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Originally Posted by jocko
this is such a frustrating topic. MANY would like to have their classic truck insured for what it is actually worth (not blue book) and still drive it every day. You know, like an escalade that cost a friggin fortune and is driven by 18 year olds... ??? Yet we can't seem to get what we woudl like very easily, if at all. I still do not understand.
Here's my beef: I'd be more than willing to pay MORE than what I currently pay (which is ridiculously low) for the freedom to actually USE my truck more.
But there really is no clear route for that. If you want low rates and coverage, heaven forbid, you have to fort knox protect the truck. If not, you can get liability and take your chances. Very very frustrating.
I have Grundy, and that was after a long, long search. I am happy with them. It's a stated value policy and I CAN occasionally drive it to work and take it places for more than just sitting in the fairgrounds. I even asked about driving it cross country - motels and all. They said yes. The Key, as I believe Leevon pointed out, is that the vehicle in question is not your primary mode of transportation. So, in order to insure it via classic ins, you have to have ANOTHER daily driver. I feel for the dude that is mid-20's has a nice old truck and that's his means of getting to/from work. There's almost NOTHING out there that will insure him and cover him properly in a loss. Bluebook, or liability, and thank you very much.
Oh well. Now I'm ticked off just thinkin about it.... I'd gladly pay double for my insurance, even triple (which is about what I pay for my daily driver) if I could have a policy I trust that would give me peace of mind and allow me to drive the wheels off. Aint gonna happen.
One more thing. State Farm. Never again for me. Never again. I'd be very wary of a $30K agree val or stated val policy with them. I'd ask the agent point blank "what do I get if A, B, or C happens to my truck?" and I'd record the answer and get his John Hancock on the recording... And the agent in my case was even a friend of the family. You'll note I said "was"....
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This would describe me to a "T". My wife and I are sharing a car as I swap an LS1 into my 72 (my last beater car that got me through college died).
The point, of course, was to build my truck into a DD rather than buying a new truck and carrying a car payment (we just bought our first home). I saw this a much cheaper way to both get a set of wheels and enjoy driving it.
Im just blown away by the news in this thread. Doesnt really make much sense to spend all of this time and money swapping in a motor that gets great mileage if I can only drive it occasionally.... Not sure what I should do with my project now. The truck is realistically worth 12-15k running and driving, so I suppose its not as bad as some of you folks. I cant decide if I should just cross my fingers with NDAA/KBB value or buy a beater car and use that for Haggerty as my primary - which also sets my swap back by a few months.
I did some digging on Grundy's site and found this:
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Agreed Value policies are available for your daily drivers with Grundy Insurance's MVP policy. Yes, that's right! We agree on a predetermined value of your vehicle. In the event of a total loss, that amount is paid.
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Im sure its ungodly expensive, but it doesnt look like I have any other choice.