Restored fj40 insurance

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I recently restored an fj40 and the requirement is FULLY enclosed garage. Must sell unless anyone knows of classic or other insurance that will cover my fj.
 

SOAZtim

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Ask to see a copy of the forms and read them or ask a friend in insurance to read them. I got CHUBB insurance initially, but again the requirement to have a garage killed it. (I have a carport)
So, I got the USAA forms and it says market value. I switched to them. You may have to fight with an adjuster a bit on what you think market value is vs what they think it is, but I keep a doc file with current similar sales and auctions to show what the value is. Mines not restored, but I work in Insurance so I went with a carrier known for paying out fairly easily and "usually" willing to accept data from the claimant regarding what the value is.
 
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If it is restored would want to have a declared value policy. Prices are over the place to risk it. My 70 is a non restored 40 but went with a declared value since its so original including original paint in good condition. But also have it in a garage. Wouldn't have bought if I would have to park it outside. Freshly restored would keep it in a garage to protect my investment from the elements. Five years from now the fresh restore won't look so fresh if it's been park outside.
 

David70FJ40

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I have Haggerty. The covered my 40 with $45k agreed coverage in a car port open on two sides. Yearly cost is less than $400. I had it towed twice from the shop I use for paint and body and they were extra helpful in getting someone out immediately.
 
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Interesting how different the quotes are. I have full coverage with $40K agreed value, car sits outside (for now until I find a tall enough garage LOL), through State Farm at $220/year!
 
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@Downey is right State Farm limited me to 2500 miles a year for collector car / car shows but only 300 a year for 40 grand coverage

Good information. Did you have a appraisal? Hagerty just wanted a bunch of pictures partly because it not restored but original. Wanted pictures to show what shape it was in. Next time around need to shop around as I'm sure the value has gone up since I bought it six years ago. I'm more than covered my investment and since not restoring it my investment in repairing a few things is almost nothing.
 

Xpnsv72fj

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I have haggerty and carry 40k on mine as well, however all my other autos are though state farm and they have pretty good classic car coverage. All classic car policy's that I know of have mileage limits. As stated above see if state farm has a declared value policy.
 

Xpnsv72fj

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One thing to remember with harrerty, if you are currently restoring your 40 you can let them know and it will be a huge savings with the same coverage.
 

mrboatman

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I had asked state farm to up the insurance a year ago and the denied me because it was not painted!! So a year later It is painted and I went back up to state farm and asked to increase my value so the rep took all the same pic`s (front, Rear, Both sides, Engine and Inside) this time they said okay no problem. Go Figure they don`t understand unless it just looks good !!
JP
 
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i have two unrestored 40's, rust free, that i like to use as daily drivers here in the dry desert of central oregon. i wanted an agreed value policy only that would allow me me to drive daily, AND not have to be garaged. hagerty, state farm all required proof of vehicle being garaged. state farm would not even issue an agreed value policy so i am surprised to hear other have it. my question, on their declaration page, does it clearly state "agreed value." two company offer policies that would do that. Grundy out of maryland (underwritten by AIG) that can insure in all 50 states under their MVP program, and safeco (Liberty Mutual). i shop yearly for policies, and am willing to switch when prices with one company get to high. i am currently with safeco. my declaration pages clearly state "agreed value in result of total loss." i previously had grundy, and their declaration pages stated the same. i had lengthy discussions with many agents about what i wanted. most would say that stated value policies will cover you. not true. they will look at blue book value, and then you have to prove stated value through receipts, market value, etc. both grundy and safeco, when i talked to local agents, and people at corporate stated that an agreed value policy would be paid out at agreed value, no questions asked. neither one did i have to provide pictures of any kind. that said, i have never had a claim, so i cant say for sure they won't try and screw me. the amount i have them insured for is $25k. there was no questioned asked on that amount. i figure i am paying a premium on that value, so they have no need to question it.

andy

insurance market change all the time, to keep competitive. so companies like state farm and all state, etc might have agreed value policies now.
 
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