history and reference Your VIN is incorrect!

[dang]

Got a notice in the mail from my insurance company.  The '76 2002 that I added to my policy last month apparently doesn't have the correct VIN number.  Funny, you can't add non-17 digit VIN's on the website so I used the online chat and had one of their support people add it.  "Your VIN needs to be updated on your policy, please correct it asap"... says the notice.  I laughed.  I called them and assured them that it only has 7 digits.  Obviously they don't deal in old cars very often since they offer "depreciation" coverage, but I only need liability so it doesn't matter.  Don't you love computer generated notices that were programmed by someone who doesn't know what they're doing?

 

Dan

Edited October 6, 2016 by dang

[Mike Self]

Dan--a suggestion on your coverage--if your company will write comprehensive on your car, you might check its cost.  On older cars it's very inexpensive--even no deductible--and will pay for itself the first time a truck flips up a rock and breaks your windshield--or you get caught in a hailstorm as I did a couple of years ago--$4400 damage and my comprehensive paid it all 

 

Some companies won't write comprehensive on cars more than 10-12 years old--why I use USAA.

 

mike

[vacca rabite]

No one likes to think about it, but if your car gets wrecked, you won't get anything back.  Even with comprehensive coverage on a car this old you are going to get lowballed when the adjuster comes a-call'n.You can get actual worth, but you may have to fight for it and provide your own comps.

 

If you don't daily drive your car, several companies offer classic car insurance that is very cheap and where you agree on the value of the car right from the outset.  But it usually has mileage restrictions and stuff like that.

 

We put a lot of time and money into these old cars.  When they get crunched all that value goes away.  Its a smart idea to carry at least comprehensive insurance.

Zach

[KFunk]

1 hour ago, vacca rabite said:

No one likes to think about it, but if your car gets wrecked, you won't get anything back.  Even with comprehensive coverage on a car this old you are going to get lowballed when the adjuster comes a-call'n.You can get actual worth, but you may have to fight for it and provide your own comps.

 

 

That wasn't the case with State Farm on mine.  I signed up for comprehensive for cheap, just like any normal car.  Just a few more bucks a month.  Hit a large ~10+ point buck that came thru windshield at 60+mph, and rear end spun around to crush quarter panel.  State Farm asked for an estimate from one of their body shops or my body shop of choice (of course, guy I know that I can trust with old cars and to work with me).  He came to my house and took some pics and wrote up a quote and e-mailed them to State Farm.  State Farm sent me a check for $3K, no debate at all and no real increase in rates.  I added a couple thousand to repaint the whole car and repair other dents and rust.  

I didn't expect it to be so easy.  I considered just pushing out dent myself and replacing windshield, just to save trouble of fighting/totalling it.  I asked the one body guy and another for advice before submitting claim.  They both said it was certainly repairable, and values are high enough they won't total it.  That does help quite a bit now that NADA Classic and Hagerty both show sky high prices on these cars.  You don't have to do any legwork for them, they can just look it up themselves.  

Edited October 6, 2016 by KFunk

[vacca rabite]

As long as they are using NADA classic or Hagarty, and not some other source.  I've have friends really get run around over this in the past.  

 

Also, in your case $3k was enough to fix your car.  But if you had a $10K paint job before the deer strike and suddenly you have to do repair and paint for $3k - you can see where having an agreed upon value would be helpful.  With old cars the value can cover such a huge range, and traditional insurance isn't used to dealing with that.  The trade off is that agreed value comes with strings to lessen your risk value to the insurer.

 

Zach

[KFunk]

39 minutes ago, vacca rabite said:

As long as they are using NADA classic or Hagarty, and not some other source.  I've have friends really get run around over this in the past.  

 

Also, in your case $3k was enough to fix your car.  But if you had a $10K paint job before the deer strike and suddenly you have to do repair and paint for $3k - you can see where having an agreed upon value would be helpful.  With old cars the value can cover such a huge range, and traditional insurance isn't used to dealing with that.  The trade off is that agreed value comes with strings to lessen your risk value to the insurer.

 

Zach

 

I didn't ask them what they used to estimate it.  My body guy used Hagerty just to check, but State Farm just sent a check.  I'm assuming they looked up stuff on their own and found verification that the quote was legit, but no idea really.   

We had an agreed on value.  I had just guessed at it before when I told them I wanted comprehensive, somewhere like 6K or 7K, I forget.  They didn't really care and it didn't affect much.  The car was a beat-to-shit daily driver with original paint (with freshly built engine and suspension).  I made sure they came outside and looked at it and took pics when I signed up for it, so they would see the many prior dents.  

After the buck, I was trying to make sure the body guy didn't give an estimate for much over $3K, so they wouldn't total it (isn't it like over 50% of value? someone told me that isn't true anymore though).  You could probably make an estimate as high as you want if you calculate in all OEM parts and really get picky about stuff.  

The $3K check was sent directly to me, with no specifications on how to spend it.  I then sourced used parts for cheap myself and did most of the dissassembly/assembly work myself to save the body shop time and money.  

After paint, I had them set the agreed on value at 14K (seems high to me, but why not).  I made them go outside and look at it again. 

 

edit: and no strings attached on my car, as many miles and wherever I want.  I think I put it down as for 'pleasure' though for all my vehicles, since I'm not sure if any truly qualify as daily driver.  I most often commute with the 2002 right now, but many days when I have to take baby to daycare its the wife's Subaru, if I want good parking on campus I take the Yamaha, if I want to haul stuff I take the truck to work, if there's salt on the road I take the beater Subaru or Miata.  So, you know, it varies, hah.

Edited October 6, 2016 by KFunk

[TobyB]

Given the recent inflation in 2002 values,

we're less likely than an E30 to get totalled out.

They're not chrome- bumpered 911's yet, but there's

a growing history of the cars changing hands for $20k.

And insurance does, eventually look at that, if your policy makes them.

 

But as with all insurance matters, the burden of

proof usually ends up with you.

 

t

[dang]

Suggestions heard... but I'm flipping this car and only driving it to "get the bugs out".  I know its risky and since I should only have it a short time full coverage wouldn't cost me that much either.  I'll use non-collision coverage to motivate me to sell!