racingjason
Newbie
Posts: 4
Registered: 3-25-2010
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Insurance for older vehicles
Hello, has anyone come across a (reputable) company that offers collision/comprehensive insurance for vehicles over 20 years? My truck is an '89 but
is in good condition so I would like to insure for its true value.
Cheers,
Jason
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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Welcome to BajaNomad, Jason. Look up to the top of the page....Bajabound Insurance. Get ahold of Geoff and ask him. He'll have all your answers.
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
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The problem with vehicle of such an age is that once you add up the premiums you would pay, assuming someone will write the coverage, and apply the
policy deductible, it can be a wash between that and the loss value of the vehicle.
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Alan
Super Nomad
Posts: 1628
Registered: 4-6-2005
Location: Yucaipa, CA/La Paz
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My thoughts exactly. You would be better off just putting those premiums in a bank each month so once you have that value banked your premiums
essentially stop. ...unless you are planning to go out and smash into something.
In Memory of E-57
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BajaGeoff
Super Nomad
Posts: 1727
Registered: 1-11-2006
Location: San Diego and Campo Lopez
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Mood: Heading To Baja!!!
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Hello Jason,
Most of the Mexican insurance underwriters only offer full coverage (comp/collision) on vehicles that are 15 years old or newer, and define the
insurable value based upon Kelley Blue Book or Nada Guide...basically what you could sell the vehicle for right now.
What are you driving?
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racingjason
Newbie
Posts: 4
Registered: 3-25-2010
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Hi Geoff,
The truck is an 1989 Toyota LandCruiser HJ61. It is kind of an odd truck that is very similar to the US Landcruisers (I am from Canada) but has some
more options (diesel etc). I tow a 2002 Conqueror Compact expedition trailer. Selling/buying price on the truck right now would be about $15K and the
trailer would be about $12K. I bought both units within the last 6 months and have insured them at home for those values so the numbers are fairly
current.
Cheers,
Jason
[Edited on 2010-3-26 by racingjason]
[Edited on 2010-3-26 by racingjason]
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BajaGeoff
Super Nomad
Posts: 1727
Registered: 1-11-2006
Location: San Diego and Campo Lopez
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Mood: Heading To Baja!!!
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Cool truck!
I found a similar one on Craigslist going for $22,500, so this particular model is definitely worth more in the market than what is reflected on
Kelley Blue Book.
Let me contact one of our underwriters and see if they will give us permission to offer full coverage.
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woody with a view
PITA Nomad
Posts: 15940
Registered: 11-8-2004
Location: Looking at the Coronado Islands
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Mood: Everchangin'
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they have palm trees in Canada?????
 what's next? fishing bats?
[Edited on 3-27-2010 by woody in ob]
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