"Stated Value" insurance (1 Viewer)

[adamophoto]

I see old threads, but there has to be more current info...
I have a rust-free 62, fully armored, LS 5.3 swap, Locked 80 series chassis swap. (Well i get it next week with the new chassis)...
I'm currently paying next to nothing for a standard Geico Policy, but if I total it or it gets stolen, they'll give me like $4k.
It's a daily driver, i don't own another car.
Who knows the best insurance companies for full coverage, that will pay me what I think it's worth?
I drive it less than 15k miles a year, as my daily commute is less than a mile. Almost all my miles are road trips.
If i want a policy to cover say, $35k, $45k, or more, what kind of policy should I ask for, and with whom?
Thanks!

 

[rrv333]

I'm with State Farm and my "agreed" upon value for the 40 and 62 is 35K a piece. I have a mileage restriction but neither of mine are daily drivers so my situation is a little different from yours. If I remember correctly, I just called the agent and told them what I wanted to do concerning the stated value of each truck. They said no worries and sent me the paper work to sign.

 

[adamophoto]

Another question would be if there are any restrictions for being off road... or out of the country. I believe I just buy insurance for each country I’m visiting, correct?

 

[rrv333]

Other than the mileage, I wasn't given any additional restrictions. Buying insurance when visiting other countries is sound advice. I always have bought it just for the peace of mind.

 

[gregnash]

@powthief19 for the insurance aspect.

 

[joebattle1]

I would try Haggerty. That’s who a ton of Hot Rod guys use.

 

[FJACS]

I would try Haggerty. That’s who a ton of Hot Rod guys use.

Perhaps Hagerty has other options, but my policy with them requires that I have a separate fully insured daily driver.

 

[SteveH]

Most collector car insurance doesn't allow offroad use, doesn't allow daily-driver use, and has a low yearly mileage limit. JC Taylor required me to have another 4WD as my DD, so that I wouldn't be tempted to use my FJ40 on snowy days. I now have Grundy, which is cheap, but with a number of restrictions. I think what you're asking is a tall order, but there may be someone out there who can write such a policy.

 

[doug720]

As with rrv333, I have State Farm. They required an inspection, we set a value, I choose 7500 miles a year for a lower rate, no daily driver restrictions, no off road restrictions.

According to my agents - I have vehicles and home insurance in 2 States with different agents, but all with State Farm, if a loss occurred, they would pay off on value agreed, with an provision to increase payout with receipts and recent sales prices of similar vehicles.

No losses to date, so???

The 60 costs about $475/yr for full coverage with same limits we have on all of our vehicles. Discounts I recall - Good drivers, no tickets, long term policy holder (35 years) garaged at night, 7500 miles/yr, multi car, multi home, maybe others ???

Insurance is a necessary pain, good hunting.

 

[adamophoto]

This is what I’m looking for. Any other option like this, for shopping sake?

 

[powthief19]

my recommendation would be to find a local INDEPENDENT insurance agency in your town. Independent insurance agents can offer you products from multiple carriers. I would get access to American Modern for your stated amount policy. quality product and cheap.

 

[NCFJ]

I'll second speaking with an independent insurance guy. We own a small farm with varying equipment and buildings my business and my wife's. We insure all through one agent, separate policies. My 02 tow rig and trailer have special insurance to cover whatever it is that I am hauling, including expensive Land Cruisers. It's really not that expensive for the coverage.

Sit down with an agent, explain to him/her what you've got and how much you would be happy with. Bring documents and comps of sales etc and cost of improvements. A good agent will walk you through it without issue.