There is a good chance that your classic truck means a lot to you. Maybe you’ve spent a long time restoring it or repairing it. Maybe it was passed down through the generations. Whatever the case is, you want to get your truck covered by an insurance policy. This is why specialty truck insurance is so important and vital to any truck driver. This is especially the case if you have a classic truck – because there is often more at stake than monetary value. Here are five things to consider when insuring a classic truck.
- Decide how much coverage you want to get. You can go the basic route and get simple accident coverage – this will protect you from coming out of pocket in the instance of a lawsuit. Another option is to get more comprehensive coverage that covers the other driver’s liability claim and repairs the damage to your truck. If you have a particularly older model truck, you may want to get a more comprehensive plan.
- Is your truck used for commercial applications or leisure? This is an important factor to consider, because you will usually need a completely different type of insurance if you choose one or the other. If you are using your truck for work, you want to get commercial insurance, because this will also protect the payload or whatever the items you may be hauling. If you are using your truck for the sake of getting around town on the weekend, you may want a simpler plan that offers basic coverage.
- Find the total value of your classic truck. There may be a market value for your truck, but the auction value may be much higher. If you want to get a coverage policy that will coverage the total damages, appraising the total value is important. So, you may want to get a professional appraiser to have a look at your vehicle. Depending on how it has been restored, your truck may be worth way more than you think.
- Do you have good credit? Your credit score may factor in to the cost of your total classic truck insurance policy. So, if you have poor credit, you can expect to be paying more for your coverage plan. However, you want to check your credit before you get a quote because there may be an error. If there is, you want to remedy the situation right away, because you don’t want to end up paying more your policy when you don’t have to be. There are a number of ways to clean up your credit, but it starts will having a bird’s-eye view of your score and report.
- Purchase your policy from a truck insurance company. When you are trying to find coverage for your classic truck, you don’t want to go to just any insurance company. For instance, the Great West Casualty Company has some great rates for people who need truck insurance. In the end, you can usually work with an insurance agent to customize your plan, but you want to make sure that the company has a deeper understanding and appreciation for truckers than a standard car insurance company.