How do you guys insure?

[eamims]

So I've got insurance (you have to have at least liability around here) on my '77. I've wondered what you guys do to ensure that you get properly compensated if you are in a wreck.

Let's say you have liability and someone with insurance hits you and totals your '72 pickup. Their insurance company will likely try to offer you blue book or whatever...well below its actual worth (what with all the new parts/paint/mods).

Do you guys document your truck (photos, receipts)? And does this mean anything to the big insurance companies or do they just piss on you either way?

[KShortell]

Insured for Actual Cash Value (ACV = blue book) w/ $250 deductible. Believe it or not, a higher deductible doesn't really lower my premiums.

It's been years since I had to make a claim. Most policies limit "extra" stuff, so if you have a lot of "mods" like a lift kit, $3,000 stereo, or things like that, you may need an additional rider to cover it.

I'm basically stock, so I don't really have that concern. The best part is getting part of my premiums refunded at the end of each year based upon how well the insurer did. You've gotta love member-owned USAA!

[Gibble]

I know in MB, Canada, having your vehicle appraised does wonders.

That's what my father is going to do for his '66 Stang. Get an appraisal so if it's wrecked he gets what it's worth not the super low blue/black/whatever book value.

[Palf70Step]

It's a gamble whichever way you go. Definitely on older vehicles you have to see how they reinburse you. If you get special vehicle insurance, your company may restrict how much you can use it and where it can be parked. Other wise your dealing with book value or constant reappraisals. Anyway you look at it the insurance company wins not you.

My dad sold insurance many moons ago and the rule he gave me and that I use is, if you can afford to loose it, just get liability. The money you save can be used for you to rebuild it and you don't have to go through the hassles to keep the vehicle after a wreck. If you can't afford the loss and rebuild, get the best you can afford for replacement.

I'm running liability on most my trucks. Figure what I don't spend can be reused to by the parts later to rebuild. My daily driver had full coverage because of the bank loan and I just hadn't gotten around to changing it to liability only yet.

Again either way you go, cr@pshoot.

I had my first crash in over 10 years, so I figure I saved enough money over those years to rebuild any of mine that might be lost in a crash.

[LOHRTBT]

Get a certified appraisal and know your agent well and make sure to ask a lot of questions. I have mine appraised for every receipt I own for it.

[74Pumpkin]

What My brother did was to contact his agent. Tell him what he wanted it covered for. They had it appriased and came to an agreed value. Not to bad of a price either!. I guess just keeping the company informed and agreeing on a value is the key.