7961Re: Force market value for insurance claim
- Mar 3, 2012I've also had some difficulty when insuring my 1995 S-10. At first Gieco would only insure my S-10 as a gasoline vehicle, then after two years, and during a renewal follow up attempted to cancelled me because it was a highly modified truck. Eventually we agreed on $8K in coverage although I had wanted $15K. During the first two years it was only covered for about $3K. It seems, only new electric vehicles can easily be covered for their market value. During this situation I researched probably 8 different insurance companies and non would accept my electric vehicle as a daily driver. This was a big disappointment, and as Gieco indicated...they would not have insured me if it were not for their earlier mistake of providing insurance to me for the previous two years.That was a year ago, perhaps now things are better. Thanks for listening.
--- In firstname.lastname@example.org, Charles Bliss <cbliss@...> wrote:
> ... or like one of my friends who's Porsche 914 was declared 'totaled'
> until he had the insurance company do a formal assessment which showed
> it valued up due to it being Electric and a classic. Assessed at $47k,
> the insurance company paid for full repair.
> On 3/2/2012 12:50 PM, Ed Garcia wrote:
> > Although I do not know the specifics of Mike's case, I think calling
> > the insurance company a "rip off" might be a bit harsh. In their eyes,
> > we are trying to justify an $8000 valuation for a 97 Geo Metro. You
> > have to expect some push-back from them. They need to be educated.
> > This is why I always insist calling my Force a Solectria, not Geo or
> > Chevy, for insurance and registration purposes. It is like valuating a
> > Tesla as a Lotus.
> > Ed
> > _,_._,___
> [Non-text portions of this message have been removed]
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