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  • Writer's pictureTanner Coulter

Do you insure your classic truck for 100% of its value?

Do you one a classic truck that needs to be insured? There is specialized coverage just for you! You will be insured for the appreciation in value while maintaining premiums up to 50% lower due to the limited use. There are two types of coverage for your truck, antique & classic.


These vehicles have to be at least 25 years old or licensed as an antique.


If a truck does not qualify as an antique, is at least 10 years old, and is restored to at least 50% or is currently being restored then it can qualify as a classic truck for insurance purposes.

Guaranteed or Agreed Value

Both classifications have the same methods for determining the amount of insurance on the truck. The first and ideal method is by “agreed” or “guaranteed” value. This means that your truck will be insured for 100% of its true value in the event of a loss. For example, if you have a 1956 Ford F-100 like the truck pictured above, valued at $30,000, and you have a total loss; then the insurance company will write you a check for the full $30,000 for you to replace that truck with the same like kind and quality. We understand that if you have a truck that is special to you and your family there is no replacing it but having the money to purchase one similar definitely helps soften the blow. We work with the insurance carrier to determine the guaranteed value for you, sometimes this requires an appraisal at the insured's expense.

Stated Value

The second method of valuing the truck is by a stated value. With this method, losses will be settled on the actual cash value of the classic truck in the classic auto market at the time of loss, subject to a maximum payment of the stated amount. This method does not guarantee the value at any point, that can fluctuate with the market value.

Reach out to your agent to determine if they offer classic truck coverage. It is incredibly affordable and gives you peace of mind when you take your truck out on that weekend cruise or local car show.


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