Topic: Insurance
in Forum: C3 General Discussion
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let me start by saying that Ive posted this in several other forums to try to get as many thought and opinions as possible.
I hijacked a thread on another forum about car insurance.
I'm gonna rehash it here to get your opinions. I was checking on collector insurance for my car after i found out that my current insurance may value my vette really low in the event of a total loss situation.
while going through all the info I was told by a friend to be careful because my employers insurance doesn't cover injuries due to auto accidents.
He had hit a deer and rolled his truck and was left owing hospital bills. He even showed me where they(employers ins.) required him to pay back the medical bills that his car insurance didn't pay to the tune of $20,000+
Now if I switch to collector insurance and the cap on medical payments is $5000.00 that doesn't provide a lot of confidence for that coverage right?
Oh yeah, i work for a fortune 500 company that uses blue cross blue shield so I was surprised to say the least. Am I the only person that didn't know this info:lookinup:.
J
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3 things :
you need to get a policy where the agreed upon value for the replacement of "The Mistress" is specifically stated in the policy. This can be a collector/show car policy for a fraction of current rates.
second - determine the coverage for injury within the policy and increase with a rider for bodily damage in the event they do not offer sufficient coverage
third - don't wreck !!
good luck
you need to get a policy where the agreed upon value for the replacement of "The Mistress" is specifically stated in the policy. This can be a collector/show car policy for a fraction of current rates.
second - determine the coverage for injury within the policy and increase with a rider for bodily damage in the event they do not offer sufficient coverage
third - don't wreck !!
good luck
When I went to Hagarty they copied my other car policy..meaning I have the same coverage for injury or medical and damage to property in both policies ..I have an agreed value for the car..I think every state is different with what are mandated..like mine have to be the same in coverage...I sent them a copy of the statement page and that's all I had to do..I am assuming you and your budy were driving on company time or have a company car..that's a different beast all together.. its a no brainer..take a payout on the company car and get your own..one of the things I hate about what I do is driving other peoples pieces of poop cars..if I wreck one I pay for it..so I don't drivem much..
Richyostusota 2011-03-22 17:46:18
Rich
My first parade at Carlisle 2010
I wasnt with him, he was on his personally owned vehicle on the way to work. his liabillity coverages were the standard 100k\300k BUT there was a cap on medical pymnts($10,000) for him because he thought his health insurance from work would cover him if he ever got hurt
hagerty only offers $5,000 in medical coverage for the car owner
I didn't know you could use health insurance to cover something that hapened in a car wreck..well I guess you can't ha! My policy has it written for the 350/600 that I have on my other cars..who would want insurance that only covers 5k of bodily injury??? No one...like I said all states are different..like you don't have to have insurance in Al..I think..at least I remember it that way..
Rich
Rich
My first parade at Carlisle 2010
Lifetime MemberModerator
Duncanville, TX - USA
Joined: 11/8/2003
Posts: 20229
Vette(s): #1-1974 L-48 4spd Cp Med Red Metallic/Black deluxe int w/AC/tilt/tele./p/w-p/b/
Am-Fm/map light National/Regional/Chapter NCRS "Top Flight"
#2-1985 Bright Red/Carmine Cp.L-98/auto
Member: NCRS, NCRS Texas, Corvette Legends of Texas
I just got my Collector's renewal from Heacoc k. Both Corvettes covered for $309 year, plus un/under-insured...
I'll have to dig it back out and see what all the numbers are, but Texas raised the state minimum for liability this year.
I get 3000 miles/year allowance on the '74, and 6000 miles/year on the '85. Stated value on both.
I'll have to dig it back out and see what all the numbers are, but Texas raised the state minimum for liability this year.
I get 3000 miles/year allowance on the '74, and 6000 miles/year on the '85. Stated value on both.
Joel Adams
C3VR Lifetime Member #56 
My Link 
(click for Texas-sized view!) NCRS
"Money can't buy happiness -- but somehow it's more comforting to cry in a CORVETTE than in a Kia"
It's important to note that liability figures are not the same as personal medical payments
example
bodily injuries liability 100k\300k
uninsured motorist liabilty 100k\300k
neither of these cover the driver or his passengers only people in other vehicles.
medical payments are for the driver and passenger in your car.
Now if i'm reading the average collector car insurance policy right then they dont have much coverage.
American collectors ins. =$1,000.00 cap
hagerty's =$5,000.00 cap
national vette muesem =$10,000.00cap
etc.
I'm probably just being anal but those limits concern me. I mean 1 broken leg with pins could exceed $10,000
Somebody tell me i'm wrong please.
in Forum: C3 General Discussion
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