by gowent » Mon Apr 27, 2015 08:57 pm
I am trying to find out what I can do and what insurance if there is any to cover my situation. Sorry for the long post however I am trying to be detailed as possible for you to understand my situation.
I have (2) Jeep Grand Cherokee's they are 2000 Jeep Grand Cherokee's Laredo 4.0 . I purposely purchased these due to the motor and transmission are great and were only made production between 2000-2004.
The situation is every time I call an insurance company on the phone and mention the year of the vehicle, they think it is an older vehicle and always question me about why I want put full coverage insurance on such an old vehicle.
At the same time I do not think full coverage will even begin to cover me in the event someone hits me.
Here is the reason; I built these jeeps from the ground up with high performance every-things, Motor, transmission, headers, exhaust system and every part pretty much replaced with high performance parts. The exhaust system alone ran me over 3,000.00, the motor 3, 400.00 and the transmission, 3,100.00.
The point is which I should not have to explain on the phone with insurance companies (they think I am crazy) I 'purposely' purchased these vehicles for low cost and with all the money I have wrapped in them the bottom line is these vehicles are better and lower cost than going out and buying a brand new vehicle because of all the performance parts.
Basically for 14k total invested for each one of these Jeeps they are practically brand new vehicles for 50% less than a brand new Jeep that starts at 30K and the 30K Jeep has all ordinary oem parts and once it hits between 70 to 100k miles all those parts will need to be replaced anyways. 80% of the parts on my vehicles are lifetime warrantied, the motor and transmission came with a 7 year, 200k warranty because of performance.
The point to all this is, if someone hit me and I have full coverage it does not matter every insurance company I spoke to stated they would not ever fix the damage even if it was a minimal amount of damage because the vehicle year is so old they would automatically total it out and with full coverage they would only give me what the blue book is worth and that is not that much.
I hope I never get in an accident however is there any type of insurance out there to protect me?
I have never been in a accident/wreck in my entire life (thank god) in the event that I would ever get in a wreck it would be catastrophic because of my situation.
I am trying to figure out a way if possible to be able to protect myself and insurance companies do not even offer advice or know of a way.
I know there has to be a way I mean look at classic cars they are able to insure them for X amount of dollars. Thanks in advance.
I have (2) Jeep Grand Cherokee's they are 2000 Jeep Grand Cherokee's Laredo 4.0 . I purposely purchased these due to the motor and transmission are great and were only made production between 2000-2004.
The situation is every time I call an insurance company on the phone and mention the year of the vehicle, they think it is an older vehicle and always question me about why I want put full coverage insurance on such an old vehicle.
At the same time I do not think full coverage will even begin to cover me in the event someone hits me.
Here is the reason; I built these jeeps from the ground up with high performance every-things, Motor, transmission, headers, exhaust system and every part pretty much replaced with high performance parts. The exhaust system alone ran me over 3,000.00, the motor 3, 400.00 and the transmission, 3,100.00.
The point is which I should not have to explain on the phone with insurance companies (they think I am crazy) I 'purposely' purchased these vehicles for low cost and with all the money I have wrapped in them the bottom line is these vehicles are better and lower cost than going out and buying a brand new vehicle because of all the performance parts.
Basically for 14k total invested for each one of these Jeeps they are practically brand new vehicles for 50% less than a brand new Jeep that starts at 30K and the 30K Jeep has all ordinary oem parts and once it hits between 70 to 100k miles all those parts will need to be replaced anyways. 80% of the parts on my vehicles are lifetime warrantied, the motor and transmission came with a 7 year, 200k warranty because of performance.
The point to all this is, if someone hit me and I have full coverage it does not matter every insurance company I spoke to stated they would not ever fix the damage even if it was a minimal amount of damage because the vehicle year is so old they would automatically total it out and with full coverage they would only give me what the blue book is worth and that is not that much.
I hope I never get in an accident however is there any type of insurance out there to protect me?
I have never been in a accident/wreck in my entire life (thank god) in the event that I would ever get in a wreck it would be catastrophic because of my situation.
I am trying to figure out a way if possible to be able to protect myself and insurance companies do not even offer advice or know of a way.
I know there has to be a way I mean look at classic cars they are able to insure them for X amount of dollars. Thanks in advance.
Posted: Tue Apr 28, 2015 01:06 am Post Subject:
You don't think the insurance agent should question you adding 1st party coverage but would it be better that they just said yes, took your money and then when you had an accident simply told you then that you were not getting the $30k value of the Jeep?
You can obtain a specified value policy and you name the value of the vehicle. However, they are going to be very expensive and hard to find. You need to find a local agent that knows what they are doing.
Posted: Tue Apr 28, 2015 01:20 am Post Subject:
You need what's called an "agreed value" policy. As tcope said, it won't be inexpensive. But there are companies that specialize in this, such as Grundy http://www.grundy.com/ and Hagerty https://www.hagerty.com/Insurance/Classic-Car-Insurance
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