Insurance questions
I've been shopping for a new van, and have run into a problem.
Out west, even if you plug in the zip code, Blue Book values for used vans are about 33-50% of what people actually pay. But insurance only values the trucks at Blue Book.
This is bad enough with my current van, which has only reversible mods to the interior (and some $$ suspension work). It would sell used for about the money I have in it, but KBB value is less than half that.
My plan for a new rig, though, involves more extensive upgrades. I will spend a total of about 4x KBB. I could sell it for what I will pay, and quickly, but I do not like to be so underinsured.
For classic cars, etc., my insurance company can 'insure to value' at a custom, non-KBB value. But -- and here's the catch -- not if it is a daily driver. Only for a second or third car.
Have any of you looked into this? Found a solution?
Out west, even if you plug in the zip code, Blue Book values for used vans are about 33-50% of what people actually pay. But insurance only values the trucks at Blue Book.
This is bad enough with my current van, which has only reversible mods to the interior (and some $$ suspension work). It would sell used for about the money I have in it, but KBB value is less than half that.
My plan for a new rig, though, involves more extensive upgrades. I will spend a total of about 4x KBB. I could sell it for what I will pay, and quickly, but I do not like to be so underinsured.
For classic cars, etc., my insurance company can 'insure to value' at a custom, non-KBB value. But -- and here's the catch -- not if it is a daily driver. Only for a second or third car.
Have any of you looked into this? Found a solution?
