Good Insurance Is Your Car’s Best Friend

def41c16ecd47d3e98a6509e1ff6fca0

 

Last month’s “Legal Files” illustrated how loaning your car to another can wreak havoc at the highest levels. This month, we’ll explore some more mundane situations that can be equally unsatisfying.

Let’s start with a pretty common situation — you and your friend enter a rally in your 1957 Porsche Speedster. On the second day, you trade places and your friend drives. While you’re trying to figure out where you took the wrong turn and how to get back on course, your friend gets distracted, misses a turn and crashes into a tree.

Fortunately, you both escape injury, but your Speedster doesn’t. Your friend apologizes profusely, accepts responsibility and promises to have his insurance carrier take care of the damage. How’s that going to work for you?

John Draneas

SCM Columnist

John practices law in the Portland, OR, suburb of Lake Oswego, where he focuses on tax and estate planning, business organizations and transactions, and representation of collector-car owners. He is a past president of the Oregon region of the Porsche Club of America and served as the chairman of the PCA’s 2006 parade. His collection includes two Porsches, a Ferrari, an Alfa, a Lotus, a BMW daily driver, a John Deere tractor — and one increasingly famous Jaguar E-type. This month’s “You Write, We Read” on p. 20 is full of SCMer advice on whether Draneas should restore his Jag.

Posted in Legal Files