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Old 04-11-2019, 04:21 PM   #1 (permalink)
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How are you guys insuring your older tow rigs?

I'm looking for insurance for a non-daily driven 80's F350 tow rig. I want stated value or agreed value, so I don't get a pat on the back and $1500 if it gets totaled. Is there any companies that write such a policy?

Hagerty will technically insure it, but if they found out I was using it for tow duty they'd probably be pissed, and maybe not pay a claim (since it wouldn't be used for a collector car type function).

Are you guys using collector car insurance and just rolling the dice or what?
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Old 04-11-2019, 04:28 PM   #2 (permalink)
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Hagerty will technically insure it, but if they found out I was using it for tow duty they'd probably be pissed, and maybe not pay a claim (since it wouldn't be used for a collector car type function).
I have my two trucks insured with Grundy. They say explicitly that they are not to be used as trucks and I'm sure they would be mightily unhappy if I towed with them.
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Old 04-11-2019, 04:29 PM   #3 (permalink)
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So do you just hope for the best?
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Old 04-11-2019, 04:31 PM   #4 (permalink)
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So do you just hope for the best?
I try to avoid using them in that role. If you plan on towing, I would avoid classic car insurance.
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Old 04-11-2019, 05:16 PM   #5 (permalink)
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When did an 80s F350 jump in value over $1500?
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Old 04-11-2019, 05:18 PM   #6 (permalink)
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Well, when it's a CCLB 4x4 with a P-pump cummins and some rust repair. Oh yeah, and the front axle is worth $1500 alone to some people, so there's that.
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Old 04-11-2019, 06:05 PM   #7 (permalink)
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I always wondered what would happen if my 97 cclb F350 4x4 7.3/5spd was totalled. With 325k on it, it bluebooks for like $4500 but you can't hardly replace it for $10k.

My buddies dad had a tree fall on his truck that was nearly identical but 200k and they gave him $13.5k without him having to argue. He was also able to buy it back for like $300

If you have coverage for the incident, you can argue market value.
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Old 04-11-2019, 06:06 PM   #8 (permalink)
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Good to know. Thanks!
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Old 04-12-2019, 08:18 AM   #9 (permalink)
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Well, when it's a CCLB 4x4 with a P-pump cummins and some rust repair. Oh yeah, and the front axle is worth $1500 alone to some people, so there's that.
I know fully that I'd be keeping the totalled hulk for parts... plus whatever payout I can negotiate. Build another truck. I have to accept that eventuality.

Can't tow/haul with collector policy. (Not here anyways). Also not feasible to meet the "original and shiny" requirement..... so i'm out on both counts. It likely cannot be your primary (only) insured vehicle either.

One trick I picked up is its cheaper to insure an older passenger vehicle (E350 wagon, suburban, Bronco, etc) for towpig duty because there's no declared gvwr/gcwr attached to the policy.

JMHO, but insurance is a scam. Buy as little as possible (cover yourself against liability) and build your own emergency fund instead.
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Old 04-12-2019, 09:35 AM   #10 (permalink)
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Just do what most of us do with a street legal off-road rigs. Take the offer, keep the rig and repair it under a salvage title.
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Old 04-16-2019, 07:28 PM   #11 (permalink)
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Might be easier since I live in Iowa, and my insurance agency are tractor pullers, and know motorheads and stuff, but my old truck is listed as "farm use".
I do live in the country, so that helps with the farm thing,,,,,,,
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Old 04-17-2019, 05:32 AM   #12 (permalink)
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JMHO, but insurance is a scam. Buy as little as possible (cover yourself against liability) and build your own emergency fund instead.
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Old 04-17-2019, 07:20 AM   #13 (permalink)
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See if you can get some kind of customization policy. I pay a little extra for X amount of extra $ value coverage as long as you have receipts. I use this on my Jeep (more worried about it being stolen, hopefully get some of the aftermarket parts covered if so) and was debating on putting it on my old F350 before I bought a new truck.
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Old 04-17-2019, 09:32 AM   #14 (permalink)
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Quote:
Originally Posted by YotaAtieToo View Post
I always wondered what would happen if my 97 cclb F350 4x4 7.3/5spd was totalled. With 325k on it, it bluebooks for like $4500 but you can't hardly replace it for $10k.

My buddies dad had a tree fall on his truck that was nearly identical but 200k and they gave him $13.5k without him having to argue. He was also able to buy it back for like $300

If you have coverage for the incident, you can argue market value.
I had the same thing happen. 180K 2005 Sierra 1500. I thought I was in fora a fight over the value as it was booking out around 9k-ish depending on what I picked as options. I got 11.5K back which put it way over what I was comparing it to. I took it and ran.
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Old 04-17-2019, 09:54 AM   #15 (permalink)
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I have both my trucks insured with Progressive. 86 K30 had a full coverage stated value policy that included towing. The value was $25,000 but I had to give them pictures. I dropped it to liability a few years ago. I have my F750 insured with them now with a value of $35,000 and they did a personal use commercial policy because of the GVW.
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Old 04-17-2019, 10:12 AM   #16 (permalink)
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I have both my trucks insured with Progressive. 86 K30 had a full coverage stated value policy that included towing. The value was $25,000 but I had to give them pictures. I dropped it to liability a few years ago. I have my F750 insured with them now with a value of $35,000 and they did a personal use commercial policy because of the GVW.
How much did those policies cost you? If you don't mind sharing.
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Old 04-17-2019, 05:48 PM   #17 (permalink)
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How much did those policies cost you? If you don't mind sharing.
The F750 is $419 for 6 months. $1k deductible, $250k/$500k limits. I can't remember on the Chevy since my wife pays it but I think the full coverage was less.
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Old 04-26-2019, 12:04 PM   #18 (permalink)
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My F-700 Box truck that is currently converted to and titled as a Motor home has a Progressive agreed value policy.
I love these agreed value policys. There are no real surprises when it comes to a total loss.

They know it tows.
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Old 04-26-2019, 02:32 PM   #19 (permalink)
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The trucks that aren't drivable IE the old square bodies are insured as projects, so still registered but only insured to keep them registered as if the insurance lapses the registration does also.

With my DD truck having full coverage the add on of the 3 trucks I'm not driving is 10.00 each every 6 months.
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