Cheap insurance

[Steve Van Gent]

While I was restoring my truck, i had PLPD insurance through State Farm at $170 per six months, this was no coverage for my truck, only for damage I inflicted. after body work, new interior and new bed wood and tires/rims, I started to become concerned about what would cost me if I had a wreck. I had heard from my agent that when I was getting close to finished to come see him about full coverage. I asked him when I ran into him, asking for quote not because I had any intention of buying extra coverage and additional expense, but I was curious...

Much to my suprise he came back with full coverage at $15,000 cash reimbursement value, $200 per YEAR-it went DOWN by over $100 per year for FULL COVERAGE!!!

This was becuase I met the criteria...

1. It was a classic (think was 30 year old minimum).
2. It met minimum restoration criteria (motor, paint, interior).
3. It was reviewed by agent and underwriter.

THere was NO mileage restrictions or other restrictions at all! And I built this as a STREET ROD-this means I could have put ANY modern upgrade on truck-did not impact the policy. I can use for daily driver....THis was a cash payout policy-not prorate or repair-check for damage. THe payout amount was a number I pulled out of my A##, I could have made any number that the underwriters and apprasiers agreed to. If I do any further improvements, I can adjust this amount.


This is a great aguement for ANYONE to have a classic in the family-saves fortune on insurance. If one puts a good gas milage motor in (such as a crate Z06 motor and tranny-27MPG) and modern suspension and modern conveniences (power windows, cruise, carpet, seats, power brakes, power steering) they would benifit from all.


Needless to say, I converted.

[markeb01]

Thanks for posting. I'll be checking into this.

[Steve Van Gent]

Just to be clear, I suspect if you announce to agent that it is daily driver, they will not want to write it. However, since it is unlimited milage, there is no specific restriction to it. Or at least this is what my agent implied...

I would tell them it is a show truck...After all, it is...

One more note, it appears I am only able to have one per family...

[Oklahoma]

I have mine thru SF also and it is covered for 10k and I can drive it every day with unlimited milage, for 130/year. Go SF

[javadoc]

Yup, I have similar coverage on my truck through Snake Farm. I was really surprised at how inexpensive it was, but then again, it's rarely out of the garage.