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Old 06-07-2021, 08:01 AM #16
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There are two types of liability insurance - bodily injury liability coverage and property damage liability coverage - and most states require you to have both. This coverage pays for damage you cause to vehicles or other property when youíre at fault for an accident. For example, it could pay to repair the other driverís car or to replace a fence you crashed into. Your insurer wonít usually pay for the whole of your claim - you have to pay a set amount yourself, called the Ďexcessí. Itís the same no matter how big your claim is.
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Old 07-07-2021, 10:02 AM #17
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USAA ~ and yes, you can use them. The whole "military" thing is just marketing, by law they can't exclude based on that. As usual, YMMV... we have about 10 different insurance policies with them, IRAs, 401K's etc... plus, my wife and I are in the top tier of credit, have lived in the same place with the same jobs for a long time (strange thing to be important, but it's considered "stability" and weighs a good bit), etc...

Insurance is there to protect your current and Future assets. Doesn't take much to run out of insurance coverage if you cause 1 vehicle to have an incident where 4 people are in a hospital for 3 days. Takes even less for a lawyer/judge to find you at fault. If you have any thoughts about Retiring, owning a home outright, having money in the bank... at Some point in your life, that's what insurance is there to protect because a judge can saddle you with wage garnishment. If you like the idea of the "American Dream" , you may want to look into a liability umbrella policy, I think ours runs about $100/year for each $1m in coverage (coverage based on salary till retirement, social security value, home valve, investments, etc... not what you have today, unless you Really want to liquidate and go through bankruptcy). Basically, what Can't you afford to lose? A few hundred bucks a year is cheap peace of mind.

Also, it's Very uncommon for insurance companies to try and weasel out of things. There's a state insurance commissioner in every state who is Your advocate and has the authority to refuse an insurance company from doing business in that state. One settlement is nothing against the loss of doing business in a state.
Yeah if you have any kind of assets you should look in to an umbrella policy. And term life insurance until your youngest kid will be 22.

Most accidents can be avoided with defensive driving. Always expect the worst and always leave yourself an out. And prioritize LBJs, brakes, etc before mods.
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Old 07-07-2021, 12:16 PM #18
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Insurance is still a confusing mess. My wife recently switched from AAA to Travelers (mainly because we gave her old car to our teenage (19) daughter and it was a much 'better' deal). She asked the agent a lot of questions about my rig and what would happen in the case of a total loss (still somewhat unclear, but they said provide receipts for mods) and one of the things she learned was that insurers do not like to insure 'lifted' vehicles.
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Old 07-07-2021, 12:46 PM #19
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I got mine ironed out with my agent last month, and my truck is now covered for the full replacement value with the mods. The difference in annual cost going from liability to full coverage at full value was insignificant compared to what I would have lost having it covered inadequately.

It did take some doing, my agent wanted pictures and an appraisal, given my requested coverage amount, but once I said it was my camping vehicle she completely understood and went out of her way to help me.

This was one of the best "peace of mind mods" I've done to the truck, for sure.
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Old 07-07-2021, 01:04 PM #20
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...one of the things she learned was that insurers do not like to insure 'lifted' vehicles.
That's been true for at least 40 years... and if you have one of those insurance companies, have an accident (your fault or not), expect to have the claim denied once the adjuster gets sight of the lifted vehicle. Might leave you in a heck of a pickle if you're found at-fault and someone's seriously injured (or simply sicks a lawyer on you).

My dad sold Farmers ins for ~45 years and they flat out would not insure a lifted vehicle... sorry, Not "wouldn't", "Couldn't" as company policy. Came as a shock to many a young man working the oil patches of Wyoming after blowing a few months of their pay going for the "Bigfoot" look to find out they couldn't legally drive it to work. I heard about it over the dinner table a few times a year...
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Old 07-07-2021, 01:12 PM #21
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My T4R is 'experiencing homelessness' and sleeps on the streets. I can envision a 3AM stolen car/hit and run taking it out - I can't think of a way to defend against that other than insurance. I'm not moving out of the warzone for a few more years....
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Old 07-07-2021, 03:29 PM #22
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I got mine ironed out with my agent last month, and my truck is now covered for the full replacement value with the mods. The difference in annual cost going from liability to full coverage at full value was insignificant compared to what I would have lost having it covered inadequately.

It did take some doing, my agent wanted pictures and an appraisal, given my requested coverage amount, but once I said it was my camping vehicle she completely understood and went out of her way to help me.

This was one of the best "peace of mind mods" I've done to the truck, for sure.
How did you go about getting an appraisal? A built 4runner is a kind of niche item to appraise.
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Old 07-07-2021, 03:35 PM #23
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How did you go about getting an appraisal? A built 4runner is a kind of niche item to appraise.
Yeah, that's a really good point, and I was scratching my head about that for a while. My buddy is the GM at a high end used dealership and filled out a trade-in appraisal for me. It wasn't any more official than that.
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Old 10-19-2021, 02:14 PM #24
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Indeed, why not to have them both?
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Old 10-19-2021, 06:56 PM #25
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I second double-insurance. I think its wise to have your money in various baskets rather than just insurance. I donít see why you canít set aside a certain amount of money for good insurance youíre comfortable paying, alongside maybe a broker or however you feel comfortable investing that second half, even if it means just putting some in a dedicated savings account that builds interest, or learning to invest by yourself, or even have another 4R as a backup for spare parts or as a second ride, the point being its good to have your eggs in multiple baskets. It canít certainly hurt.
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Old 11-14-2021, 01:43 AM #26
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Quote:
Originally Posted by Endlessblockades View Post
My T4R is 'experiencing homelessness' and sleeps on the streets. I can envision a 3AM stolen car/hit and run taking it out - I can't think of a way to defend against that other than insurance. I'm not moving out of the warzone for a few more years....
Super important to note that some insurance companies (GEICO in my experience), even with full coverage, will not cover hit and runs for a parked car. You have to buy this coverage separately.
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