Insurance Options for Built FZJ80? (1 Viewer)

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I think I’m paying 600 every 6 months . I’m not sure if it is worth it either to be honest . They couldn’t give me a straight answer as to what I would get in the event of a total loss. They didn’t say anything else besides “recommending to keep full coverage and the 10k add on coverage”
 
I think I’m paying 600 every 6 months . I’m not sure if it is worth it either to be honest . They couldn’t give me a straight answer as to what I would get in the event of a total loss. They didn’t say anything else besides “recommending to keep full coverage and the 10k add on coverage”
Still seems odd to me, since I do not have any add ons and looks like paying even more than you. Anyone else care to chime in?
 
I'm trying to figure this out for my Triple Locked 1997 FZJ80 with 225k miles and goodies. See if my thinking is clear below:

Regular Insurance from Allstate or the like:

If someone hits me and is 100% at fault, I will have to file claim with their insurance. Their insurance will likely not want to pay what the truck is truly worth. They will likely look at KBB, NADA, Used Car Auction, etc. to draw conclusion that its only worth about $6,000-12,000. Obviously, this wont cover the loss. You then have to fight them and likely end up not agreeing. Allstate or other will not fight on your behalf as they would have no skin in the game since the other person was at fault. Even an "underinsured" policy would not help because my own insurance would not be able to value the vehicle any higher. They would end up agreeing with the other person's insurance.

If I hit someone and are 100% at fault, I would have to file a claim with my own insurance. My insurance do the same as above and value it $6,000-$12.000. I would end up having to fight my own insurance for recoup and ultimately end up not agreeing.

Both cases may wind up in litigation at which may end up costing more than what may be available to recoup.

Stated value Insurance from Hagerty or the like:

If someone hits me and is 100% at fault, I would have to file claim with their insurance. Their insurance would only want to pay $6,000-$12,000. We would disagree. I am not sure if at that point Hagerty would step in to cover the remaining or not since its a stated value policy. Hagerty may have to go to bat with the other person's insurance to get further payment.

If I hit someone and are 100% at fault, I would file claim with Hagerty. Hagerty at that point should pay out the value of the vehicle. My understanding is that there is also an option to carry a "sentimental value" clause in there to be able to get the wrecked vehicle back. I would assume that is at some valued amount deducted from the stated value payout?

In my opinion, regular insurance would be a bad option no matter what on these older trucks. Let me know your thoughts...
 
I'm trying to figure this out for my Triple Locked 1997 FZJ80 with 225k miles and goodies. See if my thinking is clear below:

Regular Insurance from Allstate or the like:

If someone hits me and is 100% at fault, I will have to file claim with their insurance. Their insurance will likely not want to pay what the truck is truly worth. They will likely look at KBB, NADA, Used Car Auction, etc. to draw conclusion that its only worth about $6,000-12,000. Obviously, this wont cover the loss. You then have to fight them and likely end up not agreeing. Allstate or other will not fight on your behalf as they would have no skin in the game since the other person was at fault. Even an "underinsured" policy would not help because my own insurance would not be able to value the vehicle any higher. They would end up agreeing with the other person's insurance.

If I hit someone and are 100% at fault, I would have to file a claim with my own insurance. My insurance do the same as above and value it $6,000-$12.000. I would end up having to fight my own insurance for recoup and ultimately end up not agreeing.

Both cases may wind up in litigation at which may end up costing more than what may be available to recoup.

Stated value Insurance from Hagerty or the like:

If someone hits me and is 100% at fault, I would have to file claim with their insurance. Their insurance would only want to pay $6,000-$12,000. We would disagree. I am not sure if at that point Hagerty would step in to cover the remaining or not since its a stated value policy. Hagerty may have to go to bat with the other person's insurance to get further payment.

If I hit someone and are 100% at fault, I would file claim with Hagerty. Hagerty at that point should pay out the value of the vehicle. My understanding is that there is also an option to carry a "sentimental value" clause in there to be able to get the wrecked vehicle back. I would assume that is at some valued amount deducted from the stated value payout?

In my opinion, regular insurance would be a bad option no matter what on these older trucks. Let me know your thoughts...
I tried to go down the hagerty route and there were restrictions on needing to have it in a garage, not being able to tow anything and limits on mileage. I was not impressed with the restrictions. I don't have a garage big enough and I do occasionally tow a small trailer.
 
I tried to go down the hagerty route and there were restrictions on needing to have it in a garage, not being able to tow anything and limits on mileage. I was not impressed with the restrictions. I don't have a garage big enough and I do occasionally tow a small trailer.
Hagerty is best for classic cars and “show cars “ there really isn’t a good insurance policy for 80s besides a stated value of X amount .
 
The only real downer to owning a really cool 80 is the exposure to when sht hits fan.

Even at well past a quarter century old, one can easily daily drive an 80 because it's so well made. 60 is too rickety and slow (cars and coffee rig). 100 bland and boring (not as valuable). The 80 hits the solid axle(s) sweet spot. Tremendous vehicle.

And tremendously difficult to convince big insurance to hold the bag. They're not stupid. They just suck.
  • Garage queen annual mileage restrictions (e.g. 3K miles/yr cap)
  • Fairly strict storage/parking requirements (e.g. 24/7 guard patrolled and video surveilled condo garage doesn't fufill)
Let's say they even pay up satisfactorily. What are the odds that you're going to fall in love with another "well built" 80 that you poured blood, sweat, tears into and made sweet memories with?

You pretty much have to self insure in the spirit of FOMO80YOLO. My 80 is a one and done.
 
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