Update on Car Insurance and coverages

[BobT-47P15]

Don J.......I think when the body shop reduced their cost to repair to the lower figure.........then your car simply got fixed

and the bill was for that amount.  You had to pay your policy deductible (whatever it was).....but the title should not be

affected at all in this case as the 12,500 was less than 70 percent.   Whatever things you did on your own, like a

different fender and getting stainless fixed, added to your outlay, but did not influence the claim one way or another. 

(Of course......had the body shop purchased that fender and fixed that trim......I'm sure their bill would have been

higher)   I does get confusing......but the bottom line is..........your car got fixed and it shouldn't bother your title.

 

My best estimate of the situation. 

 

I see the other point too..........he's saying a person needs to increase their overall coverage amount for stated value so

70 percent will turn out to be what you consider actual value of your car. 

 

A person might want to do a little price/value research every couple years using something like

the Old Cars Value Guide or even the N.A.D.A. antique car section to see what these places feel

your car is worth.  These figures are often based on auction results.  I agree that simply valueing

your car at what you paid, or what you have in it is likely not enough coverage if something really

happens to it.  Most "antique auto" policies as such are not as expensive as a policy on your

everyday regular vehicle.  So paying for higher coverage shouldn't break the bank.   

Edited February 11, 2013 by BobT-47P15

[Don Jordan]

If I hear anymore on the title I will keep you posted.