Re: restoration insurance
[Re: IMGTX]
#3059032
07/13/22 08:55 PM
07/13/22 08:55 PM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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I had a friend who took his Chevelle in for exhaust.
Car got stolen from the exhaust shop with pretty much all the documentation of parts & labor in the trunk. Why it was in there, I do not know.
Insurance for the shop didn't want to pay so he went to court and won a judgement of 50K for the car. They appealed and he lost. In the end he got nothing, no car no money.
I would carry the extra insurance if you already have 30k in the car. Just to be safe. There are some details missing from that story he told you. I don't doubt it was stolen, or that he ended up with nothing, but if he left his care in the care, custody, and control of a shop that had valid coverage with sufficient limits, they have to pay. It sounds like there may have been a coverage problem with the shop's insurance.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: restoration insurance
[Re: TJP]
#3059067
07/14/22 12:16 AM
07/14/22 12:16 AM
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Joined: Jan 2003
Posts: 7,521 Minnesota
Hemi_Joel
master
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master
Joined: Jan 2003
Posts: 7,521
Minnesota
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The reason we should not rely on the shop keepers insurance is because it is a liability policy that covers HIS liability. He COULD be considered liable for thing that happen to your car while in his care like fire, theft, falling off a hoist, something falls on it, etc. But it doesn't mean he WILL be. Problems are that liability insurance only pays for actual cash value, not replacement cost. And his insurance company doesn't give a hoot about you. They can get some hired gun appraiser to put a super low actual cash value on your car because it is apart. Or they can flat out deny that it is the shops fault. He could have some cheap class C rated company, most of whose modus operandi is to deny, deny, deny, and only pay if they are forced to. Your only recourse is to sue them.
[img]http://i.imgur.com/boeexFms.jpg[/img]31 Plymouth Coupe, 392 Hemi, T56 magnum RS23J71 RS27J77 RP23J71 RO23J71 WM21J8A I don't regret the things I've done. I only regret the things I didn't do. "Wise men talk because they have something to say; fools because they have to say something. ~ Plato"
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Re: restoration insurance
[Re: IMGTX]
#3059113
07/14/22 08:19 AM
07/14/22 08:19 AM
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Joined: Jun 2019
Posts: 744 Almost Heaven
Bob Stinson
OP
super stock
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OP
super stock
Joined: Jun 2019
Posts: 744
Almost Heaven
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Restoration horror stories are why I never sent the car away to be restored - I wanted to be able to pop in unannounced and keep track of them.
69 road runner A12 ex-racer 71 Duster w/ a 400
Shiny paint causes stress.
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Re: restoration insurance
[Re: Hemi_Joel]
#3059115
07/14/22 08:23 AM
07/14/22 08:23 AM
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Joined: Jun 2019
Posts: 744 Almost Heaven
Bob Stinson
OP
super stock
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OP
super stock
Joined: Jun 2019
Posts: 744
Almost Heaven
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The reason we should not rely on the shop keepers insurance is because it is a liability policy that covers HIS liability. He COULD be considered liable for thing that happen to your car while in his care like fire, theft, falling off a hoist, something falls on it, etc. But it doesn't mean he WILL be. Problems are that liability insurance only pays for actual cash value, not replacement cost. And his insurance company doesn't give a hoot about you. They can get some hired gun appraiser to put a super low actual cash value on your car because it is apart. Or they can flat out deny that it is the shops fault. He could have some cheap class C rated company, most of whose modus operandi is to deny, deny, deny, and only pay if they are forced to. Your only recourse is to sue them. After an insurance rep quoted me chapter and verse out of the WV insurance codes, and said if I don't like it I should lobby to have the laws changed, I decided that sueing an insurance company over car damages is a fool's errand. They made it clear right up front that I had no chance of winning. So, restoration insurance will be purchased with a stated value on the car that increases over time. That way if something happens I get paid, and my insurance and the shop's insurance can fight it out.
69 road runner A12 ex-racer 71 Duster w/ a 400
Shiny paint causes stress.
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Re: restoration insurance
[Re: Bob Stinson]
#3059147
07/14/22 10:39 AM
07/14/22 10:39 AM
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Joined: Jan 2003
Posts: 1,908 Nebraska
4406bbl
top fuel
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top fuel
Joined: Jan 2003
Posts: 1,908
Nebraska
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The reason we should not rely on the shop keepers insurance is because it is a liability policy that covers HIS liability. He COULD be considered liable for thing that happen to your car while in his care like fire, theft, falling off a hoist, something falls on it, etc. But it doesn't mean he WILL be. Problems are that liability insurance only pays for actual cash value, not replacement cost. And his insurance company doesn't give a hoot about you. They can get some hired gun appraiser to put a super low actual cash value on your car because it is apart. Or they can flat out deny that it is the shops fault. He could have some cheap class C rated company, most of whose modus operandi is to deny, deny, deny, and only pay if they are forced to. Your only recourse is to sue them. After an insurance rep quoted me chapter and verse out of the WV insurance codes, and said if I don't like it I should lobby to have the laws changed, I decided that sueing an insurance company over car damages is a fool's errand. They made it clear right up front that I had no chance of winning. So, restoration insurance will be purchased with a stated value on the car that increases over time. That way if something happens I get paid, and my insurance and the shop's insurance can fight it out. Great choice, the insurance company has better lawyers than you could ever afford, other things to watch for so you do not get screwed. A shop owner who will not respond to e-mails or texts about your car or process. He wants you to have no evidence if it all goes wrong, record all calls or face to face meetings if that starts. Absolutely show up unannounced, if they make you schedule visits, do not go there. Shop owners that talk about other cars owners in their shop to you in a negative way.
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