These trucks are becoming more and more hard to come by in good condition as time goes on. Without an appraisal BEFORE something happens you could be screwed. If you drive your truck on the road, like many of us do, all it takes is 1 idiot screwing up for 1 second to total your baby. Leaving you SOL, fighting with their insurance company for even the "average" value listed below. So please take this advice and don't let it happen to you.

I had just finished getting my '88 up to snuff for CA road use (passed smog less than 60 days before) when some asshole decided to come into my lane, going too fast on a mountain road, hitting me head on. Luckily I survived, though I needed knee surgery and I am facing a long recovery. It really put a lot of things in perspective for me, especially the fact that our trucks are SERIOUSLY under valued by insurance companies, and the tools they use.

My advice is to make sure and keep ALL receipts for anything you do to your truck, especially aftermarket parts/wheels/tires/stereo etc.. Even craigslist/cash deals, get a bill of sale, something. But don't stop there, hire an appraiser to look at your rig, and look at all relevant paperwork/receipts for parts and work done, and documentation of the above average care we give to our trucks. Make sure you can prove what it's worth, or you may be taking a HUGE loss in the event of an accident that is in no way your fault.

Even though I had JUST completely gone through my engine, drive-train, steering components, and brakes, creating a reliable truck with untold miles in its future, his insurance companies offer was insulting. Their appraiser noted it as 'poor' condition, as it has over 200k(broke in) and is not in showroom condition cosmetically, (CA truck, about 1-2 square inches of TOTAL rust, on the bed, faded paint, missing interior door panel[LOL]). I've got a fight on my hands to come anywhere close to recouping my out of pocket losses from this year, even though i purchased this truck for cheap in need of a motor, and got it on the road for honestly bottom dollar for its condition.

I'll stop ranting now, and show you what i'm talking about. I took a pic of the NADA price guide for a '85 Xcab 4x4, which nobody here would disagree is worth more in the market than my '88 IFS truck, but it is not so as far as the resources the insurance companies use. According to these bull˟˟˟˟ programs, a '85 X-cab is only worth $2900 at HIGH retail! Obviously if you check Ebay, or anywhere in the real world, this is not the reality. Moral of the story is, get your truck appraised, by someone who knows the true value of these trucks in the real world, BEFORE something happens and you're fighting to get $2500 for the truck you KNOW you could have sold for double that.

Anyone else want to get in line for an '85 4x4 at these prices?

mods:posted here as the example is an 85, if it needs moved or xposted, by all means.

 

Had the same thing happen. Get collector insurance with a stated value policy.

 

Sorry to hear of your rig. Glad your none to worn for wear, hope full recovery is fast. Thanks for advice.

 

Sorry for your loss

After the first time I am just happy to get the vehicle back

To each there own it turns into a big legal battle the only people that win are the lawyers

You can have all kinds of documents all kinds of receipts in my case the insurance company was planning to go through each receipt to disallow them one at a time

I could have gone to court to contest it would have taken no doubt 2 years or longer .

I took what they offered enough to pay the Roll back and storage bills. Just to get this far took 3 months

 

Sorry man, glad to hear YOUR'E ok though. I get slightly concerned when I drive my older vehicles that don't have airbags because of incidents like this.

I was under the impression that you can usually argue the BB value is inaccurate and sometimes value is based on current used market rates + whatever you can prove with receipts?
If you had it appraised, wouldn't your insurance premium also go up to reflect what they're going to fork out should you file a claim?

MY Toyotas have extreme sentimental value like most of us but when I think about how there are literally hundreds of these 30yr old Toyotas still on the road (compared to the competition), selling for those low BB values - I simply get liability only and figure I could just buy another one and swap my parts over. Definitely cross my fingers the other driver has insurance or that it doesn't get stolen, in which case I'm SOL

 

I have my cars and trucks with Nationwide and they do allow to add for customization and do a stated value. For my 85 celica Supra, they moved me over to Hagerty and it was way cheaper. I think I have my 84 4runner valued at $7000. At that value, my insurance stayed the same, but I guaranteed that I would get that amount. Without it, I would probably get $2500 based on NADA BS.

 

Thanks for the heads ups. Are you guys who are driving it daily getting it appraised by a collector or classic insurance or going through your regular insurance company?

 

Hagerty's doesn't do 4x4's but safeco does. call your insurance agent about stated value coverage.

 

I got rear ended in my k5 blazer was not hurt, but the insurance offer was insulting, Truck was totaled, I had to threaten to take their customer to small claims court to get a fair settlement.

 

I had a similar issue. I came to a fast stop on the freeway and the guy behind me used the bed of my old Ford to stop. The truck was totaled. The guys insurance offered me 1,600$. At that point I threatened to lawyer up and ignored them for about 3 weeks. They finally left me a voicemail offering 4,700$. It's sad but true. All insurance companies will try to get one over on you.
On the flip side I'm now a proud toyota owner! Thank you old ford!

Im going to see what my insurance is covering when it comes to my toys. I am (just like others) afraid to end up loosing them to an accident

 

What collector insurance company will insure an old truck? I've called Grundy and a couple others, none will cover it.

 

Check the first page of this post. One poster is using nationwide for stated value insurance. Also don't hesitate to call an insurance broker and let them know what you want. They will shop it around and see if it is possible.

Good luck hope this helps

 

Do you guys think Agreed Value or Stated Value is the way to go?

https://www.hagerty.com/articles-vid...value-coverage

 

Over here in the rust belt, you flat out can't find a toyota in "very good" shape like KBB lists their highest price on. Over here most of the trucks would be valued $2k or less for older trucks (pre tacoma). In the used market they are pretty common to see $800-1500. I paid $1500 for my tacoma, checked the frame out well and everything and in 2 years still had the dreaded frame rot problem. I jumped ship to the T100 that had kind of major problems (electrical and ecu) and is pretty rusty, but couldn't pass it up for $500 with new winter tires. If you go for around 2002 or newer tacoma, the prices jump to around $5-15k. I just saw a Tundra listed for $12.5k and was a 2001 in nice shape.

 

The age of a vehicle is rarely the case when it comes to devaluation. Most of the time it comes from the mileage on the insured vehicle. I have totalled a two year old truck before that had 300k miles on it and without gap coverage my insurance company wrote me a check for $550 even though it was a company vehicle and covered under a commercial policy. In Floriduh, they have a box on a vehicle title that states "exempt" which means the vehicle has exceeded its mechanical limits. This is the value killer for our trucks. Better off to be self insured (have a spare parts truck) and just worry about the insurance taking care of personal injury to yourself, others, and property. I'm not an insurance adjuster, but I did stay at a Holiday Inn Express last night. Tony

 

Yeah here in CA there are a LOT of old 'Yota trucks and 4runners around. And you'd be super lucky to find one that runs for under 2k, because we have no rust. A 3rd gen is $5k and up easy.

But heck my 92 4Runner has 298k miles on it and the frame and body are good as new, aside from dings and such.

 

The problem with classic insurance is they really limit how much you can drive and how you can use your vehicle. And, to me, that just means they will most certainly find a clause in your policy to not pay. Although here in AZ it is sometimes the best case scenario, since classic insurance can allow you to get by without a smog check in areas that otherwise require it. For those interested, Classic Collectors insurance out of GA will insure a 4x4, I just recently had coverage on a 72 Scout II.

However, on my new-to-me 83, I went with standard insurance.

For the cost of insurance these days, it doesn't really pay (IMO) to get comp/collision on a truck that is worth (arguably) $10k or less. Figure you're going to spend $500-1000/yr on full coverage, and honestly, why do that? You could set that money aside for yourself (like savings) and if after a few years you don't have a need for it - bonus to you! Otherwise you're just giving it to the insurance company.

Like flg8r22 mentioned, you'd be better off spending that money in covering yourself and against others (with higher limits, underinsured, uninsured).

At the end of the day, sentimental or not, a vehicle is just a thing. It can be replaced. It's value is rather fleeting when you consider our time here on earth.... Your health, medical finances and potential long-term financial issues resulting from an accident (at fault or not) are worth much more.

I am not an insurance agent... in fact I kinda hate the whole thing. But it's the world we live in.

Cheers!

 

One of my biggest concerns, especially when I lived in a rich area, is since a lot of us are driving old rigs and haven't rebuilt the whole truck. Might still have original break lines or original steering components etc. is one of them failing and then getting in a wreck with say a $125,000.00 MB or something like that. I made sure my insurance would cover up to $200,000 of damage to others property. Seems silly to some but I was up in the Issaquah Sammamish area the other day and saw a 2016 Bentley, a 360 Ferrari, Audi R8, and a few high end MB's rolling around. If I hit one of those with out that coverage I would be SOL. Their insurance company could come after me for the difference they had to pay out for the under insured coverage. I would rather pay a few more $$ to make sure my way of life is protected.

 

I'm with you on this! I also carry 200k+ insurance only because I live in "sue happy" California. If I bump into a Bentley with my 27 year old truck I don't need to worry much.

 

Interesting. I live in NE Ohio, where there's no highly valuable vehicles on the road. The nicest ones are new Silverados (some days it seems like they're the only thing I see, lol) and nothing I could do to one of those would run $35,000+ in damages.

Just one more thing that makes it cheaper to live here! I don't love it, but I'm slowly acclimating...