Quote:
Originally Posted by DougD
I hope you never have to use your Cobra insurance. Without an agreed value policy, you will be nearly defenseless. Leaving the value determination to the company, after the fact, is simply assuring yourself that there will be a fight, and that you will be paying for it. Better line up your attorney now, and start collecting similar sales info. Good luck finding Cobras just like yours for comparables. A FFR is the same as an ERA, isn't it? A Kirkham looks just like a CSX. Same values, right? Oh, boy, are you going to be pissed. "All I need to do is....."
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This is absolutely, 100%, without a doubt, the God's honest truth.
And any time we have an insurance thread on here, I always harp about having your personal umbrella specifically tied to your underlying collector's car policy or whatever you have carrying the liability coverage on your Cobra. Nowadays, if you kill somebody, or just hurt them badly, you're looking at a seven figure liability. And if you don't think the umbrella carrier that you have over on your daily driver and house is going to try and duck out from under your Cobra's liability after you've flipped it and ripped the head off your passenger, you're dreamin'.