I have confession to make...

[dubois]

I am really very superstitious! What does that have to do with 02's you may ask. Well, since I owned a bodyshop and I don't treat my car that well, I always thought I could self insure, ie liability only and I can fix it myself. It worked for 10 years, believe it or not, that's all I carried, on all the cars I owned. Ok, I'll get to the point now.

After six months of fighting an insurance company, one of my fellow 02'ers is finally getting (we hope) a fair settlement. And that is, his insurance company. So I decided to get a stated value insurance for my tii. Only problem is that technically, it has ceased to be my daily driver and I won't be allowed to lend it to anybody under 25 or go to a driving school. There is also a mileage limit of 7500 miles, and other limitations with Grundy. I think, for less than a dollar a day, it is a good value for $20K.

Ok, what changed? Bacchus got a new paint job last year, and I know, I just don't have the patience or disposition to deal with adjusters or embark on another paint job and restoration.!

The superstitious part, is that my policy has not been issued yet, so my car sits in the garage, and it is killing me, not been able to drive it, especially today that we hit 60 deg. and sunny.

[BillWilliams]

I have an agreed upon policy with Nationwide, no appraisal, the boys drove the car when they were in their teens and no mileage restrictions.

Both cars are insured this way.

[peteinjp]

The only part that would stop me would be the no drivers schools........ No one can drive any of our cars outside of myself and my wife. Inconvenient but it gets the premiums down here in Japan. If it makes you feel any better I have not been able to take my car out for a year- and it runs etc. Just needs new wheels and tires/ insurance and inspection- and maintenance. I just have not had time since I have started my new glass studio........ having an employee keeps me very busy.....

Next year i'll be posting about tearing it up here in the mountains......

pete

[JohnW]

I've got a confession to make as well. ... I've never had a car payment or anything but liability insurance since I've been 16 years old. I'm 34 now and I've saved thousands of dollars.

I pay $285/year to insure both of my cars with progressive and I carry more than the minimum liability.

The more you can cut out the stuff you don't really need (insurance and interest rates) the more freedom in this life you will have.

On the other hand, if my 02 looked anything like Dubois' or Bill W.'s tiis, I'm sure I would be singing a different tune. ...

[BMWonly]

I have both my 2002 and my 71 Opel GT insured with Grundy. There should not be a mileage limit on any Grundy policy.

Just had my first claim (backed my Opel into a post at a gas station pump), and they paid immediately, adjustment was pretty generous, and will not affect my premium.

Highly recommended !!!

Dieter

[M3M3]

very, very few car policies cover driving schools. even if policy does not prohibit them, you make one claim for a track incident and they drop you as too high risk). the general rule is never bring anything to the track you can't financially just walk away from. this is kind of counter intuitive as the schools help you become a better driver, but there are a few speed junkies that push it way to far in a school and keep balling up cars. that puts a spotlight on track schools and ruins it for the rest of us.

[Guest Anonymous]

be sure your policy for a stated value will pay that much if the car is totaled or stolen. Mine is insured for $9500, but states that that is the most they will pay - I still have to prove the car was worth that much if it is a total loss.

I probably should get a better policy - too lazy so far.

[InkaSteve]

Only problem is that technically, it has ceased to be my daily driver and I won't be allowed to lend it to anybody under 25 or go to a driving school.

Isn't Quien Sabe Road considered driving school??

My AAA "stated value" doesn't seem to have those limitations.

BTW Happy New Year, and it has been spectatular driving weather in SoCal.

[SteveJ]

the general rule is never bring anything to the track you can't financially just walk away from.

Which is why I don't bring my wife to the track. :^)

BTW- The golden gate chapter has been working on being able to offer track day insurance coverage for individuals. Don't know if it exists, yet.

[cj]

Stated value is good, but agreed value is better. I insure thru State Farm with agreed value coverage. No limitations.

Cris

[Armond]

Stated value is good, but agreed value is better. I insure thru State Farm with agreed value coverage. No limitations.

Cris

Cris,

I'm insured with State Farm also. Did you have your car appraised. If so, who did it.

[cj]

No, I did'nt. All I did was show them the article from Performance BMW Magazine(no joke) and they/we came up with a number. This was done with receipts and info from price guides.

We did this with the Camaro too. The Camaro had a 60k agreed value policy.

[dubois]

Stated value is good, but agreed value is better.

Cris

Very good point, I have to read the entire policy - when it comes - I am not sure which one I am actually getting. I did a search in the FAQ and it appears that people that had a claim with Grundy, were very happy with their settlement. Let's hope I would never have to find out.

I have heard of way too many stories, people removing full coverage and having accidents the next day. I don't want to jinx it, Bacchus sits until I get my policy!