Insurance Companies? (1 Viewer)

[Scota4570]

I have a '92 LC also. I have a regular insurance policy with a mainstream company (Amica) on the 92. I just changed the 1970 to Hagerty. Hagerty has a program where you can retain a totaled vehicle. Amica does not. IN the past I was lowballed on a vehicle that was totaled. Blue book on the '92 is extremely low, $4700. Fair market value is about $23K. IN the past an insurance company seized my vehicle then refused to give fair market value.

What should I do to avoid this kind of nonsense? Transfer the '92 to Hagerty too?

 

[leonard_nemoy]

I want to know what 1992 fj80 is worth $23k......

Personally I was so impressed that I was able to secure $10k from state farm after buying back my totalled 91 that I will continue to do business with them. They also offered me $12.5k with no buy back.

 

[Scota4570]

What '92 is worth $23K? All the nice ones...........

https://www.carsforsale.com/1992-toyota-land-cruiser-for-sale-C119968

They sell for a lot. SELL FOR.... Then you must add tax. To replace the vehicle will cost about $25K. They call it Actual Cash Value (ACV). Insurance companies try to cheat you by lowballing. I have had to fight in the past, I'd rather get insurance from an honest company.

KBB is delusional about undervaluing desirable used vehicles. It appears to be a scam.

Pervious poster, if that was recent, $12.5K was half the replacement value.

 

[leonard_nemoy]

What '92 is worth $23K? All the nice ones...........

https://www.carsforsale.com/1992-toyota-land-cruiser-for-sale-C119968

They sell for a lot. SELL FOR.... Then you must add tax. To replace the vehicle will cost about $25K. They call it Actual Cash Value (ACV). Insurance companies try to cheat you by lowballing. I have had to fight in the past, I'd rather get insurance from an honest company.

KBB is delusional about undervaluing desirable used vehicles. It appears to be a scam.

Pervious poster, if that was recent, $12.5K was half the replacement value.

Well maybe if you have something real special it's worth special insurance but my modified 91 with 290,000 on the odometer wasn't worth much more than $12k lol.

You might call some local insurance companies and see if any of them will do a stated value policy.

 

[Broski]

What '92 is worth $23K? All the nice ones...........

https://www.carsforsale.com/1992-toyota-land-cruiser-for-sale-C119968

They sell for a lot. SELL FOR.... Then you must add tax. To replace the vehicle will cost about $25K. They call it Actual Cash Value (ACV). Insurance companies try to cheat you by lowballing. I have had to fight in the past, I'd rather get insurance from an honest company.

KBB is delusional about undervaluing desirable used vehicles. It appears to be a scam.

Pervious poster, if that was recent, $12.5K was half the replacement value.

There asking a lot on that site, it actual sales that count.

The last to listings are more realistic !

How many miles are on your rig. Not many 100K miles rigs out there.

 

[Scota4570]

There asking a lot on that site, it actual sales that count.

The last to listings are more realistic !

How many miles are on your rig. Not many 100K miles rigs out there.

https://www.cars.com/shopping/results/?list_price_max=&list_price_min=&makes[]=toyota&maximum_distance=all&mileage_max=&models[]=toyota-land_cruiser&page=1&stock_type=used&year_max=1994&year_min=1990&zip=95077

https://www.cars.com/shopping/results/?list_price_max=&list_price_min=&makes%5B%5D=toyota&maximum_distance=all&mileage_max=&models%5B%5D=toyota-land_cruiser&page=2&stock_type=used&year_max=1994&year_min=1990&zip=95077

The lowest prices examples would be considered "totaled" by an insurance company and they are still priced above blue book.

I think that quality used vehicles are getting much more desirable because modern vehicles are designed to destroy themselves about the time the warrantee expiries. The truth is that most modern vehicles are expensive junk. The more electronics and cost cutting features that are employed the lower the reliability and longevity. Ipad on wheels, wet belts, useless sensors, turbos, and novelty features are not for me. More and more people are like me, they refuse to participate in such foolishness. Therefore prices are going up on simple, serviceable, quality older units.

 

[leonard_nemoy]

Therefore prices are going up on simple, serviceable, quality older units.

I keep telling this to my wife everytime she complains about me

 

[Broski]

Again it sold prices, not asking.
A lot of people are still asking Covid prices, rig are much slower to sell today and prices are dropping.
Low mile examples bring the most 100K or under the 200 plus k mile 20K 91 92 trucks don't move JMHO and I watch the market
You still haven't said how many miles are on your truck.

 

[Scota4570]

Interestingly NADA has much higher evaluations than Blue Book. $19,300 average.

https://www.jdpower.com/cars/1992/toyota/land-cruiser/4-door-utility-4x4

My purpose it not to argue about prices. My purpose it to determine what I must to do insure my vehicle such that I can buy a similar vehicle with the settlement. The exact price is not important to the question.

Mine has 200K. It has no rust. The body has no damage. The paint is all good and well maintained. All systems work as designed. The powertrain is in excellent condition.

 

[REKCUT]

So, to answer one of your questions. When your truck is wrecked, you generally take it to body shop. The bodyshop can't release the vehicle to the insurance company until you give them permission. Never give permission until you have settled on price. Most body shops I have worked in with charge the insurance a daily fee to keep the vehicle stored at their location. Possession in 9/10 of the law. NEVER give the truck back till you're finished. If the body shop won't help you with this, go somewhere else.

My experience, and I negotiate with insurance companies almost daily, is that having insurance just means you in the fight. If you don't have insurance there is no fight at all. You have to scrap and fight for every dollar.

All that being said , you live in the socialist republic of California so no telling what kind of laws they have there pertaining to this conversation.