Know your insurance policy

What do you think about this? You’ve been a loyal collector-car policy customer for many years. You’ve insured 27 cars on the policy and never had a single claim. One night, one of your collector cars is stolen. The police recover it four days later, but the thieves have damaged it to the tune of just over $12,000.

No big deal, you’re just happy to have it back almost in one piece. Then, your collector-car insurance company denies the claim. When you object, they take you to court to establish they don’t owe you anything, plus they want you to pay their attorney fees.

Bizarre? Maybe, but believe it or not, that’s just what happened to an SCM subscriber we’ll call “Bob.”


  1. Excellent story.

  2. ALWAYS read your policy! I had a lengthy go round with my insurance company when my car was destroyed during a national meet, which featured a ‘performance driving school’; the policy prohibited engaging in ‘racing’. In the end, the policy settled in my favor. Again, small amount, BIG argument.