whats my 71 swb worth

[jmurray192]

well im now making this my daily driver and insurance wants a market value for what my trucks worth. What do you guys think AROUND what its worth on a real buyer real sale. Just a guess

1971 swb - frame up about 10 years ago
427 - roller rocker motor pushs somewhere around 500hp i have been told with installed parts
Coy c5s putting on tommorow 295/45r18 235/50r18
custom interior - seats off like a 98 gmc pickup redone
1000w amp sub sound system
tons more just a few things again just around price a "REAL" number. I remember we got it apraised 8 years ago and they said 50,000 but in no way is that real

[70cst]

I will say a minimum of $30-35,000. I would say insure it for what it would take to replace your truck. The annual premium doesn't change that much when going from $30,000 to $40,000.

I'll let others chime in.

[magwakeenercew2jh]

Although certainly a valid question, it rings to me of trying to answer the question, "Does my ass look fat in this dress?"
Posted via Mobile Device

[JWall]

My truck is insured for $35K.

I always use the how much to replace it or how much would I sell it for question.



Also, my insurance value automatically increases each year.

[monte0185]

I would say about 35k. WHich is what most people have said. lol. Off topic question!! Where did you get your seat? Looking for something just like that for my 86.

[jmurray192]

i had it for about 15k. Im guessing I should probley raise it. The seat was out of a late 90 gmc pickup. Head rests were taken out and redone. Alot better than the old stocker

[big_al_71]

My truck is insured for 40k....and the value goes up every year thru my insurance. It is hard to put a number witout having all the receipts of what was done etc . I would think that it should be somewhere between 25k-30k

[SS Tim]

Not seeing any good answers here yet so I will wade in a little. First thing to consider that the insurance company is going to minimize their claims an way possible. So no matter what you and your agent think the truck is worth nor how much "coverage" you pay for they are going to pay as little as possible. If your truck is has a significant value either through modification or collectability then you need to be looking at "agreed value insurance". It will need appraisals from a couple of sources. To that end it needs to be a recognized source. A letter from a local body/hot rod shop guessing what they would bid it for won't work. The place to start would be Hagerty Insurance. That would get you some ideas, figures and needed documentation. Big thing to remember is that collector companies don't like DDs and for good reason. Need to look at annual mileage/usage limits vs premiums here closely. Good Luck!

[jmurray192]

thanks tim. This is what im battling. just what i was trying to say.

[70cst]

The Circuit Rider is insured for $40K

[davepl]

There are really two different questions:

1) What would it cost me to build it
2) What would it cost me to replace it

Since truck are rarely worth what you put into them, just because you (or anyone, not you specifically) spent $40K on a truck doesn't mean it's worth that if you could buy a similar truck for $15K. I think the insurance company will sanity-check any value you happen to pick anyway, so as long as they "agree" up front, great.

Read the fine print though. It could always state that they insure up to greater of agreed value or replacement value, and if they can make the case that they can buy you similar truck for half of your agreed value, who knows.

[jmurray192]

So what I was thinking if let say it was stolen. Insurance will scan the net for another truck like mine see what its selling for a go with that. Thats my question. If you saw a truck like mine what is a number that you would say thats a fair deal. At 35,000 if I listed it for sale at that im sure most would say WOW thats way over priced and insurance would agree.

[SS Tim]

That is why there is agreed value insurance. You can insure a vehicle for pretty much any reasonable amount, collecting is another matter. They will pay off for like kind and condition and that is it under a standard policy. But if the loss value is established up front and that is the insured value then in the event of a loss with an agreed value policy that amount is what your check will generally be. If you try to go with a stated value and just pay your premiums, a loss is probably going to take a lawyer and time to clean up the mess. Several years ago I went through this on a late model car total declaration by the insurance company. They repeatedly insisted that my car was worth x. Because it had a specific, limited, option content and was out of production I claimed it was not readilly replaceable and that the like kind and condition ads they provided were not applicable. It took a month but in the end the check was for 2.5x and I kept the car.