Tell me if I am wrong, or just too cautious???

RC76 · 04-15-2003, 08:54 AM

I finished setting up my insurance for my 1982 911SC today. The insurance lady seemed a little surprised when I asked for comprehensive coverage on a twenty year old car. I guess reading this board and knowing the expense of repairs for these cars just got to me. Fires, vandalism, theft, all those things are not covered without comprehensive coverage. Just wanted to know if others were out there with the same thinking.

Paul Crowther · 04-15-2003, 08:58 AM

I have full standard coverage on my 81, with a local agent, for a few hundred dollars a year (I'm 51 w/good record). I expect that if I ever filed a claim for some huge amount close to market value I wouldn't get it without a fight, but at least I have good liability coverage.

Drive carefully.

Paul

Tim Walsh · Tim Walsh's Garage

I just set mine up and it's actually less money for me to insure my 73 fully than my 96 olds fully but without collision. She told me keep all records of everything you buy for it and take LOTS of pictures.

With the steal I got for this car I really don't think I could afford to buy another one if this one got wrecked, at least on a students budget. Therefore full coverage.

MotoSook · 04-15-2003, 09:09 AM

"The insurance lady seemed a little surprised when I asked for comprehensive coverage on a twenty year old car."..

Don't do business with that lady!

Full coverage insurance for my 911 is cheaper than it is for my Jeep! State Farm.

Formerly Steve Wilkinson · 04-15-2003, 09:09 AM

I pay $650 a year in suburban New York for full comprehensive insurance on an '83SC, and because it's highly modified, I have valued it at an agreed-on $35,000. (I have twice that in the car, but never mind.) The insurance is collector-car insurance through Hagerty. I can drive it as much as I want--there are no mileage-per-year limitations--as long as I don't use it to commute or for work, whch is no problem, since I'm a freelance writer and don't commute. (Some would say I don't work either...)

The only hitch is there has to be at least one more car--the SC--in the household than there are drivers. There are two of us and four cars (SC, Boxster, RAV4 and A4 Avant) so that works too.

I would probably be paying about four times that amount through a normal insurance company.

Stephan

Dan Owens · 04-15-2003, 09:10 AM

You may want to look into getting "Agreed Value" policy. There are limits on mileage you can drive but it gets you full value without any problems should something go wrong. It's also very reasonable in cost too. I think mine is about $350 per year full coverage for an 84 targa valued at $23,000.

Dan O

Paco Anton · Paco Anton's Garage

I could not get full coverage from my insurance company, so I do not have it. Last month I had an accident (rear tryng to swap sides with the front) which is setting me back for some $5.000.

So after learning the lesson I am looking for alternatives to my insurance co.

RC76 · 04-15-2003, 10:48 AM

It's good to know that I am not the only one. The difference btw full coverage and just liability is about 75.00 which is worth the peace of mind. Even with the full coverage, I doubt I could find a newer car within the same insurance price range. Thanks.

Silveresrty911S · Silveresrty911S's Garage

In my policy is the agreed value the same as full coverage? I have a policy with Parricsh/Heacock and I can drive 3,000 miles a year with an agreed value of 12,500. Is there a better way to go because it looks like I'm going to average about 5-6,000 a year as a weekend driver and don't want them to peinelize me for going over the limit.

engken · 04-15-2003, 08:34 PM

I have full (with maximum limits) coverage on my 1980 930 through 21st Century. Not my first choice, but my insurance company for our house and other vehicles (Farmers) wouldn't insure the car without an appraisal. I didn't want to wait for the appraisal and 21st Century insured the car over the phone. As soon as the policy is up, I intend to insure elsewhere at "an agreed" value. You can't have too much insurance in my opinion. I even asked Farmers for a liability umbrella policy of $1,000,000 to cover my house and vehicles (it is actually pretty cheap). The only problem is that ALL the vehicles must be insured by Farmers in order to qualify for the umbrella policy. The 930 with 21st Century makes me ineligible. Consider this, my secretary was broadsided last year by a driver that failed to stop at a red light and had California minimum insurance. She almost died. She still has a limp and just got the brace off her leg after 15 months. The other driversf coverage couldn't even pay for her 1st day in intensive care! There are two lessons here: 1) you should have enough coverage to take care of others involved if it is your fault and 2) if you are lucky enough to have assets (house, money, cars etc.), but have insufficient insurance coverage, you can easily lose everything you have worked so hard for. Covering your car is important, but I think it is really second to protecting others and yourself from real damage.