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102222 Posts in 12071 Topics by 4661 Members
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226  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 17, 2007, 02:41:33 PM
Here is the State Farm Policy. It is agreed value:

6171AK.1 ANTIQUE OR CLASSIC MOTOR VEHICLE

This endorsement is part of your policy.  Except for the changes it makes, all other terms of the policy remain the same and apply to this endorsement.  It is effective at the same time as your policy unless a different effective date is specified by us in writing.

In consideration of the premium charged for your policy, it is agreed that:

1.   COVERAGE UNDER SECTION I - LIABILITY – COVERAGE A AND SECTION II – MEDICAL PAYMENTS – COVERAGE C APPLIES ONLY WHEN YOUR CAR IS USED IN EXHIBITIONS, CLUB ACTIVITIES, PARADES OR OTHER FUNCTIONS OF PUBLIC INTEREST AND OCCASIONALLY FOR PLEASURE AND BUSINESS.


2.   SECTION IV – PHYSICAL DAMAGE COVERAGES

a. Limit of Liability – Comprehensive and Collision Coverages

    This provision is changed to read:

          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 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 its value before it was damaged. 


                          You and we agree that the actual cash value of your car is the             
                          vehicle value shown on the declarations page unless:

1.   your car has been damaged;

2.   parts have been removed from your car; or


3.   your car’s condition has changed due to abuse or neglect

after the vehicle value shown on the declarations page was agreed to and prior to the loss.






                            If any of these events have occurred, the agreed upon actual cash
                            value is the vehicle value shown on the declarations page reduced
                             by the decrease in the value of your car due to such damage, the
                              removal of parts and damage caused by the abuse or neglect.

                              Any deductible amount that applies is then subtracted.

            The cost of repair or replacement is based upon one of the following:

1.   The cost of repair or replacement agreed upon by you and
       us;

2.   a competitive bid approved by us; or

3.    an estimate written based upon the prevailing competitive price,  The prevailing competitive price means prices charged by a majority of the repair market in the area where the car is to be repaired as determined by a survey made by us.  If you ask, we will identify some facilities that will perform the repairs at the prevailing competitive price.  We will include in the estimate parts sufficient to restore the vehicle to the pre-loss condition.  Such parts may include either parts furnished by the vehicle’s manufacturer or parts from other sources including non-original equipment manufacturers.

Any deductible amount that applies is then subtracted.

                b.  Settlement of Loss – Comprehensive and  Collision Coverages
                     
                      This provision is changed to read:

                               We have the right to settle a loss with you or the owner of the
                                property in one of the following ways:
           
1.   pay the agreed upon actual cash value of the property as
determined above in exchange for the damaged property.
If the owner keeps the damaged property, we will deduct its value after the loss from our payment.  The damaged property cannot be abandoned to us;
227  Camaro Research Group Discussion / Decoding/Numbers / Re: Wheel decoding? on: March 15, 2007, 11:30:34 AM
My pictures are to large and won't let me post one. If someone know how to post let me know.
228  Camaro Research Group Discussion / Decoding/Numbers / Re: Wheel decoding? on: March 15, 2007, 06:51:39 AM
Those are wheels from 1989. GM was still selling YJ coded wheels into the reall early 90's. I know, I bought a set in 89.

that would be K 1 89  for 1989.

Jonesy....I thought that was the way they might decode. I know a previous owner of the car added the rally wheels at about that time. Car originally came with XT wheels. I still have original spare. I will post pics later so everyone can see.
229  Camaro Research Group Discussion / Decoding/Numbers / Re: Wheel decoding? on: March 14, 2007, 08:18:57 PM
Jerry.......... I was thnking the 18 was the day of the month and the 5 was the month. Wasn't sure what the 8 and 9 meant. I knew one of them was the year.
230  Camaro Research Group Discussion / Decoding/Numbers / Wheel decoding? on: March 14, 2007, 12:09:33 PM
My YJ wheels seem to have an extra number. By the valve stem they are as follows. K189  5 ( valve stem ) 18 YJ. Seems to be and extra number from other wheels I've seen. How do these decode?
231  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 14, 2007, 12:01:46 PM
By the way guys I understand your concern and it is appreciated. I just want people to understand my point also.....thanks
232  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 14, 2007, 12:00:11 PM
OK...I finally got the scoop from my agent. Here is where everyone is getting confused. He said that when they write the collector insurance it is with a standard policy, then(heres the important part) they issue an endorsement,6171AK.1, which supercedes the standard policy. That is where you get the agreed value. Basically he said it states that as long as the car is not altered from original condition it was in when insured ( like missing parts, let it rust and so on) you get the agreed value of your policy. He spoke with the adjusters on this also and they confirmed. He has a copy of it for me so as soon as I get it I will post it. I think this is why everyone is confused. They are not reading the endorsement 6171AK.1.  Maybe some agents are not aware of this supplement and that is where we see the problems.
233  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 14, 2007, 08:50:10 AM
I spoke to my SF agent again. He said the only time I do not get my agreed value is when the car can be repaired for less than my agreed value. If car is stolen or total loss I will get the agreed value. He is getting me a copy of policy and as soon as I pick up up I will scan it and post it.
234  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 13, 2007, 08:31:18 PM
My policy from State Farm has no depreciation....I don't know what SF did to tick you guys off but I'm telling you like it is. The agreed value is right on the policy. My agent also told me to update the value as the market changes. There is nothing in my policy about Actual Cash Value. Maybe you guys just don't have an agent that knows what he's doing. Mine is a true agreed value policy.....end of story!
235  Camaro Research Group Discussion / Decoding/Numbers / Tire decoding? on: March 13, 2007, 03:19:19 PM
Can someone decode these tires. They are Goodyear polyglas. CYLD85KL0706
236  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 13, 2007, 01:02:14 PM
Another thing my SF agent pointed out is that there would be no reason to put a value on the policy if it weren't agreed. They would just pay book like a regular policy. You can only put a value on collector cars. I insured a 94 ZR1 with them and put an agreed value on it. It came back and they said the car was not old enough plus the fact they were treating it like a regullar Corvette. My agent contacted the underwriter and told them it was a limited run car then they OK'd it once they realized what it was. This whole thing with agreed not being offered by regular insurance companies was started by the specialty companies cause they have a hard time competeing with the big guys.
237  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 13, 2007, 12:17:39 PM
I just spoke with my State Farm agent. He told me that the only type they write is "agreed" on collector cars. I asked him if my car were totaled or stolen what would I get. He said I would get the amount I had it insured for. The only time they pay less is if it can be repaired. He even spoke to the underwriters on this issue to confirm. He said that is why they take pictures of the car to verify the condition.
238  Camaro Research Group Discussion / General Discussion / Re: X mark on rear bulkhead on: March 12, 2007, 07:54:32 PM
I owned an 11D car SS350 non x code. It had an X5 behind the rear seat. I tried to post a pic but can't get it to show up.
239  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 12, 2007, 04:09:17 PM
Click......I will question my agent on all this, however he is a car collector himself so I'm thinking he knows what's going on. I'll keep you posted as to what I find out.
240  Camaro Research Group Discussion / General Discussion / Re: Car Insurance on: March 11, 2007, 06:18:41 PM
I have State Farm and they do have agreed value. I have my 69 SS RS insured for $55K with them. It cost $19.00 a month with $250 deductable collision and $100 deductable on comp. and all the high limits on liability 100/300K. Same insurance on my 94 ZR1 with $35K and it is $17.00 a month. It shows right on my policy the insured value of the car. All I had to do was take pictures of the cars and give to agent. No appraisal at all.
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