47-55.1 Insurance and gps

[Matt_50]

I can do all the Anti theft stuff I want but I know it's still possible. I'm doing my research and I'm hearing about a few misconceptions. Like stated value insurance doesn't mean you'll get what you stated.

What are you guys doing for insurance to completely cover you in a total loss situation? As in to get enough money for another truck or car.

And, what are your thoughts and recommendations on adding a GPS tracker?

[01spirit750]

Here is my understanding:

Stated value- set value of the vehicle when coverage starts and then depreciates over time. (Like a new car).

Agreed Value- set Value of car and does not depreciate

[bosco]

I went with an Agreed value policy, also installed LoJack for classis cars. It notifies me if my truck is moved (running or towed [movement]) without the key fob, then can be tracked by Law Enforcement. Also have installed a few kill switches. Even with all this if a thief really wants the truck they will figure a way, but these will slow them down. But, the policy is the most important.

[Matt_50]

And how do you get an agreed value? Do they send someone to inspect it? I looked into lojack, I don't have a dealer in my area.

[mgchevyparts]

Hagerty, Grundy etc collector vehicle insurance is agreed value. You can't use the vehicle as an every day driver. It's for "collector cars" and occasional use. I have Grundy, they have never checked mileage or anything else for that matter, car must be kept in an enclosed garage. Some companies do check mileage

[vintovka]

I have Hagerty and they gave me a 10% (?) discount for having a GPS mounted in my dash.

[mr48chev]

One thing is that if you do put a GpS or other locater in the truck you want an alternative power source (battery) for it that isn't part of the regular power circuit and that has a diode in the charging wire for that battery. It doesn't have to be big it just has to keep the GPS or phone working for an extended period of time.

I'm not sure what app my daughter had on her phone but it located the phone to within a few feet when it was misappropriated when she left it in a grocery cart. 30 minutes after a visit by law enforcement to the house that the phone was located at and her setting off the very loud and annoying alarm on the phone we got a call from the store she lost it at that it had been turned in as found.

You wouldn't want the alarm function but your or your wife's "old" smart phone might just be the thing at about 10 bucks a month charge on the phone bill.

[mick53]

I have Dakota Digital gauges with GPS speedometer. Would that have the GPS in it for tracking?

[Matt_50]

I don't think so. I've been searching GPS like crazy. There are a bunch and it's hard to sift through.

[e015475]

An agreed value policy on my AD truck ran $150/year. I have two cars insured with them, one with an agreed value of $6K and the other with an agreed value of $30K, and the difference in policy cost is about $30/year.

For both cars they wanted photos of the exterior, interior and engine bay for their underwriter to review prior to issuing a policy. I'm sure part of this is checking the 'reasonableness' of the agreed value you tell them.

The insurance company wants to know that the vehicle they're insuring isn't your principal transportation and you are not going to drive it to work. I'm retired, so the car only gets driven 3-5K miles per year. Their use restrictions have not been a problem at all. They also asked if there were any younger drivers in the household that had access to the vehicle.

They wanted to know the address where the cars will be stored and if the storage has a way to secure the location.

As far as GPS locators are concerned, my thoughts are that you should insure it for enough to replace it with something of equal value. I had a truck stolen from the Best Buy parking lot a few years ago and it was recovered stripped sitting on cinder blocks in the barrio a couple weeks later. The insurance company paid to have it restored, but what a hassle. If I could have got what I had in it from the insurance company, I'd have just bought another one.

[e015475]

Another comment....

An acquaintance had his agreed value 50's sports car catch fire in the engine bay a few weeks ago. A stuck float and they couldn't get the hood open fast enough to contain the fire with an extinguisher.

The damage was almost enough to total the car, and the insurance company gave him the option. It sounded to me as though the special interest car insurance company was very reasonable to deal with. I've heard others with losses say the same thing.

[bosco]

AAA insured mine, and they did inspect the truck. Received a discount for having LoJack or a GPS device, plus my other vehicles.

[65blackfleetside]

I have Hagerty And I have GPS tracker called "Automatic"
You download their app and they send you a tracker to place in your OBD scan port. so there is it gets its power source from the trucks battery. This only works If you are running an LS or late model ECM engine)

This "Automatic" one had a 1x annual fee. Most charge by the month.

My phone alerts me whenever the truck is moved.
My OBD port is under the seat as is my ECM so ts harder to find.

Dewalt also makes one.
There are a few out there that use cell towers instead of GPS

[_Ogre]

without an "agreed value" policy, your classic car is not insured
any other policy will pay blue book, which in our case is $0

[Matt_50]

Yea I'm definitely trying to make sure I am fully covered. I'm trying call different places and reading reviews.

GPS sounds like a great idea. Just trying to find one or companies that are recommended.

[rgunlock]

Keep in mind that GPS only works if your vehicle is out in the open. When pulled into a garage it disappears and it depends on the policy you got for frequency of "check in" calls it makes to put you even close to where it disappeared.

[mr48chev]

A GPS locator that only works with the engine running isn't going to do much catching a pro thief using a repo rig or other means of towing the truck off. They might work good against the joy rider who is probably going to drive the rig for a couple of hours and ditch it somewhere if they don't wreck it first. Also pro thieves are smart enough to disconnect the battery as soon they get the rig to what they feel is a safe place to stop and deal with it.

[1957 Chief]

As far as insurance, I have a good friend that is an insurance agent. I stated the value of the truck, and sent in a ton of pics, and I have a policy for that amount.

Also, I own a security company and we sell all sorts of GPS devices. I currently have a device on my truck that will give me a once an hour heartbeat if the truck is off, 2 min report when the key is on, and will indicate "tow" if the vehicle is moved with the ignition off. It also has a geofence that will notify me if it is moved from the location I selected. I have trackers on all my trailers and important rides.

As MR48 said, its best to have a sep power source to deter the hard core thieves. Unfortunately, to out smart them you have to think like them.

Bubba

[vintovka]

Originally Posted by bosco

AAA insured mine, and they did inspect the truck. Received a discount for having LoJack or a GPS device, plus my other vehicles.

AAA told me to get lost. They also cancelled my home insurance when i lived near Placerville CA. Done with them and their overpriced insurance.

[_Ogre]

Originally Posted by 1957 Chief

As far as insurance, I have a good friend that is an insurance agent. I stated the value of the truck, and sent in a ton of pics, and I have a policy for that amount.

if it's not an agreed value policy, your not covered
lots of people will sell policies that cover mainly the other driver

i know a guy that went thru this 2 yrs ago. his agent said he was "covered".
his policy covered the pole he hit, but nothing for his car

[bosco]

Originally Posted by vintovka

AAA told me to get lost. They also cancelled my home insurance when i lived near Placerville CA. Done with them and their overpriced insurance.

They (AAA) wouldn't insure my new home because of last years fire. But, I kept the auto insure. They were cheaper than Grundy and Hagerty for the exact same coverage. It looks like they are getting out of high risk areas (which is most of Calif).

[Matt_50]

Well, after what some of you have said, I've been reading reviews and trying to see which company kinda drops the ball the most. For example. Hagerty sounds good but once you use them once ppl don't sound happy. Maybe this is just how it is for agreed on insurance?

[jocww]

did you look at grundy? there are a few others that i got quotes from, theyre so far the cheapest, paperwork to start is ok, not the best but not the worst. some of them offer tows and if you are on a trip they help out with that. depends on what your needs are.

[Matt_50]

I haven't yet. It's on my call list lol.

[jocww]

Originally Posted by Matt_50

I haven't yet. It's on my call list lol.

Try hot rod insurance 650 343 8450. He was pretty good. Little bit more but a rally nice gut and has cool toys