Ferrari Mailing List: Re: Insurance--cheap is not necessarily better

[Doug and Terri Anderson (dnt]

Good points Robert.
As an old Dept of Insurance Market Conduct examiner - my meager advice is 
ALWAYS make sure your company is licensed to do business in your state.  As 
in Kalifornia, it is NOT against the law to sell insurance, any type, if the 
company is not licensed in Kalifornia.  So your state likewise may not 
prevent off-shore companies from selling in your state.  Why?  If you EVER 
have a tiff, who are you gonna sue?  Gotta an off-shore company?  Tough buns 
ace.
I haven't seen it all, but cheap insurance blues is justa lurking around th' 
corner.
DOUG
Have had USAA since 1973 and Haggerty.
Oh - for your home?  Don't forget Building Code Upgrade coverage. 
Especially if you have an early Cliff May, Joseph Eichler or Frank Lloyd 
Wright home.  heh heh

----- Original Message ----- 
From: "Robert Rehkopf" <CaptRehkopf [at] comcast.net>
To: "DOUG" <dnt [at] dock.net>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Sent: Wednesday, September 16, 2009 5:32 AM
Subject: [Ferrari] Insurance--cheap is not necessarily better


> I'm sure the List has had this discussion before but in reading today's
> posts about finding cheaper insurance it forced me to probably re-remind
> everyone that insurance i.e. insurance companies are only good if they
> 'stand with you' i.e. pay your claim! Matt Boyd's post was more to the
> point, he had a claim they paid, he was satisfied, they didn't cancel him 
> at
> the next renewal period, etc.
>
> I have USAA for everything except my new BMW R1100S motorcycle because 
> USAA
> stopped insuring any additional motorcycles not currently insured. I 
> shopped
> around for insurance for the first time in my adult life, cost is one
> consideration but there are more important considerations when selecting 
> an
> insurance company. I didn't go with the cheapest but I went with the
> company/Dairyland I thought, from talking with others that would pay any
> claim without hassle and not cancel me and not raise my rate too 
> drastically
> if I had an accident.
>
> I learned the insurance lesson many years ago, from an attorney, ugh! We
> were selecting a contractor for a construction project and bonding came 
> up,
> she said, she didn't care what company the contractors bond was with as 
> long
> as it had a certain 'rating' , i.e. had the resources and reputation to 
> pay
> claims. In these economic times this is more important than ever, there 
> are
> fly by night bonding companies, etc. popping up charging less money but
> without any ability or intent to pay off. Be careful if the deals too good
> as they say. My2cents.
>
> 1988.5 328 GTS Red/Tan still looking for a good home.
>
> Robert
>
>
>
>
>
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