Insurance

[shinkle]

I see Hagerty is the most popular insurance choice. Any idea how the big insurance companies like State Farm value an old truck that is a nice old truck but not fully restored? Lets say it was stolen or totaled in accident.

 

[Midnightmoon]

I can't speak for State Farm or any of the big companies, but I have my fleet insurance through Erie Insurance Group and my Square with American Collectors. Erie will insure my C10 with no issue, but my agent strongly recommends that I don't go with a standard policy and to keep my truck on the agreed value policy it is on now. According to him, these trucks, especially the high end ones, will run great risk of being severely undervalued on a standard policy if something would happen.

 

[Snoots]

State Farm can KMA. Allstate is getting ready to get the boot. Gonna check out USAA next week.

 

[idahovette]

I have Hagerty, just used it. Short ? story, had the W/S replaced in my 66 Nova SS clone. the people that did it did not razor blade the rubber/paint and "tore" the paint around the glass. looked like ****!! Jumped him about it and he said get an estimate and he'd turn it in to his insurance Co. Our son is a body/paint guy, had his shop do an estimate and took it back. Glass guy said he would give us $500, just go away!! The bid was $2900+. Went home pissed!!! Called my agent, she wanted pics to send to Hagerty..ok..A day later I get a call from Hagerty asking a few questions, then telling me a check for the "very fair" estimate will be issued. Covered under Comprehensive and Hagerty is gonna go after this Glass shop!! Also if the job comes in higher, just send them the additional bill and it will be paid. We did get the check and we have an appointment for the 18th of the month. As far as I'm concerned I'll stick with Hagerty!!!

 

[Midnightmoon]

State Farm can KMA. Allstate is getting ready to get the boot. Gonna check out USAA next week.

We have the ability to use USAA for our vehicles but have found that their rates aren't as good as what we get with our current company. I'll be interested to hear what they come back with for your quote.

 

[Snoots]

Will do.

 

[Doppleganger]

State Farm basically asked me what I wanted to insure it for then based the quote on that. I have used Haggerty in the past - got an appraisal on mine (frame, suspension and drivetrain are full resto'd - bod is straight and clean needing paint) and they appraised it worth x-amt.....then quoted that. Was (surprisingly) ludicrous - basically twice what all my other cars combined were, so unsure what I will do when its back on the road. I do know that I got a better rate from Haggerty THROUGH my insurance agent, than direct.

Course, a few years ago I had a rare 4N car Haggerty insured - owned it for about a year, and had a guy in France offer me almost 3x what I paid for it. Gone. My insurance agent told me 'not having it that long' p.o.'s them off, so maybe thats whats stuck in their craw. Dunno.

 

[idahovette]

In my experience, how good your insurance is, just depends on your agent. Good agents are hard to find, most are just looking for the easy way out and the dollars they can earn??.....NOT all of them!!!.......

 

[shinkle]

We have the ability to use USAA for our vehicles but have found that their rates aren't as good as what we get with our current company. I'll be interested to hear what they come back with for your quote.

I've had great experience with State Farm. I was in an mutlicar accident and was sued by one of these trial lawerys you see on TV. State Farm stepped in, hired me an outside high powered attorney firm to defend me and after 2 + years it was all settled no problem. They were great.

 

[75gmck25]

USAA is much less predictable than they used to be. They are trying to increase volume and get more customers, so they prefer mainstream vehicles and standard claims. They can be hard to work with if your policy or claim doesn’t really fit their standard model.

USAA also now takes just about any military-related customer, so when you call with a claim they first have to determine if you are telling the truth or feeding them a line of BS. In the old days they were much more restrictive on who could buy policies, and therefore seemed to trust their customers more.

 

[fast 99]

I used to tow and store cars for several insurance companies. Unless there is some sort of stated value or rider, they assume the vehicle is stock. In other words, if it has a lift kit, big tires, winch, ect many times there won't be coverage on those items.

My vehicles are insured with State Farm. An approved appraiser was required for the ones with stated value. State Farm is by far less money than a collector car insurer. But, I haven't had a claim so can't say how they will handle it.

 

[R Carnella]

I'm very interested in this topic, i paid $1500 for this burb and have since put at least $25,000 into building my dream truck. Not sure what it's true value is today but i know it's under insured.

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[QBuff02]

I have had Country Insurance for about 20 years, about two years ago when my agent and I sat down for our annual meeting I discussed my '82 K30 with him. He switched me to an agreed value policy and I had to take 4 corner pictures of the truck for proof of condition and the additionals done to the truck and I told him what I wanted/thought it should be insured for and that's how he wrote the policy up. It costs me $130/yr for full coverage year 'round. I know some will balk at one of the terms that it almost treats it like a "fair weather vehicle" policy and that you can't put thousands upon thousands of miles a year on it and they may ask for mileage verification on the truck if they ever decide to verify it. Which isn't a big deal to someone like me, I was so busy last year I only drove it about 350 miles total and it's only been out of the garage once (last month) since November of last year. It's an insurance policy for some but probably not for everyone.

 

[Catbox]

I have Country Insurance as well.
I have had all our vehicles on it for the last 22 years.

One day on my commute home from work, I ran over a piece of metal on the freeway in my 1973 VW Bug. I had full coverage on it at the time.

They sent the guy out to look it over and he totaled it.
14 holes in the bottom of the car that weren't there previously.

Since no other vehicles were involved I was just making a claim.

All of the people involved were easy to deal with and in the end, I did my research and ended up sending the claims adjuster 43 comparative vehicles for sale.

We went back and forth and settled upon a KBB middle of the road settlement.

Soon enough I had a check in my hand for $4200 and I had bought the bug back. It was back on the road after a new battery was installed and I put the exhaust back on.

Been driving the car ever since....

 

[Craig 85]

I have State Farm. They won't insure mine for stated value until I paint it. I currently have full coverage insurance zero comp and $250 collision. Hargerty is about $200 more a year. I have plenty of receipts so I'm sure with some fighting, I could much of what I currently have into it.