911sc insurance

[tomswa]

While this is not technical, it does offers some savings on driving an older Porsche. My 1978 911sc is gaining in value and I wondered if my insurance was adequate in case of accident. It turns out that State Farm will insure "classic cars" My new policy is for 250k-500k (I have a blanket rider) and a stated value of $35,000 (their number not mine). The sweet part.... The price for the policy which allows 7500 miles per year is $256 per 12 months. This pays to drive old porsches!!!

[porsche930dude]

Cool sure does! I never owned anything newer than 1989 its just not worth the price when we can drive such cool old cars for almost nothing.

[porwolf]

Originally Posted by porsche930dude

Cool sure does! I never owned anything newer than 1989 its just not worth the price when we can drive such cool old cars for almost nothing.

And in California old cars have the additional advantage of costing next to nothing for license renewal. My '79SC with personal plates $125.- and my '82 Landcruiser with regular plates $85.-.

[tomswa]

I am always amazed at the listing of Porsches the authors have owned and sold. I sold a 1969 911t for $7600 prior to buying my 911sc. I wish I had that car now. I will probably buy a newer Porsche but I am all done selling.
Thanks for your comment.

[patssle]

Stated value - is that agreed value? They'll pay that number regardless of what it's really worth?

[flat6s]

It is my understanding that stated value means nothing. That is just a statement between you and your insurance and is not legally binding If Joe Schmoe hits you and it is his fault, you have no agreement of any kind with his insurance. You must have agreed value insurance. With it, your insurance has legally agreed to pay you the agreed upon value. And someone elses insurance is legally bound to the agreed upon value as well. Do not feel comfortable with stated value insurance. It means literally nothing. Don't ask how i know...

[fred cook]

I have State Farm insurance on all of my cars except for the Porsche. I looked into the State Farm insurance and found that the "stated value" policy had too many loopholes. So, I bought insurance from one of the classic car insurers. I use Leland West, but there are several others that are comparable. My insurance for the 911SC runs about $300 per year and I know that it is fully covered!

[emac]

American collectors
1981 sc agreed value 30k--- 8k miles per year---and full coverage all year long, $125 yr
My old ins was more then twice as much and they went book value, I only kept theft and fire during the winter months
Ernie

[WyattEarp]

I used to have one of my classics with State Farm under a "classic" policy since I had my dailies with them. I did some reading and found just as said above. Their policies are only stated value NOT agreed value so you are absolutely NOT guaranteed to receive what you state in the policy. Beware. Get an agreed policy with one of the truly classic insurers.

I'm currently with Condon and Skelly. No mileage limit and my SC and early Bronco cost me right at $300 a year. Agreed values of $25k and $15k with 500k liability.

[bhmkv]

You really need an agreed value policy. With a stated amount they can decide the car is worth any amount based on their market evaluation.

[patssle]

Only problem is there is no agreed value insurance company that lets you daily drive (that I know of). Which sucks - I built my 914-6 to drive...not sit in the garage.