Insurance

[John H.]

Re: Insurance

The limit of our liability for loss to property or any part of it is the lower of:

1. the actual cash value; or
2. the cost of the repair or replacement. The cost of repair or replacement does not include any reduction in the value of the property after it has been repaired, as compared to it value before it was damaged.

Another sucker phrase. Although they've agreed that the "actual cash value" is what's shown on the declarations page, they still have the option of "the cost of replacement" if they feel they can replace the car with a similar one for less than the amount on the declaration page.

REAL "agreed value" coverage (like Hagerty) doesn't give the insurer secondary payout options like that; in the event of a total loss, they just send you a check for the "agreed" amount, period.

[Charles F.]

Re: Insurance

We have invited Hagerty Insurance to set up a booth at the Speedway Regional. It is my understanding that they will give NCRS a discount. I think it is 5% but hopefully Jeff Cook or some NCRS Board Members can get it moved to 10% with our potential volume. I have had excellent service from them. Had Grundy for one year with nothing but headaches.

Jimmy:

I have Hagarty for my 68 coupe, which is in Massachusetts. I just spoke to them to renew my insurance and asked for the NCRS discount. I was told that the computer was not showing any discount. The Hagarty employee speculated that either it doesn't exist yet or doesn't apply in Massachusetts (a highly regulated state regarding what insurers can and can not offer). Any insight ?

Thanks.

Chuck Faillace