[mkiv] Costco/American Express Insurance & Aftermarket Parts

[ATTBI]

You can usually check insurance companies ratings in your state by
contacting that states Department of Insurance (every state has one, but it
maybe called something different), here is CA it is called California
Department of Insurance (CDI).

On CDI's website ( http://www.insurance.ca.gov ) they do not list
AMEX/Costco as a provider of automobile insurance (only life insurance, but
they may not offer coverage in CA). Make sure that AMEX/Costco is the
underwriter for the insurance, and not just some marketing front for Joe
Blow Insurance.

..> August B.
..> '94 BPU++ 4sp
..> Licensed Life Insurance Agent, State of California

----- Original Message -----
From: "Peter S." <peters@dnai.com>
To: <mkiv@mkiv.com>
Cc: <JMinert@nact.com>; <player280@aol.com>
Sent: Tuesday, June 11, 2002 4:14 PM
Subject: [mkiv] Costco/American Express Insurance & Aftermarket Parts


> I was getting an insurance quote from one of the special offers that
> Costco sent me... Auto insurance by Costco/Amex. Curious so I got a
> quote:
>
> My stats: 22 yrs old, licensed 6 yrs, last 3 years: 1 no-fault accident,
> 1 claim, no tickets.
> Coverage: 100/300k, $500 deductible on comp/collision, 50k property
> damage, uninsured motorist
> Cars: 92 Camry 4cyl, 94 Supra TT each with 12k miles per year.
> Premium: 6 mos coverage = $808, without tow/rental = $777
>
> Then I mentioned aftermarket parts and I was less sure of myself. From
> what I understand they either do not cover/approve anyone with
> exhaust/suspension parts, so i just said I got a $750 HKS exhaust
> because I wanted a shiny muffler, and my stock shocks broke so I got
> $400 KYB's. Next was an electronic "add-on" display for the car's speed
> and RPM (AVCR+AFC) valued at $700, and the big killer was a $7500 body
> kit with $5000 to install/paint it. So this was referred to the
> underwriting department for review. Reason I wasn't very sure with
> myself is that the person I talked to was an idiot, asked me what
> suspension did, and what my exhaust was for, etc. It was also the reason
> I said my OEM shocks broke and needed replacement because she was so
> stupid to understand :)
>
> So, add $15,000 parts coverage if car was stolen, add $50 to the 6-month
> premium.... <---- ISN'T THAT A LITTLE LOW??? Now I need to ask them what
> they think the "fair market value" of the Supra really is.... $12k for
> the car + $15k in mods = $27k, is still a little low.... But hey, $825
> for a 6-mon policy on SupraTT/Camry is a fairly good deal, not to
> mention I can charge this to my Amex card for another 2% off... so,
> close to $800/6mos coverage... So I wait to see if they can cover.
>
> Meanwhile, I need to find out the track record of the insurance
> company... American Express/Costco... Anyone have
> rumors/experiences/stories they want to share? :)
>
> ~Peter
>
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