Joe,
I had a similar surprise waiting for me when I bought my truck. A friend has
a deuce insured with The Saint Paul Companies, through a local broker. I
contacted them to explain that I wanted to insure a M816 wrecker that I had
just purchased. They wanted pictures, but I didn't have any, since it was 850
miles away. They told me that they could only insure it once it was in my
possession, and they had been able to see it. I also needed to have it
appraised before it could be insured.
I had to go through my regular car insurance company (it took three weeks of
arguing with them before they would even give me the name of a company who
would write a short-term policy) and I had to insure it as a commercial
wrecker.
The policy cost $5400.00 per year. This policy allowed me to drive the truck
from Ohio to Minnesota. By the time I had purchased the policy, driven the
truck home, and canceled the policy, it cost me about $400.00.
It seems that the experience that your customer had is fairly normal. I'm
glad that I had the foresight to check with my insurance company. Like most
policies, mine covers me when I am driving any vehicle that I am normally
licensed to drive...except if I own the vehicle. If I own it, it had better
be listed on my policy. I owned the wrecker, but it couldn't be covered on my
standard automotive policy. It was too big. If I had been involved in an
accident while bringing it back from Ohio, I would not have been covered by
my regular insurance. That's why I spent the extra money on the commercial
policy. Better safe than sorry.
At first, I was a little put out that the insurance company wanted an
appraisal of my new truck. Then I realized that this would also set my mind
at ease over the question of whether I had paid too much for it. Also, it
would provide me with an expert opinion as to the condition of the vehicle.
I'm fortunate to be acquainted with Tom Berndt, the author of The Standard
Catalog of US Military Vehicles. He did the appraisal and left me with the
feeling that I paid a reasonable price for a vehicle in good condition. I
suspect that many insurance companies will require appraisals, but certainly
not all of them.
I also suspect that you are right about insurance companies requiring that
collector vehicles be stored in a secure area. Not necessarily indoors, but
definitely secure. I know owners who park their HMVs outdoors, but inside of
a fence. Commercial storage areas and other secure sites are often available
with space to park larger vehicles out of doors. Something that would have
to be discussed with the agent.
My .02 worth.
John
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