Wrecked 914 part 2: The insurance offer, Hold your nose |
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Wrecked 914 part 2: The insurance offer, Hold your nose |
Dr Evil |
May 5 2008, 11:34 AM
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#1
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Send me your transmission! Group: Members Posts: 23,002 Joined: 21-November 03 From: Loveland, OH 45140 Member No.: 1,372 Region Association: MidAtlantic Region |
I just got a call from my insurance company. For a 73 914 with an estimated 144,000mi, bucket seats, targa top, power steering, power breaks (IMG:style_emoticons/default/av-943.gif)
$4770 with $500 taken away if I keep it for salvage (IMG:style_emoticons/default/dry.gif) (IMG:style_emoticons/default/WTF.gif) I am not accepting this.....time to check my options. |
flat4 |
May 7 2008, 03:04 AM
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#2
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Member Group: Members Posts: 120 Joined: 13-December 07 From: Australia Member No.: 8,459 |
It is interesting to see how insurance works there. Here is Oz I would expect to have zero coverage if they found an undeclared modification on a car. Their argument will be that they insured a slow car and you now have a fast car. The risk is clearly higher as you span off the road...
I insure all my cars at agreed value and list every modification and insist that they write them on the policy document. It appears to cost me $50 a year extra over bargain basement coverage but is worth it. When taking cover out on a car they offered me a silly (high) agreed value, so I said OK and took it. I later had a write off claim and they paid in full. I mentioned to them that I expected them to haggle and they told me that they always aimed high with agreed value as a marketing tool to get people to sign up & be happy in the event of a claim. They factor the risk into the policy cost. Cheers, Steve |
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