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Re: Insurance claim - totalled 93 Commemorative Posted by LIFETIMEOFSAABS [Email]  (#2) [Profile/Gallery]
(more from LIFETIMEOFSAABS) on Tue, 1 May 2007 13:21:50
In Reply to: Insurance claim - totalled 93 Commemorative, Chad Adams, Tue, 1 May 2007 12:25:13 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I feel terrible having read about your situation...but unfortunately, the values an insurance company will pay reflect a depreciated condition - and not market value. Example: A fellow with a standard auto policy on a rare 1950's Corvette would only get a few hundred from an insurance company - if the car was not otherwise insured on an agreed value policy.
I looked up a 1993 Turbo 3dr. on KBB.com. they do not list the commemorative - but the PHOTO they show to represent it is of a Commemorative edition car! In any case, they are showing a value of close to $4,500. So that may help argue your point since it is a published value.
I don't know if this will help if you replace the car - or anyone else reading this post - but it is important to have an agreed value policy in place if you consider the car a collectible. (The downside is that you need to prove to the insurance company that there is someting special about the car that makes it collectible.) Many Saab models are limited production and would qualify...especially the Commemoratives, Special and numbered Editions, SPGs, etc.
FWIW, I have my 93CE insured for $13,000. It is on an agreed value collector car policy....so I pay a premium based on its collectible market value.
The car is not driven as daily transportation - in fact the use is quite restricted... not for work/commute travel, errands, shopping, emergency use, etc. Allowed travel includes recreational uses such as to/from shows, repair shops, pleasure rides. That's it.. and a limit of 2,500 miles a year.
It is very unfortunate.. but I do know of a few CEs around for sale. Check out SaabCE.com and list your car in the registry as RIP - unless you plan on rebuilding it. If you part out the car - let someone know. There are parts unique to the CE on the car.
Good luck!!!
, Tue, 1 May 2007 19:01:36, Tue, 1 May 2007 13:21:50 <-- Viewing This Message
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