Insurance Man

[krzyabncanuck]

I know there is an insurance man here in NC that either used to do it or still does. I need some help with something here.

This 45 that i am working on i need to get insured once i get it on the road, or ready for the road.

Anyway i need to find out the value of this thing andsomehow work all of that into replacement i hope for this thing. Should i go for the antique side or is there a better way of doing this ?

Thanks much

 

[cruiser4life]

Darin -

PM Cruisin' Carolina. He seems to have a firm handle on insurance issues and should be able to shed some insight. Not necessarily write a policy but he'd point you in the right direction. He's lives just across the state line in SC (and does business there) but used to have an NC license.

I've worried about this very thing with my 40. While my 40 is not in the primo condition your 45 is going to be when you're done with that beauty, what I paid and what insurance would give me if it were totaled are 2 very different figures I believe. I don't want to be in that situation and really don't drive the 40 around town that much as a result. It's simply insured as a 77 Toy FJ40. The mods alone are prob worth two or three typical condition 77 40's...

I'd be interested to hear what you find out.

 

[worldcruiser]

You can have the liability portion of your insurance written through a standard liability policy. As far as the comprenhensive and collision coverage. You can insure it with another company for an agreed value for your truck. They will not tell you how much your truck is worth they basically will insure it for the amount you want it to be insured for.

We use mostly a company called JCTaylor...which is the one I am going to use in a few weeks since my restoration is basically finished.

 

[rutbeer]

There's a guy in our club that owns an insurance company. His name is Jim Glasgow and he runs a Nationwide. If you want, I'll send you his #.

 

[Cruisin'Carolina]

You can have the liability portion of your insurance written through a standard liability policy. As far as the comprenhensive and collision coverage. You can insure it with another company for an agreed value for your truck. They will not tell you how much your truck is worth they basically will insure it for the amount you want it to be insured for.

We use mostly a company called JCTaylor...which is the one I am going to use in a few weeks since my restoration is basically finished.

krzyabncanuck,

The above sounds like a good idea, I have not personally done any of my (former) collectibles that way.....Worldcruiser or the Nationwide guy should be able to quote you, or give you an idea of rates, since it might be a better idea to find someone locally, if having an agent is important to you....

I used stated value for my Mustangs through my own existing carrier. You basically pay a premium for what you say it is worth, and if a claim is ever presented, you have to back up your appraisal. The condition and valuation of my cars was not in question. This type of policy also does not have some of the yearly mileage restrictions some antique policies have. I liked to drive my cars and did daily to the office.

I think there is also what they call agreed value. This might come into play if you have had an appraisal, and the company accepts that figure up front. I think, but am not sure (I readily admit I am licensed for P&C, I just do not do it daily) this is similar to the antique policies you can buy from the biggies advertised on Speed or in Heming's Motor News....

Lots of options out there, I'll try as I'm sure Worldcruiser will to point you in the right direction. He might have more latitude since it sounds like he has access to independent firms in NC, I am captive in SC.

Also try a search, there have been several threads IIRC in the past year or so since I've been here.

 

[worldcruiser]

Good info CruisinCarolina
I have officially insured my Fj40 today with Nationwide Insurance
Nationwide Insurance offer classic auto insurance and antiques to its P&C Customers. The classic auto rating is based on the car being over 10 years of age and valued higher that other vehicles same model/age, there is not limit on miles driven and it is an agreed valued policy meaning you name your value but at the time of a claim this value needs to be backed by an appraisal. I recommend to appraise the vehicle before agreeing on value. For the antique rating, the car has to be over 25 years old and maintained mainly for shows and parades therefore having a restricted use P&C (property and casualty) is the lowest rated/risk tier within the Nationwide Insurance company. For a customer to qualify he/she has to have no major violations within a 5 year period, continuos auto insurance coverage for at least six months with no lapses with another company or a year with Nationwide and over three years of license experience. Those are the three basic requirements.

If anyone is interested to find out if you meet the requirements I can run your information and find out.

Bytheway, any other company like, JCTaylor, Grundy,Hagherty etc..will require that the vehicle is locked in an enclosed area and there are usually restriction on miles driven Grundy being less strict on milage. Nationwide Insurance do not require the car to be store in an enclosed are or restrict any miles if the car is under the "Classic" status.

Pm me if you need more info...Bytheway I am a Captive Nationwide Agent as well.

 

[Eskimo]

Nationwide wouldn't touch my junk once I answered the question "Has it been modified in any way?" with "It would be easier to tell you what's not modified".. I've got liability, but REALLY want full coverage for when I'm towing it.

(Stays in a locked garage, 50 miles a year total)

 

[krzyabncanuck]

See my biggest thing for this thing is, I do not want them to look it up in there book and say, well its only worth 850 bones so that is what we are going to insure it for. Its not going to be a daily driver but i'm not too sure how many miles i can drive on it if it has antique tags on it either. Guess i will look that one up one of these days.

Heck i still have along way to go before it is road worthy. Heck still got to get the clutch hub in one day from the stealership.

 

[worldcruiser]

Nationwide WILL insure them. Remember you have to qualify into Nationwide's P&C company. (P&C) = Prefered tier

If you qualify for P&C you can insure your FJ40 as a classic with no mileage limit and any claims will be settled based on a 3rd party appraisal. That is why it is better to have it appraised before you insure it.

Both of your questions were answered on my second post above.

 

[45Kevin]

I have my 45 insured under a classic policy. It cannot be used as a daily driver and there is a milage restriction that can easily be adapted to long trips if you want. The company required photos from all angles and interior. It costs me less that $200 per year for full coverage. If I provide photos of spare parts they are also covered for fire and theft. I am in Canada so this info may be useless to you.

 

[cruiser4life]

Nationwide wouldn't touch my junk once I answered the question "Has it been modified in any way?" with "It would be easier to tell you what's not modified".. I've got liability, but REALLY want full coverage for when I'm towing it.

(Stays in a locked garage, 50 miles a year total)

Hmmm. I've had the same issue. I have full coverage right now as a stock 77 FJ40. Of course, if something were to happen (stolen, totaled, etc.), I'd be SOL big time and which is why I take it out on a very limited basis right now. My 40 is worth more than my 80 or one of my 100's.

Maybe I just haven't asked the right questions or talked to the right people as worldcruiser suggests...

 

[worldcruiser]

Hmmm. I've had the same issue. I have full coverage right now as a stock 77 FJ40. Of course, if something were to happen (stolen, totaled, etc.), I'd be SOL big time and which is why I take it out on a very limited basis right now. My 40 is worth more than my 80 or one of my 100's.

Maybe I just haven't asked the right questions or talked to the right people as worldcruiser suggests...

If you insure it on a agreed value policy which is backed by an appraisal you should get whatever you and your insurance company agreed to insure the vehicle for minus any deductibles.....if you have a full coverage policy which is not agreed value you are definetly taking a risk as you said above.

Same thing applies for eskimo you should have an appraisal on how much your car is worth including modifications.

Now if you are into heavy off roading or competitions and you totateld your vehicle that might complicate things when it comes down to settling a claim. My cruiser will not see any heavy off-road even though it is equiped for.

 

[Eskimo]

I wouldn't make any claims if it turns into a ball o' metal off road - I cannot STAND the guys (mostly kids) who do that.. it's the house fire possibility, or more likely, a wreck while on the trailer that worries me.

I don't think I fall into the preferred tier, i dunno, maybe I do.. we'll see once the wreck she was in gets done with mediation.. (Black SUV hit her while she was pulling out of a unlit parking lot at night - SUV didn't have its lights on)

Heck, I outta call you and have you work mine up.. I'm with Linda Tice right now in Apex (never set foot in the place), but damn if I wouldn't rather help a 'wheeler, and a Cruiser guy at that!

 

[worldcruiser]

ESKIMO I can run your info and find out if you qualify for P&C so that way you know where you stand if you call your current agency and ask them for a requote. Unfortunately if someone is currently with a Nationwide agent another agent is not supposed to take that other agents customers, the policy could be transfered for reasons of customer relocating. One thing I want to recommend to anyone who is currently with Nationwide Insurance is to MAKE SURE YOU ASK IF YOU QUALIFY FOR A BETTER RATE EVERYTIME YOUR POLICY RENEWS. ASK,ASK,ASK Sometimes our system does not automatically let us know if a current customer qualifies for a better tier.

 

[cruiser4life]

I always ask Allstate...and they laugh.

You'd think for 5 vehicles, clean driving record, home owners policy, umbrella policy and using the same office for 10+ years, they'd cut me some slack but no...

I'll be switching soon.

 

[worldcruiser]

well sometimes the person does not qualify for a better rate.....I have some people at our office who are at the lowest premium tier and there really no other way to take their rate down. Now if someone is not even taking the time to look at your situation and checking for you they do not deserve yor business. Being that you have been there for so long they should definetly try their best to keep you.

 

[cyber_mud]

about your corcern

I know there is an insurance man here in NC that either used to do it or still does. I need some help with something here.

This 45 that i am working on i need to get insured once i get it on the road, or ready for the road.

Anyway i need to find out the value of this thing andsomehow work all of that into replacement i hope for this thing. Should i go for the antique side or is there a better way of doing this ?

Thanks much

hi
One thing to be aware of is how much the deductibles are vs. the monthly premiums. YOu could pay a lesser monthly premium but higher out of pocket costs. For a farily healthy single person they always say you can get away with a high deductible,low monthly plan, but that's assuming you rarely have to go to the doctor. check http://www.insurance-quote-free.com they provide quote from diff insurance companies, choose what fits for you.

best of luck
jend ferrier

 

[worldcruiser]

hi
One thing to be aware of is how much the deductibles are vs. the monthly premiums. YOu could pay a lesser monthly premium but higher out of pocket costs. For a farily healthy single person they always say you can get away with a high deductible,low monthly plan, but that's assuming you rarely have to go to the doctor. check http://www.insurance-quote-free.com they provide quote from diff insurance companies, choose what fits for you.

best of luck
jend ferrier

Jend,
A persons health, age or how many times they go to the doctor does not have anything to do with auto insurance.

 

[cyber_mud]

you have a point

Jend,
A persons health, age or how many times they go to the doctor does not have anything to do with auto insurance.

yes you have a point that just for an instance but you see if you have a good premium and having a fixed rate, would rest assured your future.
Sometimes insurance companies (i.e. Geico, Progressive, statefarm) that insure you over the phone will give you an INITIAL quote, which sounds pretty good. But then they'll look up your record and that quote will change.

 

[Cruisin'Carolina]

Imagine giving a quote based on a clean record (which we are usually told is the case) and modifying it to accomodate reality!!!

I would stay away from any type of bait and switch quoters....All I know is that we don't play games, it is not worth it.

I would add more, but from the content of your first two posts, I'm not really sure it would be productive.