Insurance Question

[KingPhilip3rd]

Hey Guys,
Just bought a very clean / super low mileage TJ.
I'm not an insurance adjuster - but I'm assuming if it got totalled/stolen, etc I'd be looking at a somewhat significant loss (what I paid vs. blue book value).

Do any of you have any specialty insurance?
Just curious if everybody here just assumes it as a "cost of doing business" (assuming most of our rigs are worth more than BB - especially with mods) or if there are other options.
Obviously have full coverage but I'd assume Allstate low-balls the shit out of me on a 20 year old car (hopefully it never comes to that).
Thanks,
P

 

[MaximusLJR06]

Hagerty for stated value insurance, if you able to get a policy with them. Not everyone is able too though.

 

[Artsifrtsi]

Hagerty for stated value insurance, if you able to get a policy with them. Not everyone is able too though.

One of the questions they ask, is whether the vehicle is used offroad... applies to both 4 wheeling/offroading in a 4x4, and racing in a car.

 

[GregBelleville]

Hey Guys,
Just bought a very clean / super low mileage TJ.
I'm not an insurance adjuster - but I'm assuming if it got totalled/stolen, etc I'd be looking at a somewhat significant loss (what I paid vs. blue book value).

Do any of you have any specialty insurance?
Just curious if everybody here just assumes it as a "cost of doing business" (assuming most of our rigs are worth more than BB - especially with mods) or if there are other options.
Obviously have full coverage but I'd assume Allstate low-balls the shit out of me on a 20 year old car (hopefully it never comes to that).
Thanks,
P

I work in the insurance business, and, like you, I just have a standard auto policy with full coverage for comp and collision. I also anticipate that if/when I ever have a claim that there will need to be some back and forth to prove that my TJ is worth more than KBB, which will involve sharing listings of similarly equipped TJs for sale in my area.

 

[AndyG]

I work in the insurance business, and, like you, I just have a standard auto policy with full coverage for comp and collision. I also anticipate that if/when I ever have a claim that there will need to be some back and forth to prove that my TJ is worth more than KBB, which will involve sharing listings of similarly equipped TJs for sale in my area.

This is reality.


These things fall in the category of a vehicle that is quickly totaled, has higher real market value than industry estimated value, can be used for extreme terrain, and typically has a good bit of money invested in it by the owner.

It is sort of a perfect storm.

 

[inkedrose]

I have Farmers, they asked for a build sheet. I asked what happens if I roll it off road, they said I'm covered. Was told that even with mods max payout they would give is 25k

 

[Zorba]

And keep in mind that InsCos just *LOVE* to "total" vehicles.

 

[TheBoogieman]

When I got hit in my old 03' TJ (27,000 miles) years ago, the insurance company tried to half-ass the repairs by only fixing a minimum amount of stuff and even using a salvage yard axle. I told them NO and made them check and replace everything I even thought could be damaged. Damage estimate went from $1,650 to over $5,500. I cancelled my insurance policy with them as soon as my Jeep was fixed.
p.s. I still miss Old Whitey.

 

[CreepinDeth]

Agreed value Hagerty policy,

“Agreed value car insurance is a policy where you and the insurer agree on the value of the covered vehicle. The item is guaranteed to be insured up to that fixed amount if you need to make a claim.”

 

[Artsifrtsi]

Agreed value Hagerty policy,

“Agreed value car insurance is a policy where you and the insurer agree on the value of the covered vehicle. The item is guaranteed to be insured up to that fixed amount if you need to make a claim.”

I loved that policy when I had my Trans-Am! If I buy my late uncles MGB, it'll get a Hagerty policy on it as well...

 

[MaximusLJR06]

Agreed value Hagerty policy,

“Agreed value car insurance is a policy where you and the insurer agree on the value of the covered vehicle. The item is guaranteed to be insured up to that fixed amount if you need to make a claim.”

That is what i have on my classic and my jeep.

 

[egclassic]

And keep in mind that InsCos just *LOVE* to "total" vehicles.

Yes they do! This happened to me this year when I hit a deer with my 2006 Toyota corolla. No mechanical damage, just a hood, fender and grill. Estimate to repair was $5235. They (State Farm) totaled it and gave me $5685. I kept the car and had it repaired because it only had 59K miles on it and no way I could find anything even remotely close for that money.

 

[Zorba]

Yes they do! This happened to me this year when I hit a deer with my 2006 Toyota corolla. No mechanical damage, just a hood, fender and grill. Estimate to repair was $5235. They (State Farm) totaled it and gave me $5685. I kept the car and had it repaired because it only had 59K miles on it and no way I could find anything even remotely close for that money.

That's FUCKING State Farm for you. I had to fight them for weeks back in 2011 when they wanted to total my car.

 

[txbemis69]

would definitely be interested in what hagerty would insure mine for vs farmers. farmers are steadily increasing premiums every time policy renews. motorcycle ins. with farmers just went up $24 a month for full coverage.

 

[BlueC]

That is what i have on my classic and my jeep.

Same for me.

would definitely be interested in what hagerty would insure mine for vs farmers. farmers are steadily increasing premiums every time policy renews. motorcycle ins. with farmers just went up $24 a month for full coverage.

My Jeep is covered for $13K and I think that's $400 annual for me. Full coverage, $0 glass and $500 deductible. (That might be backwards, it might be $50 glass and $0 deductible)

 

[CreepinDeth]

would definitely be interested in what hagerty would insure mine for vs farmers. farmers are steadily increasing premiums every time policy renews. motorcycle ins. with farmers just went up $24 a month for full coverage.

Call Dairyland Ins for motorcycle ins
Thats who I use

No need to carry a car or house
Its totally strictly for my chopper & bagger

 

[TonyArms]

hi, StateFarm offers historic insurance you can set the value.

 

[Zorba]

hi, StateFarm offers historic insurance you can set the value.

At an OUTRAGEOUS price. I asked.

 

[TonyArms]

At an OUTRAGEOUS price. I asked.

I only valued mine at 1K so $45 for full coverage every six months is affordable. It's not a daily driver or going to win any awards.