The Stovebolt Site Forums The Parking Lot Big Bolts Commercial Insurance for old trucks??

Hi all. I'm planning on fixing up my 47 1.5 ton truck to use to do some commercial custom hauling. I'm going to be putting a rebuilt 6bt Cummins diesel in it, with new axles, power disc brakes all around, power steering, flatbed with gooseneck and class V tag-along hitch, etc...

But, the kicker is, getting an insurance company that will cover such an "old" truck for commercial use..... Even if said truck has been updated to new driveline components, safety equipment, etc.....

It's a ways off before I have to worry about it as I haven't even started work on my truck, but would be nice to be able to have sorted out ahead of time...

My trucks are used for business and I use Progressive partly because I have dump trucks and Progressive has dump truck specific insurance I pay just over $800 every 6 months for two trucks and a 12 ton equipment trailer. They have never said a word about the age of the trucks other than to ask the year when they wrote the policy

I'm curious to see what you find.
I don't plan to use my truck commercially (yet), but we will have similar trucks, looks old, but modern under the skin.

My concern is having it insured for however I want to use it. just like a new truck, with no limits on miles, use, or anything else for that matter.
Also important to me is having it insured for something close to the replacement value.
That may be the problem, as replacement value for a 48 2 ton even restored is not that much. But replacing a truck that I have spent countless hours, over several years, designing, finding parts, fabricating, assembling, and building; that might be difficult.
Just to total the receipts for the parts and services I have invested in the truck is not a true representation of it's value to me. I also value the time it has taken to build it (lots and lots of time), and the deals I have found no many of the pieces and components. Say the truck is totaled, to go out and buy all the necessary parts and components on short notice would cost a bunch more than it cost me the first time. Then to pay a professional shop, to build a new one in a reasonable amount of time, to the same standards I built it the first time, that makes the truck a lot more expensive than most anyone can imagine.

I suppose there is still a lot of risk driving such a vehicle even if it is insured, and to enjoy the use of the vehicle it's a risk I'll have to take. But if something were to happen to it I don't want to be without a truck, or have to spend all my money, time, and effort to recreate it.
In the end, if there is a way to insure such a vehicle, I doubt it will be cheap, but probably less expensive than starting from scratch on a rebuild?

Grigg

I think I would ask Hot Rod owners what they do for ins. They seem to be in the situation with all that muscle and new tech stuff under the skin of an old body,plus the high dollar paint job most have on them.
I would think they have found a way to insure them for the actual value of the machine.
Stated value ins. is not the real question, but how much is the premium.
I just hope its not like trying to buy flood ins. and live in Iowa.
Dan

To save some $ you might think about insuring for half a year. States have different rule and regs., but check out registering/insuring as a "farm" vehicle.

For "farm" use in Wisconsin, it must be FARM ONLY use... I.E: If you're caught driving it to church or the store for Mountain Dew, they can and WILL write you a large fine.....

Hmm.. I'll talk to my ins agent. I know there is plenty of ins available for trucks like mine if I just want to have it to drive around... But when you slap those DOT numbers on the side and start doing for-hire work, what happens then?

Matt,

I'd look into being able to number 1 get a DOT inspection on your truck. Then I'd work on getting some operating authority from the DOT. If you can get both of these handled at a cost that you can live with you'll find the insurance issues will be a piece of cake. If you got to the Wisconsin Dept of Transportation website you will find a link that explains it all in detail. I have a trucking company, and have all the DOT stuff, authority, insurance ect and still have my Old cars and trucks insured personally. If you have any other questions let me know, I'd be glad to pass on any information that I can.

Don

I finally got insurance on my 2 ton grain truck through JC Taylor. It only has 16,000 miles and would be capable of hauling grain to the harvest. I finally convinced them to insure it because I have a total of 30 trailers and am in the business. My argument was that it is not unusual for someone in the trucking business to collect old trucks, and that even though the truck is capable, it would not be economically feasable to use a 55 year old truck. I have liability only on my over the road trucks and some of my shippers require $2,000,000 liability. This is around $4,000 per power unit. Texas allows for farm truck registration, but they are enforcing the rules more all the time. Larger trucks are difficult to insure. That's just all that is to it.

the lowest i could get for my 51-6100 was $500. my insurance agent said he had to really look around to find a policy for me. he also said should anybody question me that im a landscaper. he also said insurance companies dont want to insure a 50+yr old truck for commercial service in todays world.

yah, they get all worried.... what they don't know is that they're built better than anything today and cost less to repair!

Now, in some states, if you do "major reconstruction" you can get a new VIN number and the truck will become a "2008" or whatever year you get it registered in truck. So you could have a 47 Big bolt and if you go to the Wisconsin DMV and ask for a reconstructed title, it would be a 2008 Chevrolet Advance-Design... Then your insurance company wouldn't have a choice but insure you.... And you could drive for FEMA with it too!

BUT, it will ruin the truck as an antique or classic if you should ever want to sell it as such.... But then, if I go to the work to make it a modern hauling truck, I don't intend to sell it ANY time soon....

My challenge was finding ONE company that would insure all of my vehicles AND the dump. None of them would give me general insurance for such a big beast, but typicaly they outsourced the coverage for odd vehicles, comercial, & motorcycles. Lucked out tho, Farmers covered everything I own for less that what a couple companies quoted me for just the dump truck. Was so good I told USAA to go pee up a rope even tho I'd been with them for 14 years and fell under the old officer rates.
Best suggestion, shop around, and be sure to ask if you local laws require insurance by usage &/or weight or not, dont give them buggers any reason not to cover you if the worst comes to pass.

Someone mentioned what the rodders do as they are basically in the same boat; a custom vehicle. Everyone I know who has rods/or restored classics has an agreed to amount of insurance. If it's 30K and it burns up thats what they pay you even if it was a 12K truck or a 50K unit. You simply buy what you want and what you can pay for. I doubt it is different for seldom used trucks and you could always purchase a large liability umbrella policy for the rest of the requirements. Medical isn't generally a requirement in most states.

Just bought commercial insurance with State Farm for my '66 LCF-60 grain truck. No problemo $56 per year.

Very cool......... I'm gonna keep all this in mind when the time comes... Right now finding cheap P30/3500HD axles and wheels for under it is the biggest challenge!