What type of insurance is the best??full or liability

[bmwbeemer7]

I have a 1979 Euro 928. What is the best way to fully inusure this car? Currently I have Allstate liability only. However, I was concidering full coverage. I wne by the office today and the rep told me it would be an additional $400 on my premium and she ask did I want classic car insurance on it. All I want to do is make sure that if anything ever happens to it, I would get the best money out of it as close to the value as I can. Now I know it is a 1979 car, but it is a 1979 Euro Porsche 928 that is in very good condition. Any thoughts???? Thanks

[Landseer]

Depends on use and value.

Classic car insurance usually carries use / frequency / mileage / garage-kept restrictions.
You want agreed value policy if you get it or other full coverage.
Cost is low, but the risk equation is in the favor of the car staying out of trouble per insurance company data.



I tend to use mine as drivers and they are not unblemished collector cars.
My uses exceed the restrictions, making full coverage too expensive and agreed value full coverage prohibitive.

So liability is what interests me most.

[MPDano]

...don't forget about Deductables

[Pete R]

The problem is (at least the way it works in NH) is the car isn't worth much (according to them). If it's totalled they will give you book value which is probably $1500 or something. You should get is appraised and get a "stated value policy". That's an agreed price between you and the ins company.

[PC-85-928S]

if you have a good driving record, another vehicle in your name for daily use and a garage, go with Hagarty, with an agreeded upon value
they are great

[bmwbeemer7]

Sounds good. Thanks guyz. I also have a 94 BMW 325ic which is my daily driver so the 928 is extra and I'll most likely never drive it out of town so the milage will be limited to maybe 50 to 60 miles a week. I'll go ahead and have it appraised and go from there. I'll keep you posted. Thanks again and have a nice holiday weekend!!

[bmwbeemer7]

I have an excellent driving record(no tickets since 1999), another car(my daily driver), and a garage. So I'll check with Hagarty too. I'll post back with the price for a 37yr old old man, lol. today when I stopped by Allstate, the rep told me that my 6 month policy premium would go up $400 if I changed the coverage from liability to full. Sounds like Allstate is on something.

[bluemane500]

1979 Porsche 928 2 Door Coupe Prices, Values & Specs - NADAguides

[bluemane500]

so these are values ins co go by to settle on classic cars depending on condition they can be worth much more,,, by using classic car ins you are limiting yourself to ever getting paid for a claim if it is 400 additional to go from liability to full coverage it is a no brainer,,, if you want to protect your investment insure it,,, if its a garage car that you only take to shows then grundy or haggerty, but if you really want protaction and you want to drive your car insure with a reputable company,,, nadfa guides i listed are the starting point for settlement in a case of a total loss,,,,pete i dont know where you came up with that idea on 1500 you are way out of the ballpark,, i just registered my 79 and i got charged sales tax on the book value of 10k my 85 on a value of 14k these car are very valuable in the classic car guides my opinion is to insure your car without an appraisal unless you think its worth more than the 10k listed in nada,,, if its worth more the premium will be larger

[bluemane500]

keep in mind bmw when you upgrade your coverage to collision and comprehensive the ins co will ask for a pre inspection to check the car for prior damage so in the event of a loss they are not paying you for damage that already existed,,, dano mentioned deductables,,, you dont save much increasing your deductable so go with the lowest deductable they will allow you with your driving record,,, if you think 400 is a lot to insure your car think of what the insurance co is putting at risk,,, the chance of paying out a possible ten,,, a winshield for your car is twice as much as the premium ,,, a scratch down the side of the car is a 3-4 thousand dollar loss for them,,, a flood damage car,, a fire, an accident, hit while parked,, they will have all the liability,,,, you will be protected,,, at the end of your driving season your can take the full coverage off,,,it doesnt matter if you paid 1000 for the car, the insurance company has to settle using the guide i posted and other comps if you feel it is still not enough good luck be smart be safe protect your investment

[bluemane500]

pete dont take what i said the wrong way,, and if you still want that engine its sitting in my shop on a stand with wheels,,, we can roll it into a truck,,, my car is running perfect,,, i am ready to refresh my 79 intake maybe you can help me

[Danglerb]

I use AAA and the only way to get uninsured motorist coverage is with comprehensive, and SoCal has way too many uninsured not to have it.

[bluemane500]

are you refering to compulsory, state minimum ins---- which protects others and not yourself because comprehensive is fire ,theft and vandalism, collision is in the event of an accident that has no restrictions,, limited collision protects you if you get the party who hits you and they are are fault,,,

[aluminum]

Originally Posted by Danglerb

I use AAA and the only way to get uninsured motorist coverage is with comprehensive, and SoCal has way too many uninsured not to have it.

Hi : Danglerb I am in California and with a AAA Policy for 2 drivers >>
NO Comprehensive on it but >>
I have AAA on one of my Cars ( a Ford F 350 truck 1990 ) and it has:
"UNINSURED" Motorists $300,000 /$500,000 ( cost $77 year)
Medical Payments $25,000 ( cost 78 year)
Bodily Injury $300,000 / $500,000 ( cost $255 year )
Property Damage $100,000 ( cost $177 year)
************************************************** *
: Comprehensive ( no coverage ) not required by law *
: Collision ( no coverage ) " "
Total 1 year policy cost $ 587

this is a current rate with no points >>> from a AAA agent in Oklahoma City
Here is a great Link for Insurance Facts
http://www.badfaithinsurance.org/indexdetaillist.html

[bluemane500]

I'm sure he is referring to "compulsory insurance" same as you have not comprehensive

[aluminum]

Originally Posted by bluemane500

I'm sure he is referring to "compulsory insurance" same as you have not comprehensive

Yes no doubt >>
Check this out It's real >( hold on to your seat belt ) > the best and worst 50 company's
http://www.badfaithinsurance.org/indexdetaillist.html
With a single insured driver I like GMAC Great rates and they pay all claims with no problem ever for me . However with any claim other then just property Damage or Med pay I always have a Attorney > But I know a lot of them and 20 % is cheap to get the real settlement rather then a sub standard settlement

[bluemane500]

well it is a negotiation process,, if you do your homework you dont have to share your money with anyone, there is a program called claimbusters online for 15dollars i purchased and settled a loss on a 1987 924 last year for 9800 i think it was an 87 it was last year built maybe 88 anyway cant remember exactly but the first offer was 5200 and they told me it was the most i could get , i pulled my own comps from hemmings car had 42000 mi anyways its always best to have full coverage,,, you really cant afford not to a windshield in my 85 just cost over 1500 dealer item only,,, with antenna,, comprehensive on policy 200 per year no deductable on glass ---no brainer

[harborman]

Originally Posted by PC-85-928S

if you have a good driving record, another vehicle in your name for daily use and a garage, go with Hagarty, with an agreeded upon value
they are great

Yes, Hagarty is very good. I have mine insured for $15,000. It must be garage kept. They will want pictures. There are restrictions on driving and you still need another policy for daily driving. Cost about $500/yr.

[rjm65]

Originally Posted by Danglerb

I use AAA and the only way to get uninsured motorist coverage is with comprehensive, and SoCal has way too many uninsured not to have it.

Hey Mike,

Agree with aluminum, we also have AAA and have liab only for our daily drivers and do have uninsured motorist and uninsured motorist property damage on our policy.

For our 928, we have a separate collector car policy also through AAA. We were fortunate to get grandfathered in as recent changes they've made on only allowing vehicles built prior to a certain year excludes any 928. The car is insured for agreed value of 6K, they came up with that figure and I quickly agreed. The usage limits are very generous, it has comp and coll, and at $110 a year it can't be beat.

There are two types of policies, agreed and stated value. As Landseer mentioned you want an agreed value policy.

Agreed value means if there is a total loss, that is the amount, minus deductible that will be paid out to you.

Stated value is the most that could be paid out. If the stated value is 6k, but at the time of the loss they determine the car was only worth 4k, you are going to get 4K minus your deductible. If the car's value had actually gone up to say 10K, you'll get 6K minus your deductible.

[aluminum]

The Best Insurance Is from a company that's really going to pay off !
You can get a good Idea from this list of who is going to pay off or not .
"FBIC Ranks 100 Insurance Companies For Good And Bad Faith Practices ... The 50 Best Good Faith Insurers & 50 Worst Bad Faith Insurers"
Beyond that The Best Insurance is Insurance that covers what you own > like your House / Bank accounts / anything of value ( like your Porsche )
You don't want to be caught under-insured ! . Many have a umbrella policy . Don't forget your Business if you happen to own one . I was in a No Fault total Wreck once and the other driver had No Insurance / No Drivers License and they where drunk.
I was under Insured with only $100,000 uninsured Motorist coverage . I was almost killed and could have received $200,000 in settlement rather then only $100,000 that I received . I did have $25,000 Med Pay and just about used all of that up . My passenger received $75,000 as they had lesser injury ( Broken ribs and more )
Med Pay Is one of the most important Issues of Insurance in my opinion .
Lucky for me I was in a 944 Porsche a front engine Porsche rather then a rear Engine. Motor was pushed half way through the firewall broken right off the mounts . No I well not post Photos . I like to have about 25% to 50 % more insurance then I need as It's so cheap unless you have a bunch of points