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Insurance. Bitches, Moans, and Complaints

Spartan76

Jr. Member
Joined
Jun 21, 2015
Messages
128
Scene setter: (2) licensed drivers in the house. (2) vehicles. (1) a 2015 Explorer. (1) a 1976 Bronco.

Dilemma: You all know what's coming, insurance company will only insure the sold as new in 1976 value of the Bronco.

I simply want to insure the Bronco against total loss for what it's worth. Hell, even a policy that will pay me what I paid for it. Because its a daily driver and the second vehicle of a house with two licensed drivers, no go.

Talked to all the big name insurers, and just got the Heisman from Grundy.

Insurance Companies, a business. Goals of a business, make money. I want to insure for X dollar amount. How much is my premium, take my money. No? WTF.
 

broncodriver99

Bronco Guru
Joined
Jan 27, 2008
Messages
4,780
Loc.
Glen Allen, VA
Have you tried American Collectors? I ended up with them through American Bankers through my local Farm Bureau. I have an agreed value policy.

I tried Grundy and another I can't remember and both wanted to insure at least one daily driver vehicle in order to insure my bronco. Neither of them could touch my rates with USAA. I think I even had issues with American Collectors directly but when it was underwritten by Farm Bureau no more problems. USAA was the same situation you are having, they called it "actual cash value" which noone could give me an actual insured number.

I have seen guys on here talk about State Farm offering agreed value, may be worth a shot.
 

blubuckaroo

Grease Monkey
Joined
Jun 11, 2007
Messages
11,795
Loc.
Ridgefield WA
I'm in the same boat. I've been putting this off, but seeing Bronco values as they are, I've gotta do something.
The collector car insurance companies, I've contacted, won't insure for my use. They were set up for stored cars and show cars.
Sure, I guess I could get a policy from one of them and lie about why I was driving the car when it got wrecked/stolen, but I'm not that type.
So, I'm looking for real useful info too and experiences on this subject too.
 
OP
OP
Spartan76

Spartan76

Jr. Member
Joined
Jun 21, 2015
Messages
128
Have you tried American Collectors? I ended up with them through American Bankers through my local Farm Bureau. I have an agreed value policy.

I tried Grundy and another I can't remember and both wanted to insure at least one daily driver vehicle in order to insure my bronco. Neither of them could touch my rates with USAA. I think I even had issues with American Collectors directly but when it was underwritten by Farm Bureau no more problems. USAA was the same situation you are having, they called it "actual cash value" which noone could give me an actual insured number.

I have seen guys on here talk about State Farm offering agreed value, may be worth a shot.
I'll try American Bankers. State Farm was a no-go, and we currently have USAA. Thanks for the info.
 

Rob1962

Bronco Guru
Joined
Nov 29, 2006
Messages
1,681
I'll try American Bankers. State Farm was a no-go, and we currently have USAA. Thanks for the info.

American Collectors is the referral I got from USAA for my classic cars. I too have stated value policies with American Collectors. The only catch is there are mileage limits, and the coverage is limited to "non-destinational" driving which means, I believe, you're covered for a sunday pleasure drive with no real destination in mind, but probably not for driving it back and forth to work everyday.

I think the key point here is if you treat and use it like an everyday regular car as opposed to a collector car, you're only going to get everyday coverage which translates into lower value, although if you're policy is for ACV, you have an argument based on market values, not NADA values.
 

Nothing Special

Sr. Member
Joined
Nov 25, 2016
Messages
804
Not saying my solution is for everyone, but I deal with it by only having liability insurance on my Bronco.

My baseline thinking for that is that insurance companies are profitable. That means that they take in more in premiums than they pay out in settlements. And that means that, in general, it costs you more to insure anything than you'd lose if it wasn't insured.

This applies to everything, not just vehicles. But the take-home isn't to not insure anything. For instance medical insurance, homeowners insurance and auto liability insurance. Most people will pay more in premiums than they will ever get in settlements on those. But the people that get settlements might have been ruined financially if they didn't have insurance.

So the take-home for me is to not insure anything I can afford to lose. Sure, it'd hurt financially if my Bronco was totaled. But odds are I'd have saved enough in premiums to make up the difference.

Of course I have 2 drivers and 3 vehicles, so I wouldn't have to replace the Bronco right away if it was totaled. If it is your only transportation option then maybe you can't afford to lose it and you should insure it. But do keep in mind that the insurance company will be profitable, so odds are that insuring it will cost you more than not insuring it would.
 

nvrstuk

Contributor
Just a Bronco driver for over 50 yrs!
Joined
Jul 31, 2001
Messages
8,614
Do a search on this forum (yeah, I know this forum has the worst search engine I've ever encountered) BUT try anyway because there are at least a 1/2 dozen threads ...

State Farm wants your house on the insurance policy also (at least 2 different agents I talked to said this)

Collectors car policy severely limit your coverage... most will NOT cover you if you drive off-road...most companies define off-road as gravel, dirt, sand, etc

Drive on a USFS road...not covered

Drive on a beach that a State Trooper can ticket you on AND it has a speed limit...not covered...

etc.

Be VERY specific on your questions...took me a year to find coverage after the company that had insurance my Bronco since 1976 said they'd only cover "stock vehicle". If I had made ANY changes to it those would not be covered... wheels, tires, (obvious), ENGINE, TRANNY front end, rear end, gear doubler, bumpers, seats, hood, you get the picture...

Be careful...I think most guys THINK they're covered but many aren't... lots of guys in these threads say who they're covered with such and such and some of those companies state very clearly that they don't cover any claims off road...

Good luck
 

nvrstuk

Contributor
Just a Bronco driver for over 50 yrs!
Joined
Jul 31, 2001
Messages
8,614
Not saying my solution is for everyone, but I deal with it by only having liability insurance on my Bronco.

My baseline thinking for that is that insurance companies are profitable. That means that they take in more in premiums than they pay out in settlements. And that means that, in general, it costs you more to insure anything than you'd lose if it wasn't insured.

This applies to everything, not just vehicles. But the take-home isn't to not insure anything. For instance medical insurance, homeowners insurance and auto liability insurance. Most people will pay more in premiums than they will ever get in settlements on those. But the people that get settlements might have been ruined financially if they didn't have insurance.

So the take-home for me is to not insure anything I can afford to lose. Sure, it'd hurt financially if my Bronco was totaled. But odds are I'd have saved enough in premiums to make up the difference.

Of course I have 2 drivers and 3 vehicles, so I wouldn't have to replace the Bronco right away if it was totaled. If it is your only transportation option then maybe you can't afford to lose it and you should insure it. But do keep in mind that the insurance company will be profitable, so odds are that insuring it will cost you more than not insuring it would.



Sorry i had to quote the whole post but ...

What if you happen to buy a "new" old car or Bronco...you're hauling it home or you have had it for a week and it catches on fire...can't sue anybody for hitting you and you're out $15-40,000??? that's a lot of years of premium payments?

I now pay under $300/yr for $30,000 coverage. In 10 years I've paid out $3,000 dollars and don't have to worry quite so much about getting t-boned by an uninsured motorist or causing a total of my vehicle with it being my fault... a LOT of piece of mind for $3K for 10 years!!

Just my take, glad your's works for you too.
 

Crush

Contributor
Bronco Guru
Joined
May 30, 2007
Messages
3,463
Loc.
Greenbottom, WV
My agent that insurance through couldnt insure my bronco with them, so she also sells Hagerty and a few others. I told her to shop it around and I wanted to drive it ant way I wanted to for as many miles as I want to. She understood that I wanted to go camping, drive forest roads, use on trails and with unlimited miles. She was able to get me a full coverage policy with my requirements from hagerty for the same $300 a year nvrstuk. I also required a $30,000 stated/agreed value policy. made sure she understood that I didn't want to be depreciated if something happened where it was a total loss/stolen and not get my $30,000. Also told her about the broncos increasing values and how I had under insured it at that amount. she was able to get me what I wanted from Hagerty. the only thing they wont cover is if Im Rock crawling or some other extreme 4x4 activity and I roll it or try to claim damage from rocks and trees. It prolly helped that when I did this Hagert had just published an article about the Bronco being a sound investment and up and coming vehicle

so get with your current agent and see what they can do with other companies.
 

B RON CO

Contributor
Bronco Guru
Joined
Jun 29, 2016
Messages
2,413
Loc.
Statesville, NC
Hi, I use Hagerty after company G kept increasing the premium.
My friend couldn't get anyone to insure a high end muscle car for $70,000 until he talked to State Farm. I don't remember what he is paying, but I know he is happy.
Part of your situation, as you know, is the daily driver, not weekend cruiser thing. They should at least give you the option of a realistic value in case something causes you to file a claim.
Good luck
 

FordBronc

Contributor
Bronco's, yea I have a couple.
Joined
Dec 26, 2010
Messages
1,413
Loc.
Polk County, Missouri
Check out Safco for classic vehicle insurance. I use them for my 2 older Ford trucks (not that old a 77 and 79) and got to pic the amount to insure them for. With no special limitations on mileage, storage ect...
 

toddz69

Sponsor/Vendor
Bronco Guru
Joined
Nov 28, 2001
Messages
10,080
My agent that insurance through couldnt insure my bronco with them, so she also sells Hagerty and a few others. I told her to shop it around and I wanted to drive it ant way I wanted to for as many miles as I want to. She understood that I wanted to go camping, drive forest roads, use on trails and with unlimited miles. She was able to get me a full coverage policy with my requirements from hagerty for the same $300 a year nvrstuk. I also required a $30,000 stated/agreed value policy. made sure she understood that I didn't want to be depreciated if something happened where it was a total loss/stolen and not get my $30,000. Also told her about the broncos increasing values and how I had under insured it at that amount. she was able to get me what I wanted from Hagerty. the only thing they wont cover is if Im Rock crawling or some other extreme 4x4 activity and I roll it or try to claim damage from rocks and trees. It prolly helped that when I did this Hagert had just published an article about the Bronco being a sound investment and up and coming vehicle

so get with your current agent and see what they can do with other companies.

Hagerty is one of the companies I'm sure nvrstuk is talking about. We've both had similar experiences with them. The last time I talked to them in 2015, I talked to a rep about insuring my truck and told her about an upcoming camping trip. "Oh sir, we can't cover you for that". I replied, "Well, it's all on paved roads and the roads in the campground are all paved". "I'm sorry, sir, we don't offer coverage for that". So I'd be very wary of Hagerty if you use your truck for anything over than car shows and pleasure cruises. PM Izzy on this site - he's an insurance agent and was very helpful a few years ago when I had a lot of questions.

Todd Z.
 

Crush

Contributor
Bronco Guru
Joined
May 30, 2007
Messages
3,463
Loc.
Greenbottom, WV
I was very diligent wit MY AGENT and she talked to HER hagerty rep. It wasnt a guy off the street calling them. She told meshe was able to get me what i wanted because we ad insurence with her already and her contact with hagerty was workjng with her. I have used this insurance agent for twenty years and she bas ever failed me. I told her if i couldnt get the coverage i wanted then i woukdnt get it until i could. I was sitting there when she ssked the questions to her rep and she has assured me that i havethe coverage i want. Also i have read th policy and there are no exclusions I was not expecting. I guess it just depends on who u talk to and who does the talking
 

toddz69

Sponsor/Vendor
Bronco Guru
Joined
Nov 28, 2001
Messages
10,080
I was very diligent wit MY AGENT and she talked to HER hagerty rep. It wasnt a guy off the street calling them. She told meshe was able to get me what i wanted because we ad insurence with her already and her contact with hagerty was workjng with her. I have used this insurance agent for twenty years and she bas ever failed me. I told her if i couldnt get the coverage i wanted then i woukdnt get it until i could. I was sitting there when she ssked the questions to her rep and she has assured me that i havethe coverage i want. Also i have read th policy and there are no exclusions I was not expecting. I guess it just depends on who u talk to and who does the talking

Sounds like you're in good shape and good to go!

Todd Z.
 

ep67bro

Contributor
Bronco Junky
Joined
Aug 28, 2008
Messages
3,642
Loc.
Easton, MD
I have Hagerty on both of mine. Did an agreed value. They just wanted pictures of both trucks and wanted to know if they were stored inside. I told them one was and one was not. They did say that they were for limited use, weekends, car shows, events. Not daily driven. My premium is low think I got one insured for $10K the other for $20K. With the prices these days I guess I should change it!
 

Slowleak

Bronco Guru
Joined
Sep 12, 2013
Messages
3,732
Loc.
Georgia
I use Hagerty as well and have had mixed responses when speaking with them. They cover you with the assumption that you will treat your vehicle as a classic collectible and not a daily driver. Anything that you say that implies that you may not be doing so will force them to start spitting out disclaimers. If you do file a claim, it is pretty much up to the adjuster to decide if you were abusing the policy and “breaking the rules”.

I asked specifically about camping. Camping is not covered because it involves leaving the Bronco outside, not because of the roads.
 

Tugross302

Sr. Member
Joined
Jul 7, 2010
Messages
785
Scene setter: (2) licensed drivers in the house. (2) vehicles. (1) a 2015 Explorer. (1) a 1976 Bronco.

Dilemma: You all know what's coming, insurance company will only insure the sold as new in 1976 value of the Bronco.

I simply want to insure the Bronco against total loss for what it's worth. Hell, even a policy that will pay me what I paid for it. Because its a daily driver and the second vehicle of a house with two licensed drivers, no go.

Talked to all the big name insurers, and just got the Heisman from Grundy.

Insurance Companies, a business. Goals of a business, make money. I want to insure for X dollar amount. How much is my premium, take my money. No? WTF.
Maybe your state is different but what I see is that you have two licensed drivers and two cars. From that then each of you is assigned to one car as the primary driver. Can you not buy an old beater for $500 and put just liability insurance on it and call that your daily driver then insure your bronco through Grundy or haggerty at an agreed value? That’s basically what I do although I have 4 drivers 2 Broncos and 7 cars in my household. I pay a total of about $500 per year to insure my broncos thru haggerty and I drive them every chance I get. Although I don’t take them off road I will try to re read my policy since I don’t remember seeing those restrictions
 

jw0747

Contributor
Bronco Guru
Joined
Nov 22, 2006
Messages
2,434
Loc.
San Antonio, TX
An Actual Cash Value policy, which is industry standard represents the market value of your vehicle or how much your vehicle is worth at the time of assessment. This means that if you have the paperwork and documents to solidly verify the market value of your Bronco that is its actual cash value which is what the insurer is required to pay. This is the type policy I have on all my cars with USAA because stated value policies are too restrictive on usage. If the vehicle market at the time of assessment indicates an early Bronco similar to mine with its paperwork can't be replaced for less than $25,000, then that is its actual cash value or its market value.
 
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