I'm looking to get an agreed value policy for my 968. Does anyone here have experiences/opinions on who to go with? Chubb? Haggerty? Ideas?
(apologies in advance if this section is the wrong area; wasn't sure where to post insurance related question so I thought this section might make sense)
I use Haggerty
5,000 miles/year
No business use
No race track
Must be parked in structured parking
Stated value of $25,000
About $600/year.
Jay
besides the above listed limitations, my problem with these policies is the limitation on liability. the last time i checked, it only went to $300k. with the umbrella not picking up until $500k, that left a significant gap. also, the reputation for paying claims was not all that great, so i wasn't comfortable leaving AAA.
i like the idea, but would only do it as supplemental insurance, not primary. still haven't done it, but i might.
I use Hagerty as well, but at a (wildly optimistic) stated value of $12K, track use permitted (but damage the occurs at the track is not covered), and it's a little under $400 a year. Never had to make a claim, though, so I can't comment on their service.
I need one now after all the work we are doing. Up to $28k now and still have a paint job to go. We have had Geico since 82 with 6 Porsches and no problems. They will offer a policy for stated value after proof and appraisal. Can only be weekend driver and I have to have two cars newer than 2010. Not gonna happen so it looks like I'm off to find another carrier.
Thanks guys, yeah, I've just started looking - but good to know the details. I see Chubb is who the PCA website is promoting.
interesting. they used to promote haggerty
You can buy agreed value insurance for physical damage only, without liability coverage ( which you can maintain with another insurance company for whatever limits your heart desires ) . AIG issues such physical damage only collector policies I'm sure there are other insurers who must offer that as well. I have an AIG policy with an agreed value of $ 40,000 for about $ 200 / year premium. No appraisal needed, no inspections . Conditions : no tracking and no autocross . Mileage limit 5,000 year.
okay, I'll add AIG to my research list too!
What @ Leland west? I thought PCA recommended them as well. I have my 928 and 968 insured through them. Have not needed to file a claim yet though. Tap wood!
ds968 - that's exactly what i was thinking of doing. damage only on that policy.
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I need one now after all the work we are doing. Up to $28k now and still have a paint job to go. We have had Geico since 82 with 6 Porsches and no problems. They will offer a policy for stated value after proof and appraisal. Can only be weekend driver and I have to have two cars newer than 2010. Not gonna happen so it looks like I'm off to find another carrier.
[/quote]
Haggerty released me from the 2 cars less than 10 years requirement.
This topic has come up in the past...if you sign up for Stated Value insurance through one of these companies to save money YOU MUST PLAY BY THE RULES.
I honestly don't know anyone that's ever had to make a claim...
Jay
that blows the mind. i've had to file 7 insurance claims in the last 4 years. the denali got hit 3 times while it was parked, and 2 other accidents with the other guy clearly at fault. 2 claims on the SL550. i think the only reason that the 968 didn't have any claims was that it wasn't being driven.
that's why i have AAA. they are extremely good on the claims process. if i had to deal with a company that was less than stellar on the claims process, i think i would pass. i don't know how these companies really are, but i would investigate fully.
again though, as a secondary insurer, i can definitely see the benefits. with as much as i have in the car, i'd hate to get bluebooked
There is no problem double-insuring the physical damage on a car, when one policy is a specialty coverage such as collectors or classic policy. It's only a matter of the added premium, but you could also drop the physical damage coverage on your regular policy to offset that cost if you wish. In my case tne $ 200 or so additional premium annually is not an issue so I keep double coverage . The only claim I would file with the collector's policy is if the car was totaled. For repairable damage I plan to use my " regular " insurance policy.
Note : you can't double-insure liability coverage, too many complications come into play there relative to which insurer responds to third party liabilities . No such problem with your own car's physical damage.
And yes, while they don't spot audit you to make sure you comply with the rules / conditions of your collector's policy, when you do have a claim they will check the mileage , circumstances of tne accident, etc to assure you have not violated the policy provisions.
yup - you can bet they will be looking for ways not to pay a claim.
i also would double cover the damages. the last thing i would want to do would be to involve 2 companies on the same claim, unless it involved totaling the car, in which case i would then and only then bring in the second company.
I've been using Condon-Skelly for most of my 'toys' over the years. Haven't had to file any claims, but the rates have been consistently lower when compared with most of the other classic car insurers. Just to make sure you're comparing 'apples to apples', make sure you lay out what the coverages are for the various categories (collision, liability, etc.). A cheaper rate from one insurer may not equate if you're not looking at identical, or nearly identical, coverages across the board. Another option to consider.
cool, adding Condon-Skelly to my growing list.
Report back please...though I like my Haggerty agent...
Jay
Keep in mind that insurance rates for the same coverage may vary widely by the zip code you're in .. And when I say widely I mean it could be 200% + more in one region of any given state of city vs another .
True Dan, any neighborhood that would have you must have higher insurance rates in general <img src="/forum/images/smilies/968/ninja.gif" class="smilie" alt="" />
J/K
Jay