Insurance ???'s for my '71 C-10

[Psycho71]

Well, I'm just about done with the first phase of my build on my '71. And now I need to insure her so I get get her back on the road legally. I'm not building a "show truck" by any means. It will always be used as a truck. But I am doing a custom interior, and adding some mods here and there.

We've all read the stories on here, or know someone who had the misfortune of needing their insurance company to step up, and they get the low-balled by the bluebook value on their truck. Which I know even at the point I am now, I would get hosed if I were forced to accept.

I've always carried insurance thru Geico, and never had a complaint with their services. But they will only write me a standard policy, which will revert to "book" values. I called Hardy (correction Haggerty) Collector Insurance, and they'll be more than happy to write me just the policy I need, but won't allow me to use the truck for ANY hauling or towing. I asked them, "what about an antique teardrop trailer?" She said, "we can insure the truck, and the trailer, you just can't haul the trailer with the truck." Makes absolutely no sense to me! But I guess I'm just too practical sometimes.

I drive a company truck all week at work, and will only use my 71 on weekends for playing, to haul the boat back and forth to the lake, and to go on hunting trips.

Sorry about the novel here fellas.....So what do I do? I need a policy that is somewhere between one that reflects book values, and an all out show-truck. But I still need to be able to use my truck, as a TRUCK. Any help in the area is greatly appreciated.


Jay

[El Jay]

Check with Haggarty(sp?).
I have a friend that has several vehicles insured through them and their rates, etc. seemed quite reasonable. (It was a slow day at his auto supply store, so we spent over an hour B.S.'ing)

[Psycho71]

Oops, I guess I typed the wrong name in. Haggerty is the aforementioned company who won't let me haul or tow anything. I'll highlight that in my original post. Sorry.

Jay

[72gord]

Just went through kind of a similar insurance situation. Finished our truck and it was time to insure it, not a show truck but only a weekend, recreational cruiser. Called Hagerty and one other (can't remember the name) classic insurer, both were more than happy to insure the truck for the $10,000 dollar value I asked for, until I mentioned my 18 year old son would also be driving it occasionally. Both turned me down, no insurance if my son was going to be driving it. I ended up adding it to my Rural Insurance auto policy at the $10,000 stated value, they appraised it at $12-15,000 and added it to my policy, not sure how it will turn out if we have a total loss claim, but what other choice did we have? Good luck and keep us posted on what you end up doing

[Psycho71]

I ended up signing with Progressive Insurance. They wrote me a "Stated Value Policy". Which basically, from the best I can understand, covers my truck up to $10,000 (amount I chose) or estimated cost of repair/replacement. Whichever is less. I'm still not 100% sure if that's what I need or not. But it's definitely not going back to "bluebook" values in case of a total loss, or a loss totaling more than the book value. At least there is room for some negotiation there.

And there are absolutely no restrictions for type of use. Which is what I wanted too.

But it gives me the obligatory "warm fuzzy feeling". So now I can focus on getting the tags, inspection, and other legalities taken care of..

It's just hard to believe that finding a policy to suit so many of our needs, which is likely fairly common in this hobby, is so difficult. Or it was 'til I called Progressive anyway. They picked the ball right up and ran with it. Who knows how it will turn out if I ever need to file a claim, hopefully I'll never find out.
Jay

[heidesign]

This is something I am thinking about prior to building my truck.

With all the costs of parts on the truck, the cost of assumed parts and time to be put into the truck I am assuming will be in the 12-18,000 range with vintage air, air ride etc.

What might one need to look for and will they go from an appraisal? Or will reciepts and time cards for the work be notable for value? i have and will keep time on the build, just to know what I got into it. So far only 10 hours, but time will start to rack up as the build starts. I have a metal fabrication shop, and plan to estimate all work and time it as it is being done and invoice my wife for the 1/2 cost time just to have it on record, those records might get lost when it comes time for taxes, but keeping track is what I need to do, if I ever do this for another person, and or need total value to replace if theft, or total loss due to wreck or worse were to ever happen.

So, with this said, all you show truck guys, or NICE drivers, what do you do?

I have a 69 vw square back project that is at 95%, about to be done. I have more in wheels, than the insurance co. would insure the car for, so it just sits, waiting for me to get into it again.

Thanks in advance.

Bill

Bill

[fine69]

Never had issues with my State Farm agent.

Now i normally don't have super nice trucks or cars.

But 5 or 6 years ago i finished a restoration on a 69 GMC truck. It was so nice i was worried about it.

Talked to my State Farm(normal agent for me)guy. He told me to have it appraised. I did.

Then my agent took pics of the truck. Put them in my file at his office. Along with a copy of the appraisal.

Told me not to worry about it.

Now i never filed a claim. But it gave me lots of piece of mind.

[don t. - 72gmc]

Ditto what fine69 said.
I've had State Farm for 20 years or so. I knew blue-book was a lot less than I paid for my 70. Got a policy for $6K. I do have a 3000 mille/year limit. He took pics, put in my file, said if its totaled I get $6k.

Have fun....don t. .....

[mr48chev]

Here is a third vote for State Farm. I had the 48 insured for stated value with them for years without an issue. I never had a claim on the truck but they too care of me with issues on other vehicles
As a couple of the other guys said. Good documentation helps too. Photos on file in the folder with the agent and serious documentation of what is on the truck and what you spent on it.

I've suggested on this board and others that folks put together a *build book* when they start the build. This one is for your documentation and not the one that you set out with photos at shows.
A 3 ring binder with the page protectors from the office supply store is what I use.
I keep every receipt and have dividers (the kind you used for each class in school) for each part of the truck.
Body, engine, electrical, chassis, wheels-tires and what ever.
This gets me in the habit of saving the receipts in one spot from the start and saving a warranty slip if there is one right along with the receipt.
Having had to dig through what amounted to a shoebox for a receipt for a starter to take it back for warranty replacement before this works pretty well for me. It also helps if you have to call tech support for something. I have____ bought it from_____ on______.

And the best thing is that it does actully show the insurance agent that you do actully have 23,671.57 invested in the truck that you are trying to get insurance on. And that the paint job actually did cost 3,200 for the paint shop to do it.

[big_al_71]

I used "Heacock Classics Insurance" and my bucket is insured for $30,000 for
$245.00 dollars a year.
Conditions are as follows:
*No more than 3,000 miles a year
*Only my wife and I can drive it.
*Has to be garaged when not in use.
They took picts of every part of the truck and that was it. I have had them with every classic I have ever owned...I have never had a claim though..

[big mike71]

Farmers insured mine for appraised value of $21,500 no restrictions for $300 a year.

[UltraBlue71]

I have full coverage at Statefarm my agent told me to take lots of pictures(no problem there) and save all my reciepts for parts, paint work done etc, that was my worst nightmare getting creamed by some idiot the first time out in it!

[Dave Reed]

As an insurance agent I can tell what you need is a stated value policy. You will need an appraisal to back it up in the event of a claim, but whatever value you state that will be the max you get. There are not any restrictions on thes policies. So you and the kids can put 25,000 miles on it a year hauling whatever you want.