Monkeyleg
Member.
If the run-of-the-mill insurance companies are promising replacement value insurance under a standard policy, I'd be wary.
When I was doing a restoration of my Jag E-Type (XKE to you non-motorheads), I had my agent add replacement cost coverage to my policy for the car. Cost me an arm and a leg, but I figured it was worth it.
Well, when my assistant dropped a lightstand onto the hood ("bonnet") and absolutely ruined a mirror-finish paint job and bodywork, I called the agent.
The company said they'd pay $600 to have the damage repaired and repainted by the Usual Suspects Body Shop. This for a show-car paint job, and after paying premiums that were astronomical.
A painter who regularly did show cars quoted $4000.
The insurance company gave me their $600, saying take it or leave it.
I took it. And I left them.
Caveat emptor.
When I was doing a restoration of my Jag E-Type (XKE to you non-motorheads), I had my agent add replacement cost coverage to my policy for the car. Cost me an arm and a leg, but I figured it was worth it.
Well, when my assistant dropped a lightstand onto the hood ("bonnet") and absolutely ruined a mirror-finish paint job and bodywork, I called the agent.
The company said they'd pay $600 to have the damage repaired and repainted by the Usual Suspects Body Shop. This for a show-car paint job, and after paying premiums that were astronomical.
A painter who regularly did show cars quoted $4000.
The insurance company gave me their $600, saying take it or leave it.
I took it. And I left them.
Caveat emptor.
