Insurance valuations
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Tuned
Joined: Oct 2020
Posts: 341
Likes: 99
Insurance valuations
This is probably been beat to death, but the search function was really no help.
Does anyone know where you could get a fair or even semi-fair valuation for our trucks. I have tried to use hagerty's and nada. But niether one of them allowed for any options. They both gave a generic value of 16k-17k for good condition.
I have done a frame off restore on my truck. You can search 85.50 in this forum if interested. I don't know how to do links. It is not a show truck. I built it to drive not look at. My insurance only wants to insure it as a old truck. They aren't even close to the value of even a old beater truck.
To go with a agreed value all of them i have talked to wants to limit the use of the truck.
I feel like although my truck is not a show truck, it would be considered at least in good condition.
Does anyone know where you could get a fair or even semi-fair valuation for our trucks. I have tried to use hagerty's and nada. But niether one of them allowed for any options. They both gave a generic value of 16k-17k for good condition.
I have done a frame off restore on my truck. You can search 85.50 in this forum if interested. I don't know how to do links. It is not a show truck. I built it to drive not look at. My insurance only wants to insure it as a old truck. They aren't even close to the value of even a old beater truck.
To go with a agreed value all of them i have talked to wants to limit the use of the truck.
I feel like although my truck is not a show truck, it would be considered at least in good condition.
Lead Driver
Joined: Oct 2018
Posts: 7,877
Likes: 2,365
NADA gives you a ballpark figure but really you either have to get it appraised or find a company that will look at your pictures and agree with your estimate.
I looked on the internet and valued my '76 high boy at 45k and expected a little push back from the insurance company or a demand for an appraisal at the least. they just said " ok" and sent me the policy paperwork. so give it a try they might go for it and if they don't you'll know what you need to do.
I looked on the internet and valued my '76 high boy at 45k and expected a little push back from the insurance company or a demand for an appraisal at the least. they just said " ok" and sent me the policy paperwork. so give it a try they might go for it and if they don't you'll know what you need to do.
Moderator & parts slinger
Joined: Feb 2007
Posts: 50,186
Likes: 5,792
From: S/W Missouri, Polk county
You might look around for another insurance company. I told my insurance brokerage company I want to do an agreed value on both my 77&78. They had to find a different company, but when they did, that company agreed with my $# and did not put any mileage, limits, rules or stipulations on them. All I had to do was send them some pics showing proof of condition. Some companies say it must be parked in a locked garage, and limit the mileage per year and use. Like No DD ect...
Base the $# (agreed value) off what it would cost YOU to replace or repair the truck if you get in an accident. Other wise if you let them insure it for X amount (NADA, Kelly blue book) and you get in a wreck, you can bet it will be quickly totaled and then you are screwed.
Base the $# (agreed value) off what it would cost YOU to replace or repair the truck if you get in an accident. Other wise if you let them insure it for X amount (NADA, Kelly blue book) and you get in a wreck, you can bet it will be quickly totaled and then you are screwed.
Mountain Pass
Joined: Dec 2016
Posts: 200
Likes: 9
When I got done with my frame off, I had it appraised by a certified appraisal company locally. Then insured with Hagerty. They gave me the option of how much it would be driven, where it would be parked. Cost of the insurance was based on those factors. The appraisal was 40-45k. They insured it at 45 guaranteed value. Have never dealt with them on a claim. Before I got carried away on the restore, it was insured for 15k through my regular insurance. When someone rear ended me the first thing they're insurance company did was try and total it at bluebook. Had to go to war to have it fixed correctly. If it's someone else's fault you're dealing with they're insurance.
Cargo Master
Joined: Dec 2008
Posts: 3,213
Likes: 321
From: SW PA
To be honest - I don't know there is an insurance policy out there that fits "regular truck use" but also carries a "classic use" coverage and monthly cost.
The only reason that Hagerty and others can offer you $45k coverage at an affordable price is because the risk is reduced based on the usage of the classic.
If you plan to use the truck as a DD or for consistent truck duties, then I am not aware of an insurance supplier for you with an agreed value policy.
Your best bet is likely to insure with a specialty carrier at an agreed value, and if something requires a claim, be prepared for a conversation about how the truck was being used at the time of the accident.
The only reason that Hagerty and others can offer you $45k coverage at an affordable price is because the risk is reduced based on the usage of the classic.
If you plan to use the truck as a DD or for consistent truck duties, then I am not aware of an insurance supplier for you with an agreed value policy.
Your best bet is likely to insure with a specialty carrier at an agreed value, and if something requires a claim, be prepared for a conversation about how the truck was being used at the time of the accident.
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Fleet Mechanic
Joined: Dec 2007
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From: Wildwood Pa
Here's a link to the OP's build thread: https://www.ford-trucks.com/forums/1653447-85-50-a.html
Lead Driver
Joined: Oct 2018
Posts: 7,877
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Watch " bring a trailer ". auctions are the best way to determine value and that's why insurance companies use that data.
The OP has OMG amounts or rust in a 2wd with the wrong bed. I really don't know the value, but I wouldn't push the insurance company too hard.
The OP has OMG amounts or rust in a 2wd with the wrong bed. I really don't know the value, but I wouldn't push the insurance company too hard.
Mountain Pass
Joined: Nov 2022
Posts: 226
Likes: 83
From: South East Kansas
I'm watching this with interest. Wondering if Hagerty allows for daily of often driven? With the rise in price of all of these old trucks, I have the desire to insure mine, if possible. I currently have nothing on them, except for Liability.
We are with J C Taylor and have been for a long time now, but as mentioned have only liability coverage.
Back in the day were were only interested in Liability coverage on some older seldom driven trucks.
They are pretty strict on where they are stored and how and where they are driven. I just recently called and asked about insuring my 63 Wrong bed, 73 F100, 78 F250, 71 F100, 69 F100, and my 78 Bronco.
They are willing to insure, but want pictures, and would like appraisals. Their insurance is pretty reasonable at $7.00 per 1000 of coverage.
Not sure how they would be if we had a loss, as I have not dealt with that part yet, and hope I dont.
They seem to be ok at cashing my check each year... LOL
Any one have any experience with JC Taylor?
We are with J C Taylor and have been for a long time now, but as mentioned have only liability coverage.
Back in the day were were only interested in Liability coverage on some older seldom driven trucks.
They are pretty strict on where they are stored and how and where they are driven. I just recently called and asked about insuring my 63 Wrong bed, 73 F100, 78 F250, 71 F100, 69 F100, and my 78 Bronco.
They are willing to insure, but want pictures, and would like appraisals. Their insurance is pretty reasonable at $7.00 per 1000 of coverage.
Not sure how they would be if we had a loss, as I have not dealt with that part yet, and hope I dont.
They seem to be ok at cashing my check each year... LOL
Any one have any experience with JC Taylor?
Lead Driver
Joined: Oct 2018
Posts: 7,877
Likes: 2,365
You can drive them every day but the rates go up with the milage..
I have my high boy at 50k now with Condon and Skelly. I have a 2500 mile per year limit , it has to be stored inside and a $500 deductible. it costs me about $300 a year. if I wanted to drive it more I can but the rate increases, I'm not sure how much.
I have my high boy at 50k now with Condon and Skelly. I have a 2500 mile per year limit , it has to be stored inside and a $500 deductible. it costs me about $300 a year. if I wanted to drive it more I can but the rate increases, I'm not sure how much.