47-55.1 When do you get insurance involved?

[JDarby]

All,

At which point do you start to get insurance involved in your build?

I ask because we have had a very unusually wet / tornatic / high winds type of spring
and with my truck sitting in my builders garage
wondering if a tornado was to lift his garage and break my truck into thousands of pieces, my loss would be devastating to me.

At what point do ya'll start to cover your build insurance wise during your build?

I called today but after a 10 min. wait I bailed.
I will try again tomorrow, the # in my back pocket exceeds my comfort level

[Hcb3200]

Call your homeowners first. It often covers what is stationary at the home. Like when a tree banana my daily one time When it’s rolling or can be stolen as a tow or driver then it is auto. Of course policies vary. But that my experience

[nvrdone]

I had the same question with my '49. Had it covered for just pl & pd with a major company and my agent recommended I switch to Haggerty. I now have agreed value coverage which covers the truck whether I'm driving it or it's stored in the garage. Every year I increase the coverage depending on what I've done to the truck. The rates are less than half of what I paid before. Might be worth a call.

[leegreen]

I put 'storage insurance' on mine as soon as I started to get serious about working on it.
-With our provincially mandated primary insurer this was a way to make sure I could still insure it 40 or so years after I bought it and transferred to my name.
-it covered it from damage
-I bought liability insurance for it, in case there was a shop fire or something so I could have home and auto insurers fighting each other rather than telling me I wasn't covered.

that only costs $130 Canadian $ a year, peanuts in the overall cost. And our rates are supposed to be among the highest in NA

[dsraven]

check with your insurance company and don't be vague about what you actually have. if it is in parts it is not considered to be a vehicle usually so the parts may be covered by a rider on the home insurance. let them know exactly what you have and ask what is the best way of going about getting coverage on the investment. a vehicle coverage may onbly cover what is actually attached to the frame as a vehicle, so the shed full of parts would need to be covered under a rider possibly. same goes for tools etc. anything over what a normal handyman would have may need to be covered under the home insurance policy and may need an inventory list and/or pics. I suggest a video of what you have be kept on a thumb drive or whatever, somewhere other than in the home, in case of a disaster

[JDarby]

Originally Posted by Hcb3200

Call your homeowners first. It often covers what is stationary at the home. Like when a tree banana my daily one time When it’s rolling or can be stolen as a tow or driver then it is auto. Of course policies vary. But that my experience

Like when a tree banana my daily one time When it’s rolling or can be stolen as a tow or driver then it is auto.

What?

[mr48chev]

I have to go with what DS Raven said in post 5 as far as the parts that aren't on it and even if they are on it and it isn't to the state that it can be called a truck yet.

Itemized list of the parts and receipts count here. Get that binder I have suggested in the past, a pack of page savers and some subject dividers and put together a build book with each major component in it's section. It isn't hard to have 10 K tied up in an engine these days but one has to have proof it is a 10K purchase and not a similar enigne out of a 500 buck donor rig with fresh fiz can paint.

The list of the parts and even photos of the parts.

Personally I'd do the same thing with my tools and shop equipment. Documentation for what you say you have.