Car Hauler insurance

[Jay Wolf]

A friend of mine bought and fixed up a car hauler.

He thought he could make a profit.

When he went to sell it it found the buyer couldn't get insurance for cheaper than $3000 a year a commercial insurance. He has check with a several insurance companies and find the same thing. They won't insure a car hauler.

Now he has found that no one will buy it because of insurance cost.

he even has the price down to what he has in it.

Anyone out the have a car hauler they insure reasonably.

This is for personal use no commercial.

He even had it on Ebay with a $5K reserve

The high bidder contacted him and agreed to give him the $5K but then back out when he contacted his insurance company. he said he would buy it if he could find insurance.

I am putting a link to the ad only so you can see what type of car hauler I am talking about.

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=300055580563

<img src="http://forums.aaca.org/images/graemlins/confused.gif" alt="" />

[W_Higgins]

My father went through the same thing when he bought a tow truck. His agent was able to work out something reasonable, but after several years something changed recently and he encountered the same thing. Nothing was for hire, it was mostly to pull a trailer with, actually. Pull cars from the woods and mud, then load onto a trailer and haul off. None of the insurers believe it is for private use, so they want commercial rates. It needs a bit of work now, so he just dropped everything until he can get it back into shape again. Wish I had an answer.

[1937hd45]

Why can't you claim it's a flatbed truck?. If you can weld, weld some stake pockets on it and build some racks and call it a rack body? Hot setup around here is to have a truck chassis with a hook and 3-4 different bodies you swap out depending on the job of the day. <img src="http://forums.aaca.org/images/graemlins/smirk.gif" alt="" />

[rocketraider]

I've seen haulers (and trucks) around here with lettering to the effect of "Private- not for hire". I don't know if that makes a difference or not. Seems like unless owner was incorporated as a business, they could not charge commercial rates, but then again I must remember insurance companies are very greedy entities and will spin anything to jack up the premium.

Different scenario, same type of issue- after Mama died last year and I tried to put the house insurance in my name, the insurance company (who had insured the property for 40+ years without one claim) told me they would not write coverage in my name unless the electrical service and heating system were upgraded. So I have done that. Meanwhile, I had to leave the insurance on that house in Mama's name; thank god she'd had the foresight to put me on the policy as an additional insured interest. We'll see what they try to do this year when policy renews and I add a 36x50 garage onto the policy. I expect I may be changing insurance companies.

[Bhigdog]

I had the same thing happen when I sold an apartment I owned. I couldn't sell it until I put $5000 worth of electrical upgrades in because prospective buyers couldn't get insurance without the upgrades. Insurance companies will only write insurance for things they think will never happen......Bob.

[Jay Wolf]

He tried that a flat bed (stake truck) has the same problem with insurance.

[ACowboy]

I agree. Unless the VIN gives it away...it sure looks like a flatbed pickup to me. If you put some rails it would definitely look like a farm vehicle thats to transport bailed hay/grass! It's all in the presentation and intended use. Most insurance agencies don't require pictures unless you a looking for full coverage anyway. Because it is older than 1978, in Virginia it would be considered an Antique vehicle. Sneed Insurance just gave me a quote for $250/year on this truck (if I were the owner). We have seen several "Antique" car haulers, fire trucks, ambulance trucks, military trucks etc. at our yearly meet here called "Field Day of the Past". All have the antique plates and all have collector car insurance. But, don't forget, the hauler cannot be used as a hauler just like the fire engine can no longer be used to put out real fires. The insurance agency already finds it odd that someone wants to own a car hauler, but the owner claims that it only would be used to carry the owner's personal cars. Yeh...right <img src="http://forums.aaca.org/images/graemlins/smirk.gif" alt="" /> So, expect an addendum to the insurance policy that it cannot be used to haul ANY vehicle. This may be part of the problem in selling it and this one: with your "Buy it Now" price it would be cheaper to get a brand new 8.5x20 enclosed trailer to haul my beauty with. (I just bought a brand new one in North Carolina for $4700)