insurance question

[Cruiser804]

I just bought "classic" car insurance through USAA. They have secondary company Modern American ro something.

Cost me 182/year, 20k coverage for the truck and the same liability, collison as the policy for my other vehicles. But, 6k a year in driving, can't leave it in a parking lot unattended, garage kept etc.

 

[gotopless]

trying to figure out an insurance solution for myself also. Just got off the phone with Hagerty. I held for 10 minutes while she double checked on this.....absolutey NO trail coverage. There is not a mileage limitation, but all driving must be for pleasure.... cannot be a backup DD, weekend "errand runner", farm vehicle, or stuff like that. She was very nice (as advertised) and coverage for $10k was about $250/year, but they will not pay if an accident happens while "driving" off a paved road.

hi there i just called hagerty and they were nice 30,000 cost 448 a year full coverage not bad i also told them they should advertise on this site. and they said they would cover if it happin while i was four wheelin as long as it was just trails

 

[jfrench]

Is there any company who provides insurance coverage for a daily driver with an agreed price? Would this type of policy be too expensive to even consider?

Or do people with DDs get stated value policies and accept that they may only get NADA $ if totaled?

Or do people get agreed value policies and just lie like rugs if in an accident?

Seems to me there has to be something out there for someone who lays down top dollar on a restoration with plans to use it as a DD.

 

[KrishMedia]

There is MUCH value in having an insurance agent you trust in matters like this.

IN MOST CASES... When a vehicle carries collision, uninsured motorist, or comprehensive coverage. The damage usualy needs to reach a "threshold" (75% in most states) of the actual cash value before it gets salvage title branding. Also, there are isolated cases where the insurance company will total a car because of the type of damage but it will not get a salvage title because the numbers dont require it.

Actual cash value (with name brand carriers, i.e. allstate, state farm, geico) is more than just Kelly Blue Book. They actually pay a 3rd party company to see what cars like yours have sold for in the area. Deductions or Credits are given based on your vehicle's milage, condition, and options. This being said... it may still end up being less than what you feel your vehicle is worth -- hince the availibilty of an agreed value policy.

There are specific rules for each state.. Each state has their own querks.
In Texas for instance, a collision who's damage minus taxes is 75% of the actual cash value will prompt the state to issue a salvage title, but hail damage that is 200% of the car's value will not. Each vehicle and state should be viewed on a case by cases basis.

My suggestion is to have comprehensive and uninsured motorist coverage on all your cars. If you can afford liability coverage, you can likely affod the extra 30/month that will cover you if the car is stolen, dropped off a trailer, or hit by an uninsured motorist.
If you have the FJ fixed up, or are worried that your car is worth more than a market analysis says - then look into an agreed value policy with a main stream company.

Just my thoughts

 

[fieldsken1]

Ken,
Did you get that in writing or just orally? If in writing, you should be golden.

Thanks.
Dan

i got it in writing

 

[TLCHopII]

Mines and the wifes, daughters,... vehicles all with allstate the cruiser is insured under an agreed upon value based on evidence provided at the time of signing up. Evidence was in the form of bill of sale, numerous e-bay and craigslist listings, local sellers adds, itemized list of upgrades with current (to that day) pricing; proof a rarety in my area. Did not list it as daly driver but di clearly declare it as dual use (on & off road) recreational vehicle. Did not go "classic" as this would have limited the miles too greatly for my tastes.

Went through the rep in my area and gained a friend in the process.