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Thread: Value of truck vs full coverage insurance

  1. #1

    Default Value of truck vs full coverage insurance

    With our trucks getting older and older and the book value dropping, is it worth it to get full coverage? I keep mine in good shape and am thinking of putting a little money in it (double din stereo with back up camera, paint job, etc). I currently carry only liability on it.

    What will the payout value be if it get's totaled or stolen?

    Thoughts?
    2000 Dakota, 5.9, 6lb Powerdyne, 13.33@106

  2. #2
    Osee's Avatar
    AutoZone Perfomance Parts

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    Last year I wrote off the blue turd to a hail damage claim (04 quad cab SLT 2wd 4.7) 187,000Km's had really bad rust that came through the paint after 1 1/2 year off owning it. Insurance costed me $1200 annually, Full coverage with $200 deductible and $5,000,000 thrid party liability, they paid me $7000 for that piece of junk.


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    read your policy. If you carry liability only, you may not be covered if it's stolen. You definitely won't be covered if YOU crash it. Liability only will pay money to the people that you cause damage to, if you are the cause of a crash.

    that said, if someone else hits you and totals your truck, you'll get book value, maybe 3500.
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    that is better than zero though. USAA has allowed me to do an agreed value policy on my R/T. I won't get rich, but I won't get destroyed if something happens to the R/T. Also, keep all your receipt. They can come in very handy when negotiating settlement price
    "the vast majority of the people on this website are such tight asses that they could probably squeeze out diamonds - but they'd never spend the money to buy the coal' - Steve F. 2012

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  5. #5

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    Thanks guys, I will call my agent today to discus. Sorry, my original post may have been a little misleading. I am aware of Liability coverages. My question on worth was with full coverage.

    Also to clarify you statement about if "someone else totals your truck, you will get book value"...that is if they have insurance, else if you have liability only, you get squat, unless you have uninsured, which I do.
    2000 Dakota, 5.9, 6lb Powerdyne, 13.33@106

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    Be sure and do agreed value vs stated value.

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    9t9-5.2's Avatar
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    Quote Originally Posted by TheOtherDodge View Post
    Thanks guys, I will call my agent today to discus. Sorry, my original post may have been a little misleading. I am aware of Liability coverages. My question on worth was with full coverage.

    Also to clarify you statement about if "someone else totals your truck, you will get book value"...that is if they have insurance, else if you have liability only, you get squat, unless you have uninsured, which I do.
    You may want to check that. Uninsured/underinsured typically only covers medical payments.

    "Excuse me if I have some place in my mind, where I go time to time"

  8. #8

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    The agreed value is the way to go, but some companies limit you on the mileage each year.

  9. #9

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    I spoke to my agent today. My uninsured covers medial and damages. Also found out that comprehensive, which will cover theft, vandalism, burglary is only 250/year more, so I will get that.
    2000 Dakota, 5.9, 6lb Powerdyne, 13.33@106

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