Valuation Question

[billybek]

With the drop of the Loonie and the price of the air cooled 911s increasing, have you made an adjustment to the insured value of your car?

I think that my valuation in 2007 was around 18K and that is my guaranteed coverage with Hagerty is at. Car is at 46,000 miles and good survivor condition. Certainly not perfect but not too bad either.

[Jp-oh]

I'm upping mine this summer as the valuation will be two years old. Go to hagerty.ca and you can see where they value your car. I just looked quickly and they value a nice clean '83 driver at 25,600 and a really clean but not quite concourse car at, gulp, 44,000 so you may want to revist your coverage. Hagerty is one tool I used but I had to get an appraisal too.

[unclebilly]

Mine are still OK but this did cross my mind when I renewed my policy with Hagerty.

[billybek]

Just as a basic calculation based on dollar value.
Say an average good condition driver is selling for $20K USD that would be almost $25000 Canadian.
The Hagerty USA site sets a #3 class driver (Mines better than this but not a #2 car) $22762 USD or $28,300 Canadian.
I am going to call them to discuss this. I would hate to have anything unfortunate happen to the car and not be in the position to replace it.

[johnsjmc]

If you are insured with lant/hagerty , you are probably still OK in the event of a partial loss ie accident they can see the car and it,s condition.
The problem will be in the event of a total loss ,where they will offer you at most their idea of book value.
I have a yr old appraisal on my 993 at $35 Cdn and it,s out of date now as I think the car should be worth that in USD

[Hawkeye's-911T]

Hey Bill

A little sidebar to your thread - some of you may have already seen this:

Porsche : 911 911T | eBay

I hope this isn't a re-post. The advert may be a bit of an aberration but it is an indicative of just how crazy the market has become.

Cheers
JB

[unclebilly]

I have no idea what to do... I have a firm offer of $5000 US for the 911 Chump car... it is a long hood car and running but will never be a street car, at least not in Canada.

I do have an old 70 911T tub that Andrew gave me years ago that I could fix the poorly repaired collision damage and easily swap the running gear from the chump car into... These days, even a running but incomplete long hood car could / might get $20k... seems crazy to me.

Glad I bought my turbos when I did.