[hot968]

<b>hello</b>, does anyone have LeeLand West insurance or Grundy world insurance? I have regular Allstate and just found out they would only pay book value if ( I hate to say it but) any thing happened to my Porsche. I was suprised to find that according to Kelly Blue Book the value is only $ 7,200.00. I am looking to replace Allstate but don't know who is better. I have the reduced rate at Allstate because I only drive 1000 or less a year, it runs $800.00 approx. a year. Thanks

Partial Post: Please Login or Register to read the full post.

[94SilverCab]

I have Hagerty....$25,000 stated value with a lot of lost income, additonally insured, etc. $620/year. Bare bones would be about half of that.

Regards,

Jay

Partial Post: Please Login or Register to read the full post.

[ds968]

I have a $ 35,000 stated/agreed value coverage for physical damage only ( my liability policy is entirely separate with Liberty Mutual ). The collectors policy is issued by Chartis, via Barrett Jackson's sponsored insurance broker affiliate. Annual premium is only $ 150. There are somerestrictionshowever, but none of them would affect me
vis-a-vis usage of my car ; can't track the car, can't have a supercharger or a turbo, and they prefer you notify them in advance if it looks like you'll be driving it more than 5,000 mi per year... also, no additional drivers unless it's for mechanical service testing purposes, or emergency situations ( i.e - I just finished a ten winerry tasting tour, and my wife MUST drive the car back [img]style_emoticons/<#EMO_DIR#>/dry.gif[/img] )

Partial Post: Please Login or Register to read the full post.

[Darryl]

I use American Collectors Insurance Inc and have both 968s and my '82 911SC together on a policy. Rates are very good, you can opt for a mileage tier and there are fewer restrictions compared to other companies I checked on when/how/where you can drive the car. Can't track it obviously, but it's only based on mileage. They have 2500, 5000, and 7500 tiers and the lower tiers offer slightly better premiums. In addition to declared value, they also include offer towing and spare parts coverage. You do have to have a daily driver on your regular policy. You can manage your entire policy via web but when I have called them, everyone was very helpful and nice to boot!

- Darryl

Partial Post: Please Login or Register to read the full post.

[jeff968]

I have ACI as well and I'm happy with them. Gotta have stated value with a 968.

Partial Post: Please Login or Register to read the full post.

[chudson]

Agree with Jeff. I'm looking into this now. NADA (the guide most insurance companies use) value for Southeastern US 1993 Coupe is $13150. Site also says "no options". That means you get nothing added for a total loss equipped with M030, 220, whatever. They can't have mine for $13150.

Partial Post: Please Login or Register to read the full post.

[williamoss]

i tried to find any carrier and got just the opposite reaction from the insurance companies listed. They wanted to ristrict my diving the car onty to a car shows and back. No runs to the groceiry stores to a cothing mall, not to take a drive jus because it was nice out, nothing. Even though I have another vehhicle I live alone am a one car diver woh only puts about 6,000 mikes a year on the one car.

William Moss

Partial Post: Please Login or Register to read the full post.

[flash]

insurance is only as good as the track record of the company on paying claims - low rates mean nothing if they find ways not to pay a claim - check that out carefully

KBB is not used much anymore, and NADA is the currently most used guide, though nowadays there are other mechanisms for determining value as well - some companies go so far as to use recent sales comps

i have wrestled with this one for quite some time - i came to the conclusion that there was no way to determine a value they would accept, that would truly allow me to replace the car, and at the same time not restrict how i drove, and also provide the liability coverage i wanted

think about this:

you own a porsche - regardless of what we know, others think that means money - that means that whatever your liability coverage, it had better be enough to handle a law suit - insurance companies are not required to fight a claim, nor defend you in court - they are only required to pay a claim up to the maximum liability - you are responsible for everything else, including the court and attorney costs that exceed that amount - in many areas, this is very easy to do - an average court case now costs well over $150k, and often well over $300k - the best i could find in liability coverage for any of the stated value companies was $300k

the cost to replace the vehicle, if you have a rare one, or one that is highly modified could easily exceed what they will agree to - for example, if i were to replace my car, it would cost me at least $50k to duplicate what i have done - i can imagine similar numbers for a garage queen rare color car, as you would have to strip it down to the bare chassis and start over to truly get what you had - if they won't give you that, what's the point?

an escape route for the insurance company is often modifications, as they love to point the finger at the modifications and deny the claim based on that

i originally planned to use this car for weekend wine trips - i strayed from that for the most part, but have every intention of returning it to that use this year - that means a good 1000 mile run for pretty much any trip - that will quickly add up to more than the companies allow

not being allowed on the track is a big problem too - while i don't plan to race this car, i have taken it out on the track, and i can't say that will never happen again

the reality is that these cars are not worth much - these are very inexpensive and disposable cars in most cases - personally, i have chosen to write off the loss if it happens, and buy the car back and part it out, while i build another one - but, everybody's situation and needs are different

the other thing to consider is what other policies you have - for example, i use AAA - i have my homeowners and everything through them - the breaks i get for multiple policies is substantial, and i get better coverage than i can with any of the stated value companies

make a list of what you want in a policy, and then do the homework to determine if any of those companies fit those needs

good luck

Partial Post: Please Login or Register to read the full post.

[williamoss]

I have a $ 35,000 stated/agreed value coverage for physical damage only ( my liability policy is entirely separate with Liberty Mutual ). The collectors policy is issued by Chartis, via Barrett Jackson's sponsored insurance broker affiliate. Annual premium is only $ 150. There are somerestrictionshowever, but none of them would affect me
vis-a-vis usage of my car ; can't track the car, can't have a supercharger or a turbo, and they prefer you notify them in advance if it looks like you'll be driving it more than 5,000 mi per year... also, no additional drivers unless it's for mechanical service testing purposes, or emergency situations ( i.e - I just finished a ten winerry tasting tour, and my wife MUST drive the car back [img]style_emoticons/<#EMO_DIR#>/dry.gif[/img] )


OK but can you use the car on the road to go to the grocery shop or only use it to and from a car show. I am not talking about using the 968 as a everyday car, but what about that nice sunny day to do a tour of wine country. It that allowed? or does your poilcy limit you to use it only to and from car shows, I do not mean racing drivers education on a race track or racing between pillons in a parking lot. but just talking it for a drive. I ask here specificly because the information I got was the Chartis went out of buisness one year ago and is now owned by IGA. I was looking to get stated value issuance on my 968 car which is worth more than the $7700 in kelly blue book.

William Moss

Partial Post: Please Login or Register to read the full post.

[rl968]

American Collector allows pleasure drives, 5k miles per year. I didn't take collision on the car only liability, $99/year. stated value is $10k, by no means is this a garage queen, that's what my 86 911 is for. For me, this is a track car that sees very limited street use (I tow to events.) I'm obviously not covered while at the track.

BTW, my 86 911 has stated value of $17k, with collision and liability, my premium is $260/year, very cheap.

Partial Post: Please Login or Register to read the full post.

[94SilverCab]

William,

I think you are getting a quote on "parade" insurance...that is very limited (daylight hours, car shows, no parking lots, etc).

What we all have are "Stated Value" policies that are "somewhat restrictive" (5,000 miles/year, inside storage, NOT A DAILY DRIVER, no driving to work), but allow touring and events and just plain old joy riding.

Hope this helps,

Jay

Partial Post: Please Login or Register to read the full post.

[ds968]

" OK but can you use the car on the road to go to the grocery shop or only use it to and from a car show. I am not talking about using the 968 as a everyday car, but what about that nice sunny day to do a tour of wine country. It that allowed? or does your poilcy limit you to use it only to and from car shows, I do not mean racing drivers education on a race track or racing between pillons in a parking lot. but just talking it for a drive. I ask here specificly because the information I got was the Chartis went out of buisness one year ago and is now owned by IGA. I was looking to get stated value issuance on my 968 car which is worth more than the $7700 in kelly blue book".

I can use it for any purpose I want ( other than track/racing ) as long as it's not the primary daily driver.. and I stay within 5,000 mi/year, although the latter is very loose and not all that enforceable.. my policy itself does not express a limitation of mileage, rather the 5k was referenced in an email from the underwriter as an " expected guideline "..

Important note though.. premiums can vary VASTLY from person to person, the type of car is the least of the factors that impact price.. and if you think the variance can,t possibly more than 50% or 100%.. you'd be wrong ..it can be 1000%. Underwriting is often very subjective/arbitrary and not regulated.. depending on your age, marital status, driving record, zip code, etc, etc. the variances can be astonishing. And that's with the same insurer and the same car..

BTW, Chartis did not go out of business, it's the new name of ( formerly ) AIG insurance companies .. which were wholly owned by the greater AIG.. but AIG's insurance businesses have always been financially sound, they have, and have had a separate balance sheet and P&L, not tied to AIG, even less so now..

Partial Post: Please Login or Register to read the full post.