Car insurance while ongoing restoration

[rfuerst911sc]

Hey guys I recently purchased a Porsche C4 that needs an engine . I want to get it insured and registered while the sale is fresh . I don't want to put it off for a year and then find out there is some snafu .

Obviously the car won't be driven for a while but I see many trips on the car trailer . Yes I know my truck insurance covers to some degree when I am towing on the trailer .

My current house/car insurer is Allstate . For you insurance experts what type of insurance should I ask my agent for ?

[mattdavis11]

Comprehensive coverage should be all you want for now.

[brp914]

Isn't comprehensive expensive for a car not driven? Would classic car insurance be suitable?

What happens if your car is at a shop and is stolen or the shop burns down?

[Skytrooper]

I have Hagerty

[Zeke]

Originally Posted by mattdavis11

Comprehensive coverage should be all you want for now.

You can't buy comp w/o liability from what I know.
Richard, if you were in CA, you would register the car as a "non op" for less and good for 2 years at a time last I knew. The ins co would have to look at that as a factor. A call tomorrow should give you the answer.

[mattdavis11]

In Texas you can get comprehensive only coverage, or at least you could. It's been a few years, but I had the Porsche covered under comprehensive while I didn't drive it.

Fire, tree falls, tornado, hail storm, rains fish, all covered.

[rfuerst911sc]

Originally Posted by Zeke

You can't buy comp w/o liability from what I know.
Richard, if you were in CA, you would register the car as a "non op" for less and good for 2 years at a time last I knew. The ins co would have to look at that as a factor. A call tomorrow should give you the answer.

Milt yeah I am calling our agent tomorrow , just wanted to try and get smart before the call .

[oldE]

I put comprehensive on the Golf Cab when I got it. Initially it is insured for the purchase price and my insurer knows it is undergoing restoration this winter. The agent advised me to get an appraisal done when we have finished the work.

Best
Les

[Skytrooper]

As I mentioned in my previous post. I had my 71 insured with Hagerty since before it was transported to me. Then for almost 4 years while resurrecting it. I only put Liability on it when I "put it on the road". 20K coverage for under $200 a year. The only thing you need is the VIN. Fire, theft, etc equals piece of mind while you work on it.

[3rd_gear_Ted]

C4 engine replacement is quite a job. Good on you for the undertaking.

[LWJ]

Well, I do business insurance for a living.

Call your agent. Tell them your concern. Ask how they recommend you cover this.

In my past, I once insured an antique, non-operating vehicle as “art.”

Underwriter bought off on it. It was documented. And had coverage from most anything.

[Bill Douglas]

I'd keep up the registration. Like you say it can be a problem and a whole lotta questions and forms to fill out. I wouldn't bother with insurance. It's unlikely anything will happen to it. Just a thought.

[drcoastline]

Originally Posted by rfuerst911sc

Hey guys I recently purchased a Porsche C4 that needs an engine . I want to get it insured and registered while the sale is fresh . I don't want to put it off for a year and then find out there is some snafu .

Obviously the car won't be driven for a while but I see many trips on the car trailer . Yes I know my truck insurance covers to some degree when I am towing on the trailer .

My current house/car insurer is Allstate . For you insurance experts what type of insurance should I ask my agent for ?

Mutliple answers here.

First regarding towing and the trailer. The truck is covered for what ever you have purchased though Allstate.

Liability- By law you have liability (you doing damage to someone else or their property). This is a sum that will pay out on your behalf to fix their property or person.

Collision- covers exactly that you colliding with something. You at your fault hitting something and damaging your vehicle and wanting your insurance company to pay for the repairs.

Comprehensive- covers everything but collision. A flood, a tree falling on your truck, A deer running into your vehicle, a stone cracking your windshield, a shopping cart rolling across the parking lot and hitting your truck. etc.

Liability is mandatory by law. Comp and collission will be required if the vehicle is financed or leased, oprtional if you own it out right.

The trailer- is covered for liability only while attached to your vehicle. So while the trailer is being towed if you ht something with the trailer there is coverage from the trucks insurance. However Comp and collission in most case will not apply. So no coverage for the damage to the trailer.

If the trailer is disconnected from the truck no coverage from the truck applies. It may be possible based on size, vin, title that coverage may extend from your homeowners insurance. But again size, vin and title may trigger an exclusion. Also if the trailer is on or off your property may trigger coverage or an exclusion.

Regarding the C4- this could be tricky as the vehicle is not operable. Most Admitted insurance company such as Alstate will reqire a vehicle to be registered and properly inspected and plates attached inorder to be insured though them.

Coverage for liability may or may not apply from the truck for the C4 while being towed. Each company and maybe state will have it's own policy and wording. So your are transporting the C4 on the trialer that is attached to your truck. You pull into a Chic-fil-A and the C4 hits the take out window as you exit. Is there coverage? Probably to repair the take out window as the car is on the trailer that is attached to the truck. Coverage to repair the car? No.

You are travelling down a road hit a pot hole, the car come untied, rolls off the back and hits a parked car. Coovergage? Most definately not. Not for the damage the car did or the damage to the C4. The C4 is a motor vehicle (even if inoperable) as it has a vin an title and a policy is readily availbe for purchase. it should be isured.

The C4 is in your garage on your property. Parts to rebuild the C4 are also in the garage. There garage burns down. Coverage? Questionable, I would say the parts are coveraed under your homeowners? The car? I would think not as again the C4 is a motor vehicle with a vin and title and insurance is availalbe. But, I have seen one example where a vehicle a Corvette being worked on uninsured in the garage of a personal residence was covered by the contents of the homeowners policy.


In short the rule that applies for coverage is if something has a title and a vin and insurance is redily availalbe for purchase that is what should be the coverage. Cars, boats, personal watercraft, ATV's, guns, etc.

So the C4 should have it's own policy. Keep in mind a company like Alstate will insure for fair market value not stated value. In your case if you plan on investing money into the car it may be wise to look toward a collector policy from a company such as Hagerty, Heacock or American Collector. You can state a value, increase coverage as work progresses and have coverage for parts not yet on the vehicle or spares.

[drcoastline]

Originally Posted by oldE

I put comprehensive on the Golf Cab when I got it. Initially it is insured for the purchase price and my insurer knows it is undergoing restoration this winter. The agent advised me to get an appraisal done when we have finished the work.

Best
Les

In some cases a Golf cart is covered by a homeowners policy as it is a LSV.

[rfuerst911sc]

Originally Posted by 3rd_gear_Ted

C4 engine replacement is quite a job. Good on you for the undertaking.

The guys at Jake's shop can have the engine/transmission out in no time I have seen them do many . So really not that big a deal .

[rfuerst911sc]

I don't think I can register the vehicle without proof of insurance . So I really want minimal acceptable coverage to do that . 98% of the time over this year she will be on my car trailer inside my garage. I should know soon enough when I call my agent . Thanks for all the advice guys .

[GH85Carrera]

One of our local PCA members did a full restoration and upgrades on his 911S back in the mid 1980s. It took many years. He did not tag it for those years. When he went to get a tag they of course said he owned all those years of back taxes unless he could show significant repair bills. He pull out his thick file folder of bills and showed them a total, and the lady exclaimed, oh my gosh, that's more than my house cost! And he got his tag.

It was a cool car.

[herr_oberst]

Originally Posted by oldE

I put comprehensive on the Golf Cab when I got it. Initially it is insured for the purchase price and my insurer knows it is undergoing restoration this winter. The agent advised me to get an appraisal done when we have finished the work.

Best
Les

Originally Posted by drcoastline

In some cases a Golf cart is covered by a homeowners policy as it is a LSV.

Pretty sure he's talking about a VW, not EZGO

[rfuerst911sc]

Called my agent this morning , after telling him what I will be doing with the car we went with a liability only policy . Cost is $120.00 for six months so 20 bucks a month . He sent me an email with the policy and insurance card . Printed the card and I will go to DMV on Wednesday .

[drcoastline]

Originally Posted by herr_oberst

Pretty sure he's talking about a VW, not EZGO

Hahaha now that I took a look when I was fully awake I think you are right.