Ferrari Mailing List: Re: 308 qv prices in latest Cavalino

[Peter Pless (ferrarilist]

I've heard that underinsuring a car is asking for trouble. The insurance
company does in fact see that as self insuring. In other words, if you
insure the car for 50% of the value and you damage your car, they will only
pay 50% of the repair. At least, that's the deal in Australia. YMMV of
course.

Any chance the situation is the same everywhere?

-----Original Message-----
From: George [mailto:ygpz4re [at] hotmail.com] 
Sent: Wednesday, 13 April 2016 9:44 PM
To: Peter Pless
Cc: The FerrariList
Subject: Re: [Ferrari] 308 qv prices in latest Cavalino

There's another aspect of "throwing money away"....

If you want to pay your insurance company to assume every nickel of risk,
then by all means, adjust your coverage.  Then wait for the jacked up bill.

But, if your car is a low mileage per year car, if you're a careful driver
w/ a good driving record, and if you're careful to not put your car in
harm's way, then you can consider assuming some of that risk yourself and
saving (a lot!) on your insurance bill.  To put it another way, you could
spend a ton on full value coverage - *AND NEVER USE IT*.  But if you're
willing to accept a lower payout in the unlikely event that the car gets
totalled, you can save a bundle.

Example:  my Dad has a car which probably has a solid market value of
$120-130K, but he insures it for about 50K (agreed value).  He takes it on
pleasure drives, to shows and club events, etc.  The car rarely sees an
interstate highway - or interstate travel, for that matter.  His insurance
bill is probably cut in half by doing this.  And in the 22 years he's owned
the car, he's never needed to make a claim.

It all depends on where one wishes to spend ones money.  ;-)

George P.

[p.s. - shameless plug - Dad's car is a '65 Jaguar E-Type FHC, and is for
sale.  If anyone is interested in such a car, please contact me off-list.
It's in great condition and is exceptionally well maintained - in 22 years,
the car's never had a failure.  Thanks.]

________________________________________


Not quite sure what you mean by "lagging behind".

Sent from AOL Mobile Mail

On Tuesday, April 12, 2016, Erik Nielsen <judge4re [at] gmail.com> wrote:

Only if you like throwing money away.

The only thing lagging further behind Cavallino is North Korea's economy...

Sent from my iPad


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