There are numerous insurance companies out there that specialize in street rods, hot rods, and modified classic cars & trucks, we all use them. They intentionally insure these vehicles with full knowledge that almost everything is modified. I have not heard of any issues getting settlements for accidents. Many are under insured but that's another issue.
Fred
Just a couple of points for clarification, Fred. First of all, your comment about under insured is a very good one. More people ought to think about that, shouldn't they? Not having adequate limits of liability at the time of a loss is a really bad situation for everybody involved.
All the companies people refer to as insurance companies are actually insurance agencies that place business with insurance companies (and those companies have created these specialty insurance programs). American Modern Home Insurance Company is probably the main writer of coverage on non-standard vehicles and I actually have both a personal knowledge of this company and a good deal of respect for them. Very professional group of people. They underwrite both standard risk and high risk situations and do it very well and professionally.
But all of those specialty policies contain some specific limitations---for good reasons. Now if you're driving your truck/vehicle as I do...meaning if I want to drive it as daily transportation, I do and I have no coverage limitation. If I want to drive it for the use it was designed, I do...meaning if I wanted to haul bags of concrete from Dallas to Seal Beach, I'm free to do so. My insurer might think it odd, but they wouldn't care nor would they limit my coverage. In fact, if I want to pretend it is 1952 and drive my truck all over the country exactly as I would have done back then, I can do it. But if I bought one of those little hot rod plans I couldn't do any of that. I don't buy physical damage coverage, Fred. For a vehicle this old and driven the way I do, it doesn't make sense. The cost would be hideously expensive. If it was a parade only truck or a trailer queen, that coverage would be really cheap, but my main concern is liability. If I hit somebody, I want to have as high of a liability limit as I can buy.
