealer who liquidates Honda's warehouse / closed out models) which is set
> up as a single seater.
> 
> So as a result of the accident, very unplanned, I now have 2 bikes ( family
> style and solo style ) instead of 1, a healed ankle and a heck of a story to
> prove that BJ insurance rocks!
> 
> And yes after the old bike was DMV inspected and given a new title
> and plates, BJ accepted and insured it again.
> I changed the stated value on it to $10,000, because now it's 7 years old
> (even though it looks better than ever).
> 
> My wife accused me of insurance fraud because she couldn't believe that it
> all worked out the way that it did, esp. because now there are 2 bikes in
> the garage instead of 1, and I'm smiling like the Cheshire Cat ( except when
> it rains, then the ankle still hurts a bit).
> 
> To answer the question asked earlier, if my car had been consigned to R & S
> and been crushed under the collapsed tent this week,
> I would have been paid $65,000 (my stated value coverage), less whatever the
> buy back price would be if I wanted to get it back.
> 
> 
> If I had bought a car at auction, it will be automatically insured for 14
> days at the purchase price level until such time that
> I request a different value and agreed to the quoted premium. So, if the
> tent had fallen on my new purchase, I would not have suffered any financial
> loss at all.
> 
> Michael Shortt
> Savannah, Georgia
> 
> two more things,
> 
> First, I highly recommend BJ Insurance, I would encourage all of you to let
> them quote your toys and more. My new prem notice arrived last week and
> it did NOT go up at all as a result of the reported loss, only by the amount
> of the 2nd motorcycle that was added to the policy.
> 
> Secondly, please know where your titles are located and make sure that if
> you ever finance a car or bike that you not only notify the state DMV and
> send a copy of the release, you should just go ahead and get a new title
> issued that doesn't show any liens at all to avoid confusion in the
> future. The title that you are sent by the lien holder after a pay off with
> the cool little PAID or RELEASED stamped on it is NOT recorded with the
> state DMV.
> 
> After this whole learning experience, I took all of my car and bike titles
> back to the DMV office and paid $8.00 each to have new titles issued showing
> no history of previous owners, liens, banks, etc. Just in case...
> 
> This is my BJ contact, she's amazing, sweet, thoughtful, very professional
> and even called to check on my ankle recovery several times. Has your Car
> Insurance agent EVER done that in your whole life?
> 
> Amy Spengler
> ASpengler at delpcompany.com
> Barrett-Jackson Collector Car Ins.-Servicing Agent
> The Delp Company
> 1440 Arrowhead Drive
> Maumee, OH 43537
> 419-794-1080
> 877-545-2522
> 
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> -- 
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> 
> Michael L. Shortt
> Savannah, Georgia
> www.michaelshortt.com
> michael at michaelshortt.com
> 912-232-9390
> 
> 
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