Insurance

[ChiScouter]

Since I hope to be back on the road in the next few weeks I will have to re insure the rig. For me standard value of a 24 yo rig probably wouldn't cover the cost of my tires, wheels, and stereo. I know Glancy does apprasials for stock rigs, but I am not sure if that is the way to go on a highly modified rig. Also there is no way to get it to him for a look see.

So how are you guys covering yourselves?






Please no stories about chocloate or oil

[Hooper]

I gave him the specs, and some pics, and he gave me an appraisal. I took it to my insurance company, and they said they would be happy to insure me for that amount, if I was happy to pay the premium. We shook hands, signed on the dotted line and were done.

Not sure if they would be willing to do this with all companies though. After all, they would rather total out a $1000 rig, than a $10k rig....

But, State Farm has always treated me well and taken good care of me, so...

[Mechanos]

You can insure virtually any rig for whatever amount you want. You just pay a premium based on how much you've insured it for. The real catch seems to be getting them to pay on a claim. If it gets stolen, that's one thing, but if you total it doing something "stupid" off-road, a lot of insurance companies with bawk when it comes to claim time. If you have $5000 into it, insure it for $5000 replacement value (more if you want to reimburse yourself for time invested). The way I see it, if you total it while out wheelin', then that's the breaks.... that's part of the risk we take to do what we love. The down side is, if you're driving around on the roads and get into an accident, a lot of companies won't cover it because it's "modified", but they'll gladly take your cash for the premium.

[Hooper]

Originally posted by TORC
You can insure virtually any rig for whatever amount you want. You just pay a premium based on how much you've insured it for. The real catch seems to be getting them to pay on a claim. If it gets stolen, that's one thing, but if you total it doing something "stupid" off-road, a lot of insurance companies with bawk when it comes to claim time. If you have $5000 into it, insure it for $5000 replacement value (more if you want to reimburse yourself for time invested). The way I see it, if you total it while out wheelin', then that's the breaks.... that's part of the risk we take to do what we love. The down side is, if you're driving around on the roads and get into an accident, a lot of companies won't cover it because it's "modified", but they'll gladly take your cash for the premium.

Short of a multi roll drop, or burning it to the ground, how do you total out a rig on the trail? Even if you crack the frame, it is repairable. I suppose if you REALLY tweaked the frame (rammed a corner into something) you might have to total the frame, but, still, the rig isn't totalled, you just need to swap the frame...

But then, I am thinking IH. I suppose some of the fancy rigs with lots of glass, and sheetmetal roofs, etc, you could damage enough to want to total it out...? <shrug>

[T1H5_TA3]

its called an agreed value policy, its a premium choice, and requires documentation. alot of places wont do them. and those that do.. well get out the platinum card.. been there done that,

[Mechanos]

Well, I was talking about a mega multi roll or buring it to the ground, but when you look at the insurance companies definition of totaled, we're talking a few hundred. Really, I was thinking more along the lines of a nasty roll like that video of the Jeep in the General Forum not too long ago... multiple rolls, bent axles, etc.

[ChiScouter]

I'm mostly interested in replacment value on the rig if it is stolen.

My insurance agent as been one of my best friends since 1st grade. When we discussed putting coverage on it he didn't seem to have a strong opinion on how to handle the situation. Other than my powertrain he doesn't have a clue as to what else I have done to the rig. I guess that if I was in an accident that they could make quite a fuss over rear discs, shackle reversal, SOA, hi steer, and about 20 other mods done on this board. Maybe I should open the question up to the larger audience on the BB?

Still would like more imput from you guys.

[T1H5_TA3]

if all of the mods, parts, labor etc isnt documented, then chances are they will not do a replacement cost policy, unless you want to pay ALOT of money for an agreed value policy, and alot of places wont do them, esp for built 4x4's.. they know the rig will be abused and more than likely totaled, so they would almost be garenteed to loose $ on it.

[61scout80]

i would stay away from allstate. my sister in law had coverage through them on her cherokee. the truck had about 4" of lift, 33X10.50's and everything else was stock, she pulled in to pay the bill personally, the agent looked out the window and said "we are insuring THAT vehicle!?" and terminated her coverage then. bullshit. the truck was built professionally in a safe manner, in compliance w/ the Pa vehicle code. allstate sucks.


also, maybe you could start by looking in hemmings motor news for some custom car insurance. i know nothing about this, but in my opinion if they are willing to cover a 1500 pound, $30,000 1929 chevy coupe w/ a supercharched 454 and pizza cutter front tires, 1920's suspension, and shitty brakes they may consider a scout.

[Scoutman78]

I use USAA. I'm not sure how they would work with a civillian, but they have always done me right. In 2000 the beast caught fire, destroyed the interior, wiring, windsheild. Pretty much everything but the running gear. An adjuster came out the next day asked me how much all my mods cost and cut me a check for 3k that afternoon. Of course they totaled it, but all they required to insure the vehicle again was pictures of the repairs and reciepts for the painless kit.

My liability and natural disaster coverage is $20 a month.

The reason I say civillian;

SSgt Kiser USAF
Turboprop Craftsman

[Snoopy]

I have Snoopy insured for $10K. It was interesting. I told the lady at the insurance place that I wanted full coverage on it. SHe said that it was fine and only costed about $20 more per month. I didn't think of it too much then but afterward I talked to her again and asked what they'd give me for Snoopy if it got wreched. Answer: $200

I asked here about upping that a bit since it's a *little* fixed up. SHe said sure, and asked how much ~ I said $10K. She said sure, just get an appraisal and we can insure it for as much as the appraisal. Then I started thinking about costs ~ "Ok" I say, "if it comes in for $10K, how much do you think it'll cost to insure it for that much?"

She did some figuring and after all said and done, it cost NOTHING more to insure it for $10k ~ I was shocked...no additional premium for haveing the full-coverage raised to the $10k mark. SWEET!

"How does that work?" I ask ~ the answer was simple. Think about the *average* car/suv (that carries full coverage) driving on the road, what would it cost to replace it? I think it would be a TON more than $10k...so in the grand scheme of things, my $10k Scout is a drop in the bucket when lined up with these new SUV's on the road. Heck, even a no-frills VW golf is 11k new!

All in all, it pays to put a ton of money into your Scout. After all, you can get it back!

[ChiScouter]

Snoop how did you get that apprasial for 10K?

[Snoopy]

Originally posted by ChiScouter
Snoop how did you get that apprasial for 10K?

First, find a guy that can/will give you one, then show him the reciepts!