Owners vs. The Insurance Companies

["cruznmd" <racuti1@xxxx>]

Hi all,

I've seen a few posts in the last 6 months regarding members who've 
had the bad fortune to have their DeLoreans totalled out in accidents.

The most recent post by "bepositive" detailing how his insurance 
company is shafting him has prompted me to do a little research. 
For some of us, getting insurance at all is very difficult, but 
paying for insurance that won't pay you for your wrecked car is worse 
than having no insurance at all.

First, after calling Safeco, State Farm and Allstate, I found they 
all say they will pay "fair market value". When pressed on where they 
obtain that data from, they all faltered and refused to provide me 
with a concrete answer. They have no idea what "fair market value" 
for a DeLorean is because the market is tiny.

My insurance company, (Safeco) did state that they would honor a 
written, signed, appraisal by an auto dealer, antique dealer, or from 
the DeLorean vendors/service centers. They will then adjust my 
premium accordingly vs. just pluggin in a VIN number and going with 
the default value in their computers. As you can imagine, the default 
value is tied to the VIN which shows the age of the vehicle so the 
payout probably wouldn't be the worth of the vehicle. All they see is 
a 20+ year old car.

Many of us do our own maintenance and repairs. I want us all to get 
fair value for our collector's cars, our time, sweat and parts. 
Unfortunately, many of us aren't "professional collectors" and don't 
know all the in's and out's of insurance companies.

For those of us who aren't savvy, I urge you to contact your 
insurance companies and find out exactly what happens if your car is 
totalled. Get names and times. Press them. Be a jerk. Don't let them 
waver. If they sound uncertain, tell them you have their name and 
you're holding them to it. Talk to a supervisor, whatever it takes.

Insurance co's are in the business of making money, not paying it out.

Respectfully,

Rich Acuti
#5335