Conference napalm::musclecars

        I have had a stated Value policy on my Challenger with Metpay for
    3 years now.They require an appraisal from a certified appraiser.The
    amount it is insured for is listed right on the policy.I haven't had
    to make a claim (on the stated value policy),but if I did,I feel
    confident that Metpay would pay up (it is in writing).I have had other
    claims with Metpay that I felt were settled fairly.
    
                                                       Rich
    
    

    I too have been jerked around by the companies. Having a 6+ month 
    battle with the Hartford Ins Co. over a restored vehicle (covered under
    their so called "stated value policy" that I previously owned which was 
    stolen and then recovered. I finally got them to within $50 of the 
    damage cost (they wanted to give me half) but it was a LONG battle. 
    So much for their stated value!
    
    A friend of mine has a '67 Camaro bigblock which he insures thru a 
    company called Hagerty Classic Auto Ins (1-800-922-4050). The actual 
    carrier of the policy is Greenwich Ins. Co. I've read the terms and
    conditions of it and it's pretty comprehensive, geared specifically 
    toward classic and collector cars.
    
    They require a current appraisel with numerous photographs. For your
    sake the appraisel should be updated yearly and new photos taken. I
    usually make sure that the registration sticker on the license plate
    is clearly visible so there is no question as to the time period the 
    photo was taken.
    
    Chris

    I had a policy with Peerless excelsior Insurance and they had one of
    their appraiser look at my Torino for me.  They would not accept an
    outside appraisal from anyone else.
    	I went down to have it appraised and the gentleman took his time. 
    Looked under the car checked out the engine compartment asked me if all
    the numbers matched, checked out the paint.
    	He then pulled out his little book and stated me a value of $9938
    for the car.  I was very pleased with this because the person I had
    apprasie it before had given me a value of 7500 and hadn't even known
    what engine was in it.  He said well your car is worth 7500, by the way
    what does it have for a motor a 302, when in fact it has a 429 cobra
    jet.  This was a t NE specialty cars in Nashua NH, needless to say I
    did not go back there again.
    	I don't know if the car is worth more than the 9938 but I was happy
    with that.  It has original paint and it is still quite shiny.  It has
    the 429 CJ with shaker hood, hideaway lights, Magnum 500 rims, C6
    Trans, 9 Inch rear end, and a few other little goodies.
    	The guy was very nice and gave me a carbon copy of the appraisal
    form in case the insurance company gave me any trouble with it and I
    never had any problems with them.  I ws disappointed this year however
    becuase my insurance agent has stopped dealing with peerless and I had
    to sign up with a new company.  I hope I don't have any trouble with
    them insuring the car.
    				Walter Fleury
    

My shoes are wet with drool, after reading the description of your Torino. ;-)


	The guy from Hagerty insurance faxed me a couple pages from his policy,
which contain the magic words:

**************

LIMIT OF LIABILITY:


A.
	"We will pay the limit shown under Coverage D of Declarations for 
each scheduled vehicle which is agreed to be the value of "your covered auto"
in case of a total loss"  (Coverage D is where you state the appraised value;
they do require an appraisal.)


B.
	"For all other loss or damage to your covered auto we will pay the
amount necessary to repair or replace the property with similar kind or
quality, whichever is less, WITHOUT REGARD TO DEPRECIATION OR BETTERMENT, but
we won't pay more than the agreed limit per vehicle shown under Coverage D of 
Declarations."


**************

	So, there you have it - no depreciation, and they pay the stated 
amount for a totalled vehicle.  Here's the best news, a $10,500 policy, which
allows 2500 miles/year, "Shows, events, Sunday driving" is $106/year!  This
even includes a fat 100/300 Uninsured motorist provision.  My Prudential 
insurance is $152/year, has a 3000 mile limit, and isn't technically "stated
value"  The Hagarty guy didn't even balk when I mumbled that I might drive it
to work on occasion.  FWIW - they have 4 agents in Colo. Sprgs. and 12+ in the 
Denver area.

	He implied that tickets/accidents on your record won't raise the 
price, but if great in number, they just won't sell you the policy.  I don't
know what their cutoff is.

	He told me "You seem to have a great understanding of what is wrong
with most policies"  No kidding!   Their policy is in a very "plain English"
(American?) style, with no ultra-confusing wording or fine print.  They have
little to hide.

	So, I'm impressed.  Thanks for the tip.  I think I know what's going
to happen at renewal time.


Steve

    Glad to hear I could help.
    
    Chris

    Steve,
    	Nothing like trying to trip you up with fancy words now is there. 
    I wanted to ask you do all insurance companies set a mileage limit or
    is that just your insurance company.  When I was still in college I
    ended up putting around 5000 miles a summer on my car, but once I
    started working last June I omly put about 1400 miles on it.
    	I don't think so though because I never recall seeing anything like
    that written on the policy, besdies the Torino is the second car on my
    policy, the first car is my 91 Buick I have as my daily driver.  The
    Torino is insured for everything including collision and I end up
    paying about 700 dollars a year extra on the policy.  My insurance is
    really outrageous being as young as I am at 25 and being unmarried.  My
    Buick runs about 2800 dollars per year!  Anyway enough rambling on here
    and I will be talking to you later.
    				Walter Fleury
     

                     <<< Note 100.6 by ABACUS::FLEURY_W >>>
                               -< Milage Limit? >-

>    I wanted to ask you do all insurance companies set a mileage limit or
>    is that just your insurance company.  When I was still in college I
>    ended up putting around 5000 miles a summer on my car, but once I
>    started working last June I omly put about 1400 miles on it.
 
Hmmmm, my Prudential policy didn't have it written in, but the application 
did.  My agent said something about "you'll have to show us oil changed records
or something that shows mileage about once a year"   Of course, he's never
even seen the car itself.  They seem to have a strange disinterest in the
car itself (which concerns me).  The agent did tell me that if I went over
3000/year, they'd charge 2x or more for the insurance.

I didn't see a mileage limit on this Hagerty policy.  I guess if I bought it,
and it wasn't codified in writing, I'd probably make like it didn't exist.
I assume somewhere it says "Max 2500 miles/year"



Steve

    Steve,
    	Thanks for the input I just got my new insurance policy in the mail
    yesterday from the new company.  I will look it over and see what I can
    see.  Hopefully I do not see anything like this.  If I do (you can't
    hear this because it's in parenthases: maybe I will just unhook the
    speedo cable?).  Of course not like I have to worry about it now that I
    am working I don't have much time to drive it but I am a temp and I
    have to take a 45 day leave starting June 1st as part of my agreement. 
    That will make for some good cruising time during the summer anyway.
    				Walter Fleury
    

     i use american collectors ins. co. out of new jersey (i have a local
    agent here in la.) 800-257-5758. another company that offers stated
    value is j.c. taylor (see any muscle car magazine).  they are both
    reputable and use the standard pricing guides to determine the value if
    different than your application/policy.  pricing guides= gold book,
    c.p.i., old cars price list. my friends all use one of these companies
    and they have a great reputation for settling claims fairly (this is
    their only business).  the 2500 mile limit per year seems pretty much
    standard.  am. collectors includes a flyer that says "no saturday
    nighting"  but there is no definition of this term nor is it in the
    policy terms.   must just be a scare tactic! good luck.

I got the Hagerty application yesterday, and they require at least "four clear 
color photographs showing the whole car, with detail - No slides or instant 
prints."  I may send them some closeups of relevent parts, too, in addition
to the four whole-car prints. 
 
They didn't say they wanted an appraisal.  I _may_ send them an appraisal, but 
since he agreed with my stated value over the phone, I may just wait until 
they ask me for one.  They may only require an appraisal if you claim the car
is worth significantly more than their value guides indicate.

I was surprised to see the deductibles for Collision/Comp were $0 (zero), and
the premium was $106/year.   I'm still waiting for the other shoe to drop ;-).



Steve

    Steve,
    
     Did Hagerty require a certan minimum age the car must be? Like 25+
    years. I thought I read that but can't be sure.
    
    Chris
    

Since I only have two pages of their policy, I cannot tell.  I'd call them at 
the 1-800 number mentioned earlier.  I'd be guessing, if I suggested anything.

Steve

    Collision and comp are cheap for nearly any vehicle. It's the liability
    coverage (which is required by law in most, of not all states) that'll
    kill ya! :-( 
    
    Harry
    

    Harry,
    	Insurance is not required here in NH.  Though it would be a very
    stupid thing to run around without it however.  I was in an accident
    with a guy who was uninsured one time it was a major accident with
    fatalities involved and he was at fault.  He was only 18 years old and
    now will be paying for the rest of his life and will never have
    anything.  So since that time I feel very strongly about having the
    proper insurance coverage.  Even though this was personal injury you
    are still not required to carry even liability in NH.
    				Walter Fleury
    

>                      <<< Note 100.11 by CRISTA::ROCHE >>>

>    Steve,
    
>     Did Hagerty require a certan minimum age the car must be? Like 25+
>    years. I thought I read that but can't be sure.
    
>    Chris
 

   No appraisal is required for any car, unless your stated values is beyond 
what their reference books (CPI, etc.) show.  My "stated value" was right on 
the money.  

	The woman I talked to said that they _do_ require an appraisal for 
ALL kit cars, and that would imply that they do insure cars newer than 25 
years old.


Steve   

I got my Hagarty Ins. policy and paperwork yesterday.  This company seems to be
very businesslike - they pick up the phone on the first ring, and return calls
leaving intelligent voicemail.  So far I've been very impressed with what
questions they have and haven't asked.  

I guess the real test is in how they settle a claim, but their policy is very 
clear on this.  At least they've passed the first test of being able to sell
their product without making the customer jump through hoops. 

Steve

    Well I finally called Hagerty and got a quote. They're sending the
    paperwork out today. Total cost $161 per year for both my 71 Monte 
    Carlo and 67 Firebird. I didn't think the Monte Carlo would qualify
    but their info classifies it as collectable and I was unsure on the
    Firebird since it's not completed. They will insure the Firebird even 
    though the restoration is only 70% completed. I need to send them more 
    pictures than the standard 4 required for a finished car but that's no 
    problem. The value we agreed upon is $5000 for the Monte Carlo and
    $8000 for the Firebird in it's current state. He had to look the values
    up in their documents and it all agreed. I will get a current appraisal
    from a certified appraiser even though it's not required. Hopefully
    I'll never have to collect since that's when you find out how good they
    really are.
    
    Chris
     

    Why would someone get just collision & comp insurance.  WHat about
    liability?

    That $161 includes liability, uninsured motorist (mandatory in NH),
    collision, comprehensive and medical.
    
    Chris

    I'm probably going to get the stated value for my car thru Metpay. Does
    anyone know of any good classic car apparisers in the LIttleton, MA
    area?
    
    Thanks
    Debbie