theiceman

If any of you are club members you may be familiar with LANT insurance offering silver wheels insurance for cars 15 years and older, I heard they loosened up the restrictions about driving. Any of you guys are doing this or know of any draw backs ?
I think they were quoting at 500.00 per year or something

Alon

No but that's good news for me as I prepare to beging hunting for the right car/parts for my early 911 project.

theiceman

I'll let you know if i find out anything.

imcarthur

Sorry to jump in so late . . .

When I asked last year, I was told: No work commuting & no shopping & no vacations (without a $100 temp rider). Other than that, they don't care other than the restrictions on the driver: 10 year, other car etc.

I've been with them for 1 1/2 years.

Ian

theedge

So insuring the car makes it largely useless. What are you allowed to do for that $500 a year? Back it out to the driveway and wash it?

sjanes

Silver wheels is for collector or hobbie cars. So for some, yeah it is to back it out into the driveway and wash it. For others, it's to drive it to the track

imcarthur

Yes, Silver Wheels is not meant for a daily driver. You have to have a daily to qualify anyway. So, they don't allow commuting. Sitting on the 401 at 6 pm is not much fun in a 911 anyway. And they don't want it getting whacked by runaway shopping carts (or runaway soccer moms in SUVs) in mall parking lots. Just pleasure driving.

3500 miles (not kms) of pleasure for me last year.

Ian

theiceman

Sound exactly what I need.
I have my company Caravan , my wife has her Taurus and I have a 95 Audi I drive around on weekends just because it is way more fun than a Caravan. I would only use my 911 for fun runs anyway so it sounds perfect. Do i need to get an apprasal or anything ?

imcarthur

ice

Yes, you need an appraisal. I used Bruce Farrow - PCA-UCR - who lives in Pickering. He appraised mine for $35K & insurance is $600 or so per year.

See Lant

Ian

theiceman

Thanks Ian . Belive it or not I wouldn't apraise it for much anyway. If possible do it for liability only. The reality is my car is old " 78" and if I did crash it I wouldn't make a claim anyway given I payed so little for it . I admit I am not emotionally atached to my car, it is simple economics. If someone appraised it for 5 G I would be happy !

randyrap

Hi Ice. My 83 SC was appraised under $13,000 and my Silver wheels is around $280 a year. People cannot beleive this when I tell them.
Thanks ........ Randy

theiceman

Hi Randy .. Sounds about right , 280 year sounds great, but I have a question , given we are on a "public forum" decline to answer if you see fit, lets say you let off the guess into a corner and wrote off your car, would you make a claim for this car, knowing you would get SCREWED by the insurance company for the next 7 years or so ? my other question is that with your apraisal are you "guarenteed" your appraisal value if you right off the car? Th reason I used the scenario I did was that it would be a single vehicle incident . Of course if you plowed into somebody ( sorry , bad choice of words ) . there would be other parties involved and it would be an automatic claim anyway. The other scenario is when some one hits you , you would hope fault is assigned to them and your rates would not go up. I am a little unsure about how no fault works. I do know your insurance fixes yours and there insurance fixes theres. But not sure how the rates are affected.

i think I will definitely give them a call, but welcome any opinions. The other question is how long is the appraisal good for . Bruce is good but if you have to keep going to him every 2 years at 200+ a pop that HAS to be factored in.

ice

randyrap

Hi Ice.
I'm not 100% sure how the insurance rules work either. If I were to seriously damage my car, I would make a claim regardless of who was at fault. Why bother having insurance if you are not going to use it? It is my understanding that the appraised value is what one is guaranteed to get if the car is written off. The only time you would need another appraisal is if the car had some restoration or upgrades and the value went up.
Thanks ..................... Randy

edi1

hi
my 85 928s was insured by atto insurance appraisal $18 g
hit somebody was not my fault. cost to fix more than appraisal

so they paid me $ 18 g plus tax.

peter

theiceman

Okay so that answer that question . the appraised value is the max they pay out, as to why have insurance ? to protect me from Liability is all. That is why i take collision off my cars after 5 years, most cars aren't worth squat after that anyway ( in the eyes of the insurance company anyway. ) . I guess you are right about a major impact or rite - off . but anything les than that I am not sure. But I must admit I hate insurance companies with a passion, all the risk is on our part, they want guarentees.