Insurance value - '87 Cabriolet

[avale]

I just got a notice that my insurance policy is changing. It is insured at a guaranteed value, but the insurance company noted that they thought I am under-insured. I'm wondering what people think the insured value should be. It is a 1987 Carrera Cabriolet (first year of the G50 transmission) with approximately 150k miles on it. It is a California car that is completely rust free (I'm amazed that I can still see the inspection paint marks on the bolts under the car). It has the original silver paint with only a few paint chip dings. 2 years ago I had the entire suspension refurbished and the calipers replated and rebuilt. I also put new tires on at that time. I have it currently insured at a replacement value of $24k. Any feedback as to what you think the replacement value should be?

Thanks!
-Alan

[86 911 Targa]

Originally Posted by avale

I just got a notice that my insurance policy is changing. It is insured at a guaranteed value, but the insurance company noted that they thought I am under-insured. I'm wondering what people think the insured value should be. It is a 1987 Carrera Cabriolet (first year of the G50 transmission) with approximately 150k miles on it. It is a California car that is completely rust free (I'm amazed that I can still see the inspection paint marks on the bolts under the car). It has the original silver paint with only a few paint chip dings. 2 years ago I had the entire suspension refurbished and the calipers replated and rebuilt. I also put new tires on at that time. I have it currently insured at a replacement value of $24k. Any feedback as to what you think the replacement value should be?

Thanks!
-Alan

^^^^^
Our '86 is valued @ 32K.

Gerry

[RFP]

I would think that you are under-insured for sure... probably by $10,000 or even a bit more.

Rob

[tdw28210]

Low to mid 30's.

[Justin@Athens]

Id' say 28-34k.

[Quicksilver]

When I took the Pooch to Mexico at Halloween I had to get full insurance on it and I was rather shocked that after more then a decade of pretty flat prices they had spiked in the last year. About a $10K jump for my 87.
Pretty surprising. Maybe if they spike enough I can trade it for a track long hood!

[Slimpickins]

At least 10,000 low. My 87 targa is in very good condition as is yours, with 66,000 miles. Just readjusted with the insurance company for an agreed upon value of 40,000.

[avale]

Thank you very much for all the feedback. I wasn't sure if it was just my insurance company trying to get me to pay for more coverage, but it appears their feedback is warranted. This is the only car I've ever owned that is going up in value as time goes on. I did spend $8k having the suspension/brakes refreshed so happy to see that money was spent on something that isn't decreasing in value.

[rshea]

go to the Hagerty Classic Car Value Guid tables and you can gage your car condition with current selling price. Seems like you are underinsured for the rising value of that car.

[11and14]

Concur prices are rising. We've been shopping for another Carrera. At least in asking prices mid-30's appears to be the starting point for decent Carreras now.

[avale]

I was cruising some ads and it reminded me to check the value of my Porsche to make sure I'm carrying enough insurance. Upped the agreed upon value to $35k at the beginning of this year but keep hearing prices are going crazy. It is a 1987 Carrera Cabriolet (first year of the G50 transmission) with approximately 145k miles on it. It is a California car that is completely rust free (I'm amazed that I can still see the inspection paint marks on the bolts under the car). It has the original silver paint with only a few paint chip dings. 2 years ago I had the entire suspension refurbished and the calipers replated and rebuilt. I also put new tires on at that time. What do people think I should be insuring it for?

[RFP]

I'm thinking $48,000... Based on your description, you probably have a "condition 2" car. Very nice, indeed!