Oh, I carry way more than the minimum liability required by the state.  And I was a little bit confusing perhaps about full coverage.  I carry full coverage when I buy a NEW car, and keep that in place until the value drops below $10k.  When I said I had never had a need for the full coverage, I meant that I'd never collected on it.  mcneely

---- JRodgers <jrodgers113@GMAIL.COM> wrote:
> 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
> >>
> >

--
David McNeely