Insurance time again..........

[fred cook]

Almost time to renew the insurance on my 911SC sunroof coupe. I'm trying to decide what value to insure it for. The car is pretty much completely rebuilt, bare metal respray, all new lightweight interior, Fuchs 7" and 8" wheels, all new brakes, front suspension and steering rebuilt, Bilstein shocks, all new body seals and grommets, etc, 3.3SS twin plug engine with crankfire ignition, rebuilt about 4 years ago, runs good, no leaks, etc! Last year I had it valued at $35K but I think that might need to go up some. What say ye?

I would definitely raise the value, Fred. I'd insure a stock SC at at least $35K, and increase yours to $40K. While some would argue that the mods on your car decrease the value of the car, the beauty of stated value insurance is that you are stating the value the car has to you. You know both what those mods cost and, perhaps more importantly, what the car overall is worth to you, rather than to some wholesaler.

I plan to bump my very nice, but driver quality '85, to $45K.

[RSBob]

See if your insurance company will go with $42K but you may need to provide additional documentation to justify it. They want as much money as you are willing to send them within reason of paying out a total loss and $42K is not excessive

[mhackney]

Hagerty has market values plotted over the last year. They are a great resource to estimate value.

[aread]

Just throwing this out there: My '88 is insured through American Collectors. I valued mine at 25k and have adjusted my value by 5k up each year, to stay current with the market (crazy, but thats seems to be about right). They have adjusted the premiums slightly, but accordingly. Best insurance company I've dealt with. Trust me, I just had to file a claim, and they were fantastic, start to finish. I only say that now that they got me 91% of my deductible back on a recent "bender".

Hagarty was about double on premiums comparatively

[HaroldMHedge]

The Hagerty website has a valuation tools link on their website.

Just checked my car and my stated value appears to be correct.

[MARISOL78sc]

Hagerty agreed at 45K, $560 a year 78 SC.

[tirwin]

Originally Posted by fred cook

Almost time to renew the insurance on my 911SC sunroof coupe. I'm trying to decide what value to insure it for. The car is pretty much completely rebuilt, bare metal respray, all new lightweight interior, Fuchs 7" and 8" wheels, all new brakes, front suspension and steering rebuilt, Bilstein shocks, all new body seals and grommets, etc, 3.3SS twin plug engine with crankfire ignition, rebuilt about 4 years ago, runs good, no leaks, etc! Last year I had it valued at $35K but I think that might need to go up some. What say ye?

Fred,

I’d say your car is worth much more than that.

Here is my experience. Short version: I would call Chubb. I did some research last year and almost went with them but I just got my renewal notice in the mail from my current insurer (Leland West) and I think I’m going to switch to Chubb.

Here’s some things I learned.

1) Not all the insurers will value the car for what you think or an appraiser thinks it’s worth. Leland goes by published sale prices (auctions). They say if you can show them another car just like yours that sold at a higher price they will insure it at that value.

2) There are lots of insurers who do bait and switch. You call them and say you want a policy with X agreed value and Y mileage restriction, etc and they say SURE! ABSOLUTELY! NO PROBLEM! Then you get into the process and you’ve invested a bunch of time and at the very last minute, what do you know, that darn underwriter just came up with a reason why they can’t write the policy the way they originally promised. Watch out for that.

The reason I liked Chubb were 1) several Pelicans recommended them and had good things to say 2) their prices were among the most competitive and 3) they answered my questions very thoroughly and completely. For example, I drive to Amelia and Hilton Head car shows every year. I asked several companies if my friend was allowed to drive the car. Almost every insurer said “hmmm... well... see... this person isn’t on the policy. uh... we’ll get back to you.” Chubb said no problem — as long as I have authorized that person to drive the car then it is covered. They were hands down the best I’ve dealt with.

[BW911]

Think about how much it would cost you to replace that vehicle with a comparable one, should it be stolen or otherwise lost. Call Haggerty or one of the other collector car insurance companies mentioned here and discuss it with them. Then make a decision. You may conclude $35k is low.

[joefrantz]

Take a look here:

https://bringatrailer.com/search/911+sc/auctions/

This link goes to the results of a search for 911SC's on Bring a Trailer.

You can browse the past several months of sales and get an idea of where you stand.

Pick a price, find a car that sold in that range, and look at the details of the auction - condition of car, discussion etc, and decide how your car compares.

There are alot of SC's on Bring a Trailer, and a lot of variation in condition and price.

It shouldn't take long to zero in on one of similar condition, and that will give you a pretty good idea of your car's value.

Also, +1 on Chubb.

[86 911 Targa]

^^^^^
Here is what we have, which will be up graded
to ~60K on the next renewal.

Gerry

[fred cook]

I just checked with "Chubb" and it seems they don't offer automobile insurance "in my area"! I am currently insured with Leland West and have been happy with their service so far. Of course, I haven't had to make a claim so that could change. I've got about a month and a half to decide so time to do some more research!

Did you get the wiring schematics?

Fred C.

Originally Posted by tirwin

Fred,

I’d say your car is worth much more than that.

Here is my experience. Short version: I would call Chubb. I did some research last year and almost went with them but I just got my renewal notice in the mail from my current insurer (Leland West) and I think I’m going to switch to Chubb.

Here’s some things I learned.

1) Not all the insurers will value the car for what you think or an appraiser thinks it’s worth. Leland goes by published sale prices (auctions). They say if you can show them another car just like yours that sold at a higher price they will insure it at that value.

2) There are lots of insurers who do bait and switch. You call them and say you want a policy with X agreed value and Y mileage restriction, etc and they say SURE! ABSOLUTELY! NO PROBLEM! Then you get into the process and you’ve invested a bunch of time and at the very last minute, what do you know, that darn underwriter just came up with a reason why they can’t write the policy the way they originally promised. Watch out for that.

The reason I liked Chubb were 1) several Pelicans recommended them and had good things to say 2) their prices were among the most competitive and 3) they answered my questions very thoroughly and completely. For example, I drive to Amelia and Hilton Head car shows every year. I asked several companies if my friend was allowed to drive the car. Almost every insurer said “hmmm... well... see... this person isn’t on the policy. uh... we’ll get back to you.” Chubb said no problem — as long as I have authorized that person to drive the car then it is covered. They were hands down the best I’ve dealt with.

[tirwin]

Originally Posted by fred cook

I just checked with "Chubb" and it seems they don't offer automobile insurance "in my area"! I am currently insured with Leland West and have been happy with their service so far. Of course, I haven't had to make a claim so that could change. I've got about a month and a half to decide so time to do some more research!

Did you get the wiring schematics?

Fred C.

Huh. That is really strange. I will give them a call too. Maybe something has changed?

I did get the schematics. I'm scanning them and merging them. Will get them back to you in a few days. Big help! Much appreciated!

[SalParadise]

Originally Posted by mhackney

Hagerty has market values plotted over the last year. They are a great resource to estimate value.

Unless you have a 1975 911 S Targa that is rust-free and has a rebuilt engine. Hagerty Value = $18K. Yeah right. That's what they were willing to insure for.

[tirwin]

I just got a letter in the mail from Leland West (my current insurer). It seems they have switched underwriters to AXA Art. Don't know anything about them but they are rated A+ by Standard and Poors. I think the old underwriter was American Modern Home (or something like that).

Anyway, my policy is $340/yr for $40k agreed value and no annual mileage restrictions. That's exactly one cool, crisp George Washington less than what I paid last year! How will I ever spend the money???

[dfhtrhjn]

I pay for an appraisal from a reputable independent source (usually about $275) when I renew and need to change the value. I submit the paperwork to my insurance (state farm in my case). If you ever need to file a claim, you've got documentation to back it's value.

One of my 911s got t-boned, was the other guys fault, totaled the car. His insurance wanted to mess around with the value, I faxed them the appraisal paperwork, they wrote me a check the next day.

[kyngfish]

Hagerty's valuation tool values a 3.2 Carrera (915) in "Fair" condition, meaning, regular stone chips and the occasional ding, but mostly original, as 22k.

"Fair" might be a bit on the rougher side, but most people that drive their cars would probably slot between "Fair" to "Good".

I haven't seen ANY 3.2 Carreras for sale, or selling for the low 20s. Maybe high 20s for high mileage examples?