73-87chevytrucks.com
73-87 Chevy _ GMC Trucks => Crew Cabs => Topic started by: TimP on November 21, 2012, 09:33:17 pm
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Do any of you have a original window sticker or a msrp for a 78 camper special, dually crew, 2 tone, a/c, 454, cruise, all options except power windows? My insurance comp wants original as sold price for some reason, only 94,000 miles 0 rust, 1 small dent, original paint. On propane. runs better than any gas 454 dually i have owned (5). any help would be great.
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I do not have the answer, but do have a question. Do you have special insurance on your truck ?
Because if you don't and they want the the original msrp, I would be real careful.
Sounds like they want to charge you for classic insurance and if you ever need to collect on that insurance they will probably pay you going market rate which is just above scrap steel prices. Just saying you might want to investigate a little.
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Some policies use cost new to determine the rating factor for physical damage (comprehensive & collision). I really need to know what type of policy this truck is on ex. business auto,personal auto,collector etc.I am a licensed agent in my state and while policies differ from state to state some of the underwriting practices are the same. I can help you with the why they want it.....just not the cost new of your veh. sorry
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Some policies use cost new to determine the rating factor for physical damage (comprehensive & collision). I really need to know what type of policy this truck is on ex. business auto,personal auto,collector etc.I am a licensed agent in my state and while policies differ from state to state some of the underwriting practices are the same. I can help you with the why they want it.....just not the cost new of your veh. sorry
Pholliday, how can they " use cost new" on a 1978 truck compared to today's prices ? This is a serious question as I really would like to know ?
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aaaaww yes the insurance answer....generally having no common sense to it but here it goes, i'll try to keep it brief. There is a nationwide organization called ISO they are responsible for the assignment of a numbered symbol per each vehicle and sub models within that group. There are many factors which make up the symbol for private passenger auto policies, one of which is the cost new. When you go to a business auto policy "most companies" will use the cost new to determine the rating factors for physical damage. So in other words these companies rate your truck on cost new however when it gets wrecked they only pay you the actual cash value(market value) doesn't seem right does it? There are companies that only use market value to rate your vehicle for physical damge however there rating factors are different and when your done the price you pay for insurance ends up around the same with the two different companies. Kinda different way to do the same thing.Not to be confused with some collector policies which use stated value or agreed value.... which means you and the insurance company agree on the value at the start of the policy and if you have a total loss then the "agreed amout" is what you receive. and you wonder why people hate insurance LOL
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Thank you for the reply. And I gotta say, thought so.
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Yea ......Bake welcome to my world what a mess sometimes, the problem is people think insurance companies are in business to sell insurance. There not..... There in business to make money.i just wanna work on my truck😃