[DeTomaso] Insurance Coverage Limits
Will Kooiman
will.kooiman at gmail.com
Wed Apr 29 23:18:15 EDT 2015
Most of the financial planners I¹ve known were very professional. I¹ve
met the insurance salesman types too, but I¹ve met far more that were
professional.
On 4/29/15, 9:17 PM, "Boyd Casey" <boyd411 at gmail.com> wrote:
> Most" financial planners" I know aren't really financial planners but
> insurance salesmen. They specialize in annuities ( which are a form of
> insurance) and life insurance. So it's A funny for me to hear an
> "insurance planner" advise against covering an asset that has increased
> in value.Maybe it's because it's coverage that they don't sell! In most
> of the cases I have heard discussed we are not talking about chump
> change . Most of these people haven't increased their coverage in
> years. So $40k's worth of coverage with a current value between A $65K
> and $85 K is not what I would consider a prudent amount of uninsured
> risk. After 25 years in the car business I can say the biggest mistake
> people make is getting talked into disability A or life insurance on a
> new auto purchase. It is much smarter to increase the value of your
> whole life policy to compensate for the added liability of a new car
> purchase. Insuring a collectible for it's full value A (or close to it)
> is good planning ( whether it's a collectible car or a piece of art
> work).Just make sure it's a guaranteed value policy. With $95K of
> coverage for $600 and change it's a great value.
> Boyd
>
> On Wed, Apr 29, 2015 at 7:12 PM, Michael Shortt
> <[1]michaelsavga at gmail.com> wrote:
>
> A A My annual premium is less than 1/2 of 1% of the value of my
> car,
> A A prudent because I live in a state where 1 out of 7 motorists
> (according
> A A to the police) are uninsured and 1/2 of the remaining cars have
> min.
> A A coverage with 25,000 limits.
> A A I'd say that if $400 is gonna kill you, maybe you shouldn't own
> a
> A A Pantera.
> A A Michael
> A A On Apr 29, 2015 6:48 PM, "John Taphorn"
> <[1][2]jtaphorn at kingwoodcable.com>
> A A wrote:
> A A A AA A I am a little surprised about the opinion that seems
> to be
> A A A frequently
> A A A AA A vocalized about insuring your one's car to the market
> value.A
> A A A Insurance
> A A A AA A companies are happy to fully insure responsible
> drivers.AA Of
> A A A course
> A A A AA A that is how they make money.
> A A A AA A I believe that I could have purchased a second Pantera
> with the
> A A A AA A premiums that I have paid over my 35 years of
> ownership.AA My
> A A A point is
> A A A AA A that if you you have other assets, it is prudent to
> self insure
> A A A part of
> A A A AA A the car.AA The risk to you is only on damages
> exceeding the
> A A A valuation.
> A A A AA A Only insure risks that you can't afford.
> A A A AA A I get it if the car represents all your savings and
> you
> A A A couldn't afford
> A A A AA A to replace in the unlikely event it was totaled.AA
> Otherwise,
> A A A not so
> A A A AA A much.
> A A A AA A As a financial planner, I cringe every time I hear
> someone
> A A A espouse it
> A A A AA A is financially wise to call their insurance agent
> because their
> A A A car has
> A A A AA A gone up in value.AA If you got wealth, probably not
> the prudent
> A A A path.
> A A A AA A JT
> A A A AA A On 4/29/2015 9:49 AM, Charles McCall wrote:
> A A A AA A Don't know, but my classic car insurance company in
> Spain made
> A A A a
> A A A AA A similar request. I sent them ads to justify increasing
> the
> A A A value on my
> A A A AA A policy. After a few, erm, debates they sent an
> appraiser to
> A A A look at my
> A A A AA A car and I'm waiting for his report. In my case, I have
> more
> A A A interest in
> A A A AA A being properly insured than they do, so I did some of
> the
> A A A legwork to
> A A A AA A make sure it was right.
> A A A AA A A
> A A A AA A I'd be really happy if I could have a policy that says
> "if my
> A A A car blows
> A A A AA A up, I just want another one in the same condition, not
> more,
> A A A not less".
> A A A AA A I don't want to make money or lose money, just make
> sure that
> A A A my
> A A A AA A investment is covered.
> A A A AA A On Wed, Apr 29, 2015 at 4:41 PM, Julian Kift
> A A A AA A [1]<[1][2][3]julian_kift at hotmail.com> wrote:
> A A A AA AA A AAA A Send them a link to the Hagerty valuation
> page, that
> A A A is made up
> A A A AA AA A of a
> A A A AA AA A AAA A cross section of sales, or a copy of the
> relevant page
> A A A from
> A A A AA AA A latest
> A A A AA AA A AAA A Glass's Classic car value guide.
> A A A AA AA A AAA A The question is why do you have to do the
> legwork and
> A A A become
> A A A AA AA A their risk
> A A A AA AA A AAA A underwriter? They should be aware of the
> current
> A A A market values,
> A A A AA AA A AAA A unless you are trying to convince them you
> have a 1:10
> A A A or so
> A A A AA AA A that is
> A A A AA AA A AAA A worth signiificantly more?
> A A A AA AA A AAA A Julian
> A A A AA AA A AAA A From: [[2]2][3][4]michaelsavga at gmail.com
> A A A AA AA A AAA A Date: Wed, 29 Apr 2015 10:23:11 -0400
> A A A AA AA A AAA A To: [[3]3][4][5]detomaso at poca.com
> A A A AA AA A AAA A Subject: [DeTomaso] Insurance Coverage
> Limits
> A A A AA AA A Greetings all,
> A A A AA AA A In light of the rapidly rising values of our cars,
> we need
> A A A to
> A A A AA AA A establish a
> A A A AA AA A database of recent sales for comps to supply to
> carriers.
> A A A AA AA A My agency Barrett-Jackson ( AIG underwrites it )
> is asking.
> A A A AA AA A If any or all of you can send links to recent
> sales at any
> A A A location,
> A A A AA AA A private sale, auction, dealer.
> A A A AA AA A Please help,
> A A A AA AA A I'll share all the info.
> A A A AA AA A Michael Shortt
> A A A AA AA A --
> A A A AA AA A Michael L. Shortt
> A A A AA AA A Savannah, Georgia
> A A A AA AA A [4][5][6]www.michaelshortt.com
> A A A AA AA A [[4]5][6][7]michael at michaelshortt.com
> A A A AA AA A [6]912-232-9390
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> A A A AA 12. [39][34]http://www.michaelshortt.com/
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> A 11. mailto:[54]julian_kift at hotmail.com
> A 12. mailto:[55]michaelsavga at gmail.com
> A 13. mailto:[56]detomaso at poca.com
> A 14. [57]http://www.michaelshortt.com/
> A 15. mailto:[58]michael at michaelshortt.com
> A 16. tel:[59]912-232-9390
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> A 29. mailto:[72]michael at michaelshortt.com
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> A 39. [82]http://www.michaelshortt.com/
> A 40. mailto:[83]michael at michaelshortt.com
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> 1. mailto:michaelsavga at gmail.com
> 2. mailto:jtaphorn at kingwoodcable.com
> 3. mailto:julian_kift at hotmail.com
> 4. mailto:michaelsavga at gmail.com
> 5. mailto:detomaso at poca.com
> 6. http://www.michaelshortt.com/
> 7. mailto:michael at michaelshortt.com
> 8. mailto:DeTomaso at poca.com
> 9. http://poca.com/mailman/listinfo/detomaso_poca.com
> 10. mailto:DeTomaso at poca.com
> 11. http://poca.com/mailman/listinfo/detomaso_poca.com
> 12. mailto:julian_kift at hotmail.com
> 13. mailto:michaelsavga at gmail.com
> 14. mailto:detomaso at poca.com
> 15. http://www.michaelshortt.com/
> 16. mailto:michael at michaelshortt.com
> 17. mailto:DeTomaso at poca.com
> 18. http://poca.com/mailman/listinfo/detomaso_poca.com
> 19. mailto:DeTomaso at poca.com
> 20. http://poca.com/mailman/listinfo/detomaso_poca.com
> 21. mailto:DeTomaso at poca.com
> 22. http://poca.com/mailman/listinfo/detomaso_poca.com
> 23. mailto:julian_kift at hotmail.com
> 24. mailto:michaelsavga at gmail.com
> 25. mailto:detomaso at poca.com
> 26. mailto:michael at michaelshortt.com
> 27. mailto:DeTomaso at poca.com
> 28. http://poca.com/mailman/listinfo/detomaso_poca.com
> 29. mailto:DeTomaso at poca.com
> 30. http://poca.com/mailman/listinfo/detomaso_poca.com
> 31. mailto:julian_kift at hotmail.com
> 32. mailto:michaelsavga at gmail.com
> 33. mailto:detomaso at poca.com
> 34. http://www.michaelshortt.com/
> 35. mailto:michael at michaelshortt.com
> 36. mailto:DeTomaso at poca.com
> 37. http://poca.com/mailman/listinfo/detomaso_poca.com
> 38. mailto:DeTomaso at poca.com
> 39. http://poca.com/mailman/listinfo/detomaso_poca.com
> 40. mailto:DeTomaso at poca.com
> 41. http://poca.com/mailman/listinfo/detomaso_poca.com
> 42. mailto:DeTomaso at poca.com
> 43. http://poca.com/mailman/listinfo/detomaso_poca.com
> 44. mailto:jtaphorn at kingwoodcable.com
> 45. mailto:julian_kift at hotmail.com
> 46. mailto:michaelsavga at gmail.com
> 47. mailto:detomaso at poca.com
> 48. http://www.michaelshortt.com/
> 49. mailto:michael at michaelshortt.com
> 50. mailto:DeTomaso at poca.com
> 51. http://poca.com/mailman/listinfo/detomaso_poca.com
> 52. mailto:DeTomaso at poca.com
> 53. http://poca.com/mailman/listinfo/detomaso_poca.com
> 54. mailto:julian_kift at hotmail.com
> 55. mailto:michaelsavga at gmail.com
> 56. mailto:detomaso at poca.com
> 57. http://www.michaelshortt.com/
> 58. mailto:michael at michaelshortt.com
> 59. tel:912-232-9390
> 60. mailto:DeTomaso at poca.com
> 61. http://poca.com/mailman/listinfo/detomaso_poca.com
> 62. mailto:DeTomaso at poca.com
> 63. http://poca.com/mailman/listinfo/detomaso_poca.com
> 64. mailto:DeTomaso at poca.com
> 65. http://poca.com/mailman/listinfo/detomaso_poca.com
> 66. mailto:julian_kift at hotmail.com
> 67. mailto:2
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> 69. mailto:3
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> 71. mailto:5
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> 73. mailto:7
> 74. mailto:DeTomaso at poca.com
> 75. http://poca.com/mailman/listinfo/detomaso_poca.com
> 76. mailto:9
> 77. mailto:DeTomaso at poca.com
> 78. http://poca.com/mailman/listinfo/detomaso_poca.com
> 79. mailto:julian_kift at hotmail.com
> 80. mailto:michaelsavga at gmail.com
> 81. mailto:detomaso at poca.com
> 82. http://www.michaelshortt.com/
> 83. mailto:michael at michaelshortt.com
> 84. mailto:DeTomaso at poca.com
> 85. http://poca.com/mailman/listinfo/detomaso_poca.com
> 86. mailto:DeTomaso at poca.com
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> 90. mailto:DeTomaso at poca.com
> 91. http://poca.com/mailman/listinfo/detomaso_poca.com
> 92. mailto:DeTomaso at poca.com
> 93. http://poca.com/mailman/listinfo/detomaso_poca.com
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