Collector Car Hobby Hit Hard By Superstorm Sandy
How to File a Claim and Safely Recover Damaged Property
 

Cherry Hill, N.J. (December 3, 2012) –– “Superstorm” Sandy devastated the Mid-Atlantic region, and classic car collectors in New York and New Jersey are experiencing unprecedented loss. The destruction, by some estimates, is far greater than the damage from Hurricane Katrina in 2005.

“We’ve handled more claims in the last four weeks than during any other four-week period in our agency’s 36-year history,” commented Jill Bookman, CEO of American Collectors Insurance. “Ninety-six percent of reported claims are due to flooding, where the collector vehicle was either partially or totally submerged in salt water. Most of these vehicles are considered total losses since salt water is so corrosive. The remaining 4 percent of claims are from damage caused by wind and fallen trees. One customer with a collection of Corvettes tried to keep his most valuable vehicle out of the water by elevating it on a hydraulic lift, only to have a huge tree come down on top his garage and crush the car.”

For collectors, losing a vehicle or collectible item involves an added level of emotion—a classic vehicle could involve a lifetime of restoration, be a nostalgic high school ride, or a prized family heirloom passed down from generation to generation. As a national provider of collector vehicle and collectibles insurance, American Collectors Insurance offers expertise during what is for many a stressful and confusing time. The following tips may be helpful to collectors who have experienced damage or loss:

• What to do first.

If at all possible, don’t move anything without first taking photos of the damage, noting the condition of the car and what caused the damage (flooding, a fallen tree, etc). First and foremost, think of safety. Do not risk hurting yourself to take photographs of your auto or try to clean up the area. If you cannot safely assess or photograph your property, it is best to contact your insurance provider rather than trying to assess on your own.

• What to expect.

Your insurance adjuster will want to meet with you briefly, inspect the vehicle and its surroundings, and take pictures of the vehicle and any damage. If the vehicle has flooded but flood waters have since receded, the adjuster will take pictures of the water line marks on the wall as well. If the vehicle is deemed a total loss, the adjuster will ask you if you are interested in purchasing the salvage once it’s assessed. Most Sandy claims American Collectors Insurance has fielded thus far have been total losses due to salt water immersion. Salt water is highly corrosive and easily damages metal, electrical systems, etc.

If the vehicle is not a total loss, your insurance company will work with you to coordinate repairs. Those insured through American Collectors Insurance will be able to utilize the restoration shop of their choice.

• Timing on estimates.

This could vary depending on the insurance company. American Collectors’ claims representatives, field adjusters in the affected areas, and home office reps in Miami, FL are all working to ensure that policyholders are contacted with 24-48 hours to set-up an appointment to inspect the damage. American Collectors took its first claim reports the first day of the Superstorm, and settlement checks began being issued within five business days.

• What to have handy when you call your insurance provider.

When filing your claim your provider will want to know details regarding the loss or damage, what specific vehicle(s) were affected, and the best way to contact you as well as a back-up number or email address.

American Collectors’ representatives, teams of internal specialists, and field adjusters have been working around the clock to report claims, dispatch adjusters into the field, and perform inspections and settlements. Claims may be reported via the web 24/7 at www.AmericanCollectors.com or by phone 1-800-360-2277 Monday through Friday 8:30am-7:00pm EST and Saturday 9:00am-5:00pm.

For those who wish to make donations to NJ residents impacted by the storm in the Long Beach Island area, American Collectors’ Cherry Hill, NJ headquarters has been established as a donation drop-off point. Items being collected include cleaning supplies and personal care products (toilet paper, toothbrushes, baby care items, etc.) The office is located at 496 Kings Hwy. North, Cherry Hill, NJ. Items may be dropped off Monday through Friday, 8:30am-4:30pm.