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TR2/3/3A Insuring the TR3

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Thanks Tom, The insurer stated that I will receive, "Agreed Value Coverage, which protects the full-insured value of your collector vehicle". They have been working with USAA for over 20 years. I haven't bought yet though, because I have a couple of questions for them.

Dick
 
I tried ACI through USAA many years ago. There were many restrictions. I finally called USAA back and said they must, surely, offer coverage for a daily driven classic. They then insured the '66 Vette, that was later totaled. They paid up, no problem.

That said...2 years ago I got hail damage on 2 different cars, one with Farmers and the other with USAA. Farmers showed up and paid immediately. USAA wanted me to take the car to a shop with a 6 week backlog for estimates, later sent a drunk to my house who couldn't walk straight at 10AM, cut a check that they stopped payment on, and then low balled the estimate by 1/3 the actual costs. It took 6 months for them to pay up

USAA used to be like family...I have been on and off with them for 34 years. They are now awful to deal with.

Ask me about my slab leak I had with USAA some time...traumatic would be the best term for dealing with them. I can think of no other company that started better and then sank to the bottom faster than USAA. I still have 4 cars with them,because they are cheaper...but I cringe thinking about dealing with them!

By the way, I have never used agreed value or declared value when insuring classics. I take a lot of digital pics and pick up a copy of the CPI for proof of value. I have never had an issue with valuing the cars when a claim was needed.
 
I've had ACI since I owned my TR3 and very happy. Never had any issues with USAA either (knocking on wood right now).
 
Bill - have you ever filed a claim? That's where the problems usually arise.

Great looking TR by the way!
Tom in NE Connecticut
 
The other major point is to keep up with what is the market price of your car,and to insure it for at least that.
I asked a good friend a few years ago how much he carried on his MGA. He said 19k$ ,and I said let me write you a check
for it right now.He was shocked and said it was not for sale.but I said it was going to be sold for just that,the next time
some uninsured idiot blew a stop sign.
If you have a nicely restored Tr3 I would suggest 28 to 34k as a real life ball park figure.Concourse cars add 30% to that.
Insure at lower figures at your own peril,there are herds of texting idiots who have little or no insurance at all.....
MD(mad dog)
 
Thankfully, not yet (hopefully never!).

It's hard to gauge the market - although my car is in pretty good condition, it will never be concours. If I was to wreck it, I should get back what I have into the car....but it seems the value of the TR3's seem to have increased by about $3 - 5K in the last couple of years (based on what is available on eBay and Hemmings).
 
My thanks to all that posted on this thread. It was extremely helpful.
Much appreciated.
Pat
 
BillyB62 said:
Thankfully, not yet (hopefully never!).

It's hard to gauge the market - although my car is in pretty good condition, it will never be concours. If I was to wreck it, I should get back what I have into the car....but it seems the value of the TR3's seem to have increased by about $3 - 5K in the last couple of years (based on what is available on eBay and Hemmings).
Click to expand...

Just cleaned up after laughing so hard I blew coffee out of my nose! I never have trouble with USAA when I am giving them money either!!

Bill, you also point out one of the catches with using a "declared value" for your insurance. That is, you have to update the value to keep up with increasing values for your car. If you forget for a couple years, it could be significant in a claim.
 
John,

Glad I could make your day :-D

I read back through my responses and see now how ridiculous it sounds. My point was I've had USAA for nearly 30 years and they've always been a pleasure to work with - and even when I've made claims, they've been quick and easy to deal with. Maybe I'm being naive, but in my opinion, if they partner with/recommend a company, I see it as a direct reflection USAA if the ACI fails with their customer service. This is why I chose ACI and recommended to my best friend when he was seeking an insurance company for his '72 Olds (I know, can't drag him over from the dark side).
 
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