The recent - and ongoing - California wildfires are absolutely devastating. There's no other way to describe it. The losses are staggering, and while human life has largely been spared, we ache for those that have perished.
Photos have been trickling in of property losses, and among them, the destruction of specialty and vintage vehicles. If you wade into any number of Facebook groups, these photos are often met with reactions like, "They're only metal, people have lost their lives," or "Who cares? It's just a car." Sure, fair enough. But those cars are often owned for one, if not two,reasons: they hold some sentimental value for its owners, or they were purchased for their long-term value potential. Either reason is valid. And many caretakers of vintage cars have continued to own them after nostalgia combined with surprising price increases that justified their continued presence in the garage.
Now, for a tough question: how many of those owners backed up vital records, certificate of authenticity, service invoices, in a digital format? Or, were most lost in the fire, just like the cars themselves? I know a gentleman from Hollywood who owns north of $2 million in collector-grade air-cooled VWs and Porsches, and when I asked him how his records were backed up, he pointed to a file cabinet. Obviously, many of us save things this way, but how sobering is it to think that the hundreds of thousands of dollars in restoration receipts could suddenly be gone?
As we increasingly see in high-risk areas like Florida, insurance carriers are simply pulling out of risky markets. I do wonder how the wildfires will affect how even collector policy writers look at insuring cars in high-risk states, especially when well-heeled collectors could simply store their collection elsewhere.
But what about the folks outside of the 1 percent who still own special vehicles, cars and trucks with significant time and money behind them? Where's the evidence of your work? The Common Gear is a platform that allows you to securely upload your records so the digital footprint of that car or truck is never lost, and you're equipped with ample evidence to show your insurance carrier of the investment you've made that justifies your pay-out. Being made whole and all that, as empty as this promise seems after you lose everything. At the end of the day, however, if it's between you and the guy who doesn't have any paperwork behind his valuation claim, which one do you think the insurance company is going to pay the agreed amount to? We all want to believe the likes of Hagerty will do right by us in times of need, but the simple truth is you just don't know until you're in the unfortunate position of having to find out.
We are truly sorry for the heartbreak many in California are experiencing right now. There are no words. At The Common Gear, we stand ready to digitize your records and preserve your car's legacy. Create a free account today.