What are you guys doing for insurance – do any of you have an agreed-upon value for your rig? (1 Viewer)

[DSRTRDR]

I was able to get agreed value with Safeco for the 40 and my hubby's Blazer in 2005, but they have pulled out of that market since Liberty Mutual bought them - I also was not able to get agree value (nor stated value, for that matter) with Liberty Mutual

it took some time, but now we have agreed value with Travelers on all of the wheelers in AZ (with a yearly mileage restriction, but no Offroad restriction), except the GX

when I inquired with Hagerty, they always insisted on a no-Offroad restriction, so dead for us as an insurance option

 

[David Norris]

I had to do that on our flooded Mercedes with Progressive - it worked

and some 25 years ago, I was able to haggle $1000 more out of the insurance for a totaled Hyundai, but back then, they didn't require the VIN numbers to be in the advertisements they would consider

Most insurance policies have a “Appraisal clause” written with in them. In fact I think State Farm is one of the few whom have written the language out of their policies. They did this to have complete control of settlements. It’s been argued that their doing this was illegal because it goes against bill #25 in the consumer bill of rights. Any how my recommendation to anyone that has a total loss on any car would be to Never accept any proposed offer based up a Market Valuation Report that the insurance company has to provide you until you’ve done your due diligence to see if the market valuation is in line with what you believe said vehicle is worth. If you not sure seek the help of a professional such as Vehicle Value Experts | Auto and Vehicle Value Appraisals - https://www.vehiclevalueexperts.com/
KBB and NADA are decent tools but they are NOT the Bible on vehicle valuation. For example: my 2010 Porsche 911 Carerra with 17,500 miles currently shows to have a KBB value around $46k. Go try to buy one for that! The real market on my car is north of $60k. So the point is never ever trust yours or anyone else’s insurance company. They ALL have one goal and that is to collect as much of your money as possible through your premium and when it comes time to pay a claim they will do anything and everything to pay out as little as possible and they are relying and praying for your ignorance to not challenge their under indemnification.

 

[David Norris]

Sweet

This is my 70 Ram Air IV that I've had since high school (all numbers matching)



Drove her all through college, but decided to take her apart for restoration back in 2000

When my shop got slammed with work, she was put on the back burner and has been in pieces eversince

Last month I took a few days to get her back in one piece to transport to another shop for a full rotisserie restoration

What's funny is that even in this condition, she's worth twice as much as her completed Ram Air III sister

Which brings me to my next question

I've had several big offers for the RA4 as she sits and although I don't have any plans on ever letting her go (she's my baby), I would like to get a policy that will cover her while she's being restored....

One of the main reasons I kept her in my shop all these years is my fear of another shop pulling a Hennessey and either parting her out or closing up shop altogether while shipping her overseas or sumthin

Hagerty offers a "Vehicle Under Construction" policy, but how would I go about getting an agreed value on a shell and a box of parts?

Even with all the PHS documents, the book value isn't anywhere near what I've been offered

Wow!!! What a collection! So that’s a 455SD That I see unrestored? I’m not sure how to direct you on the Agreed value through Hagerty other than going through the motions. But I would agree with you in the fact that they are not going to have an agreed value anywhere close to where you would want it to be for the simple fact that the vehicles unrestored. On the other hand being that the vehicle is not being driven at all, this may make an insurance company feel a little bit more comfortable in the fact that they may not suffer a loss at all that is unless you’re building Burns down... but those are completely bad ass cars! In addition to my 911 and the 80 I also have a 1970 340 Duster that I took from my took who bought it brand new in 1969. It’s not worth anything close to your Ram Air or SD but it’s still a joy to have. Say..., I should drive it some time...

 

[98 SNAKE EATER]

Wow!!! What a collection! So that’s a 455SD That I see unrestored? I’m not sure how to direct you on the Agreed value through Hagerty other than going through the motions. But I would agree with you in the fact that they are not going to have an agreed value anywhere close to where you would want it to be for the simple fact that the vehicles unrestored. On the other hand being that the vehicle is not being driven at all, this may make an insurance company feel a little bit more comfortable in the fact that they may not suffer a loss at all that is unless you’re building Burns down... but those are completely bad ass cars! In addition to my 911 and the 80 I also have a 1970 340 Duster that I took from my took who bought it brand new in 1969. It’s not worth anything close to your Ram Air or SD but it’s still a joy to have. Say..., I should drive it some time...

SD455 wasn't available in the Trans Am until 73, in which they built around ~4800 or so

Both of mine are 70's with 400 motors (one Ram Air III, the other Ram Air IV)

Only 88 RAIV's made with just a handful in Lucerne Blue as most were ordered in Polar White (only two colors available on the T/A that year)

And only 1 made in Lucerne Blue with 2-Tone Blue interior (mine)

1970 Pontiac Firebird Trans Am Listed For $250K

This may be one of the finest examples in existence.

gmauthority.com

I figure it will take at least a year for the restoration and with shops closing down left and right due to covid, I just want to do everything I can to make sure I'm covered

 

[Rifleman]

SD455 wasn't available in the Trans Am until 73, in which they built around ~4800 or so

4802 Trans Am's were made in 1973, of that 252 were super duty Trans Am's with a total of 72 being stick cars. In 73 you could order your Trans Am in 3 different colors, Cameo white , Buccaneer red, and the super rare one year only color, Brewster green.

Both of mine are 70's with 400 motors (one Ram Air III, the other Ram Air IV)

Is the casting number on your Ram Air 4 cylinder heads #614 or 722? I ran the 614's on the 455 i had in my 1973 Trans Am.

 

[98 SNAKE EATER]

4802 Trans Am's were made in 1973, of that 252 were super duty Trans Am's with a total of 72 being stick cars. In 73 you could order your Trans Am in 3 different colors, Cameo white , Buccaneer red, and the super rare one year only color, Brewster green.
View attachment 2543621

Is the casting number on your Ram Air 4 cylinder heads #614 or 722? I ran the 614's on the 455 i had in my 1973 Trans Am.

614's (I also have two spare sets of 614's to play with)

The 722's were mainly for the 69 cars

 

[pawnthatdude]

So to summarize this thread on insurance you can do the following:

• Just have liability, hope your Cruiser doesn't get damaged.
• Get a regular comp/collision policy. Then pray they value your Cruiser correctly in the event of a claim. Or be willing to fight if they don't. Maybe get shafted either way.
• Get a stated value policy. Then get paid bubkis because it's the lesser of your stated value or the "actual" value of the Cruiser according to the insurance company.
• Get an agreed value policy. Then have either big mileage limitations, storage limitations, or use limitations.

Honestly that all sounds like crap.

 

[spc7669]

So to summarize this thread on insurance you can do the following:

• Just have liability, hope your Cruiser doesn't get damaged.
• Get a regular comp/collision policy. Then pray they value your Cruiser correctly in the event of a claim. Or be willing to fight if they don't. Maybe get shafted either way.
• Get a stated value policy. Then get paid bubkis because it's the lesser of your stated value or the "actual" value of the Cruiser according to the insurance company.
• Get an agreed value policy. Then have either big mileage limitations, storage limitations, or use limitations.

Honestly that all sounds like crap.

Well that sucks. I was hoping this thread could give me a direction to go.

 

[davidrh]

Hagerty wanted sumthin like $1900+ for an agreed policy of only $40k on my Cruiser

Compare that with my 29 coupe and 69 Road Runner, both of which have $40k agreed policies in place for only $400 bucks a year

And with the T/A, only $602 for an $80k agreed policy, so the difference is HUGE

I have a Sienna as my daily, so the 80 only sees weekend beach duty

I asked them if this would be considered "Off-Road Use" and they said no

Here's the thing, it didn't cost me anything to add the 80 to my current policy with Flo (same price as if I only had one vehicle) and it has the same full coverage as the SIenna

That being said, if I were to get a policy through Hargerty for my 80, can I just leave the same coverage I have with Flo since it's not costing me anything to do so?

The agent at Hagerty said there should be no legal issue having multiple policies for one vehicle as long as I only use one for each claim (no double dipping), but she said she'd have to check to make sure

My biggest fear while driving the 80 is having some idiot on the road take her out with minimal damage


It doesn't take much to total any vehicle with half a million miles no matter how much I think she's worth


I could do without the offroad coverage as anything I'm willing to do on the trail should be on me and given that I have the world's loudest alarm system, I'm not too worried about theft




It just seems that everytime I take her out for a drive nowadays, I feel some texting idiot out there will end up writing her off like my beater XB

That's sooo many cameras. Do you ever worry that they'll catch you picking your nose or disrespecting Santa or something?

 

[dsmud4u]

Do you have uninsured motorist in your policy? It's a lot to rely on the at-fault to have adequate insurance.

^^^this^^^

Under-insured helps considerably, much better if you have a good attorney and 100k limits.

 

[98 SNAKE EATER]

That's sooo many cameras. Do you ever worry that they'll catch you picking your nose or disrespecting Santa or something?

I usually delete anything self incriminating, but they have caught a few others without them knowing

Like when Toyota flew in an inspection team to checkout the PCS system in my van and they disconnected the cameras




Or when we caught our niece vapin while we ran into 7-Eleven for some grub to smuggle into the movie theater






Im at the point where I refuse to drive anything without a camera rollin

 

[Fogblue13]

Not entirely on topic, but who here has gotten a "total loss" on regular comp/collision insurance, and then argued with their insurance to get market value rather than simply KBB/NADA? How successful were you?

Working on this currently with State Farm. I had a 95 with lockers and 144K miles. It was basically stock, but I had it baselined. At first they offered me 9K and laughed at them and told them to do better. After numerous low offers they finally have gotten up to 14, which i still think is a little low based on what they are selling for now. I got my agent to call and he has somehow gotten them to invoke the appraisal clause.

Most insurance policies have a “Appraisal clause” written with in them. In fact I think State Farm is one of the few whom have written the language out of their policies. They did this to have complete control of settlements. It’s been argued that their doing this was illegal because it goes against bill #25 in the consumer bill of rights. Any how my recommendation to anyone that has a total loss on any car would be to Never accept any proposed offer based up a Market Valuation Report that the insurance company has to provide you until you’ve done your due diligence to see if the market valuation is in line with what you believe said vehicle is worth. If you not sure seek the help of a professional such as Vehicle Value Experts | Auto and Vehicle Value Appraisals - https://www.vehiclevalueexperts.com/
KBB and NADA are decent tools but they are NOT the Bible on vehicle valuation. For example: my 2010 Porsche 911 Carerra with 17,500 miles currently shows to have a KBB value around $46k. Go try to buy one for that! The real market on my car is north of $60k. So the point is never ever trust yours or anyone else’s insurance company. They ALL have one goal and that is to collect as much of your money as possible through your premium and when it comes time to pay a claim they will do anything and everything to pay out as little as possible and they are relying and praying for your ignorance to not challenge their under indemnification.

So I originally got on to see if anyone had any experience with an appraisal clause bc I had never heard of it but search brought me here. If so do you know anyone who could appraise them? Also apparently State Farm does have an appraisal clause that they you have to fight tooth and nail to get instated. Is it worth the pain of dealing with or should I just take my 14K? I dont have that much in it but I wont be getting another 80 with that payout either.

Any advice would be appreciated.

 

[tone33]

@Fogblue13 how did your situation work out? I'm currently going through this with SF - they are seriously undervaluing my 100 series that was just wrecked in a solo accident. It's totaled for sure - they initially offered me $5K, when it would sell on the market for 18k. I've got them up a little but not much. Still fighting.

 

[MDarius]

@Fogblue13 how did your situation work out? I'm currently going through this with SF - they are seriously undervaluing my 100 series that was just wrecked in a solo accident. It's totaled for sure - they initially offered me $5K, when it would sell on the market for 18k. I've got them up a little but not much. Still fighting.

Tell them you want them to replace the vehicle. If they won't (and they won't.) then you need a list of local comparables they are using to get to the vehicle value they are using. If they say, "that's not how it's done." get your agent involved. My State Farm agent assured me they use local comps, and when my car was totalled they freely provided me with the ads they were using. I provided different ads because they were using the wrong trim level. I got a little more money and it was enough for me to replace the car with an adequately comparable vehicle. You need data and evidence from them and for your argument.

 

[Broski]

Tell them you want them to replace the vehicle. If they won't (and they won't.) then you need a list of local comparables they are using to get to the vehicle value they are using. If they say, "that's not how it's done." get your agent involved. My State Farm agent assured me they use local comps, and when my car was totalled they freely provided me with the ads they were using. I provided different ads because they were using the wrong trim level. I got a little more money and it was enough for me to replace the car with an adequately comparable vehicle. You need data and evidence from them and for your argument.

This has worked for me in the past as well

 

[tone33]

Yep this is all the stuff I'm doing, thanks for the info. The comps SF found initially were from out of state, and they then told me the comps I provided were not local to me and could not be used (really?! no I don't think so). I'm in no hurry. Eventually I imagine they will want to get it off their books and at least come closer to my price. I found a comparable vehicle around 18-20k that's semi-local to me, so definitely going to try and use that to convince them (and prob buy that vehicle from a fellow mudder). I just hope I get a single person assigned in claims and not a team where I can get lost in the system. Depending on how this works out I might be looking for new insurance (as I have a few other cruisers).

 

[MDarius]

Yep this is all the stuff I'm doing, thanks for the info. The comps SF found initially were from out of state, and they then told me the comps I provided were not local to me and could not be used (really?! no I don't think so). I'm in no hurry. Eventually I imagine they will want to get it off their books and at least come closer to my price. I found a comparable vehicle around 18-20k that's semi-local to me, so definitely going to try and use that to convince them (and prob buy that vehicle from a fellow mudder). I just hope I get a single person assigned in claims and not a team where I can get lost in the system. Depending on how this works out I might be looking for new insurance (as I have a few other cruisers).

Get your agent involved. They are supposed to be your advocate with claims.

 

[tone33]

Get your agent involved. They are supposed to be your advocate with claims.

I got them involved from the beginning. They're going to bat for me.

 

[sco00ter]

I got them involved from the beginning. They're going to bat for me.

Curious how this plays out - keep us posted!

 

[b16]

Or when we caught our niece vapin while we ran into 7-Eleven for some grub to smuggle into the movie theater






Im at the point where I refuse to drive anything without a camera rollin

LOL hittin a weed vape at that.