[DeTomaso] Insurance

[MikeLDrew at aol.com]

In a message dated 7/24/11 22 36 6, MyCars at Comcast.net writes:


> Some time ago, I saw a discussion here on this forum about insurance.
> Something to do with "agreed upon value" or something like that. I plan
> to insure it with Grundy and want to know what I should be asking for.
> 
>>>That's exactly it.   "Agreed value" is just what it sounds like--you and 
they have a contract that stipulates that in the event of a total loss, 
they will pay you that agreed value.   A lot of collector car policies are 
'gotcha' policies that feature a 'stated value'.   That means, you say how much 
your car is worth to you, and they charge you based on that figure.   
However they are under NO obligation to actually pay you that amount in the event 
of a loss, and normally they pay quite a bit less.

Agreed value is a much more straight-up and gentlemanly agreement, and is 
the only way to go.
> 
> >Anyhow, I've got my car back together after 3 years of taking it apart
> and fiddling with a lot more than I should of. Tomorrow hopefully it
> will just start, with perfect timing and ready to race ... or so I've
> been dreaming!
> 
>>>Best of luck to you, and let us know how it works out!

Mike