Insurance! questions

[Eric W]

... in my quest to find a suitable K5, insurance is a concern. My vehicle will need to be somewhat streetable. At first I was thinking of buying a mid 70's model to have it classified as historic. Unfortunately, my insurance company State Farm, unless the truck is in pristine condition, it will not be insured as such a vehicle but just a normal driver. Thus a quote for a '75 with $100 deduct comprehensive (about $8 difference with no comp coverage) for 6 months, $275. So much for the insurance savings because a late 80's model would be $317/6 months. Now the only advantage I see for a 70's model would be emissions/inspection requirements.

Sooooooo..... I tried to search for insurance but I'm wondering if perhaps theres another company which I can keep just the Blazer on, and insure it for less then $500 a year which right now is more then my sport bike insurance for full coverage. Relatively speaking this old truck is alot to insure haha. Must find cheaper insurance. BTW, I have a completely clean record, in the past 3 years, no claims (not even comprehensive), no accidents, no tickets.

 

[6.2Blazer]

The first thing is that a $100 deductible is really low...........I would see what the price is for a much higher deductible.

 

[highrlr]

The first thing is that a $100 deductible is really low...........I would see what the price is for a much higher deductible.

I agree, i never would go lower than a $500 deductable. I pay like $500 and some every six months for full coverage (only while I have my loan on it, then its going to liability only) on my '89.

 

[xtrmjoe]

I just renewed my insuranse, I had a vehicle appraiser look at all the reciepts and up the value from $1,700 for a 86 full size with 150000mi to $5,000. The payments were not that much more and they will cover it up to that ammount no matter what happens. Good piece of mind knowing I have at least $10,000 in parts over the last 5 years. I will probly have it appraised again in 6 mo to get a more accurate quote since a lot of mods have taken place in the last 8 mo.

 

[86chevybanshee]

i wish i only paid around 500 a year

im paying a little over 3 grand a year, with only comprehnsive or whatever it is,
i wonder if 1 accident, losing my license twice and getting about 6 tickets would have anything to do with it?

oh and im only 17

 

[Eric W]

Ok maybe I was unclear- if I had NO comprehensive coverage at all, it would be *only* $8 (yes eight dollars) more, then that with $100 deductable comprehensive. I specified no collision coverage. Also I should mention, with State Farm, you do not need to pay more for more coverage for aftermarket parts (I know first hand from having aftermarket parts and stereos in othe vehicles) so that is a consideration.

But Im looking for maybe a cheaper company as this vehicle will barely be used and only for off-roading.

 

[tiger9297]

Ok maybe I was unclear- if I had NO comprehensive coverage at all, it would be *only* $8 (yes eight dollars) more, then that with $100 deductable comprehensive. I specified no collision coverage. Also I should mention, with State Farm, you do not need to pay more for more coverage for aftermarket parts (I know first hand from having aftermarket parts and stereos in othe vehicles) so that is a consideration.

But Im looking for maybe a cheaper company as this vehicle will barely be used and only for off-roading.

We have 5 vehicles with State Farm. My K5 being one of those. I'm sure you can probably get cheaper insurance somewhere else, but I can honestly say that it would have to be significantly cheaper for me to switch. My wife had an accident last summer and we basically did nothing. State Farm took care of everything and her vehicle was back on the road in a week. It was so easy and hassle free that I was almost waiting on something to go wrong. Proof that you get what you pay for. My father had insurance with All State and trust me "You are NOT in good hands". They did him in good. He got 3 estimates of around $10k to fix his truck. All State paid him $1700. Attorney told him by the time he fought it he would end up losing money. Insurance is no good if it doesn't pay when you need it. Just my two cents.

 

[B_to_C]

i wish i only paid around 500 a year

im paying a little over 3 grand a year, with only comprehnsive or whatever it is,
i wonder if 1 accident, losing my license twice and getting about 6 tickets would have anything to do with it?

oh and im only 17

I was paying $1800 a year in Mass for just the basics. In colorado, with MORE coverage I pay $875

 

[dyeager535]

Check out farmers. They have something called a "garage policy" for multiple vehicles. Essentially it is for very rarely driven vehicles...you call them when you want to use it, so its insured at that time, then when done with it, you call them and tell them to discontinue coverage.

They don't screw you either...you pay something like $9/month or 6 months if you never use it, and when you do use it, the cost is pro-rated against what the coverage is that you select when you initially join them. So even if you had to use it for 6 months, it would still only cost what it would if you kept non-garage coverage on it, if that makes sense.

That's how I have my truck insured, works good. They are the only company I am aware of that offers this. Way back in the day when I had Geico they had something similar, but it just didn't cost any extra to add a "recreation" vehicle in with a daily driver. They stopped doing that according to the last Geico rep I talked with.

 

[gjk5]

I have liability and comp on my '72 K5, $500 ded., and they let me do temporary or sporadic coverage which means that I only pay when I use it. I usually have it lapse in the winter and will reinstate next month, but you can do any time as long as it's at least a one month period. This is especially helpful when you may have some big projects to do and it will be inoperative for a while. I pay approx. $26/ month for this coverage when it is in force.



Hope that helps.




Oh, this is through State Farm as well.

 

[Derf00]

Before paying higher premiums for a low deductable, find out what the cash value of your K5 would be if wrecked. My '90 which is in great condition, was hit in the side last year. The best estimate to complete the repairs was $3100. The ins co of the old bat that hit the Jimmy said the cash value of the Jimmy with 180,000 mi on it was $2100.00 regardless of the extras or condition and that is all they would pay, and considered it totaled.

I didn't agree, but after consulting with my ins and an attorney I had to accept their offer less the salvage value, $200, and I kept the title. Now all I carry is liability. The money I am saving will quickly pay for the difference in coverage based upon cash value.

 

[Cmoe]

A friend has his covered with a special insurance company that only alows him to drive to an from organized events. and it was really cheap...like a couple hundred a year if I remember right....

 

[pauly383]

Reading some of these prices in this thread is scary . I have American Family , 83 Blazer and 2003 Impala both with full coverage with higher collision amounts etc , and my homeowners insurance with fire , theft , etc . I pay 125 a month , thats 1500 a year for everything I could think of except a low deductible , my deductible is 500 , which helps me not abuse it and use it to fix my rockers ( can you say sliders ) . The only thing I don't like is the Blazer is valued at "fair market value" so I get the average from the local market in my pocket to buy another in case of totalling it .