Insurance ?

[fx4wannabe]

Well being that we just sold my Dodge we are putting the F350 back on insurance and I told m wife to make sure she asked what the replacement cost is that the pay out do to theft or total loss. $2400 is the max they will pay out. I called them myself and said you find me all the trucks you can like mine for $2400 and I will buy every one of them. I couldn't find a beat one for $2400 much less one that is as nice as mine. So now I am shopping companies and if that doesn't pan out then I am going to have to get it appraised and run it like a classic car. Just ****** me off that I could be out minding my own business and someone hit or steal my truck and then its pretty much a total loss even though I have been paying an insurance company to "protect"me. So my question is you guys that have nice rigs, how do you have them insured?

 

[hesutton]

When I finished my truck, I had a lot more money in it than even the best KBB. Heck, the turbo alone would cover the value according to the insurence company.

What I did was get the truck apprasied by a guy who knows trucks and who has done restorations himself. He appraised the truck for roughly 10X the value the insurance company would cover for standard insurence. I took the apprasial to the insurence and they wrote the policy for the appraised value. Then State Farm dropped my as my suspension wasn't the stock springs and shocks from the factory I talked to the agent and told him that if he really thinks that 23 year old springs and shocks are safer than new springs and shocks then I'd agree with his dropping my truck. He didn't answer.

Well, I switched to a different carrier, not only for my truck, but also for my houses, wife's car, my motorcycle, and so on.

Get it apprasied and get a policy for the appraised value.

Heath

 

[icanfixall]

Heath.... That was a nice move on your part.. To hell with insurance... All they really want is for you to never have a claim but... They sure want you paying your premiums.... Thats thinken with your dipstick... Heath....

 

[jperecko]

Try to go with local companies... smaller ones. Some will let you simply declare the replacement value.

 

[fx4wannabe]

yea I think we are going to shop around. I think I will get it appraised when its done just so I know what someone else thinks its worth cause it will always be worth more to me.

 

[Shadetreemechanic]

Get it insured for liability at the minimums and then put the rest that you would have spent on insurance in a savings account. You will come out ahead 9 times out of 10. I have never had full coverage on a vehicle and never will. It profits no one but the insurance company.

 

[dyoung14]

full coverage is good in the case of a total vehicle loss

 

[zukinut]

I have progressive commercial on the flatbed and i love it. Ive got a million dollar liability coverage on it. I dont think i will ever need that much insurance, but i damn sure dont want to need it and not have it. We drive big trucks, they mess stuff up in a hurry. I had to have commercial because its a cab and chassis truck. But i love the insurance. I have the samurai, the geo and my landcruiser on progressive auto.

I have comp on the ford so i can drop the liability when its sitting, which it does alot.

Will

 

[fx4wannabe]

Get it insured for liability at the minimums and then put the rest that you would have spent on insurance in a savings account. You will come out ahead 9 times out of 10. I have never had full coverage on a vehicle and never will. It profits no one but the insurance company.

I like that idea too. Carry the minmum you need by law and insure the rest yourself.

 

[Shadetreemechanic]

full coverage is good in the case of a total vehicle loss

I drive a $5000 truck. I pay $200 a year to insure that truck. If I had full coverage what would I pay? $1000 a year maybe?(I don't know cause I haven't looked at full coverage in 15 years.)
If that's right then I save $800 a year by not having full coverage. Every 6.25 years I could buy a $5000 truck with my insurance savings. (without counting interest.
I have been driving for 18 years and never totaled a truck so now I am $14,400 to the good.
I no longer have a separate savings account for transportation that I contribute to every month, I have enough savings now that if I want another $5000 truck I will go buy it.
But in high school my dad required that I do that, and by 17 I had enough saved up to replace my $900 Chevy Caviler.
It takes a little more discipline, but it saves money and creates wealth at the same time.

 

[fx4wannabe]

I drive a $5000 truck. I pay $200 a year to insure that truck. If I had full coverage what would I pay? $1000 a year maybe?(I don't know cause I haven't looked at full coverage in 15 years.)
If that's right then I save $800 a year by not having full coverage. Every 6.25 years I could buy a $5000 truck with my insurance savings. (without counting interest.
I have been driving for 18 years and never totaled a truck so now I am $14,400 to the good.
I no longer have a separate savings account for transportation that I contribute to every month, I have enough savings now that if I want another $5000 truck I will go buy it.
But in high school my dad required that I do that, and by 17 I had enough saved up to replace my $900 Chevy Caviler.
It takes a little more discipline, but it saves money and creates wealth at the same time.

I agree with ya. Insurance is a scam anyway. Unfortunately a necessary one. Another thing I learned is make sure you have enough liability. I had a buddy that hit a high end bmw which ever one has the aluminum body. Being that you can't fix it any little hit totals that car. He didn't have enough liability to cover the car and spent 6 months in court. Safe Auto really isn't that safe.

 

[Shadetreemechanic]

I agree with ya. Insurance is a scam anyway. Unfortunately a necessary one. Another thing I learned is make sure you have enough liability. I had a buddy that hit a high end bmw which ever one has the aluminum body. Being that you can't fix it any little hit totals that car. He didn't have enough liability to cover the car and spent 6 months in court. Safe Auto really isn't that safe.

Yes, I recently upgraded to 50K/100K/50K for that reason. I think it added $15 bucks a year to my premium.

 

[sassyrel]

Try to go with local companies... smaller ones. Some will let you simply declare the replacement value.

nope--the *** ins cos in the state of iowa are ripoffs---

 

[sassyrel]

I have progressive commercial on the flatbed and i love it. Ive got a million dollar liability coverage on it. I dont think i will ever need that much insurance, but i damn sure dont want to need it and not have it. We drive big trucks, they mess stuff up in a hurry. I had to have commercial because its a cab and chassis truck. But i love the insurance. I have the samurai, the geo and my landcruiser on progressive auto.

I have comp on the ford so i can drop the liability when its sitting, which it does alot.

Will

progressive--if you ever get hit--hang on--those pukes cut corners fixing your ride any way they can--they sound good till its time to pay up--

 

[sassyrel]

i had allied in iowa--what a rip--when they finally did a audit on my house--AFTER TEN YEARS!!!! they said--you have wood burner--i told them when i got their ins--it was in the policy--they were unhappy!!! so,they said had to get it inspected--then they would cont ins. so i did. i kept the name of the person i talked to!!!! called back--this in oct!! and they told me they wouldnt ins me. i gave them the name and ext number of the person i talked to. they said didnt matter--they were done with me!! i now have westfield ins out of ohio---very good co, and where i was paying 186.00 a month!!!! im now paying 92.00-------yup--and a wholeeeee lot more coverage!!!!! and they know i have a wood burner!!!!!! they checked it out,said i had no fire claim in 27 years,no problem!!! be nice to put allied out of business, and progressive,state farm, alllstate,farm bureau,john deere. all of these in the state of iowa are cheats and liars--