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Number: 4938
From: "azmustangman2000"
Date: Sun Apr 18, 2004  2:44 am
Subject: Re: INSURANCE GUY WON'T FIX

Body:
Re: INSURANCE GUY WON'T FIX

Like most people who own a McLaren, my insurance company tried to
insure my car using strictly the VIN number. The VIN just comes up
as a standard '88 LX Mustang and therefore the insurance company
wouldn't have given me much if it we're ever in an accident since
they use low blue-book value.

I thought of using one of those speciality collector's insurance
companies, but they have too many stipulations like you can't use
the car to commute. Sorry, but although it isn't my daily driver,
my McLaren mostly gets driven to and from work when I take it out so
I didn't need my insurance company holding that over my head to get
coverage.

I had an independant appraisal done from a company who specializes
in collector cars complete with pictures and used it to get it
covered properly with my standard insurance company. I think the
appraisal cost me about $175 and now the insured value of the car is
$10k (Before Sandy says anything, I know I could never sell it for
that much, but that is what the appraisal came back with).

I use Liberty Mutual as my insurance company and they were really
good in getting the agreed coverage setup providing the independent
appraisal was done my a reputable or expert individual.

--- In ascmclaren@yahoogroups.com, "negusm" <negusm@y...> wrote:
> So I've often thought, when I get my car and have a good $20k into
> it or more, what insurance can I use to "protect" the value of the
> car so that if it gets hit, a small fender bender won't "total" it.
>
> I don't think any "normal" insurance company is going a assess a
> 1985 Capri for more than $5k. Even as a collectible ascMcLaren, I
> doubt the book value is much more.
>
> -Mike