emccomas

The car needs nothing...

It had $101K plus spent on the restoration that was finished in March of 2015, and has had 850 miles put on it since then.

I have all of the paperwork from the restoration shop in Denver that did the work.

I got it for the price I did because of a distress sale. The asking price on the car was $59,900.

Adam Boca

No, not at all. Their agreed value will be honored. We have had this underwriting requirement for over a year, thus the values can now be substantiated with market values.

emccomas

OK, so I am thinking about this situation in more general terms now.

Someone buys a high dollar collector car, and it gets stolen or catches on fire and is a total loss soon after the purchase.

I am thinking that this situation would bear further significant investigation BEFORE the claim was paid, and I also expect that most of us would expect that significant investigation.

Just thinking out loud, and not having thought this all the way through, would some sort of additional restrictions on use and / or storage / parking issues be appropriate for a period of time?

I guess I am thinking about something like "The car cannot be left unattended outside of it's primary locked and secure garage for the first six months / year after insurance coverage coverage is added."

And perhaps even go a little further and require not just a locked garage as primary storage, but a locked garage that has a building alarm system.

Or maybe the car is required to have a lojack type device installed for the first six months / year.

I am already thinking about all of these ideas, plus some others, for my car.

emccomas

You probably did not make a plan with the deer to jump in front of your car, correct? Yes, I am being facetious.

I have absolute confidence in Adam and NCM taking care of me in that sort of situation.

My concern is the total loss situation, and the agreed value coverage limits.

Adam Boca

All great ideas, however, hard to police or control. PLUS, many people don't want to alter or modify their vehicle for vehicle tracking devices.

emccomas

What kind of modifications are needed for lojack? Honestly, I don't know much about it.

Frankie the Fink

Waste of money with pro theives. You can buy a handheld LoJack/GPS/cell phone jammer for $300 online.

PAmotorman

how good does your insurance work if you are at fault and there is serious injury or a death would be more important than the repairs to your car.

67air

Here's some info that I DID NOT KNOW & learned the hard way. Potentially many of you may not know this but you need to. I had NCM (who BTW subs their insurance out to one of the "Big 3" ) for a good 5 + years & they had 3 of my expensive cars. Last yr I came across a real Sweet barn find car & decided to sell my 67. Like most of you I don't have alot of time for tire kickers & people who come & snoop around your house. I have a classic car dealer in the next Town who's COMPLETELY brick & Mortar with camera's alarms ---you name it, plus they can deal with the tire kickers--for 5% Heck ya ! NEVER had an issue. So, upon dropping it off I called NCM to see if I should suspend my collision just to check & make sure. I was told , NO you cannot bring your car to a dealer for them to sell it for you. It must remain at your residence. I explained that I had used them before with no issues & that it was a reputable Co of over 25yrs in business, completely safe & secure.
Again, the answer was NO.

This is when I got on the Ph with Haggerty, & Grundy etc ( all very nice folks to speak with) & explained my situation. ALL OF THEM replied; "as long as we can check them out" & see that they are a legit brick & Mortar Co, we have NO ISSUES with you selling your car there ! I was quite relieved to hear that.

Here's where it got even better-------------I contacted Heacock Classsic next. I spoke with a nice woman there & she gave me the same answers allowing me to sell my car away from home & they ended up being $100 bucks less than what I was paying at NCM & $400 less than the other 2 I mentioned above. They also insure some really high end cars & use American Collectors as well. Definitely ,a well run co. Well worth making a call & doing your homework as well.

That's my story & 10 cents worth & NO I do not work for them-----see for yourself.


A little homework goes a long way.

cv67

never had a claim but one thing Adam did is go over my DD policies and learned I was spending too much...and not enough coverage a few phone calls fixed that.
Also have 0- deductibles on dailys thank god cause we needed it recently. If you carry minimum cause your daily isnt worth much reconsider..full coverage the only way to go.
Thumbs up to him

Always carry enough just in case someone has the wrong lawyer

67air

The best way it seems now a days is to have a 3 mill homeowners umbrella policy. My Father in law always told Me " It doesn't hurt to wear a belt with your suspenders ! "

poncho69

Haggerty allows unlimited miles.

leif.anderson93

Six year old thread!!!

poncho69

so what?

leif.anderson93

Correction...18 year old thread, 6 years since the last post.

68hemi

Times change. You would be better off searching this forum for a more recent thread on the subject as there are many.

road pilot

So What This thread started in 2005.

vettebuyer6369