Insurance is totaling my truck.

[thepenguin99]

Originally Posted by RandyP

Any older vehicle that you've spent tons of money on to restore or refresh, you should insure for a stated cash value, just make sure you can back up your value with receipts. At least then you could turn it over to your carrier and get paid the proper amount, and let them sic their lawyer team on the company who is at fault.
I had an 86 GMC that I'd spent about 10k on, mostly engine and interior, this was back in the mid 90's. Truck was stolen out of my drive way, my insurance company tried to pay me $2500 as book value. Once I produced my stack of invoices they paid me $12,500 minus my $500 deductible. The stated value policy did not cost all that much more either, it just basically is a "book value be damned, here is my receipts" valued policy. Not all insurance carriers have it though.

Looked like a beautiful truck man, sorry for your loss. You can at least yank your wheels off of it and put on some rallies with junk tires. Same with the stereo and such. Adjusters tell us "as long as their is a radio in it, it doesn't matter". And they mean inside it, like it could be laying in the seat and it's still in there.

I think what you actually want is an agreed value policy. You produce pictures/receipts on the front end and you know exactly what you will get if the car/truck is ever totalled. Stated value you still have to prove to the insurance company that the car/truck is worth the stated value after the accident.