Announcement

Collapse
No announcement yet.

Insurance question

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Insurance question

    I just got the title in the mail for the '64 Daytona Hardtop I bought which I hope to have shipped to my home in March. Should I put the car on my insurance right now, even though I don't have the OH title worked up yet (only the WI title signed over to me)? I'd like to cut the seller a little slack by having him cancel his insurance on the car ASAP, since he's not in a hurry for me to get the car out of his place. Any ideas?

    Thanks.

    Bill Pressler
    Kent, OH
    '63 Lark Daytona Skytop R1
    '64 Daytona Hardtop
    Bill Pressler
    Kent, OH
    (formerly Greenville, PA)
    Currently owned: 1966 Cruiser, Timberline Turquoise, 26K miles
    Formerly owned: 1963 Lark Daytona Skytop R1, Ermine White
    1964 Daytona Hardtop, Strato Blue
    1966 Daytona Sports Sedan, Niagara Blue Mist
    All are in Australia now

  • #2
    If it's been signed over to you and you have possession of the title, you own it. Have it added to your collector car policy (or get a collector car policy). Insured it for what you paid for it.

    ---------------------------------------------------------------------------------------------------
    Tom - Mulberry, FL

    1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2125.60)

    Tom - Bradenton, FL

    1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2514.10)
    1964 Studebaker Commander - 170 1V, 3-Speed w/OD

    Comment


    • #3
      Absolutely.

      You can't insure a car you don't own. If the seller has signed the title over to you, he doesn't own the car anymore. His insurance company will not (can not) pay him for the loss.

      Dick Steinkamp
      Bellingham, WA

      [IMG][/IMG]

      Dick Steinkamp
      Bellingham, WA

      Comment


      • #4
        All you should need is a signed title a VIN and a few pictures of the car to get insurance.He 'done' signed the car over to you so legally it's yours.If your insurance company requires a title number,you would be compelled to make that trip to the DMV earlier than planned.The previous owner can cancel his insurance (at least in MD)as soon as he turns in his tags to the DMV. If his tags are expired, this is a non-issue.

        Comment


        • #5
          Bill I just went through the same thing your are. I have my classics insured through Grundy insurance. I called them to add my lastest purchase and all they wanted to know was the vin number. I told them I had not trnsfered the title yet and they did not care. I just received the policy and bill and still haven't tranfered the title. Going tomorrow to do that. I have had no problems with Grundy. If your insurance company gives you a hard time I would call Grundy.

          Comment


          • #6
            My State Farm agent informs me they grant insurance on any vehicle you purchase for thirty days, even if you haven't informed them of your purchase.
            "All attempts to 'rise above the issue' are simply an excuse to avoid it profitably." --Dick Gregory

            Brad Johnson, SDC since 1975, ASC since 1990
            Pine Grove Mills, Pa.
            sigpic'33 Rockne 10, '51 Commander Starlight, '53 Commander Starlight "Désirée"

            Comment


            • #7
              Both are correct. Most companies grant a grace period between 14 & 30 days with 21 days the usual.

              ---------------------------------------------------------------------------------------------------
              Tom - Mulberry, FL

              1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2125.60)

              Tom - Bradenton, FL

              1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2514.10)
              1964 Studebaker Commander - 170 1V, 3-Speed w/OD

              Comment

              Working...
              X