Bean Posted June 19, 2011 Report Share Posted June 19, 2011 Stated value works much the same way as down there, but I'll have to investigate if there are any limitations to stated value insurance. I don't think there is, but there are similar limitations for licensing a car as a classic (over 30 years old) which has similar mileage and use restrictions. Not sure if stated value insurance itself has any though. I'm really hoping this past winter was the last winter the 89' will ever see, and once the mods are done the car will only see fair weather days in the summer. The 76' 504 is destined for stated value, as are all my Peugeots as they get restored. I'm hoping to keep a nice DD 505 turbo though that I can still have fun with day in and day out. Rabin Quote Link to comment Share on other sites More sharing options...
andrethx Posted June 19, 2011 Report Share Posted June 19, 2011 there are lots of articles out there for those who are just starting to consider this issue (like me). one of the better ones i've found is here. i was under the impression that the only way one could get stated value or agreed value insurance for your car was with a specialty/collector policy, with all of the attendant restriction. according to the above-cited article, it's possible to get less restrictive collector policies if you are willing to pay more, i think i'll be looking into that... andré ps -- sorry for edging away from your personal situation, fernando. anything else i find, i'll start a new thread. Quote Link to comment Share on other sites More sharing options...
Guest EUROTRASH Posted June 19, 2011 Report Share Posted June 19, 2011 ps -- sorry for edging away from your personal situation, fernando. anything else i find, i'll start a new thread. No no... please, it's all good info and it's totally relevant. Like Rabin said, I need to completely rethink my insurance strategy. I do believe this thread will eventually end up at the bottom of the pile and when someone else needs the info we will have to start a new thread, so... seriously we need a legal section. Quote Link to comment Share on other sites More sharing options...
webmaster Posted June 22, 2011 Report Share Posted June 22, 2011 I do believe this thread will eventually end up at the bottom of the pile and when someone else needs the info we will have to start a new thread, so... seriously we need a legal section. Excellent idea - welcome to the new legal section. Rabin Quote Link to comment Share on other sites More sharing options...
Guest EUROTRASH Posted June 29, 2011 Report Share Posted June 29, 2011 Excellent idea - welcome to the new legal section. Rabin Good job Rabin Notice how this thread started: "We do not use NADA or KBB, these are retail sites and do have a disclaimer that they are not for insurance purposes." Now I'll tell you how this case ended. The driver was at fault, no argument from his lawyer. But, the judge's final decision was based solely on one thing, the NADA valuation report I brought with me to court. The Low Retail value on NADA was $2,650, more than the cost to repair the car, this was enough to win the case. Do not believe ANYTHING that comes out of an insurance agent or a lawyer's mouth, what you bring to court is YOUR CHOICE... and usually what they'll bring to court is completely false. Quote Link to comment Share on other sites More sharing options...
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