Hey Fellas -

I was wondering how everyone insures their pick up. I'm a little nervous right now, my agent doesn't insure vehicles by stated value without an appraisial. They're only insuring it for the value it sold for new, $5000.

I'm with State Farm, have been forever. Everything is through them, our homeowners, life, all the vehicles. I keep full coverage on all of my vehicles, I think it's worth it in the long run. If I go somewhere else, I'll be paying considerably more because of all the discounts I receive.

The appraisial they require is one you'd have done on a high end collector car, $400 - $500. There is no way I'll know what that value would be until I spend the money. They could say it's worth $5500 and I'm no better off. We all know it would take quite a bit more than $5000 to get one restored.

How are you all insured???

 

We are insured for liability and I think the price we valued the truck on the registration...

 

Liability only. They want an !@#$%ton for full coverage. And yah it would suck to get the appraisal back at what the insurance already covers

 

Well I got Nationwide Insurance an they told me for my 74 F250 with liability is $37 a month an then I can get it appraised an get it insured for more money. An they said something that old I can not get full coverage for it. An this is for a daily driver.

 

I just went though the process to change companies. I now have insurance through American Modern. It may have relevance for a number of reasons and I'll explain:

I had SAFECO and was assured when I got the policy that we had an "agreed value" of X for my 75 F250 and my 70 Bronco. I know it doesn't mean I'd get that much, but I felt OK about it.

I recently got the bill for my newly aquired 79 F350. I asked why the premium amount was the same for my 75 F250, since I declared the value of the 79 as $2000 and the 75 as $8000. I was told there was no declared value for either, just "market" or KBB value. Same with my 70 Bronco that is worth way more than both dents combined. I wasn't happy.

PLUS--they had them listed as "classic" cars and expected me to not drive them to work. I had clearly told them at the time I was driving them all the time and wanted them insured for everything. So my Bronco has been valued at a few thousand dollars.

I think it has something to do with the fact SAFECO farmed it out to some other company. But that's the norm, even American Modern has done this (I think) given that my policy says Consumer County Mutual Insurance Co.

Anyway, I've got the new policy and I'm much more confident that American Modern knows what's up. They've assured me we've got a declared value...I didn't have to get it appraised and only had to send photos. It's got to be garaged, which they all are, and I can only drive a couple thousand miles a year in each (I provided odometer readings.) That's fine, I only drove the Bronco a couple thousand a year when I didn't have the other two dents.

I was told clearly that I could drive it once in a while to work, like "once or twice a week." I think the website even says that. Easy, since I've got three classics. I also have to have another primary vehicle, which I do (Honda Civic).

Best of all it's something like $200 a year for all three. I was paying about $900 a year to SAFECO and they weren't even insured well, nor was I supposed to be driving them anywhere except to club meetings or shows.

Bottom line: American Modern was the only classic company that had any leeway on me driving it once in a while to work or on errands. I looked around for a while, too.

 

We're sitting right with State Farm, I pay $41 a month for full coverage, $500 deductible.

My concern is if it's totaled, they pay me $5000 and I'm eating what it'll take to get it back to where it is. I feel more comfortable with an insured value of $10k. I could buy it back from the ins company and get it back to how it is now without any out of pocket.

 

That's what I'm looking for...I'll check them out! I appreciate it.

 

Are you looking to drive it just every now an then or use it as a daily driver?

 

I currently have liability only on my truck--since it's still in "beater" mode. Tried getting a stated value policy with Haggerty, and stated that the truck is used 100 percent for weekend use, and the occasional trip to the lumber yard. Turns out if you have a vintage truck, you can't EVER use it for anything other than car shows & pleasure drives.

That's what I get for being an honest guy...

 

YES!

I have my 07 pick up I need to drive for my business, mileage tax deductions and so on. If I'm going out of town, I'll drive it. I can work from home or drive 15 miles to my office, so I'll drive whatever I feel like driving that day. I'm not going to drive it everyday, but I don't want to be restricted if I wanted to drive it everyday this week.

 

Josh just insured his 79 for a 22k declared value thru grundy insurance for 400 a year, but as a collector

 

Any restrictions?

 

Couln't tell you. But i would bet money YES because it is a collector

 

The policy is null and void if you remove the vehicle from its climate controlled garage at any other time than Sundays between 1 and 2 pm and only during the months of July/August, just kidding of course but the restrictions are pretty draconian.

 

I was going to post on the same topic. This is a huge concern for all of us, or at least those of us who aren't building show trucks. In my opinion, most of us stand a better chance of having it stolen than totaled in a wreck. At least in a wreck we still have it and can then perhaps repair what was damaged with the insurance money. If it's stolen (not just for a joy ride, but ends up in a backyard body shop for resale or parted out) ... it's gone. I paid $4500, have put $4k into it since then (so far!), but would be lucky to get $4k from insurance based on similar sales in my area.

The only advice I could offer as a novice would be to leave the exterior not looking all that great (less of a tempting target), and implementing some of the anti-theft ideas that you can find on other threads here. Would love to hear more ideas, but after talking with insurance hacks so far, that's what I'm left with.