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

[John Ashburne (jashburne]

Having an agreed value much lower than market is like having a very high 
deductible or, more accurately, being partially self insured. It's all a matter 
of the cost of the insurance, the risk of loss and whether the loss would be 
meaningful to you. 

The question becomes one of, if you are willing and able to take the risk of 
loss of, say, 50% of the value of the car to save the additional insurance 
premium, why not save 100% of the premium and go fully self insured and just 
pay for the usual liability insurance?

Naturally the line is different for each individual. As an example, when I was 
racing vintage sports cars, there is no insurance for anything that happens on 
the track. Since that is the one place most likely to result in a loss, the 
feeling is that one should not go out on the track unless one is willing to 
bear the cost of balling it up into a total loss. Worrying about that is no way 
to enjoy yourself on the track. 

John

Sent from my ATT Bell Rotary Dial Phone

> On Apr 13, 2016, at 7:43 AM, George <ygpz4re [at] hotmail.com> wrote:
> 
> 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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