Insurance for Daily Driver rigs..?

[FJsnoozer]

It's probably a matter of asking the right questions. I can ask around at the independent independent next door.

State farm sells only state farm automobile insurance.

My stated value on my policy is close to what Book value is anyways. I did not get the antique policy which state farm also has because I didn't Wang claims issues if someone hit me when I was obviously using it for non antique use. The difference was like 7 dollars per month.

 

[taro]

FJsnoozer, thanks for the info. If you get a chance, I'd love to hear what you can find out from an independent dealer. I ran out of time today to call my agent, but will call in the morning. Thanks, Taro

 

[crushr]

State Farm stated value policy. Requires an appraisal if significantly above avg market value for model/yr of vehicle.

 

[fieldsken1]

State Farm stated value policy. Requires an appraisal if significantly above avg market value for model/yr of vehicle.

once again a stated policy is different then an agreed policy. when you call your agent ask if they know the difference between a stated and agreed policy. a stated policy means you can state the value to be anything but thats not what they paid in case of a loss. an agreed policy means both parties agree on the value and thats whats paid in case of a loss. allstate and state farm dont cover agreed policies but they underwrite it for one of the big 3 i mentioned earlier. they will however do an stated policy but that means nothing. just ask then if you insure you vehicle for a value will they pay the value if something happins??? what ever you do just get it in writing.. you asked earlier if i use it as a DD well i am not home enough to do so but i do drive it when i can and weather permitting since i have no top yet.

 

[fieldsken1]

if you guys are not going going to insure the car for a big amount but just want insurance just add it to the policy you already have. i can add mine to the allstate policy i have and it would only cost me around 90 dollars for 6 months but i would take a big loss if something happined so i have it insured for more

 

[taro]

Thanks for the continued responses. I've got mine on my existing state farm policy, but I bought it for $5k and it was a rust bucket. Now, I'm having a lot of work done to it out of necessity and it will look much nicer than I ever imagined. I've never had a "nice"car before. I'm getting ready to move to the Miami area and am thinking about what would happen if it were stolen. I have my health insurance through the farm bureau. I guess I'll check them and progressive out as well. And thanks again for explaining the difference between stated and agreed upon policies. Taro

 

[MicahMan]

Utah

FJSNOOZER thanks for the insight. I also sell insurance and am what is called an Independant agent. This allows me to write for
multiple companies.

The agreed value policy is limited to very few carriers and as was stated before this typically is not ok for a Daily Driver.

The antique/classic designation can limit how you use your vehicle as well. Some companies will deny claims that are not on the way to a car show. So if you trash your rig in Moab your toast.

Right now in our office these are the companies I use and how they work for high value older cars:

Safeco will give stated ammount, but burden of proof is on you at time of loss.
Progressive does stated amount but are difficult as far as giving you accurate value for engine swaps etc.
Travelers is more liberal with values and stated amount.
Acuity liberal on values and great claims adjusters that work with you.
Auto-Owners will allow stated amount and has won industry awards for claims satisfaction. We recently had a client get full payment for a 1990 jeep that had probably $50k in upgrades on it. They paid for all the upgrades and to replace the rig.


Bottom line ask questions explain what you are doing with your vehicle and if the agent your talking to can't help walk down the street and talk to the next guy. There are tons of us.

My 1973 is stated at $10,000 right now and I pay $16 a month for full coverage with $100 comp and $500 collision deductibles on my daily driver.

Hope this helps!

 

[crushr]

once again a stated policy is different then an agreed policy. when you call your agent ask if they know the difference between a stated and agreed policy. a stated policy means you can state the value to be anything but thats not what they paid in case of a loss. an agreed policy means both parties agree on the value and thats whats paid in case of a loss. allstate and state farm dont cover agreed policies but they underwrite it for one of the big 3 i mentioned earlier. they will however do an stated policy but that means nothing. just ask then if you insure you vehicle for a value will they pay the value if something happins??? what ever you do just get it in writing.. you asked earlier if i use it as a DD well i am not home enough to do so but i do drive it when i can and weather permitting since i have no top yet.

You are making blanket assertions that I believe are inaccurate and misleading. Stated value policies are quite common and in no fashion do they "mean nothing." I am not aware that State Farm sells insurance underwritten by other carriers. Perhaps in your state but not here. Are these your personal opinions or do you have significant expertise in the areas of personal property/mv insurance policies?

crushr, esq.

 

[taro]

MicahMan, thanks for the info! It seems Acuity doesn't do business in Florida. Progressive referred me to Haggarty, who referred me to State Farm and AllState. I've got calls placed with agents from the other companies.

 

[MicahMan]

NO Sweat!

Your welcome Taro,

I wish I lived there and could help you out. Each state can be so different. Good Luck and see if you can get to Cruise Moab this year!

 

[taro]

Thanks! Cruise Moab-another bucket list destination/event I'll get there one of these days!

 

[DomsFJ40]

FJsnoozer, thanks for the information. I'll try with my agent again. Actually, now that I'm thinking about it, I didn't speak with the actual agent, but someone who works in the office.

DomsFJ40, did your agent act as if your policy was "normal" or was this a special policy?

Fieldsken1, are you saying that if State Farm or anyone else, did offer me an agreed upon value, they would just be the middle man for grundy, hagerty, or chrome? Should I deal directly with them even though I insure another car and motorcycle with State Farm? So you are not using your FJ as a daily driver, correct?



Sully73FJ40, thanks for the info. I'll look into progressive as well.

I am not the expert that fieldsken1 is, I called my agent to be sure and she said I have the FJ insured for 10k It is my daily driver with Reg plates. Va does the collecter plates but if I did have the collecter plates then i would have to have pics, apprisal all kind of other wickets. I have been with state farm for 25 years and when my '67 mustang was hit and totaled, they paid. These are the facts as i see them.

 

[taro]

DomsFJ40, thanks for your reply. What was bothering me was that I couldn't get the rep to state a figure. As of now, I have a few people working up some quotes for me. When they do, I'll talk to my state farm agent again.

 

[1911]

State farm, like all of my other regular drivers.

 

[taro]

1911, thanks for your response. I was told today that Safeco offers a policy, but that they wouldn't cover any loss sustained if it was off-road. Not that I'm planning to take it rock-crawling, but what's the point of getting a land cruiser if you're not going to take it off the beaten track?

The other policy that was found was actually from progressive, an agreed upon policy. I called my state farm rep to see if they could offer anything similar, but anticipate moving over to progressive. I haven't heard back from anyone else yet.

 

[ar2stp48]

Have mine with State Farm. On the last renewal (August), I had to have an appraisal. Local agent insisted this was a policy that affected all renewals. I am running antique tags and registration on the '72; have full coverage and the cost is $40 per quarter.

From a past experience:
1) have good coverage in the "under insured" section.

2) keep ample proof of value should you have to deal with another driver's company. Very bad (horrible) experience with Allstate wanting to settle for max of $2500; with work, I got $12000 for the '78 several years ago

 

[taro]

Ar2stp48, thanks for your input. Allstate, was also on the list to check. State farm will cover me if I put antique plates on it, but not as a daily driver.

 

[1973barnfind]

Hell, i just trailer my fj around

because 1, O.H.V. florida tags are next to nothing;
regular Florida tags, Florida will tell me to bend over for $500 and some change

and then insurance.... aparently on paper im a 19 year old kid who is dangerous with a 37 year old vehicle that topps out at 55 mph. and every company wants waaay too much money.

what a rat race

 

[taro]

tell me about it. My $5k daily driver is turning into a not so cheap proposition

For anyone who cares, at this point, auto owners is the front runner with progressive in second place.

 

[neilhank202]

Re:

Try The Hartford; they do classic and antique car insurance and I have my F640 insured at stated value with them for a pretty reasonable rate.