Insurance Question

[CrazyElvis]

Ok.....the Bronco we own (1996 with the 5.8) is my daughters Bronco......she turned 16 a couple weeks ago. The Bronco is in tip top shape inside and out. Body is great....paint looks as good as it would new (Meguiars NXT works GREAT).....motor is tip top......just turned 100k miles.

Looking at what Broncos sell for I'm guessing this is maybe an $8k Bronco?? Of coarse to someone who appreciates Broncos. Obviously not Allstate or any other insurance company. I'm guessing that if it was insured for collision and it was wrecked it would have a value of maybe $2500....??... Is there any way to insure it for more than that?? Anyone here do something similar?? Am I crazy?????

I've just always owned new or late model cars where it made sense to have full coverage.......now on the Bronco throw in that a 16 yr. old is driving it and I'm probably way out of the ballpark to say insure it for 4-5k more than what the ins. co. would value it at.

**** to isure an 07 Suburban LTZ and an 08 Silverado it runs my wife and I $186 a month.......throw our daughter in the mix driving this Bronco and with collision and comprehensive our total would be $397....with no collision and comp it would be $330.

What would you guys do???

Thanks for your advice.

 

[BLADE262US]

Get her some little gas milage car and have it in her name if you dont all your insureance is going up because shes an underaged driver living at your house and they assume she will be driving your vehicles so the probability of an accident go up along with your rates . Then she can drive your bronco and it wont be a big deal because you can loan someone your vehicle without them being on your insurance . Thats what I have seen happen anyway . /emoticons/[email protected] 2x" width="20" height="20" />

 

[BLADE262US]

I have friends here that just went through this Steve the insurance agent told them that if thier son didnt have a car in his name and lived at thier residence when he got his drivers license then thier insurance was going to go up but if thier son had a car in his name then it wouldnt . So they had him get the car in his name with his own policy and Thier insurance did not go up so I dont see how my advice isnt accurate . This was only about 3 weeks ago and I believe thier insurance was through State Farm . /emoticons/[email protected] 2x" width="20" height="20" />