Kirk,
I understand your point, and it is well made. I think one of the differences is that those people have standard auto insurance, and we are looking at classic auto insurance. There is a big underwriting difference. In the state of PA, everyone with a valid drivers license HAS to be eligible for insurance. If they are a bad risk, they are thrown into a pool and given equally to insurance companies who MUST write a policy for them. Classic car writers have much more leeway to refuse a risk. I'd also guess one other difference. A kid has potential to get in trouble no matter what they are driving. A Cobra has potential to get in trouble no matter who is driving it. Kind of the flip side of the same coin. Hence, they'd NEVER insure a kid in a Cobra
. I've seen the rustbuckets you're refering to also, and I don't think they should be insured or street legal. But I bet they have a low claim rate.
Bumpster, I hope to talk to P-H this week anyway for my work (outside of this whole thing). I'll bring it up when I speak with them.
Dave,
I think in theory your idea is a good one, but here's why I think it would be an issue. State regualtions. To do it, we'd have to apply with the state Department of Insurance for
every state that we want to write a policy in. We have to show them financial solvency (which I suppose could be done), but more importantly, we'd have to have a state approved policy for each state, as insurance laws are very different from state to state. There are very few private insurance groups for that reason. The legal issues would be astronomical. I deal with the PA Dept. of Insurance frequently, and boy are they tough. I think we're stuck with the system we have. Good, bad or otherwise.
DV, being damned isn't so bad, is it?
My wife says something about it all the time, so I kind of figure it's a good thing.
Steve
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