Insurance

[Bill M.]

Two weeks ago my 2019 Silverado was destroyed by a kid who blew a red light. The hardtop for my 65 was in the bed under the bed cover and that was also destroyed. A week later I find out that my 10 month old truck had depreciated $10,000 and since the kid had minimal insurance good luck on getting anything for the hard top. Since I have never had an serious accident and not had a stolen vehicle in 30 years I completely forgot about direct replacement insurance. I now have it on the new truck $104 per year for 3 years. Hope this helps others.

[Frank D.]

Re: Insurance

I would still check with my classic car insurance, you may find there is some provision for covering the 65 hardtop....if it was there for some hobby-relevant reason. That would be after your deductible though... I see that as no different than some mishap occurring on your 65 if it were being trailered. But I'm not an insurance agent....

In central Florida, the rate of uninsured driver's is 27% - highest in the nation. A ton of those don't even have drivers' licenses.

[Bill M.]

Re: Insurance

I thought about that but i think i will save my classic insurance for a real accident if it ever happens. I was told that New Yuk allows such low coverage so our Illegals can get insurance.

[Frank D.]

Re: Insurance

I thought about that but i think i will save my classic insurance for a real accident if it ever happens. I was told that New Yuk allows such low coverage so our Illegals can get insurance.

Been there done that - big time.

The only thing you'll be "saving" is your classic insurer ducking a payout for a service they've been billing you for every year. But its your call..

[Terry D.]

Re: Insurance

if you have full coverage than you have underinsured motorist which means they will pay whatever it costd and then go after the other insurance company, just went thru this. They should also pay for hardtop.

[Mark F.]

Re: Insurance

Bill,

Here's hoping you were not injured in this accident!

Good luck with the next steps, too.

[Bill M.]

Re: Insurance

I got what the insurance said the truck was worth. Which was above the 25K that the other drivers policy covered. They will not pay replacement cost unless you have replacement cost insurance. Argued that with Allstate. Mark thanks no one hurt.

[Gary C.]

Re: Insurance

Bill,

How about filing a "small claims court" claim against the other insurance for the hardtop?

Gary
....

[Bill M.]

Re: Insurance

My wife works for a Country Lawyer he said after suing and winning i will have a nice piece of paper with some numbers on it to hang on my wall. If the other party has no money you will never collect. On another note i told all of my kids who own homes to be sure they had plenty of liability coverage in case they ever in involved in an accident.

[Gary C.]

Re: Insurance

Bill,

Don't know about where you live, but in Texas it doesn't cost much to file a small claims court claim.

BTW, everyone should carry "umbrella liability" insurance, which generally is less expensive that automobile liability coverage.

Gary
....

[Bill M.]

Re: Insurance

Gary
Small claims costs almost nothing in New York I just feel it is not worth the time an effort when the end result will be you won but now try and collect. Yes have umbrella policy on home but if I am in an auto related situation I would rather leave the damage in that basket. Not sure if children have umbrella yet. One does have a mean cat.
Bill

[Tom B.]

Re: Insurance

Your classic car insurance should cover spare parts and components of your insured car that are removed from it for storage or restoration. I know that is part of my Haggerty policy. With restored hardtops running in the $4500.00 plus range I'd think that would be enough to file a claim for if you can't recover your loss from the liable party's company.

Tom

[Frank D.]

Re: Insurance

Your classic car insurance should cover spare parts and components of your insured car that are removed from it for storage or restoration. I know that is part of my Haggerty policy. With restored hardtops running in the $4500.00 plus range I'd think that would be enough to file a claim for if you can't recover your loss from the liable party's company.

Tom

That was the point of my post above, I think he's leaving money on the table not filing for the 65 hardtop - but again its his choice....

As to chasing people with little to no insurance and no assets through court, what the OP's advisor (county lawyer pal) told him above is exactly what my lawyer told me. Its fruitless....

[Bill M.]

Re: Insurance

Maybe Adam NCM is reading this. Thanks everyone!!

[Dick W.]

Re: Insurance

Gary
Small claims costs almost nothing in New York I just feel it is not worth the time an effort when the end result will be you won but now try and collect. Yes have umbrella policy on home but if I am in an auto related situation I would rather leave the damage in that basket. Not sure if children have umbrella yet. One does have a mean cat.
Bill

Most likely if you win, you will get a judgement. You can take that judgement and $5.00 and maybe get a cup of coffee. I have judgements against three different people, one of them is over 40 years old. Have kept them renewed as required. I know I will never collect any of them but the satisfaction for me is they will never be able to sell their homes or get anything major on credit until they are settled.