[DeTomaso] Insurance valuation

[Julian Kift]

Forgot to add back the list in the To; Why sometimes does it do that and cutoff the list email when you hit "reply all"?




I don't understand that logic, you appear to be advocating under-insuring your car and taking on higher personal risk?
Bear in mind that a total loss is based upon the cost to fix as a percentage of insured value, so by under insuring you are also increasing the chances your car will be a total loss if anything happens. The payout might cover your investment if you bought early and cheap, but is not likely to get you back into an equivalent Pantera, to save what? Maybe a couple hundred bucks a year or a couple thousand spread over a 10 year ownership where (and I am assuming you drive the car) the probability of some kind of incident increases.
Julian

Date: Tue, 6 Oct 2015 17:03:33 -0400
To: arjun.ghoshdastidar at gmail.com; detomaso at poca.com
Subject: Re: [DeTomaso] Insurance valuation
From: detomaso at poca.com

 
But do keep in mind that above a certain amount ($60K?) you are really only insuring against a total loss or unrecovered theft.  What the odds of that happening?
 
So you are paying in this case 50% more for your insurance with a microscopically small chance of it benefiting you
 
Jim
 
 
-----Original Message-----
From: Arjun Ghosh-Dastidar <arjun.ghoshdastidar at gmail.com>
To: detomaso <detomaso at poca.com>
Sent: Mon, Oct 5, 2015 6:10 pm
Subject: [DeTomaso] Insurance valuation
 
 
Got my insurance renewal letter in the mail today and the carrier is
   pegging
replacement value of valuing an unrestored car at $90K for
   2016. Spoke with
my agent to confirm this.
   If your car is insured at an agreed value below
this amount, time to
   call your agent and up the amount.
   For the rest of
you peeps, further proof that the value of our cars is
   on the rise and even
the stingiest appraisers are giving $90K for
   replacement value.
 
 
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-------------- next part --------------
   Forgot to add back the list in the To; Why sometimes does it do that
   and cutoff the list email when you hit "reply all"?
   I don't understand that logic, you appear to be advocating
   under-insuring your car and taking on higher personal risk?
   Bear in mind that a total loss is based upon the cost to fix as a
   percentage of insured value, so by under insuring you are also
   increasing the chances your car will be a total loss if anything
   happens. The payout might cover your investment if you bought early and
   cheap, but is not likely to get you back into an equivalent Pantera, to
   save what? Maybe a couple hundred bucks a year or a couple thousand
   spread over a 10 year ownership where (and I am assuming you drive the
   car) the probability of some kind of incident increases.
   Julian
   Date: Tue, 6 Oct 2015 17:03:33 -0400
   To: arjun.ghoshdastidar at gmail.com; detomaso at poca.com
   Subject: Re: [DeTomaso] Insurance valuation
   From: detomaso at poca.com

But do keep in mind that above a certain amount ($60K?) you are really only insu
ring against a total loss or unrecovered theft.  What the odds of that happening
?

So you are paying in this case 50% more for your insurance with a microscopicall
y small chance of it benefiting you

Jim


-----Original Message-----
From: Arjun Ghosh-Dastidar <arjun.ghoshdastidar at gmail.com>
To: detomaso <detomaso at poca.com>
Sent: Mon, Oct 5, 2015 6:10 pm
Subject: [DeTomaso] Insurance valuation


Got my insurance renewal letter in the mail today and the carrier is
   pegging
replacement value of valuing an unrestored car at $90K for
   2016. Spoke with
my agent to confirm this.
   If your car is insured at an agreed value below
this amount, time to
   call your agent and up the amount.
   For the rest of
you peeps, further proof that the value of our cars is
   on the rise and even
the stingiest appraisers are giving $90K for
   replacement value.


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