Heacock Insurance - Switched from Leland West
11-17-2015, 08:15 PM
#46
the good news is we get to pick our battles.
the stated value policies are specific in limitations which could be hard for me to argue if an accident occurred outside of those limitations.
my current agent assures me that I am covered for replacement value of my current car, even have it in writing.
but the policy reads actual cash value and the insurer will probably say that value is 18k.
a fight either way I suppose.
the stated value policies are specific in limitations which could be hard for me to argue if an accident occurred outside of those limitations.
my current agent assures me that I am covered for replacement value of my current car, even have it in writing.
but the policy reads actual cash value and the insurer will probably say that value is 18k.
a fight either way I suppose.
11-17-2015, 08:19 PM
#47
Rennlist Member
the good news is we get to pick our battles.
the stated value policies are specific in limitations which could be hard for me to argue if an accident occurred outside of those limitations.
my current agent assures me that I am covered for replacement value of my current car, even have it in writing.
but the policy reads actual cash value and the insurer will probably say that value is 18k.
a fight either way I suppose.
the stated value policies are specific in limitations which could be hard for me to argue if an accident occurred outside of those limitations.
my current agent assures me that I am covered for replacement value of my current car, even have it in writing.
but the policy reads actual cash value and the insurer will probably say that value is 18k.
a fight either way I suppose.
11-18-2015, 02:08 PM
#51
Three Wheelin'
I've said this before and don't want to beat a dead horse, but I encourage you seek evidence of one of these classic insurers denying a claim based on the usage restrictions like errands, commuting, etc. It was impossible for me, and I looked thoroughly.
I found hundreds, if not thousands, of examples online of them denying a policy for those reasons, but could not find a singe case of them denying a claim once you have a policy. You would think given how many car forums there are, there would be hundreds of reports of denied claims online.
You'll find examples of denying claims because of fraud, and of the documented exclusions in the policy (clearly called out), and some pretty nasty interrogations of their customers, but no actual reports of being denied a claim at the end of the day.
You'll also find reports of having the policy canceled or not renewed after paying claims as well, if the car was being used not in the spirit of the policy.
I don't have a dog in the fight, just think it's an interesting data point, regardless.
And for the record, I stick to spirit of my collector policy, even if it means the car sits in my locked garage a lot more than I like.
I found hundreds, if not thousands, of examples online of them denying a policy for those reasons, but could not find a singe case of them denying a claim once you have a policy. You would think given how many car forums there are, there would be hundreds of reports of denied claims online.
You'll find examples of denying claims because of fraud, and of the documented exclusions in the policy (clearly called out), and some pretty nasty interrogations of their customers, but no actual reports of being denied a claim at the end of the day.
You'll also find reports of having the policy canceled or not renewed after paying claims as well, if the car was being used not in the spirit of the policy.
I don't have a dog in the fight, just think it's an interesting data point, regardless.
And for the record, I stick to spirit of my collector policy, even if it means the car sits in my locked garage a lot more than I like.
05-17-2017, 07:33 PM
#53
Racer
Maybe it varies depending on location. I have insurance from Leyland West (American Modern), and my policy explicitly states that I can use it for commuting to work two days per week. Any more often than that would make it a daily driver, and violate the terms of the policy.
05-17-2017, 10:59 PM
#54
Rennlist Member
^^Exactly, if one drives daily, then it's not really a collector car, and the daily exposure changes the metrics. My Heacock policy allows 6k miles per year. I pay a bit of a bump for that. Now that I think about it, I should bump back down to the standard, which I think is 4K.