'81 930 value for insurance?

[Ukusto]

Hey Pelicans, hoping you can help me with a ballpark value that I should use for insuring my '81 930.
I drive it 2-3 days a week to work when the weather is decent and would sleep better knowing that if something bad happened and it was totalled, I would be able to buy another one with the insurance pay-out.

94K miles
Protomotive 3.3L motor built in '87 cases with G50 5 speed (built at Protosport NJ)
Black Metallic as stated in COA (has had decent repaint in stock color)
18" Speedlines
Recaro's, etc

See pics:

Thanks for your help!

Iain

[mattC2993]

Nice car. Don't you have to get an appraisal to back it up?

[Nachtfalter]

Repaint, non original motor, missing steering wheel, wrong seats, missing Fuchs,.... a real driver. Probably guess mid 60's.

[Ronnie's.930]

Originally Posted by mattC2993

Don't you have to get an appraisal to back it up?

That depends on the insurance company. For example, no appraisals with American Collectors, but they require you to stay within the NADA price guide ranges (can't be insured for higher than the highest NADA value).

[patina]

Similar cars list for sale in the ~75-80k range. I think that's what it would take to replace it.

[Tug68]

Had my 87 with 54k all original paint, aftermarket wheels,steering wheel,stereo,intercooler, G-50/50 5 speed and the rest of the bolt on's that are in my sig. 90k was my appraisal so 75-80k is a littler steep in my opinion.

[Norm K]

I'm at an agreed $100K. Good driver-quality 1980 930 with a repaint and numbers matching, freshly built engine.

[Ukusto]

Thanks for all the responses - what a great forum we have here.

Nachtfalter, I feel that you are about right at mid-$60s.

However, I did have an appraisal done by AAG a couple of weeks ago and it came back with an insurance value of $48K.

I felt that this value was low and called them.
I asked them what they used to formulate their number and basically it sounded like they use the Black Book values for their appraisal as there weren't other 'comparative' cars because mine was so 'personalized'.
They weren't really interested in discussing what I thought might be current value.

So... now my insurance company will only insure up to $48K.

Maybe I'll try some other insurance companies like Ronnies.930 American Collectors.

Iain

[Tug68]

That was the same co. that did my appraisal.

[patina]

Iain go with Hagerty, best in the business.

[Ukusto]

Thanks Patina!
Great minds think alike...

I actually called Hagerty yesterday for a quote and was told that I drive my car too much for them to insure it!

Apparently they have a 20 'driving uses' a year limit in Virginia where I live...
I told them that I need something like 150 'udrives' a year.

Do you use Hagerty and have 'drives' limit in NC?

Iain

[Ronnie's.930]

Iain, I have an agreed value policy with American Collectors with a 7000 yearly miles limit. I found the same thing you did when I shopped Hagerty (plus that they were outrageously expensive).

[Ukusto]

Thanks Ronnie - I'll definitely try American Collectors next.

Iain

[Ukusto]

Ronnie - I called American Collectors and they no quoted me.

The rep stated that their policies wouldn't cover my usage (I told them that I'd be driving the car to work 3 - 4 days a week, weather permitting - maybe 4K - 5K miles annually).

He said some weekend use and Car Shows and 'occasional' drive out to dinner etc would be all that their policies cover.

You might wanna check with them if you use you car more than this...

Cheers,

Iain

Any other suggestions?

[CountD]

Again, sweet car to be driving (almost) every day. Must be an adventure every time you turn the key. Nice to see someone using their beast daily...

[ficke]

Originally Posted by CountD

Again, sweet car to be driving (almost) every day. Must be an adventure every time you turn the key. Nice to see someone using their beast daily...

Agreed!
It is good to hear about the drivers, Enjoy your ride in good health!
Sorry no help on insurance.
I use Hagerty and have a decent rate and decent coverage but I do not drive my cars to work.

[Ronnie's.930]

Now that is really strange, Iain.

I've had my policy with them for going on three years. I used to have the Turbo insured with USAA but they contacted me and said they could not provide sufficent coverage and suggested I try American Collectors. I started the process online, but then a representative called me. As I noted earlier, my policy is for 7000 annual mileage limit (they do not track this, however, and take your word for it) with no "specifics" for type of usage. The only stipulation was that I had to have another car insured via a "normal" policy (I have two other vehicles insured through USAA). Both of those are insured for much less annual mileage usage.

Very weird about the mixed messages.

Note - they had another policy option that was dirt cheap - 3K mileage a year and car used for shows, occasional weekend, and so forth, but that was far too limited for me so I chose the much more expensive, higher mileage option.

That said, I need to do some shopping around, as my car is underinsured, but to bring it up to supposed market standards raises my yearly cost big time - talking double or so just to go up $20K in coverage. A couple of guys in the Turbo forum are using Leland West insurance and say it is very reasonable cost with nothing about usage exclusions - I need to check that out.

[Ukusto]

Thanks Ronnie, I'll try Leland West next.
I believe that they also offer a discount to PCA members.

Good luck with yours.

Iain