The Stovebolt Site Forums The Shop Area General Truck Talk What's My Truck Worth?

I’m nearing the completion of the restoration of my ’53 3100. I have a few details to finish up over the winter and hope to have it on the road next spring. (By the way, thanks to everyone that’s helped me get it this far.)

I’ve got the truck insured with Hagerty. Hagerty let’s you state the value of the truck, charges you a premium based on this value and pays up to that amount if you ever have to make a claim.

Currently, the truck is insured for its value at the time of purchase. Now that it’s worth a lot more I want to up the amount, but how do you go about determining the value of your truck?

Do you go by the amount you spent for the restoration (which is more than I care to admit)? If you go by the price of other ’53 Chevrolet 1/2 ton’s how do you know what’s comparable? Of course if I have an accident I only need enough to cover the cost of the repair, but if my garage burns I could have a total loss.

Any suggestions? How have others come up with a value for their collector’s vehicle?

One thing I would tell you is to check with Grundy on your insurance. I use to have Hagerty and changed to Grundy because of pricing. Example, I had my 34 insured for $35,000 and it cost $560 a year. Now I'm with Grundy and the same coverage is $260 yearly. It is sightly more restrictive but fits my driving situation just fine.

My 53 is not a total restored truck, but I would value a truck like yours at between $18,000 and $25,000 in my part of the country. You can base the insurance cost on what I stated. You can apply for Grundy on line and it's easy.

Good luck.

As Ron says, shop around. A member of our club, an agent, found me a $20K agreed value policy for less than $200 a year. Most of the carriers have a sort of blue book they go by and won't insure above that value. I originally wanted $25K coverage but they would only go the $20K. Practically speaking the value of old vehicles should go up over time so have your insurer check this every year or two to keep up.

Old car price guide shows $11,700 in #3 condition. $18,200 #2. $26,000 In #1. I,ve got my Buick insured with Condon-Skelly trough my agent. It is valued at $12,000 & cost $140 year.