Insurance?

[T. Stanley]

Hey Guys,

Do any of you guys have coverage on your rigs in case of theft, accidents, etc? I spoke to my agent today to verify how coverage on add on’s and accessories would work if something ever happened. I would have thought that anything “attached” to your vehicle would be covered on my full coverage policy. WRONG
the way he explained it to me, my full coverage policy covers anything that is on my vehicle as it comes from the factory. Anything you add on is considered customizing and there should be an add on to your insurance policy to cover any customization you do based on the dollar value of the customization. My next question was, “am I covered for the gear stored in tool boxes, totes, or various other cases, drawers or bins. He said that any gear or items in my vehicle would be covered based on my home owners policy, that personal property is covered no matter where it is, it could be in Russia and if it was damaged or stolen, I would get reimbursed for the loss up to the value set in my policy which in my case is $5000. So if I have more than $5000 worth of gear in my truck and it gets stolen, I only get reimbursed for$5000. He added that the best way to assure proper coverage and proof of what I carry is by photo/video documentation showing the items, where they are stored and any part number/serial number that is on the item. Time to get out the cameras and the calculator!

 

[Danger Ray]

Sounds about right. I’ve got the same $5k theft insurance and full coverage. That’s a good idea to document everything and also keep receipts.

 

[T. Stanley]

Sounds about right. I’ve got the same $5k theft insurance and full coverage. That’s a good idea to document everything and also keep receipts.

Yes he did tell me to make sure I keep my receipts.

 

[Smokinjoe]

Sounds like you got cheezie insurance co .... check with AAA, state farm and Geico they cover upgrades and some will add extra writer to cover upgrades at extra cost ... in the end you get what you pay for, most insurance CO's will only cover blue book value and up to 2K- 5K of upgrades but you get a cheep premium. If you only have about 1-2K of upgrades keep your insurance if you have 15-20K or more into your rig ask your agent questions or look for a new insurance co that will cover but always at a cost... you just have to weight if you can afford the loss.

 

[M Rose]

Sounds like you got cheezie insurance co .... check with AAA, state farm and Geico they cover upgrades and some will add extra writer to cover upgrades at extra cost ... in the end you get what you pay for, most insurance CO's will only cover blue book value and up to 2K- 5K of upgrades but you get a cheep premium. If you only have about 1-2K of upgrades keep your insurance if you have 15-20K or more into your rig ask your agent questions or look for a new insurance co that will cover but always at a cost... you just have to weight if you can afford the loss.

Geico does not cover upgrades over $5,000 without redoing the policy and lots of documentation.... and upgrades are bolt on modifications, gear in the vehicle is a whole mother thing and like the OP stated Geico makes you get them covered under home owners insurance. And just like the OP stated, they want picture a minimum of 6 months old at the time of loss, receipts, make model and serial numbers, exactly where in the vehicle the gear was stored, and the list goes on... I know this because I’m currently dealing with Geico Over the theft of my recovery gear and tools I keep in my Bronco, totaling over $25,000.

 

[ThundahBeagle]

Hey Guys,

Do any of you guys have coverage on your rigs in case of theft, accidents, etc? I spoke to my agent today to verify how coverage on add on’s and accessories would work if something ever happened. I would have thought that anything “attached” to your vehicle would be covered on my full coverage policy. WRONG
the way he explained it to me, my full coverage policy covers anything that is on my vehicle as it comes from the factory. Anything you add on is considered customizing and there should be an add on to your insurance policy to cover any customization you do based on the dollar value of the customization. My next question was, “am I covered for the gear stored in tool boxes, totes, or various other cases, drawers or bins. He said that any gear or items in my vehicle would be covered based on my home owners policy, that personal property is covered no matter where it is, it could be in Russia and if it was damaged or stolen, I would get reimbursed for the loss up to the value set in my policy which in my case is $5000. So if I have more than $5000 worth of gear in my truck and it gets stolen, I only get reimbursed for$5000. He added that the best way to assure proper coverage and proof of what I carry is by photo/video documentation showing the items, where they are stored and any part number/serial number that is on the item. Time to get out the cameras and the calculator!

Yes, sir this sounds about right. Renter's or homeowner's insurance for gear and tools. Photo and receipt documentation on bolt-on upgrades to the vehicle itself.

Totally normal, totally advisable.

Example: a hidden winch affixed in a bumper mount, you should document that to your vehicle insurance company. 200 pounds of Craftsman tools, sockets, ratchets, etc...homeowner's insurance policy.

Matt's offroad recovery would probably have to cover his winch with homeowner's, since it is stored in the back of the banana XJ, and put in place front or rear as needed

 

[ThundahBeagle]

Good thread. I should update my insurance since I just got my truck back from the body shop

 

[M Rose]

Yes, sir this sounds about right. Renter's or homeowner's insurance for gear and tools. Photo and receipt documentation on bolt-on upgrades to the vehicle itself.

Totally normal, totally advisable.

Example: a hidden winch affixed in a bumper mount, you should document that to your vehicle insurance company. 200 pounds of Craftsman tools, sockets, ratchets, etc...homeowner's insurance policy.

Matt's offroad recovery would probably have to cover his winch with homeowner's, since it is stored in the back of the banana XJ, and put in place front or rear as needed

Actually Matt is under a different kind of insurance policy... It’s more than likely covered by his business policy... which is where my tools were supposed to be covered but since I moved them from my Recovery Rig to the Bronco, they no longer fell into the business policy.

 

[ThundahBeagle]

Actually Matt is under a different kind of insurance policy... It’s more than likely covered by his business policy... which is where my tools were supposed to be covered but since I moved them from my Recovery Rig to the Bronco, they no longer fell into the business policy.

Ah, good point

 

[WrightRunner]

Around a year ago a thread like this was going around. So I checked with my insurance co. I ha WA WA NISA. They have been a good co for me. They have the best rates around that I have found nobody can touch them. They only insure low risk people! So I checked with them about my 4runner with about $30k in upgrades and my insurance was going to double in price!

 

[USStrongman]

Geico does not cover upgrades over $5,000 without redoing the policy and lots of documentation.... and upgrades are bolt on modifications, gear in the vehicle is a whole mother thing and like the OP stated Geico makes you get them covered under home owners insurance. And just like the OP stated, they want picture a minimum of 6 months old at the time of loss, receipts, make model and serial numbers, exactly where in the vehicle the gear was stored, and the list goes on... I know this because I’m currently dealing with Geico Over the theft of my recovery gear and tools I keep in my Bronco, totaling over $25,000.

Its dependent on state. I have a $10k rider on my policy and update yearly an itemized list and pictures. I plan on dropping my rider to %4k once my overland trailer is done. the way my trailer policy will work is that I can add a lot of "stuff" that is on my rig, and declare it on my trailer. Texas is uber liberal about ttrailer policies, but uptight about auto... outside of unrecovered theft.

 

[M Rose]

Its dependent on state. I have a $10k rider on my policy and update yearly an itemized list and pictures. I plan on dropping my rider to %4k once my overland trailer is done. the way my trailer policy will work is that I can add a lot of "stuff" that is on my rig, and declare it on my trailer. Texas is uber liberal about ttrailer policies, but uptight about auto... outside of unrecovered theft.

You said exactly the same thing I said...