Re: Cheapest liability insurance for my old 1978 Dodge van.

On Fri, 15 Feb 2008 13:33:17 -0600, "Pete C."
<aux3.DOH.4@[EMAIL PROTECTED]
> wrote:

>Mike Romain wrote:
>> 
>> I believe you are 'really' confused by your coverage.
>> 
>> They don't care one way or the other what kind of 'classic' car you
have
>>   because they are 'NOT' insuring 'it'.  They are giving you insurance
>> to cover the 'OTHER' car in case you hit someone.
>> 
>> That is called Liability insurance.
>> 
>> You can go drive into a post and they don't care about the condition of
>> your van, they 'will' pay for a new post though...
>> 
>> To have coverage for 'your' van, you need what is called Collision
>> insurance.  Then your van is covered for damages if 'you' hit
something.
>> 
>> You need an appraisal for your van for 'comprehensive' coverage or
'fire
>> and theft' and for the situation of 'you' getting hit.  Without the
>> appraisal, you get 'book' value for it if hit or stolen or burned or
>> likely less than $500.00.
>> 
>> I know this because I have a 1986 Jeep CJ7.  Book value less than
>> $1000.00, real value over $12,000.00.
>
>Very true. 
>
>On a related note, the property tax you pay on a vehicle will be based
>on the book value as well, and if you have a condition that would lower
>that value, such as high mileage, you can note that to the tax folks and
>save some money there. I did that with my previous vehicle and saved
>like $50 in taxes with no more effort than stopping by the tax office
>for a few minutes.


You may be able to get a reduction in valuation for taxes
based on vehicle condition where you are but, here in GA,
they use the highest NADA valuation for your line of vehicle
regardless of equipment, condition or mileage - keeps the ad
valorem taxes higher that way.

Lugnut