I went to have insurance but on my 1979 F250 Crew Cab today, he asked what the trucks worth, I told him around 20K to 25K, he said I would have to prove to him thats its worth that, "for a 79" as he laughed.

While my blood was boiling i wanted to reach thru the phone and slap the... well you guys get my point, so I told him to just put liability on it for now till I research the truck and find info to prove that its worth atleast that much.

Any one have any ideas, or any other insurance companies that know prices on old collector ford trucks, but then maybe the old crew cab isnt worth 20K

Thanks guys

 

There was a thread on here about what insurance we were running that had some pretty good info.

How much do you drive this truck and where is it kept? There are a few companies that specialize in classic insurance. You and the insurance company will agree on a value of the truck and everything will be covered. Supposedly they are better about getting it repaired correctly.

The problem with these companies is that they are VERY strict about their conditions. You must park in a locked garage. You cannot drive more than xxx miles per year. You cannot leave the truck unattended while out and about.

I would think having your truck appraised would be the best option. Bring the insurance company the appraisal and tell them to shove it.

I have full coverage with metlife. They looked at the selling price of similar trucks in like condition in the area around me to determine what the truck is worth.

 

Thanks Steve, where does one get an appraisal at?

 

Different policies means different premiums. Why is this a mystery. Sounds like the guy you talked to didn't know much about trucks OR insurance. Find another company to deal with, seriously.

First thing (and don't mean the OP) many people are not very knowledgeable about even the basic concept of what insurance is, what it's for, who pays, and why. It sounds like a racket, and it can be - Still the extent of many drivers understanding is that it is a policy/note they are required to have as a condition of borrowing 4 or 5 times their net worth.

If they ever need the policy all of this needs to be explained very carefully. (No, you didn't win the lottery and the check will be made out to the bank, etc. Deductible is a foreign concept.)

The reason I mention this is because of the misunderstanding of just what a standard policy is. The premium most people buy if they own their truck outright pays the depreciated value of the truck. If it's worth 900 bucks in Kelley, well.. What did you expect?

You CAN buy a policy for replacement value no problem. The monthly premium is gonna be way higher, at least on a percentage basis. Might be reasonable dollar wise though.. All it takes is an appraisal. The other insurance most people are familiar with is liability insurance or, proof of financial responsibility.

What this agent did was miss out on making a sale. A good agent is going to quote you the premiums for a package deal - say two cars and your homeowners policy and try and bundle everything. Oftentimes they can give you more coverage for about the same or less, so long as they hold your homeowners policy.

I don't have my 64 insured for comprehensive or any "agreed upon" value.

Buy insurance only for things that will wipe you out financially. If I total old blue, that sucks but it's not a big deal. This is "self insure", a way of saying BFD. For the same reason, "extended warranties" on your laptop and TV is a bad deal and a waste of money.

Before you go looking for comprehensive or replacement value look at the required minimum liability coverage for your state. The liability coverage I increased about three times what the state requires because they haven't changed in probably 40 years. Medical costs and damages have gone up a LOT. Find a good company that will cover all your vehicles, your home, and look at an umbrella policy if you have assets.

 

Get to reading....there are some rules for classic car insurance...Hagerty, grundy

https://www.ford-trucks.com/forums/1...ight=insurance

https://www.ford-trucks.com/forums/1...ight=insurance