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vmb vmb is offline
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State Farm wants to know........

With what is happening to the values of our 930s, I contacted my State Farm agent saying that I think I need to update the agreed upon value of my car. So, being far from stock, I thought I'd ask you all for your opinion! I don't have any intention to sell, just want to make sure I'm insuring it fairly. So here goes:

1979 930, with a transplanted 1991 turbo motor. Here's where it gets unclear: the PO said that his dad was friends with Tom Milner at PTG, who put this motor in after detuning it for pump gas. I emailed Mr. Milner a while back to ask for details, but all he could say is that any of the guys that would have done this work were long gone from his shop. Anyhow, it's not the original numbers-matching motor. I have a very long build/worksheet from Andial that came with the car. AFAIK, the transmission is original, and the IC is from a 930 motor, not the C2 style. The car did come with a RUF IC for installation, but I never got around to it and sold that. The suspension was old and worn, so I did swap things out for Rebel Racing coilovers with the guidance of Clint, tuned more for street+DE, not hard track days. It's rolling on 7&9 fuchs. It has the cork interior with sport seats. A/C is removed. Overall cosmetics is good, not great, needs a thorough polish and leather cleaning. Runs well and strong, but one of the oil tubes is leaking. I have never dyno'd it to confirm if this is a "special" motor or not. The odometer reads 56k. The current motor supposedly has less than that.

So, with this mystery motor, and coilover conversion, is this a $30k car? I suspect it is not a $60k+ car due to the non-OEM mods. But somewhere in between? Thanks for your opinions. I apologize for not having many pictures. My agent just sent me the insurance form today with a deadline of next week.



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Vic
1979 930 with Rebel coilovers and many more parts on shelf to be installed.........
Honda Odyssey minivan parked under the turbo
former Tony//Kart shifterkart owner

Last edited by vmb; 06-04-2014 at 07:19 PM.. Reason: mileage
Old 06-04-2014, 07:14 PM
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It's not in State Farms interest to "carry" that increased value onto your car. They want to maximize their premium's they charge you, and minimize their "return" to you should you need to make a claim.

My registration on my 1983 911SC(now with an 86 930 stock 3.3L) is about $65 dollars per year in California(understanding that they BASE this rate on the "value" of the car. It's worth as it stands roughly $25-27K in resale value(high teens if it had the 3.0L N/A motor), so obviously their is a disconnect, if my clapped out, not worth than $2500 Toyota Corolla commands a $145 dollar charge to register per year.

If you want additional coverage, then ask to adjust and pay accordingly, or search a different insurer to get the coverage of what you want.

Essentially, a human life is worth nothing, except the "value" or importance we place on it. Ironically, you can insure that "value" thru a life-insurance policy. Life is stranger than fiction.
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Old 06-04-2014, 08:13 PM
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Probably a $50k car.

Switch to Hagerty.
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Old 06-04-2014, 08:19 PM
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In today's market you don't get any decent 930 for 30k

Look at hagerty valuation tool and go from there.

You don't get too much for 60k either. Don't sell yourself short. Build your case based on current market value.
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Last edited by jsveb; 06-04-2014 at 09:29 PM..
Old 06-04-2014, 08:38 PM
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Your agreed value should be the price it would cost to replace the said car with another at the present time with present valuation. Send him a copy of the Hagerty report with your request.
Old 06-04-2014, 08:53 PM
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vmb vmb is offline
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I just plugged in the current value I'm using with State Farm into the Hagerty site and Hagerty was 4x my current premium for the same valuation. I need to make sure the deductibles and liabilities are the same though.
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Vic
1979 930 with Rebel coilovers and many more parts on shelf to be installed.........
Honda Odyssey minivan parked under the turbo
former Tony//Kart shifterkart owner
Old 06-04-2014, 09:15 PM
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As a part time Insurance Adjuster, I say document everything & take plenty of pictures.
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Old 06-04-2014, 10:22 PM
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I just switched from Hagerty to Grundy. I was very unhappy with Hagerty after 10 years as a customer, their customer service has declined and on an annual basis abut $800 more than Grundy for the same agreed value on my 930.
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Old 06-05-2014, 04:17 AM
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I too am with State Farm and have agreed upon value on the P-cars and TR6. Right now i'm in the process of increasing the value on the 930 from $50k to $80k based on market conditions. when i sent SF the request to increase it and included the Haggarty report, i was told to get an appraisal and if it was in line with my request they would increase it. with the new agreed on value of $80k, my annual premioum will be around $360 / yr on the 930. haggarty wanted $1300 / yr with the same dedcutibles.
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Old 06-05-2014, 06:12 AM
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thanks, cellison. That helps me alot. (Thanks to everyone else's thoughts too)
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Vic
1979 930 with Rebel coilovers and many more parts on shelf to be installed.........
Honda Odyssey minivan parked under the turbo
former Tony//Kart shifterkart owner
Old 06-05-2014, 06:30 AM
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I am local to you and have a Porsche shop specializing in the 930. While this makes me only one of the many skilled 930 guys on here I would be happy to help put a value on your car that the insurance company will accept.

Kevin
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Old 06-05-2014, 07:20 AM
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Hi, Vic

That's a 60k to 80k car...Grundy. They pay no questions asked.

State Farm with all the claims they have not paid is risky.

I've just seen new ads on tv for american collector insurance. Insurance for Collector Cars and Collectibles | American Collectors Insurance
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Old 06-05-2014, 07:29 AM
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I'd also say 55k-60k.

I'm also jealous of your garage. You could stack them 3 deep in there!
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Old 06-05-2014, 07:44 AM
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Is a 930 with the non original engine worth more or less than a 930 with the original engine and a slant nose conversion?

My point is that the slant nose conversion can be undone for $10k whereas putting back the original engine may not be possible...
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Old 06-05-2014, 10:01 AM
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To add to that scenario- I have a nice front mount oil cooler and a proper under-bumper valence for it that I wanted to install for better cooling. I always figured since my car is not original, this would only be an improvement both functionally and also maybe add to the value. But what it will change is the outward stock vs. non-stock appearance.
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Vic
1979 930 with Rebel coilovers and many more parts on shelf to be installed.........
Honda Odyssey minivan parked under the turbo
former Tony//Kart shifterkart owner
Old 06-05-2014, 10:21 AM
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Hi VMB,

Great looking car! I am local to you. Who do you use to work on your 930? I am sending my 914/6 to Ralph's this weekend.
Old 06-05-2014, 11:00 PM
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willtel- thanks, but with 3 kids and a personal obsession with all things cycling, the garage doesn't look like that anymore, it's filled with bikes and toys! That was a shot from the day we moved in.

Carbster09- I did most all of the suspension work, CV replacement and fluids myself with the help of a couple local friends. I did have the alignment and some minor fabricating done at a shop in Hanover (At Speed) but they no longer do repairs, just sales. I figure I'll still do most of the wrenching myself but I am finding my time is getting very limited lately. Do you know about the local porsche forum, dorkiphus.net?
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Vic
1979 930 with Rebel coilovers and many more parts on shelf to be installed.........
Honda Odyssey minivan parked under the turbo
former Tony//Kart shifterkart owner
Old 06-06-2014, 06:52 AM
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Yes Ralph's does excellent work and he is a great guy..if you can afford him.
Old 06-06-2014, 07:03 AM
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Quote:
Originally Posted by vmb View Post
thanks, cellison. That helps me alot. (Thanks to everyone else's thoughts too)
i have not been able to find a p car appraiser in ATL even after pinging a couple folks who are board members in the loca PCA. with that i haven't gotten the adjustment yet.
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Old 06-06-2014, 11:00 AM
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Guys, thanks for the feedback on Ralph's. As I am working overseas for the moment i need someone I can trust. Been ripped off bad once!
Old 06-07-2014, 05:20 PM
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