[DeTomaso] Insurance Coverage Limits
Michael Shortt
michaelsavga at gmail.com
Wed Apr 29 19:12:01 EDT 2015
My annual premium is less than 1/2 of 1% of the value of my car, prudent
because I live in a state where 1 out of 7 motorists (according to the
police) are uninsured and 1/2 of the remaining cars have min. coverage with
25,000 limits.
I'd say that if $400 is gonna kill you, maybe you shouldn't own a Pantera.
Michael
On Apr 29, 2015 6:48 PM, "John Taphorn" <jtaphorn at kingwoodcable.com> wrote:
> I am a little surprised about the opinion that seems to be frequently
> vocalized about insuring your one's car to the market value. Insurance
> companies are happy to fully insure responsible drivers. Of course
> that is how they make money.
> I believe that I could have purchased a second Pantera with the
> premiums that I have paid over my 35 years of ownership. My point is
> that if you you have other assets, it is prudent to self insure part of
> the car. The risk to you is only on damages exceeding the valuation.
> Only insure risks that you can't afford.
> I get it if the car represents all your savings and you couldn't afford
> to replace in the unlikely event it was totaled. Otherwise, not so
> much.
> As a financial planner, I cringe every time I hear someone espouse it
> is financially wise to call their insurance agent because their car has
> gone up in value. If you got wealth, probably not the prudent path.
> JT
>
> On 4/29/2015 9:49 AM, Charles McCall wrote:
>
> Don't know, but my classic car insurance company in Spain made a
> similar request. I sent them ads to justify increasing the value on my
> policy. After a few, erm, debates they sent an appraiser to look at my
> car and I'm waiting for his report. In my case, I have more interest in
> being properly insured than they do, so I did some of the legwork to
> make sure it was right.
> A
> I'd be really happy if I could have a policy that says "if my car blows
> up, I just want another one in the same condition, not more, not less".
> I don't want to make money or lose money, just make sure that my
> investment is covered.
>
> On Wed, Apr 29, 2015 at 4:41 PM, Julian Kift
> [1]<[1]julian_kift at hotmail.com> wrote:
>
> A A Send them a link to the Hagerty valuation page, that is made up
> of a
> A A cross section of sales, or a copy of the relevant page from
> latest
> A A Glass's Classic car value guide.
> A A The question is why do you have to do the legwork and become
> their risk
> A A underwriter? They should be aware of the current market values,
> A A unless you are trying to convince them you have a 1:10 or so
> that is
> A A worth signiificantly more?
> A A Julian
> A A From: [[2]2]michaelsavga at gmail.com
> A A Date: Wed, 29 Apr 2015 10:23:11 -0400
> A A To: [[3]3]detomaso at poca.com
> A A Subject: [DeTomaso] Insurance Coverage Limits
> Greetings all,
> In light of the rapidly rising values of our cars, we need to
> establish a
> database of recent sales for comps to supply to carriers.
> My agency Barrett-Jackson ( AIG underwrites it ) is asking.
> If any or all of you can send links to recent sales at any location,
> private sale, auction, dealer.
> Please help,
> I'll share all the info.
> Michael Shortt
> --
> Michael L. Shortt
> Savannah, Georgia
> [4]www.michaelshortt.com
> [[4]5]michael at michaelshortt.com
> [6]912-232-9390
> This email is protected by the Electronic Communications Privacy
> Act, 18 U.S.C. Sec. 2510-2521, is confidential and may be legally
> privileged.A If you are not the intended recipient, you are hereby
> notified
> that any retention, dissemination, distribution or copying of this
> communication is strictly prohibited.A Please reply to the sender
> that you
> have received this message in error, then delete it.A Thank you
>
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> 2. [10]mailto:michaelsavga at gmail.com
> 3. [11]mailto:detomaso at poca.com
> 4. [12]http://www.michaelshortt.com/
> 5. [13]mailto:michael at michaelshortt.com
> 6. tel:912-232-9390
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> 3. mailto:3]detomaso at poca.com
> 4. mailto:5]michael at michaelshortt.com
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> 12. http://www.michaelshortt.com/
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-------------- next part --------------
My annual premium is less than 1/2 of 1% of the value of my car,
prudent because I live in a state where 1 out of 7 motorists (according
to the police) are uninsured and 1/2 of the remaining cars have min.
coverage with 25,000 limits.
I'd say that if $400 is gonna kill you, maybe you shouldn't own a
Pantera.
Michael
On Apr 29, 2015 6:48 PM, "John Taphorn" <[1]jtaphorn at kingwoodcable.com>
wrote:
A A I am a little surprised about the opinion that seems to be
frequently
A A vocalized about insuring your one's car to the market value.A
Insurance
A A companies are happy to fully insure responsible drivers.A Of
course
A A that is how they make money.
A A I believe that I could have purchased a second Pantera with the
A A premiums that I have paid over my 35 years of ownership.A My
point is
A A that if you you have other assets, it is prudent to self insure
part of
A A the car.A The risk to you is only on damages exceeding the
valuation.
A A Only insure risks that you can't afford.
A A I get it if the car represents all your savings and you
couldn't afford
A A to replace in the unlikely event it was totaled.A Otherwise,
not so
A A much.
A A As a financial planner, I cringe every time I hear someone
espouse it
A A is financially wise to call their insurance agent because their
car has
A A gone up in value.A If you got wealth, probably not the prudent
path.
A A JT
A A On 4/29/2015 9:49 AM, Charles McCall wrote:
A A Don't know, but my classic car insurance company in Spain made
a
A A similar request. I sent them ads to justify increasing the
value on my
A A policy. After a few, erm, debates they sent an appraiser to
look at my
A A car and I'm waiting for his report. In my case, I have more
interest in
A A being properly insured than they do, so I did some of the
legwork to
A A make sure it was right.
A A A
A A I'd be really happy if I could have a policy that says "if my
car blows
A A up, I just want another one in the same condition, not more,
not less".
A A I don't want to make money or lose money, just make sure that
my
A A investment is covered.
A A On Wed, Apr 29, 2015 at 4:41 PM, Julian Kift
A A [1]<[1][2]julian_kift at hotmail.com> wrote:
A A A AA A Send them a link to the Hagerty valuation page, that
is made up
A A A of a
A A A AA A cross section of sales, or a copy of the relevant page
from
A A A latest
A A A AA A Glass's Classic car value guide.
A A A AA A The question is why do you have to do the legwork and
become
A A A their risk
A A A AA A underwriter? They should be aware of the current
market values,
A A A AA A unless you are trying to convince them you have a 1:10
or so
A A A that is
A A A AA A worth signiificantly more?
A A A AA A Julian
A A A AA A From: [[2]2][3]michaelsavga at gmail.com
A A A AA A Date: Wed, 29 Apr 2015 10:23:11 -0400
A A A AA A To: [[3]3][4]detomaso at poca.com
A A A AA A Subject: [DeTomaso] Insurance Coverage Limits
A A A Greetings all,
A A A In light of the rapidly rising values of our cars, we need
to
A A A establish a
A A A database of recent sales for comps to supply to carriers.
A A A My agency Barrett-Jackson ( AIG underwrites it ) is asking.
A A A If any or all of you can send links to recent sales at any
location,
A A A private sale, auction, dealer.
A A A Please help,
A A A I'll share all the info.
A A A Michael Shortt
A A A --
A A A Michael L. Shortt
A A A Savannah, Georgia
A A A [4][5]www.michaelshortt.com
A A A [[4]5][6]michael at michaelshortt.com
A A A [6]912-232-9390
A A A This email is protected by the Electronic Communications
Privacy
A A A Act, 18 U.S.C. Sec. 2510-2521, is confidential and may be
legally
A A A privileged.AA If you are not the intended recipient, you
are hereby
A A A notified
A A A that any retention, dissemination, distribution or copying
of this
A A A communication is strictly prohibited.AA Please reply to the
sender
A A A that you
A A A have received this message in error, then delete it.AA
Thank you
A A AA A _______________________________________________ Detomaso
Forum
A A Managed
A A AA A by POCA Posted emails must not exceed 1.5 Megabytes
DeTomaso
A A mailing
A A AA A list [[5]7][7]DeTomaso at poca.com
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manage
A A your
A A AA A subscription (change email address, unsubscribe, etc.)
use the
A A links
A A AA A above.
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