Classic Cars
of the World
IT SHOULD NOT BE A NIGHTMARE.
Cost of repairs AUD$21,600. My lawyer tells me I should not say
that the insurance company came from the same country as the car.
SO WHERE DO YOU GO?
Insuring a Classic
&
Other Insurances
Imagine this -
My 1970 BMW 2800 ARe had been rebuilt to concours d'etat with all optional
extras available from BMW at the time. It cost me over AUD$35,000 in 1994 and
with the help from Munich, I had every piece of information and documentation
about the car including name of the New Zealand importer and details of the 2
owners since 1970.
Driving in town one day, a very pretty young girl was brushing her hair when she
got stuck in the turning lane and didn't see the two cars stopped at the red
light. Mine was the first one she hit.
Nominated value insurance cover - $35,000......... Payout $7,000.
Why? Because their assessment of the value was $7,000 and I could stipulate
whatever value I wanted to, pay whatever premium they decided but "it was not
worth more than $7,000."
It's what the insurance companies call "over-insurance averaging provisions"
Since compiling this web site, I have put various hypothetical questions to
those companies listed in my links.
All companies assure me that it does not occur with them. If you stipulate a
cost and can prove it with documentary evidence, and you pay the premium
accordingly AND you rebuild the car, they pay the costs of repairing up to
the stipulated value. In some cases, you don't have to rebuild the car if it is
a total write off.
I have it in writing and so should you.
Americans should go to - Grundy Worldwide, Horsham, PA
Australians mostly go to
Shannons
Europeans should go the
AA
- they cover all of Europe
OTHER INSURANCES
Join my Forum and have your say.
Insurance for Expats -
anywhere in the world. Foreigners may have
difficulty buying personal insurance when they are living in a country other
than their country of origin. Try Clements.
See my Blog.
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