Full Coverage on Blazer based on appraised value.

[pparker]

I've heard you can get insurance for your older vehicles based on an appraised value. Has anyone had experience with this, and possibly had to file a claim? I hope to drive my rig a lot one day, Would hate to have some bozo pull out infront of me and now im out a bunch of money and time to rebuild, but also wouldn't want it totalled and just get a small check and not see the vehicle again. I could probably call the insurance agent but i figured I would ask around here and see if anyone had any first hand knowledge on the topic.

If this really is a thing, I would just like to know more about it, or maybe how you went about it to obtain the best appraisal and if you were able to work out a deal with insurance based on say maybe you dont drive it more than 5,000 miles a year or something.

 

[Bent77]

I’ve done stated value. Appraised value is done by some insurance companies, usually for coverage that’s a bit higher. Sometimes they will take pictures. Last one I was a part of, appraisal dude actually came to the house to look at the car

 

[pparker]

So i did some digging, and found an old thread from 2016-2019, Alot of guys were using Hagerty, Lol policy states they will not accept if you have roll bar, large offroad tires, brush gaurds, and something else, I believe a few guys said you have to be on a paved road for it to count as a claim.

I’ve done stated value. Appraised value is done by some insurance companies, usually for coverage that’s a bit higher. Sometimes they will take pictures. Last one I was a part of, appraisal dude actually came to the house to look at the car

So with the Stated value you have, say you chose 25k, you get in a wreck its totalled, they give you 25k no questions asked? Does yours cover anything offroad, like say your on an unpaved road but it is still US forest service or even a remote county road, but just unpaved.

 

[Bigb55]

Mine told me it would be valued at market value. Since KBB doesn't go back far enough. They would use NADA valuation and start from there.

NADA for my '74 is 9k low to 40k perfect.

So somewhere in-between.

Hagerty and other classic car insurance have stipulations on how the car can be used, stored, etc. If used outside the rules it can deny the claim.

Most insurance will allow you to pay extra monthly for a stated value and other riders. Just call and ask.

 

[Wes Harden]

Yeah the last classic car insurer I talked to, ask if it was 4x4 I said yeah they said no. Autoclub inquired about my Manx type dune buggy. They said it fit in the criteria for classic coverage. I'm not sure how they knew anything about it. Maybe because it is a 1970 Special Construction registration. I declined before they asked to many question, and they move to deny me the current coverage I have. That car see more dirt than pavement, and if all 4 wheels don't leave the ground at least once during an outing, I must not be feeling well.

 

[Blue85]

Hagerty told me that if the vehicle is ever used off road, it's not covered, even if the accident is in normal traffic. Be warned that what agents tell you and how adjusters interpret the policies are two different things.

 

[JDJ2810]

I have had Stated Value policies and Appraised Value policies. I opted for no mileage restrictions on both. You will pay more for coverage but it is peace of mind.
With my stated value policy I hade a restored 70 K10 insured for $15000. I paid $8000. I miss those days. Policy was with State Farm. I drove that truck daily year round. I filed a claim when it got stolen. Waited 10 days. State Farm cut me a check for the $15000.

All the classic car insurance companies will give you super low rates. The will come with multiple stipulations. Yearly mileage, seasonal use, ect... Filing a claim is another issue all together. My Dad went through it with his 72 C10. He now has stated value on the C10 with no restrictions.

 

[Bent77]

Yes Hargerty’s model is to insure classic and original vehicles under factory intended use. They are a very good company, pay claims and take care of customers. But you have to stick within the boundaries

 

[muddybuddy]

I looked at American Collector (USAA’s partner for collector cars). Rates are very reasonable. You can use stated value. The vehicle must be garaged (at least 3 sided carport I believe would work) 100% of the time. Once I have a garage I intend to go forward with it.

 

[fordsucks!]

I looked at American Collector (USAA’s partner for collector cars). Rates are very reasonable. You can use stated value. The vehicle must be garaged (at least 3 sided carport I believe would work) 100% of the time. Once I have a garage I intend to go forward with it.

I will check them out!

 

[fordsucks!]

I tried the insurer for a stated value with State Farm,

I've heard you can get insurance for your older vehicles based on an appraised value. Has anyone had experience with this, and possibly had to file a claim? I hope to drive my rig a lot one day, Would hate to have some bozo pull out infront of me and now im out a bunch of money and time to rebuild, but also wouldn't want it totalled and just get a small check and not see the vehicle again. I could probably call the insurance agent but i figured I would ask around here and see if anyone had any first hand knowledge on the topic.

If this really is a thing, I would just like to know more about it, or maybe how you went about it to obtain the best appraisal and if you were able to work out a deal with insurance based on say maybe you dont drive it more than 5,000 miles a year or something.

Mine told me it would be valued at market value. Since KBB doesn't go back far enough. They would use NADA valuation and start from there.

State Farm would not do a stated value for me. I've had two enthusiast cars stolen, both times they based their payout on the cheapest Craigslist ad within 1500 miles. Both times I disputed the payout, they doubled it (into a normal value) always on day 30. Out of their 30-day limit.

 

[pparker]

I guess i need to call around and make sure to read contract. And also make some failsafes where its harder to steal my truck.

 

[ktmoutfront]

The jimmy is stated value through progressive. Not covered off road. Mine is mainly for theft. Still has full coverage.

Adjuster friend who works under contract for state farm, said if the skid plates or undercarriage have scratches, not covered. "Excessive abuse."