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914World.com _ 914World Garage _ Full Coverage on 914

Posted by: bd1308 Oct 9 2005, 09:33 AM

the family switched insurance companies not too long ago....

was paying more for liability only when we pay less now for full coverage.....

but in 914Land, what does that mean?

do they pay for body work in a wreck, pay for a parts car.....?

Posted by: Dave_Darling Oct 9 2005, 09:39 AM

It means they look in the blue book, see that the car is listed as being "worth" $250, and tell you that your deductible is higher than what they would owe you if your bumper got dented.

--DD

Posted by: Part Pricer Oct 9 2005, 09:41 AM

They'll pay to have it fixed after you screw up something else. Of course, there is a $6,000 deductable.

Posted by: ArtechnikA Oct 9 2005, 09:46 AM

they pay for *exactly* what the policy document says. no more, no less. in the event of a claim, if you have "actual cash value" or "fair market value" coverage (in which none of those words means what you think it does) the company will refer to a valuation list (which they will not disclose to you) and come up with "a value". in the case of a 914/4, expect it to be (well) under $1000.

if you want more coverage, you will need to obtain "agreed value" coverage, which will probably require an "independent" appraisal.

there are lots of "collector car" companies that write such coverage, but check the fine print for restrictions. (are you under 25? if so, not getting in. do you have another newer car to use as a daily driver? if not, you're not getting in...)

if you want to treat your car like a daily driver, it'll be covered by the daily driver valuation charts. if you want it valued like a collector car, it needs to be operated and treated like a collector car.

Posted by: bd1308 Oct 9 2005, 10:11 AM

that sucks....

although my car isnt worth too much sitting on jackstands.....

b

Posted by: qa1142 Oct 9 2005, 10:13 AM

I use Haggarty and have $6K declaired value. you have to send pictures etc. but well worth it

Posted by: bd1308 Oct 9 2005, 10:16 AM

i had to send pictures....is that an example of agreed value?

Posted by: qa1142 Oct 9 2005, 11:42 AM

value needs to be written into the policy. Call the agent Monday and ask

Posted by: shelby/914 Oct 9 2005, 11:57 AM

Just wrote the check to State Farm for $110/6 month coverage on a $40,000 stated value policy on a GT-350. That was for everything including 300k liability. Down side is that it is supposed to only be used for parades, shows, club events and the occasional pleasure drive. Haven't reviewed the fine print lately but it use to allow 2500 miles per year. Several friends use Haggerty and they think it is less restrictive. I'm also old, married and have another daily driver, called a 76' 914. and Yes I know it's way underinsurred.

Posted by: ArtechnikA Oct 9 2005, 12:05 PM

QUOTE (shelby/914 @ Oct 9 2005, 01:57 PM)
Just wrote the check to State Farm for $110/6 month coverage on a $40,000 stated value policy on a GT-350.

you need to be careful - "stated value" is a meaningless term.
you need "agreed value."