I buy MORE than the minimum liability required by the state. But with
three vans 25 years old - not sure they are worth more insurance
premiums paid out.

Joihn

On 1/27/2014 6:16 PM, Larry Alofs wrote:
> For once I find that I agree with Mcneely.  In the long run, buying
> insurance is a losing proposition unless it's for something essential that
>   you definitely can't afford to replace, like your house.
>
> Larry A.
>
>
>
> On Mon, Jan 27, 2014 at 6:58 PM, Dave Mcneely <mcneely4@cox.net> wrote:
>
>> I only carry liability on any car I own that I consider worth less than
>> $10k.  Self insured is cheaper in the long run.  If I have to buy another
>> car without an insurance company providing me a book value price for my old
>> one, ok.  So far I have lived 69 years and owned a number of vehicles.
>>   I've never had a need for full coverage on a car yet.  I carry full
>> coverage on the camper because it is worth more than $10k, though I'll
>> probably have to prove that to the insurance company if the situation
>> arises.
>>
>> mcneely
>>
>> ---- Dennis Haynes <d23haynes57@HOTMAIL.COM> wrote:
>>> No Comprehensive? That means no protection from fire, flood, theft etc.
>>>
>>> Dennis,
>>>  From my phone.
>>> ________________________________
>>> From: JRodgers<mailto:jrodgers113@GMAIL.COM>
>>> Sent: 1/27/2014 3:28 PM
>>> To: vanagon@GERRY.VANAGON.COM<mailto:vanagon@GERRY.VANAGON.COM>
>>> Subject: Re: Friend in Seattle want to buy his first Westy
>>>
>>> I have borrowed from my credit union with the Vanagon GL as collateral -
>>> but I already owned the vehicle clear and simply went back for a loan
>>> against it. The amount borrowed was about half the appraised value. One
>>> thing - after a month - the credit union sent me a letter, requiring
>>> that it be fully insured. The insurance premium for one year was half
>>> the amount borrowed. I went back to the bank and converted the
>>> collateralized loan over to a personal loan and got rid of the insurance
>>> requirement.  I now carry only liability ins. on it. If it gets smacked
>>> and the other party can't pay - it's just smacked and I have a parts
>>> car. I have two other vans.
>>>
>>> If I had Westy's or Syncros - it would be a different matter.
>>>
>>> John
>>>
>>> On 1/27/2014 1:37 PM, Jeff Schwaia wrote:
>>>> As a seller of "classic" vehicles (mostly Westies and Syncro Dokas), I
>> can
>>>> confirm that many of these purchases are made with bank loans using the
>>>> vehicle as collateral.  All that is normally required is an appraisal
>> from a
>>>> licensed (certified?) vehicle appraiser.  Generally, a vehicle
>> appraisal
>>>> costs about $350.
>>>>
>>>> Cheers,
>>>>
>>>> Jeff
>>>>
>>>>
>>>>
>>>> -----Original Message-----
>>>> From: Vanagon Mailing List [mailto:vanagon@gerry.vanagon.com] On
>> Behalf Of
>>>> Zeitgeist
>>>> Sent: Sunday, January 26, 2014 11:29 AM
>>>> To: vanagon@GERRY.VANAGON.COM
>>>> Subject: Re: Friend in Seattle want to buy his first Westy
>>>>
>>>> I assume the bulk of the late model Syncro campers are being purchased
>> via
>>>> bank loans, given that many are selling for $20k and up nowadays
>>>>
>>>>
>>>> On Sun, Jan 26, 2014 at 11:23 AM, Robert Stevens <mtbiker62@gmail.com
>>> wrote:
>>>>
>>>>> In a message dated 1/26/2014 2:04:52 P.M. Eastern Standard Time,
>>>>> mcneely4@COX.NET writes:
>>>>>
>>>>> Hmmm  ...... .   I'm surprised one can get a loan for any vehicle that
>>>>> old, mileage or no.
>>>>>
>>>>> It's done all the time.....as long as it's secured against
>>>>> real-value-property that the bank can, therefore, hold title to until
>>>>> the loan is paid off.
>>>>>
>>>>> bob
>>>>
>>>>
>>>>
>>>>
>>>> --
>>>> Casey
>>>>
>>
>> --
>> David McNeely
>>
>