I am in the process of buying my first truck a 1985 FLC Freightliner to do logging with. My question is this: I am going to carry physcial damage on the Truck just in case something happens and it gets wrecked, either by me, or hit by someone else.

The insurance company is asking me to give them a dollar amount of how much I want on it. They told me that they would only pay what the Truck is valued at, not how much I have on it ???

That doesn't make sense to me, but anyway, how can I find out what this Truck is actually worth

 

http://www.trucks.com/services_blackbook.asp

$4 per valuation.

 

just value it at 10 grand, even if they value it at a few thousand less your only paying a couple extra bucks a year for the coverage.

 

I went to the blackbook for Big Trucks, but it only covers 10 years and newer?

 

Practically nothing! I'm with Brian, on this one! :wink:

 

Not knowing the condition or how it is equipped, it would probably be worth in real dollars around $7-8M. I think you would be safe with $10M on the insurance. Truck insurance is rather peculiar. You can insure it for whatever you want, but they will only pay market value for it if you have a claim. Premium should run about 3-4% of the stated value. :?

 

I would really hate to pay the premium on a 10 million dollar truck. :wink:

 

You are rich, Rev. You can afford it. :wink:

 

Thanks everyone, I appreciate the info, and will put Ten Thousand on the Truck. I appreciate it very much.

 

I have always wondered why G-Man always writes M after dollar amounts instead of G. You know.... $10G meaning $10 grand. Fill me in if it means something else. :nervous: