Classic Car Insurance for 12V

[vastan]

I am the original owner of a 1997 Dodge Ram 2500 4x4 12v Cummins club cab long bed with only 130k miles. The truck is in almost pristine condition with many upgrades. Not certain if anyone has had success getting their 12v insured for a value that is more representative of what the current used car market demands, which is well north of $20k for a low mileage 12v rig in pristine shape. I should mention that I checked with JC Taylor, Grundy, American Collectors and Hagerty. Only Hagerty provided a quote for a full coverage policy at $2k per year for an agreed insured value of $35k. Has to be garaged and no more than 5k miles per year. I appreciate any help.

 

[jgillott]

I have my Square Body Chevy on an agreed value policy with American Collectors. It is a limited use policy with a stipulation that I have another policy with other vehicles that are used as my daily drivers. It is drastically less expensive than what you quoted. If you are not using your truck as a daily driver, you may want to research that angle to see if it can offer you some savings.

 

[bcbender]

Hagerty is who I use for the Camaro and Chevelle, both agreed value and both very reasonable, not sure why your quote was soo high, mine is 1/2 that with more than double the value on each car. I will probably move the Bronco to one this year as I don't exceed the annual mileage anymore with so many vehicles.

 

[Cummins12V98]

Full coverage means replacement value. Total it they have to find a comparable rig for comparison. They will try to short change you but buy quality Insurance and life will be better if anything happens.

 

[Timd32]

I have Hagerty on my '63, wonder why so high?

Have to have the things others have stated: need other vehicle, other insurance, I did list mine as a driver not just a show vehicle, there is no mileage limits, I read thru it again to see if I missed that part, they asked how much I would drive the vehicle and I said 3x a week 60 miles a day. So by my calculation it's well below your 5200 miles per year you have on your truck, so maybe the mileage and the 3x value is 7x in price, not sure.

They have a ton of options like show travel only, insurance during build of project, it's pretty endless.

When I filled out the info online they scheduled a follow up interview phone call and we spent a while talking over the policy.

I also bumped up every possible check box, at $2k this seems like it might be your only vehicle?

The 5k mile limit is in line with your 130k over 25 years, so unless you now decide to take this above and beyond.

What was the break out of the policy quote, for $12k Guaranteed Value here is what I had under the policy Truck/Jeep/SUV?

Key Fact sheet for the policy attached as well.

 

[Timd32]

Here is the actual insurance on my 96 2500, I have it under my regular auto policy as an ACV policy. What does that mean, who knows I tried to max out what I can. If you have extras it's my understanding you can provide a list of add on parts and they will do a separate rider for the performance and add parts.

Sounds like you might want to get a 3rd Party Appraisal of your rig and shop that or work with them, I think I was quoted like $400-600 for that on my 2500 from a local service. When in one piece I would value my 2nd Gen at $25k. But with out an appraisal or a 3rd party that's just my opinion. I have a lot of back up paperwork to support that value. Bit most is meaningless.

Good luck with your search.

 

[Wiredawg]

My insurance company had me take several pics and narrative of vehicle. They appraised at the time $30K, which I agreed. My 78 LRE is insured as an antique and has a 2,500 mile per year driving limit. I have TX antique tags too that are fairly limited but works for me. I just paid $340 for a year.

 

[Brandilen]

I am the original owner of a 1997 Dodge Ram 2500 4x4 12v Cummins club cab long bed with only 130k miles. The truck is in almost pristine condition with many upgrades. Not certain if anyone has had success getting their 12v insured for a value that is more representative of what the current used car market demands, which is well north of $20k for a low mileage 12v rig in pristine shape. I should mention that I checked with JC Taylor, Grundy, American Collectors and Hagerty. Only Hagerty provided a quote for a full coverage policy at $2k per year for an agreed insured value of $35k. Has to be garaged and no more than 5k miles per year. I appreciate any help.

My son has an '01 2500, and was in an accident - he had full coverage but nothing special. The insurance wanted to total it ($11k worth of damage). He fought them with evidence of market value and won. It did take a couple of months, but I guess the point is, He didnt have classic car insurance, and still got the money from the insurance, and didnt end up with a salvage title.
Hope that helps

 

[Cummins12V98]

MOST people give up and take what the Ins Co offers.

 

[vastan]

I appreciate everyone's input. Just to clarify a few things.

• Have two daily drivers (2 Jeep Wranglers), i.e. this is not my daily driver and is not used for work such as towing trailers.
• Put no more than 1500 miles per year on the rig
• Its garage kept at my residence
• Saved all my receipts for all upgrades (ATS turbo, 4" stainless exhaust....) which totaled approximately $20k
• Provided comprehensive set of pics and copies of all original receipts including the original purchase price in July of 1996 of $29,300

All of the insurance carriers told me that the second generation Dodge trucks with or without the 12V Cummins are not considered classic vehicles. Hence, they would not insure them or quoted a ridiculous price such as Hagerty.

Good to know that if something should happen (I am currently with Safeco for auto insurance and pay $450 per year for $500k limit full cover) that they may pay more than the NADA value of $12k.

I will keep looking and let everyone know if I find a reputable insurance company that realizes the potential market for insuring these trucks as true classics.

Thanks again to everyone that replied to my post.

Vastan

 

[vastan]

SUCCESS!!

I was able to get American Collectors Insurance to insure my '97 Dodge Ram 2500 as a classic vehicle for $617 per year for an Agreed Value of $30k with the following full coverage (250/500/100), $500 deductible and a limit of 2500 miles per year.

Thanks to everyone for their input.

Vastan

 

[GAmes]

2500 miles a year? I drive more than that in a week.