Set value for insurance?? How?
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Lead Driver
Joined: Mar 2008
Posts: 7,182
Likes: 381
From: Near Los Angeles
Set value for insurance?? How?
Hey guys. I can use a bit of help here. I'm changing insurance and the new co. wants the Kelley Blue Book value of my truck. Well, KBB.com only lists vehicles back to 1992! If I try to use my vin, kbb wants a 17 digit vin. Mine is 11 digits.
Is there another way to set a ballpark value for my truck, since it is highly modified, Hydro 4x disk brakes, new engine, zf5 trans, and many more mods and hp parts. Thx for any help.
Is there another way to set a ballpark value for my truck, since it is highly modified, Hydro 4x disk brakes, new engine, zf5 trans, and many more mods and hp parts. Thx for any help.
Logistics Pro
Joined: Jun 2004
Posts: 4,765
Likes: 3,378
From: South Central Utah
I went with Hagerty and before everyone jumps in they have changed the policy dramatically compared to what it was.
Doesn't have to be garaged, no mileage restrictions.
I can drive it in the mountains but they wont cover damage from "4-wheeling".
Way better these days.
I set the value of what I felt was fair, sent just a few pictures and they offered to insure it for a lot more than I was requesting.
It was almost the exact same price as what I was paying for liability alone and it includes towing too.
$40/mo for $16k and I think $1000 deductible. Might even be $500.
Doesn't have to be garaged, no mileage restrictions.
I can drive it in the mountains but they wont cover damage from "4-wheeling".
Way better these days.
I set the value of what I felt was fair, sent just a few pictures and they offered to insure it for a lot more than I was requesting.
It was almost the exact same price as what I was paying for liability alone and it includes towing too.
$40/mo for $16k and I think $1000 deductible. Might even be $500.
More Turbo
Joined: Mar 2022
Posts: 700
Likes: 214
Most insurance companies will allow you to have an agreed upon value for the car within reason.
I built a 1965 Shelby Cobra and was able to send a few pics of the car and engine to my insurance agent for a reasonable value.
I have state farm and they'll allow me to turn "off" the collision and medical portions in the winter months when I'm not driving it for something ridiculously low, like $50/6mo.
I built a 1965 Shelby Cobra and was able to send a few pics of the car and engine to my insurance agent for a reasonable value.
I have state farm and they'll allow me to turn "off" the collision and medical portions in the winter months when I'm not driving it for something ridiculously low, like $50/6mo.
Tuned
Joined: Feb 2025
Posts: 339
Likes: 222
I was in the same position with my insurance company, had it lumped in with my homeowners through AllState. I wish someone had told me about Hagertys four years ago. Don’t even consider any other companies, use Hagerty and don’t look back. There’s no comparison between the policy I had with AllState and the new one with Hagertys, not even close.
Laughing Gas
Joined: Aug 2000
Posts: 1,006
Likes: 63
From: Eastern, Idaho
Hagerty has a value estimation tool, you can also get values on jdpower.com formerly NADA. https://www.hagerty.com/valuation-tools
You can also compare with values on ebay sold auctions or bringatrailer. I use hagerty, as mentioned before, with stated value full coverage, it is cheaper than liability only with my main home and auto insurance bundle. They also discount rates with the more vehicles you have insured with them. I have a 77 ($5k) and 79 f150 ($12k), an 86 pontiac fiero ($16k) and a 2002 bonneville ssei ($5k) on my policy just paid $693/yr.
How I value my vehicles is based a little on how much I have into them versus how much it would cost to replace in the event of a fire, collision or theft.
You can also compare with values on ebay sold auctions or bringatrailer. I use hagerty, as mentioned before, with stated value full coverage, it is cheaper than liability only with my main home and auto insurance bundle. They also discount rates with the more vehicles you have insured with them. I have a 77 ($5k) and 79 f150 ($12k), an 86 pontiac fiero ($16k) and a 2002 bonneville ssei ($5k) on my policy just paid $693/yr.
How I value my vehicles is based a little on how much I have into them versus how much it would cost to replace in the event of a fire, collision or theft.
Last edited by orangeford; Sep 29, 2025 at 06:05 PM.
Moderator & parts slinger
Joined: Feb 2007
Posts: 50,192
Likes: 5,793
From: S/W Missouri, Polk county
X2 on "adjusted value" I simply told my insurance company how much I wanted to insure it for. And sent them some pics. NO must be parked/stored in a garage or miliage restrictions either. I got that value $ number off IMO of what it would cost me to do/have done any quality body shop work repairs.
If your new insurance company has no idea on how to insure a classic (11 vin) vehicle, you better go shopping for another insurance provider. Sounds like Hagerty is the way to go.
If your new insurance company has no idea on how to insure a classic (11 vin) vehicle, you better go shopping for another insurance provider. Sounds like Hagerty is the way to go.
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Fleet Mechanic
Joined: Feb 2022
Posts: 1,371
Likes: 707
Offices vary drastically depending on location, but State Farm has done us right with our classic vehicles. Both our ‘73 F-250 and the Viper have classic plates and the insurance is very affordable. The truck is insured for 60k (no complaints from them) and the Viper is at 75k (no complaints either). They need a primary parking address but no restrictions about garaging it. Annual mileage is limited to 3,000 though.
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Cargo Master
Joined: Sep 2007
Posts: 2,470
Likes: 535
From: Chandler, AZ
I had Hagerty. They suck. Very difficult to get someone on the phone, can't imagine filing a claim. They asked me if I would put smaller tires on my truck, if not they would not renew my policy. You can guess what happened. Went to Safeco SO MUCH BETTER!
Logistics Pro
Joined: Jun 2004
Posts: 4,765
Likes: 3,378
From: South Central Utah
How long ago was this?
Hotshot
Joined: Feb 2004
Posts: 10,808
Likes: 2,604
From: The Shenandoah Valley
In the late '70s, early '80s, I was in my mid '20s, had a '67 Chevelle I had put some money and effort into, Erie let me have the car looked at by a dealer, they wrote me an appraisal letter, on letterhead, and the insurance let me insure it a flat $5K, which would have covered my investment then. Was no use or storage restrictions, they just required an update letter on dealer letterhead each year.
I would hate to loose my '77 now, but truthfully it would not be near the financial catastrophe to me, If the other driver is at fault, I'll pick a lawyer. I have liability & medical for any passengers with me.
I would hate to loose my '77 now, but truthfully it would not be near the financial catastrophe to me, If the other driver is at fault, I'll pick a lawyer. I have liability & medical for any passengers with me.
Lead Driver
Joined: Oct 2018
Posts: 7,879
Likes: 2,367
the old saying " there are no free lunches" applies to insurance as well. if you can park your classic next to a crack house, 4 wheel it off a bluff and tow a gooseneck with it you're either going to pay more or get less. or both.
I use Condon & Skully on all my classics and have for decades. you get to choose your terms and pay accordingly. I agree to not tow, always keep it stored in a locked building when at home, not drive over 2500 miles and have a $1000 deductible, and this works fine for me. consequently, I get full coverage on 220k in vehicles for about $800 a year.
I have always done agreed upon value and have never been asked to have an appraisal. if your valuation based on pictures and description is reasonable most companies are pretty easy to deal with. don't count on alterations to add value, it's usually the opposite. expect appraisals if you have much deviation from stock.
I use Condon & Skully on all my classics and have for decades. you get to choose your terms and pay accordingly. I agree to not tow, always keep it stored in a locked building when at home, not drive over 2500 miles and have a $1000 deductible, and this works fine for me. consequently, I get full coverage on 220k in vehicles for about $800 a year.
I have always done agreed upon value and have never been asked to have an appraisal. if your valuation based on pictures and description is reasonable most companies are pretty easy to deal with. don't count on alterations to add value, it's usually the opposite. expect appraisals if you have much deviation from stock.
Last edited by 440 sixpack; Sep 30, 2025 at 11:48 PM.
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