Tractor Insurance value

@starmac could probably answer this. He is going through this.

 

Market value is what someone is willing to pay you for it.

 

Market value for a 90s fld 120 is not much. If you rebuilt the motor, trans, and rears, it's worth maybe 35, I'm assuming its either an n14 or 12.7.

 

Think about it this way


How much would it cost to replace the truck?

 

Overhaul counted only if done within a year ...

 

You’ll have to decide a dollar amount. My guess is $25 k is about the most you’d get. And proof of the major work,( receipts) at that. Worst case scenario, you can buy it back, if totaled, and fix it yourself. Or part it out, for a new Truck to build. They search for a comparable Truck for sale.Only guarantee replacement cost. Good Luck, with that. Definitely will have to fight them, with proof, receipts, My 99, 11 yrs ago was valued at $17-$21, I got $21k with OH papers. Barely purchased a similar Truck. Best to buy it back, fix yourself if possible. In a case like yours,( or mine)

 

For a 24 year old 1995 freightliner? To say if totaled you might get as much as $10,000 is a stretch. You hit a deer and do $6000 damage there gonna total it.
They dont care how much you spent, or parts you put on. Its goes by book value period. Exception is if it's an antique or something super special. But then it has to be appraised by there inspector. And rates for that are gonna be HIGH.

 

I had my 95 KW valued at $50k and it cost me more to insure that 3 years ago than what I’m currently paying for my 17 Pete. I raised the value simply to make sure they wouldn’t be so quick to total it if I hit a deer or some other minor thing. If I would’ve laid it over or something I would’ve been lucky to get $25k.

 

I kind of wondered about this to. My truck is insured for 50k but just did a rebuild that cost 29K. So wonder if I need to raise the insurance to say 70k. Figure I will get screwed no matter what as insurance always wins.

 

What they do is find so many similar speced trucks for sale and average the asking prices for them, truck paper or whatever, and that is what they offer you. I have in the past told them to just fix it then and started a haggling process, and they will come up some, this was on a 4 wheeler, and dealing with someone elses insurance, not my own.

A 90's freightliner, market price is not going to be a lot, unless is has some heavy specs or something, they will haggle some if you have the maintenance records and can prove you have recently spent some bucks on it. I was told to have my maintenance records available on the one I just wrecked, but we finally came to an agreement yesterday, and they had not ask to see them yet.
If it is repairable, you can usually get it back pretty quick, the process my insurance co uses is they put it up for auction and get a bid, but you have first chance to match that bid. We skipped that deal because of the time it was going to take to get an auction bid on mine, plus they were going to have more towing in it to get it to the salvage yard where they auctioned them. They had already been out way over 10 grand on the tow bill.