Insurance Super Low Balling Me for Totaled Car.

[Milkman1265]

Classic car policies are awesome, but..... just watch the exclusions in them. These usually do not cover a car that you drive regularly. I have no idea how the OP's car was used, just know I've sold enough classic car policies to understand that few people read the actual policy and what it is designed for.

In essence, if your car is primarily used in parades and car shows and is normally towed to get there, these very inexpensive classic car policies work well. If you drive over 4000 miles a year, they fall apart (actual mileage may vary).

Dan

I think they dont have milage exclusions but if you drive like 10k a year they obviously know youre not storing it lol. Also, over here if the police see you ALL the time with historical plates they pull you over and ask where you going.


but +1 on what you said, what the use of the car is very important. I pay 102 dollars a year for 5k agreed value 100/300/100 with no mileage restriction, but again if if each year i have like 10k miles, its gonna be excluded.

 

[djs]

The mileage restrictions might vary based on location. Its still a limited use policy and in most areas, there are very strict mileage restrictions, along with usage restrictions.

Either way, my point stands. I believe the OP used this car as at least a somewhat daily driver, which would mean a collectors car policy is not applicable. Commute is definitely not an allowed usage on a collectors car policy.

Dan

 

[Jinc]

Sometimes you get what you pay for...

 

[KPIA]

I'd like to hear if OP has resolved his claim yet.

If not, have you considered asking State Farm if they would be willing to arbitrate the matter? You each pick a number, you settle on an arbitrator. Don't just take the one they recommend, sometimes you each pick an arbitrator and those two pick the one who will be deciding the matter. You can agree to each bear the costs with perhaps the loser paying the winner's costs. You each present your case, arbitrator picks one of the numbers or, depending on what you agree to, picks something in between. If the latter, don't be surprised if he/she picks a number smack dab in the middle.

Just an idea.

 

[BigIVU]

Doesn't your policy have an appraisal clause like this?


APPRAISAL

A. If we and youdo not agree on the amount of loss, either may demand an appraisal of the loss.In this event, each party will select a competent and impartial appraiser. Thetwo appraisers will select an umpire. The appraisers will state separately theactual cash value and the amount of loss. If they fail to agree, they willsubmit their differences to the umpire. A decision agreed to by any two will bebinding. Each party will:

1. Pay itschosen appraiser; and

2. Bear theexpenses of the appraisal and umpire equally.

B. We do not waive any of our rights under this policy by agreeing to anappraisal.


Copyright ISO Properties, Inc., 2003