Throapy

Hello all, new here. So, my question is does anyone know how to insure a rig (1998) which has a much higher actual value than kbb? My insurance co will only insure it for 1998 xj value, but actual is waay more. Thanks

wizardpc

Get a better insurance company

Throapy

Anything actually helpful? Like a company which does?

Turbo X_J

Certified by a licensed appraiser or just personal opinion?
You can try:
https://www.hagerty.com/
the worse they can say is "no".

Throapy

Thanks, they look to only offer ultra low mileage (600). My "opinion" is based off he purchase price and work done. It is a Davis auto sports jeep. ( I know, but I have neither the talent nor the tools to build).

Rambler65

You probably need to talk to an insurance agent about getting an "agreed value" policy.

https://www.lelandwest.com/stated-va...-insurance.cfm

Rogue4x4

Bottom line here is you got suckered.

You paid an exorbitant amount of money to someone for a restored/modded rig...of which there are millions on the road. You also paid for their work/upgrades...

YOU feel the value is way higher. Purchase price and work done does not determine value to an insurance company...unless it has a specific thing that makes it hold value, like first one off the line in showroom condition, you are screwed.

You NEVER get out of it what you put into it when modding...UNLESS it's rare, highly sought after, and/or impossible to find.

Sounds like you learned an expensive lesson.

Throapy

Hmm really? How so? I have no issue with the truck, quite the opposite actually. I'm just looking for info on insurers. Sounds like you might be one of those "build it" snobs. Good for you. Thanks for offering, well, nothing.

Basslicks

He's offering you sound advice. KBB values are held in high regard among the automotive industry. What you purchased was a vehicle that someone sold with no regard to KBB values. Maybe the modifications might add a few hundred to possibly a thousand based on KBB, but as far as the insurance institute for highway safety, KBB, NADA, trade-in values, and insurance companies in general are concerned, your jeep has no "awesome mods".... your Jeep is a stock vehicle with some aftermarket parts added to it. There are no KBB values for aftermarket parts.

Aftermarket parts hold no value in retail world once they've been added to a vehicle. Go take that Jeep to a dealership and see what they'll offer you on trade-in... I'd be surprised if it was more than 200 over a stock jeep with the same mileage and in the same condition. THAT's the value that insurance companies insure your vehicle on. NOT what you may or may not be able to sell it (or bought it) for.

One thing that may save your ***, is to figure out the manufacturer for aaaaallll those aftermarket parts that are on it along with the dollar value (minues depreciation) and list them as customizations... you'll bump up the value of what will be insured a little more, but it's still going to be nowhere near what you paid for it.

Best of luck to you.

Martlor13

I don't think it was snobbish. Most of the time, a stock xj is worth more then a modded one. From what I gathered you bought it from a dealer? They usually sell vehicles for more then their worth so what your saying about price paid doesn't necessarily mean it's worth more then other jeeps. What rates is your insurance giving you?

andrewmp6

You can get custom car insurance but it has a lot of hoops you gotta jump throw,Like it has to be parked in a garage over night,limited mileage and you will need a car appraisal to prove its worth.Best thing you can do if you want a daily driver is stick to the normal car insurance and take a lot of pictures showing whats all done to it,And a list of every part from who made it to the part number.

Martlor13

I guess what I'm trying to figure out is how you determined that it's value is way more? The mods don't make it worth more and kbb is typically pretty good at giving fair value prices

Basslicks

Probably the description of what the company sells on their website....

"Here at Davis AutoSports, we offer the nicest, lowest mileage Cherokee XJ's in the entire country. You can expect us to have anything as low as 15k mile original Cherokee to a fully custom built, modified Cherokee to a Full Nut and Bolt Show Quality Restored Cherokee. No matter the miles, options or price, rest assured our Cherokees will not be your ordinary XJ on the market. We ALWAYS have Cherokees in inventory, even if they are not listed on our site for sale. We offer every Brand including, Fox, Rubicon Express, Bilstein, ProComp, Skyjacker, Warn, ARB, Rigid Industries, Dana, G2, Smittybilt, K&N, Ripp, Amp Research, ATX, Nitto, BFG, Bushwacker, Borla, Currie, Detroit Lockers, Eaton, Fab Fours, Fabtech, Flex-a-Lite, Icon, King, Fuel and Optima just to name a few. Whether is a full blown nut and bolt show quality Restoration, a simple suspension upgrade, or upgraded leather interior, we are truly a one stop shop for your Jeep Cherokee XJ's. For our expert product knowledge & professional installation, please contact Jonathan Davis at 202-491-9929. All of our custom built Cherokees come with a FULL 1-Year Warranty on Parts and Labor for modifications installed. Our Full Restoration Cherokees come with a 1 year BUMPER TO BUMPER WARRANTY and a 2 year POWERTRAIN WARRANTY."

sauce:

http://www.davisautosports.com/jeeps.php

andrewmp6

Davis auto sports is a car lot that takes low mileage jeeps throws a lift and all the off road goodies we love on them.And sells them for some sky high prices.Take a look for yourself http://www.davisautosports.com/jeeps.php

Rogue4x4

Did I say you had an issue with the Jeep? No, I didn't. You aren't looking for good info on insurers, you're looking for someone to cover the cost of your purchase should something go wrong. You aren't gonna find it, because you paid too much money.

As far as being a "build it snob", yes, I build my own stuff. All of it. Bumpers, beadlocks, you name it. And, it gets used. Both on and off road. It isn't showroom shiny, doesn't have that new car smell, but I built it to go. Not for show. It is mechanically sound.

Don't be a whiney little turd because you paid too much.
Preach on brother. Nailed it.
Thank you. Also well said. Also I don't think the rates are the issue with him, it's the payout if something happens...
...and all those hoops are not going to apply here. It isn't a high dollar value car, no matter how much he paid for it. Full coverage insurance with comprehensive coverage and a detailed list as you stated, will be the only way he recoups anything, and it won't be anywhere near what he's thinking...
Because he paid a lot of money, from people who mod/restore all different kinds of rigs. They built their reputation on restoring/modding older vehicles as well as brand new JK's, most of which now hold a higher value because they are sought after in the automotive world...they then use that rep to restore ALL types of rides, and charge a premium for them based on their reputation. Not saying they don't do good work. Just saying they rape you on cost, because they have had some success in the restro-mod world.
Like I said...build a few restro-mods that are highly sought after, and charge a premium, then build all kinds of other rigs, and sell them as if they were collectors cars.

Good luck OP. No ill will, I just think you paid too much money for something you could have gotten for MUCH less.