Not sure how it works down there, but up here in Alberta, you can get your vehicle appraised for replacement value, and most insurance companies will honour that value. Of course you have to pay a special premium for this coverage, but it's worth it. Back when I had my 92 rcsb stepside, my insurance broker actually told me to go get it appraised as they knew it was "modified". I came back with the $33000 appraisal (28g for the truck and 5g for the stereo) a couple weeks later, and my insurance went up $200/year but it was covered. Before that, if it was to get stolen, I would've been paid out around $9000 which is what a 92 truck was worth in 2005ish.
Stated Value Insurance
- Thread starter isd503
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I've called around to USAA, Progressive, State Farm & Farmers for instance who all told me they could not help me because they kind of did away with 'stated value' policies some years ago. Farmers also checked with Hagerty and got the same response; limited use show or collector cars only.
I might just have contacted agents who simply do not want to write the policy?
I need a recent example of the steps someone took to insurance cover a daily use older model truck where they put several thousand dollars into restoration. Ideally, this would be a policy which covers the whole truck. A lot of these folks seem to not want to cover the engine or transmission if it is not the original which shipped with the truck from the factory.
There has to be someone out there who can insurance cover these kinds of vehicles?
I might just have contacted agents who simply do not want to write the policy?
I need a recent example of the steps someone took to insurance cover a daily use older model truck where they put several thousand dollars into restoration. Ideally, this would be a policy which covers the whole truck. A lot of these folks seem to not want to cover the engine or transmission if it is not the original which shipped with the truck from the factory.
There has to be someone out there who can insurance cover these kinds of vehicles?
All the ones I know about are limited in terms of yearly mileage allowed.
It sounds like you either have to be prepared to eat the difference in value or get something else for a daily driver. Hate to say it.
It sounds like you either have to be prepared to eat the difference in value or get something else for a daily driver. Hate to say it.
I just went threw this last month, my current company at the time ( Celena ) would only cover my rust free, low milage 1994 K1500 suburban for 8k as a "stated value". I found a agent for Auto Owners who could write a full coverage policy with an "agreed value" of 13K with no miles limit. ( this is the vehicle I use while on longer trips ) The process was kinda a pain and I had to send them a ton of pictures of everything, but she did make it happen.
Altho I think it kinda depends how much time an independant agent wants to invest in making a policy that corprate will write, I did find an agent with Auto Owners.
Maybe check with them ...
Altho I think it kinda depends how much time an independant agent wants to invest in making a policy that corprate will write, I did find an agent with Auto Owners.
Maybe check with them ...
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