Is Anyone Writing DE Insurance ???
02-29-2008, 09:13 PM
#226
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Well, I'm sure both are required but only sure about filing the claim within 48hrs. I think I assumed the letter needed to accompany the claim. May or may not be that way.
Glad to see that it is not strange since I'm thinking of buying a policy through him.
Glad to see that it is not strange since I'm thinking of buying a policy through him.
02-29-2008, 09:40 PM
#227
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I haven't reviewed the remainder of the policy, nor asked them yet about their definition of an acceptable appraisal. Actually, we have been asked by Ins. Cos. in many cases to give an appraisal of the repalcement cost of a car after it has been crunched.
03-05-2008, 06:23 AM
#229
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Yes, PCA requires it and provides the form. The CI must prepare the statement describing the accident and provide copies to PCA. The PCA form has a place for all pertinent information car/cars, participants, and other information as well a place for the participant to describe what happened including an area for a line drawing. There is an area for the CI to add remarks/information. Generally I took digital pictures and provided them as well.
03-05-2008, 07:42 AM
#230
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Yes, PCA requires it and provides the form. The CI must prepare the statement describing the accident and provide copies to PCA. The PCA form has a place for all pertinent information car/cars, participants, and other information as well a place for the participant to describe what happened including an area for a line drawing. There is an area for the CI to add remarks/information. Generally I took digital pictures and provided them as well.
Thanks Alan
Knowing this is common place makes it easier to buy a policy since I will be able to comply with the requirements w/o laboring to get documentation from the event host.
03-05-2008, 10:03 AM
#231
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03-05-2008, 05:58 PM
#232
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i just signed with wsib back and forth all last week on the phone.they were very helpfull,with all the questions that i had.
first event next week at vir zone 2.peace of mind now.as i hope i will never need it.
first event next week at vir zone 2.peace of mind now.as i hope i will never need it.
03-05-2008, 06:20 PM
#233
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03-05-2008, 10:51 PM
#234
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In most cases, i can have a quote to you within 30 minutes, and our policy can be bound within an hour. I would be happy to answer any questions or concerns you may have.
Thanks,
Anna
Thanks,
Anna
03-06-2008, 06:37 AM
#235
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Anna,
Do you have a limit if I want to do. . . say . . . 40 events this year? Or, is it priced accordingly based on the number of events?
.
Do you have a limit if I want to do. . . say . . . 40 events this year? Or, is it priced accordingly based on the number of events?
.
03-06-2008, 09:48 AM
#237
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Hi George,
Our policy is an annual policy. It has no limit to the number of events in which you can participate.
Thanks,
Anna
Are your premiums based on a 3.5% percentage, and Deductible by the insured for the first 10% of value?
.
Our policy is an annual policy. It has no limit to the number of events in which you can participate.
Thanks,
Anna
Are your premiums based on a 3.5% percentage, and Deductible by the insured for the first 10% of value?
.
03-06-2008, 10:40 AM
#238
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George,
99% of the time, I am going to be below 3.5%. In certain cases, the rate could go as high as 3.5, particularly if some of the exclusions are removed from the policy. However, it is important to note that the carrier isn't going to freely allow excluded items to be "bought back". This would be handled on a case by case, individual basis, depending on circumstances and underwriting.
10% deductible is correct.
Thanks,
Anna
99% of the time, I am going to be below 3.5%. In certain cases, the rate could go as high as 3.5, particularly if some of the exclusions are removed from the policy. However, it is important to note that the carrier isn't going to freely allow excluded items to be "bought back". This would be handled on a case by case, individual basis, depending on circumstances and underwriting.
10% deductible is correct.
Thanks,
Anna
03-06-2008, 11:07 AM
#239
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Anna,
How is value assigned and determined?
Clearly and specifically, how would an insured whose policy is written this year, at say $100,000 , be defined in the event of a claim? Is depreciation considered and if so, how is that calculated on the $100,000 policy?
.
How is value assigned and determined?
Clearly and specifically, how would an insured whose policy is written this year, at say $100,000 , be defined in the event of a claim? Is depreciation considered and if so, how is that calculated on the $100,000 policy?
.
03-06-2008, 01:23 PM
#240
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George,
Our policy is going to pay the lesser of the following:
1) Stated Value
2) Actual Cash Value, or
3) Cost of Repairs
Of course, the deductible would apply to any loss payment.
The stated value and cost of repairs are obvious. However, the "actual cash value" (ACV) is typically defined as "replacement cost, less depreciation". In some states, state legislatures have redefined ACV to mean "market value, less depreciation."
In the event of a total loss, the adjuster would use a number of tools to determine the settlement. The blue-book value, while a tool, obviously cannot be the sole source of determining the value of the car. Any modifications made to the vehicle would have to be considered, and of course, things like low mileage, etc. would be taken into consideration. A car in Georgia may sell for less than the same car would in New York. All of these things would be factored into the determination of the value, in the event of a total loss.
Hope this helps.
Thanks,
Anna
Our policy is going to pay the lesser of the following:
1) Stated Value
2) Actual Cash Value, or
3) Cost of Repairs
Of course, the deductible would apply to any loss payment.
The stated value and cost of repairs are obvious. However, the "actual cash value" (ACV) is typically defined as "replacement cost, less depreciation". In some states, state legislatures have redefined ACV to mean "market value, less depreciation."
In the event of a total loss, the adjuster would use a number of tools to determine the settlement. The blue-book value, while a tool, obviously cannot be the sole source of determining the value of the car. Any modifications made to the vehicle would have to be considered, and of course, things like low mileage, etc. would be taken into consideration. A car in Georgia may sell for less than the same car would in New York. All of these things would be factored into the determination of the value, in the event of a total loss.
Hope this helps.
Thanks,
Anna