Insurance

[74w300uteline]

Need advice. Ive never had colision insurance on my trucks but now that Dr. Dent(ron reichhart) is getting close to finishing the restoration on my 75 w200 crew cab i will have a prize winner sunday go to meetin truck. Too much sweat and money in this truck to take chances without collision insurance. Who determines the replacement value of a restored 70s crewcab? Me , the insurance company?

[greg rider]

Some insurance companies will insure for a stated value as long as you have a recent appraisal from one of their recomended places. My '51 Mack is insured on a plan with my '85 Dodge, '03 Monte Carlo, homeowners, golf cart, etc.. Ask your agent, you might be surprised, they usually don't advertise these because they aren't big markets.

[DrPepper]

Look up "Hagerty" insurance or....

our Mopar club has had a State Farm (?) agent do presentations a couple of times on valuation of classic cars.
Since mine is a non-runner for now I paid less than $200/year for full coverage. I also have a stated value of $5500. That will change and so will the price when I'm driving it.

http://www.hagerty.com/

Figure what it would take to replace it and what it is worth to you and get a couple of quotes. They will want to know if it is going to be a daily driver or show queen, if it's a DD then that will send the in$urance bill up.

Also, depending on the state and age of the vehicle, you can get limited use plates that are a lot less money. Mine renew every 5 years but they are supposed to restrict driving to car shows and less than so many miles /year.

[Gordon Maney]

My trucks are with State Farm.

[n1265]

Some insurance companies will insure for a stated value as long as you have a recent appraisal from one of their recomended places.

This is how my company does it, However my agent advised me against going with a stated value because he said all it does is limit the Company's responsibilty to that amount. According to him, even if you have a stated amount, that does not guarente that is what you will receive if it is a total loss.

The vehicle will be appraised at time of loss, reguardles of the stated amount of when you took out the policy.

This is just how my company does it, ( ERIE ) Yours may be different...


I believe NADA has a classic section to give you an idea of what it's worth "according to the book "

[Alxj64]

The vehicle will be appraised at time of loss, reguardles of the stated amount of when you took out the policy.

I believe NADA has a classic section to give you an idea of what it's worth "according to the book "

The previous owner of my Carryall had the truck on his policy just like any other vehicle, along with his home owners, etc. He was actually waiting on a quote back from Hagerty at the time of the accident. The truck was rearended, badly, and the insurance company hung him out to dry. The truck was worth well over $25k plus as it was built... 4bt, 4L80E, lots of body work, etc etc. They simply told him that since the title said it was a gas engine, that it was obvious he had changed the drivetrain so it was up to him to make it match. They compared it to a stereo system. If the bed on a pickup gets smashed, its not the insurance company's concern if your aftermarket CD player gets moved to your new vehicle and told him it was his risk of driving a difficult to repair or replace vehicle. The insurance company found two or three basket case carryalls on craigslist and dodgepowerwagon.com classifieds and then told him they would give him 75% of the value to go buy another one and it was up to him to "swap parts" onto a new chassis. Took him two years to settle, in court, and he still go raked through the coals, burnt badly on the deal, and ended up selling me the truck because he simply couldn't look at it rotting in his shop and the settlment was not nearly enough to begin working on the truck, let alone buy another decent body.

This being the case, I am going to make sure whatever insurance clause I have on the truck will fully cover me and I will know exactly the details to the coverage. I plan on driving mine weekly and taking long trips out of state towing an airstream trailer so the Virginia Antique tags and antique insurance won't work for me. I've already began the necessary steps to get the title information on the truck changed over to Diesel from gas, the correct chassis weights updated as the current ones have the Gross combined weight as less than the truck actully weighs empty when it was built new in '42, and also the title has the truck listed as a WC-5 as whoever titled it in Louisiana last didn't bother to realize there was only room for 4 characters as they use abreviations and in doing such should have dropped the dash. Having a title corrected is a tedius and drawn out process, but if the title doesn't match what the insurance company is protecting me for, then they get let off the hook so its all gotta match and be legitimate. If the truck title says it weighs 3200# and the gross combined weight is only 5000# and it actually weighs 6000# empty and I hook a 3200# trailer to it, then something happens on the road, I get all kinds of tickets, get sued for being overweight on paper, and the insurance company once again gets to run off and hide somewhere...

I know this is more info than asked for but just make sure you look at every finite detail of your situation as there is always a loop hole for the insurance company to try and sneak through, and especially with a vintage truck that is often difficult to put a value on.

[KRB64]

I agree. Don't just insure it as a '75 w200 or thats just what it will be.

I had just rebuilt the motor, had finished the body and was saving up for a paint job on my first car, a '76 Space Duster when it was totaled in 1989 (not my fault). The insurance company didn't care how much money I had just wasted on the partial restoration. To them it was a 14 year old Plymouth and worth just that. I think I got $700 which didn't even cover the engine work...

I'm ashamed to say it but I teared up right there in front of the insurance lady when she told me that. Even proof of all the recent receipts didn't sway their cold, cold heart. First taste of the real world and adulthood has sucked ever since...

Here in Kentucky we can get antique plates which are cheaper but like Alxj64 says they have their limitations.

[AdventurerSport]

Need advice. Ive never had colision insurance on my trucks but now that Dr. Dent(ron reichhart) is getting close to finishing the restoration on my 75 w200 crew cab i will have a prize winner sunday go to meetin truck. Too much sweat and money in this truck to take chances without collision insurance. Who determines the replacement value of a restored 70s crewcab? Me , the insurance company?

I can get that covered for you thru Farm Bureau Classic insurance, or Hagerty (I can sell both), and I have two '76 Power Wagons, so I know the old Dodge trucks!

email me and I'd be happy to help you out with agreed value classic car insurance.

JS
licensed insurance agent, Farm Bureau Financial Services
jeffstellish@gmail.com

[KRB64]

Could you give us a synopsis of how that works? How much more expensive is that in general?