As a few of you know already... what about AUTO INSURANCE (1 Viewer)

[Laisser aller]

Somewhat concerning as Catherine and I drill down on the budget; Insurance for the rig. A couple of you know that we are gradually downsizing and will probably wind-up pouring some $30K into the 80 for a slow roll across the United States in 2020.

No joke, we have never done anything like this per se but it struck me that there is probably not an insurance company in the United States, maybe CHUBB or some other high dollar underwriter, that will NOT contest the $30K in upgrades on a 20 year old rig if the vehicle is totaled out on the road...

Generally, what kind of policy should I be looking for a circumstance where I expect 20K+ miles and to be essentially living out of an over built used station wagon for one year?

I do not have a fall back like homeowners insurance in case I maim someone in an accident.

 

[sxp]

Which ever company you go with, you will need to get an appraisal done on the vehicle if it has body/suspension mods. You will also have to keep all of your receipts for any add-ons as well. It isn't super hard to get insurance. You just need to make sure that they agree with you on the payout value. I am currently using Progressive, and I have an agreed upon value of $10,000 for my '67 Jeep M715. It is not currently worth that, but that is what it is insured for and agreed upon.

 

[musthave]

My findings were that vehicle collectors insurance won’t cover if you’re driving vehicle more than 250 per year.

I’m still looking for who will underwrite it to my likings.

 

[LINUS]

IDK how hard they are on the miles thing, but I have a simple stated value policy with Hagerty both on the Camaro & E30M3.

The E30M3 they even suggested a $10K increase, it’s not even a runner ATM.
Just the market has gone wonky, so they get if certain cars are worth silly money to replace.

They never ask how many miles I put on the Camaro, never once.
Not like I use it as a commuter though.

 

[Red Merle]

I have some ideas. PM me for those.

 

[COYS]

Haggerty would not insure my Los Angeles based '97 230K miles young jalopy unless it was parked in a private home garage + <3K miles a year. I could probably get an appraised value at around $25-28K max current market.

I think the 80 needs another 5-10 years of value gestation to get me about level with what I've spent refreshing it. For now, I'm just enjoying the ride trying to keep the shiny side up for as long as possible. Average buyer Joe just hasn't yet discovered the gem that is the 80.

 

[Irish Reiver]

How does it work if you are not at fault in the accident and the other guys insurance is paying out.

 

[Red Merle]

How does it work if you are not at fault in the accident and the other guys insurance is paying out.

Depends on the state and the level of insurance you have. WI is a "no fault" state which means nobody is given 100% fault in an accident. Even if you had your truck parked legally on the street and were asleep in your bed, some fault would be assigned to you even if the driver just plowed into your rig in the middle of the night and was drunk AF.

You are better off having a real discussion with your agent and finding out how to cover your rig in any event.

 

[LINUS]

Haggerty would not insure unless it was parked in a private garage

I forgot both mine have that provision too when at the residence....gotta be behind a locked door & 4 full height walls (a real building). But they never ask for a odometer statement from me.

Depends on the state and the level of insurance you have.
You are better off having a real discussion with your agent and finding out how to cover your rig in any event.

^^^ This > anything else.

 

[gungriffin]

Is it possible to do an Stated Value policy like they do on rare vehicles?

 

[Red Merle]

Is it possible to do an Stated Value policy like they do on rare vehicles?

Yes.

 

[COYS]

Specialists like Hagg exist because corporate mega beasts like State Farm has an even lower level of tolerance for risk.

I called my State Farm agent first and they told me to essentially kick rocks. $22k max. I politely told them to pound sand.

 

[ppc]

I do not have a fall back like homeowners insurance in case I maim someone in an accident.

The type of insurance you should be looking for is personal umbrella insurance policy.
As an example: Personal Umbrella Insurance Coverage From Nationwide

An umbrella policy provides a wider range of coverages can be purchased with higher limits at a cheaper cost than just an automobile policy.

 

[Rifleman]

Haggerty would not insure my Los Angeles based '97 230K miles young jalopy unless it was parked in a private home garage + <3K miles a year. I could probably get an appraised value at around $25-28K max current market.

The above is correct for a "stated value policy" with Haggerty insurance*, one more thing, don't even think about cheating them on the mileage limit per year. Oh, i forgot to add a few more important facts, most of these stated value polices only want you to drive those stated miles per year LOCALLY, to, and from local car shows, or local parades.

If your planing on using this type of insurance policy for an overland trip across American while driving off road your looking for problems. If you should have an accident, your going to have a VERY up hill battle getting the stated value out of the insurance company, since you'll be violating the terms of their policy. * When i first posted this reply, i forgot to include Haggerty Insurance as part of my post.

 

[jaymar]

Subbed

 

[Hyup]

I have a stated value policy through Safeco. It's basically full coverage insurance and covers the value of my very extensive build. Costs about $40 per month than what plain liability had been costing me. They said I'd likely have to provide receipts to prove value which I do have for almost everything on the truck.

 

[COYS]

How does it work if you are not at fault in the accident and the other guys insurance is paying out.

If you have an 80 that can fetch $15K+ in the private market, you're effed because all insurance companies will look at kbb or some other whacko database and offer you half that value or less. In CA, you have the right to pursue a third party appraisal, but that costs $500, time, energy, etc.

Everyone loses in an accident.

 

[COYS]

The above is correct for a "stated value policy" one more thing, don't even think about cheating them on the mileage limit per year. Oh, i forgot to add a few more important facts, most of these stated value polices only want you to drive those stated miles per year LOCALLY, to, and from local car shows, or local parades.

If your planing on using this type of insurance policy for an overland trip across American while driving off road your looking for problems. If you should have an accident, your going to have a VERY up hill battle getting the stated value out of the insurance company, since you'll be violating the terms of their policy.

This is the first car I've ever owned that I'd call a classic/vintage whatever you want to call it vehicle. It made me realize that there's a certain level of work, spend, time, anxiety that bisects pleasure, love, obsession that I'm willing to equate as a W. If I didn't appreciate the FZJ80's looks, history, nostalgia and practicality as much as I do, it's a seriously questionable decision to keep it around as my 2nd DD.

So if a dude came up and asked should I get an 80, I'd say buy a mechanically good, cosmetically OK one for $10K or if you push it north of $20K+, know that you're exposed should sht hit fan.

 

[Conundrum]

For anyone looking at a stated value policy, read the fine print. Generally, stated value policy means they will pay the actual cash value or the stated value, whichever is less. ACV has depreciation built in so you could be shorted. Replacement cost is better but still tough to prove a value with all the crap we bolt and weld on to our 80s. It's tough because comps are generally tough to find and adjusters won't really look at ih8mud classifieds as a credible comp. Agreed value is the best but will be tough to find policies that will offer it.

Save all your receipts and keep track of hours written down for installs if you are doing the work yourself. 80s are in that limbo age where we're not classics quite yet and KBB values are not going to help us with the mods we do.

 

[ajax1]

I’m thru farmers with my house life and two other cars, told my agent in person who I have dealt with for awhile I want full coverage plus value of 20k on my cruiser, had to tell him a few mods and showed him what it would cost for replacement, he did it and I can’t remember the cost but it is pretty damn cheap. I’m allowed to drive it as much as I want and he knows it is a trail truck