Insurance on Older Trucks

Paging @wore out & @W900AOwner they might be able to point you in the right direction

 

Are you talking full coverage or just liability? I've never had trouble getting liability on a older truck, and I've had a 1964 Autocar insured.

I can see you running into problems with full coverage on a older truck, and when you do find it, it is expensive. We just drop back to liability on older trucks.

 

Both of my 1978 W900's are on my commercial policy, and unfortunately Progressive is the underwriter. They're the only ones that would do it through my agent apparently, so I go with it. They are a pain in the tookus though. I wanted to drop the insurance on one of them a month ago so I can save a few bucks while I do some renovations to one of them, and they insisted that I return the license plates and show proof that I did to them in order to drop the coverage, which erked me a bit but I did.

The other issue they have with me is I wanted to insure one of them with a different underwriter because it could have been a bit less money to do it that way, but they have a problem with that and demand that you have ALL of your commercial coverage with them or NONE. Well, I have a little bad news for the nazi insurance company when it comes time to re-insure that one they forced me to pull the plates off of...they ain't getting that one back, there's more than one way to skin a cat...

As for full coverage on an older truck; it's a tough call. When you invest north of $50K into a daily runner like I did last year, you'd hate to wreck it and have them give you book value on a 40 year old truck, so the key is to have it professionally appraised and submit the appraisal to the insurer so they believe the actual value, and you can get as much coverage as possible that way. I'm sure it'd still be a battle right to the finish regardless of what you have it appraised for though, unless you keep every single receipt for parts and whatnot. These insurance companies don't just jump for joy as they write us out settlement checks for the amounts that we want or expect. It's always a fight to the end, but they sure want their payment every month OR ELSE...

I hate insurance, lol.

 

I found that any antique automobile appraisal firm will be helpful in giving you a full report and appraisal that you can take to the insurance agent and explain to them that you want this extended coverage on this vehicle based on the investment. It's a little bit of a tedious process, but worth the effort.
Hope that helps.

 

I am in the same boat right now. I have my 1985 359 insured at 90,000$. I am in the process of buying a 1986 359 100% restored. Total cost of restore is 272,684$. Trying to get truck insured for 150,000$. So far no luck. Need an appraiser that actually knows trucks to help me out. I’m not looking for the $272,000. But I need at least $150,000. Truck will be working everyday just like my current 359. I can’t spend $160,000 on a brand new truck that doesn’t hold a candle to the older ones.

 

my policy is written threw national casualty ins. they insured a 1986 trailer that i have. i no longer carry full coverage on that trailer but i used to and they wrote the policy with a declared value. they did require some additional inspection due to its age. and even though i don't have insurance on that trailer now they still ask for my dot annual inspection for that trailer every year but yet they don't ask for it for any of the other equipment i own. not a big deal though.