American Modern Insurance

[targa80]

I have had an agreed value insurance policy on my1980SC Targa for the past 10 years with American Modern Insurance. The agreed value is $28K and in 2017 my cost was $359.00. In 2022 the cost was $540 and I just received a quote for 2023 at $617. Without getting into the minutia of the individual coverage limits does a policy cost of $617 and the stated value is still $28K seem reasonable for Classic car insurance in todays market. Other than the increase in premium cost I have had no issues with the coverage or the insurance company. I have been retired for 10 years so it is only driven for pleasure and I do not race or track the car.

[RNajarian]

American Collectors Insurance

The agreed upon value of my ‘75 Targa S is $48,750 with a yearly premium of $473

2,500 miles/year limit
Car must be secured in a locked garage
No drivers under 25 years old

You may want to shop around.

[GH85Carrera]

I use ANAPAC insurance. They have a "gold" policy for older cars.

I have my 911 with an agreed value of $65,000 and it is $193.00 every 6 months, so $386 per year.

I do have a perfect driving record. No tickets or accidents since the 1970s. It has to be garaged, and I am "restricted" to 7,499 miles per year and it is not for business use at all, and it is strictly pleasure driving.

Now I do have my house, and two other cars insured with them as well. My El Camino has agreed value coverage and it is only $169 every 6 months, but it is not even close to the 65K level but not a standard old El Camino value.

[Nditiz1]

Seems a bit much Pat. I pay $185/yr for 30k agreed on my 77. That's with Grundy

[Otter74]

Seems a little high to me. I got a policy with American Collectors in October for my 911 and my Fiat - I pay $567 for both for a stated value of I think $40k on the 911 and $15k on the Fiat. Use terms are typical for them. Whatever your SC is like, $28k seems rather low. I paid $17k for mine in 2015 and I insured it for what I did because I don’t think I could get another one like it for less.

[josephvman]

Porsche now offers their own branded insurance, though it's only available in a few states for the time being. It is agreed value, and premium is based on how much you drive. They also guarantee the use of brand new Porsche OEM parts in any claims. I checked pricing on my 3 cars and they were very reasonable. My only reservation is that they don't appear to have an online portal to easily manage the policy, print ID cards, etc, and I find myself having to use that pretty often. I'm planning on calling them this week and look into that and confirm their quote.

www.porscheautoinsurance.com

[targa80]

Originally Posted by josephvman

Porsche now offers their own branded insurance, though it's only available in a few states for the time being………….

www.porscheautoinsurance.com

They require a 17 digit vin number on their website. My 1980 has a 10 digit vin number so it will not allow on line application.

[Bucketlist]

I just increased my Agreed Value with Leland-West from 52k @ $522 to 80k @ $654 just to keep up with the market. I started at 40k @ $400 in 2014.
I'm in Texas.

[GH85Carrera]

Yea, first off, do some research on the real replacement value of your car.

https://www.hagerty.com/valuation-tools

This is a free site for an average car. They want more information from you if your car is a perfect concours example. It will give you a rough idea of value. And they base it on what cars actually sold for, not some pie in the sky prices.

My sell price for my 85 911 Coupe is 250K, and no one will pay that. I don't want to sell for any reasonable price.

[targa80]

Originally Posted by GH85Carrera

Yea, first off, do some research on the real replacement value of your car.

https://www.hagerty.com/valuation-tools

This is a free site for an average car. They want more information from you if your car is a perfect concours example. It will give you a rough idea of value. And they base it on what cars actually sold for, not some pie in the sky prices.

My sell price for my 85 911 Coupe is 250K, and no one will pay that. I don't want to sell for any reasonable price.

I did go to Hagerty and the average price for a car that is maintained and looks good from a distance with a basic stock configuration for a 80SC targa was $43K. So, I will be looking to increase the agreed value. Also, $43K is about what I have in the car over the past 31 years and I have no plans on selling it until I can no longer press down the clutch and shift gears. Hopefully that won’t happen in the next 20 years until I’m 90 years old.

[sean m]

I'd urge you to also look at American Collectors Insurance. My car, 77 9911S replacement value and insurance for far less than those quoted.

I've never had a claim, but if I were looking, I'd want to know what's available.

Just my $.02

[dubby911]

Take note to what I am going to tell you.I own a large independent insurance brokerage house and for my 2 cents,stop worrying about price and do your homework. Many of these companies have multiple exclusions which can will affect you pleasure

[WolfeMacleod]

Originally Posted by josephvman

Porsche now offers their own branded insurance, though it's only available in a few states for the time being. It is agreed value, and premium is based on how much you drive. They also guarantee the use of brand new Porsche OEM parts in any claims. I checked pricing on my 3 cars and they were very reasonable. My only reservation is that they don't appear to have an online portal to easily manage the policy, print ID cards, etc, and I find myself having to use that pretty often. I'm planning on calling them this week and look into that and confirm their quote.

www.porscheautoinsurance.com

Huh, Wonder what they'll do if a part is NLA?

[86 911 Targa]

If I may, here is an additional though.

Here in California, we are allowed to chose
the repair service provider(s).

However, I have sat in on several conversations
between the insurance rep and a shop.

It would appear that while the insurance company
is negotiating, the shop is also trying to achieve the
highest “return”.

If at all possible, although most shops may not be willing,
you do have the right to “sit-in” during the negotiations.

I did, and it was most informative.

Best,

Gerry

[sky1jord]

My policy is with State Farm, who also insures 2 other cars and my home.

For my 1988 Targa, i'm covered with an Agreed Value of $60K with no limitations.
$173/every 6 months.

[targa80]

Originally Posted by josephvman

Porsche now offers their own branded insurance, though it's only available in a few states for the time being. It is agreed value, and premium is based on how much you drive. They also guarantee the use of brand new Porsche OEM parts in any claims. I checked pricing on my 3 cars and they were very reasonable. My only reservation is that they don't appear to have an online portal to easily manage the policy, print ID cards, etc, and I find myself having to use that pretty often. I'm planning on calling them this week and look into that and confirm their quote.

www.porscheautoinsurance.com

Received the following info from Porsche Auto Insurance.

Thank you for your interest in Porsche Auto Insurance.
Unfortunately we can only insure vehicles up to 40 years old.

[targa80]

Originally Posted by dubby911

Take note to what I am going to tell you.I own a large independent insurance brokerage house and for my 2 cents,stop worrying about price and do your homework. Many of these companies have multiple exclusions which can will affect you pleasure

Thanks for the advice, I though I was in the process of doing my homework by asking members for their input on who they insure their Classic Porsche with. I provided my insurance info as a reference to see how it compares with other quotes. I am receiving good info from many sources. Naturally, I will be asking for quotes from the other companies mentioned in this thread and I will be looking at any restrictions they may have. I now know that the Porsche Auto Insurance exists and is a Non-starter because they provided the following restriction: Thank you for your interest in Porsche Auto Insurance. Unfortunately we can only insure vehicles up to 40 years old.

[targa80]

Originally Posted by GH85Carrera

I use ANAPAC insurance. They have a "gold" policy for older cars. ………
.

Thank you for your suggestion, unfortunately, they do not insure in Florida.

[Qtrfoil]

Originally Posted by GH85Carrera

Yea, first off, do some research on the real replacement value of your car.

https://www.hagerty.com/valuation-tools

My sell price for my 85 911 Coupe is 250K, and no one will pay that. I don't want to sell for any reasonable price.

Guy pulled up to me at a stop light in about 2013 and offered to buy my '87 on the spot. I told him "You can't afford it" and when pushed, told him I'd need $50k, today, on a car that might have been $30k at the time. He declined. Pretty glad now that I was being a jerk then.

[walt]

Your rates are high compared to mine. Try American Collectors, have been using them for years.