Insurance Recommendations Options

[ThinAir]

Seems like there was a thread about 914 insurance, but I can't find anything by searching.

So I'm looking for recommendations on insuring my 914. It's a 73 2.0L that is "garaged" in my carport (not a locked garage). I drive it 8 miles each way to work each day.

My search online came up with nothing but places that require a full locked garage and/or that the car not be a daily driver. Does anyone know of any options for someone in my situation? This is the first 914 I've owned that is worthy of more than just liability coverage.

[Brad Roberts]

I actually have good luck with Allstate. My wifes car is fully covered as well as "Muellers6" I have them setup for mileage not to exceed 10k miles a year.

B

[ThinAir]

I'd hate to give Allstate my business given they way they are treating my son regarding the value of his 73 that their driver totalled. The way a company handles a claim when they are on the other side says a lot about how they'll handle it when they are your insurance company. Still, it's worth considering. I hadn't thought of a "normal" insurance company since so many won't even consider anything older than 10 or 15 years.

[Brad Roberts]

I hear you.

I think the only reason they cover our cars: We have a 00 truck with them and a 01 Tahoe. 4 cars total.

B

[dagdal1967]

I'd be interested in this as well as I'll be using mine as a daily driver.

James Adams said that he has some friends (in Texas) that have 3 daily drivers and was going to talk to them to see who they insure through..


HEY JAMES ... Any news on this???

Doug

[Lawrence]

My insurance (Worldwide) came up for renewal, and they told me they weren't going to insure the 914/6. They said that Porsches were in a class of cars that they deemed "unacceptable" to insure.

I talked my way into getting simple liability to cover me for a little while, but I've got to find a new company, too.

Bastards.

[anthony]

If you can comply with the restrictions then try a collector car policy.

I'd hate to give Allstate my business given they way they are treating my son regarding the value of his 73 that their driver totalled.

The problem with regular insurance is that they go by blue book or whatever book values. If you have a 914 in exceptional condition you need to either submit an appraisal to your insurance company (and then pay a higher rate based on real value of the car) or you're going to get screwed when you file a claim.

[JWest]

I don't have anything good to add - my friend with the 3 daily driver 914s just uses a regular policy (not sure which company) and pays $650 for the first and $500 for the additional cars - liability only. He is older and that is in Fort Worth, TX.

Mine is not yet insured (or registered, or drivable, or even a car to most people) so I can't give personal experience.

[Mark Henry]

The problem with regular insurance is that they go by blue book or whatever book values. If you have a 914 in exceptional condition you need to either submit an appraisal to your insurance company (and then pay a higher rate based on real value of the car) or you're going to get screwed when you file a claim.

Same here in Canada, you will get screwed without an appraisal. Most companies here now want one anyways.

[Brad Roberts]

Allstate must trust me.

They ask me how much the car is worth and I tell them. Wifes GT flared 73 Silver 2.0 insured for 8k. "Muellers6" is insured for 12k. They send me paperwork showing what the car is covered up to.

It *could* also be that we have NEVER made a claim in 10 years we have been with them.


B

[SirAndy]

i had Progressive. got good coverage for my '70, but i had to pay a fortune (mostly because i was new to the US and didn't have any driving history here).
i got a quote from 21st in january, same coverage but HALF the price.
only problem was, they only go back to '71 (IMG:style_emoticons/default/sad.gif)
if i somehow could tell them my car was a '71 ....

[Mark Henry]

Brad,

A buddy of mine had a bug, he bought it a several years ago for $3000. Then about 3-4 yrs. back he did a semi-resto and paint for about another $3000. He asked me what it was worth, I said at least 6000 bucks. I told him to get it appraised, he said exactly what you just did, that he's dealt with the same insurance company for years and that they trust him...yada, yada.

A week later an old lady pulled out in front of him and creamed his bug. The appraiser came around and told him $1500.! Buddy freaked and complained, but the company just said that he could have the 1500 plus the creamed bug, take it or leave it.

He said that he just told the agent what it was worth, they said no appraisal, so, too bad.

Yah sure, he changed insurance companies, as if they cared.

[Brad Roberts]

I call today.


I have ran about 20 914's through this lady as well as 2 911SC's.. without appraisels... AHHHHH



B

[kdfoust]

If you can comply with the restrictions then try a collector car policy.

I'd hate to give Allstate my business given they way they are treating my son regarding the value of his 73 that their driver totalled.

The problem with regular insurance is that they go by blue book or whatever book values. If you have a 914 in exceptional condition you need to either submit an appraisal to your insurance company (and then pay a higher rate based on real value of the car) or you're going to get screwed when you file a claim.

I use State Farm. They have the lowest rates for my wife and I (we're in the lowest possible rate classification: no tickets, no claims, good credit...) They've never had an issue insuring any of our cars (everything from 1954s to 1997s). My coverage on the 914 is limited mileage which means less than 5k miles/year and I do have full coverage with no appraisal (I did tell them what it's worth at the time of purchase). I could have insured the teener as a daily driver, but, that's not how I use it so I save the money.

I have recent experience (in Feb 2003) in dealing with insurance companies in the event that a "collector" or older car is in a wreck:
My wife was in the HOV lane of SB405 north of Long Beach when a moron in a Mitsubishi Gallant lost control of his car striking my wife's car deirectly in the passenger wheel and passenger rear quarter panel (my wife's friend riding in the passenger seat screamed as the Mits basically demoed on impact, pieces of plastic flying everywhere). Our car, a mint '83 Mercedes sustained significant damage but did it's job well protecting my wife and her friend from injury. The moron was clearly at fault. The insurance company, American Family Insurance, based in MN has a local claims adjusting company, Crawford and Co. handle the claim since apparently SoCal is a pretty specialized market.

Crawford and Co. "conduted a market survey" to determine the value of the Benz. It turns out that I had no argument with their valuation as it was relalistic and we were able to locate another car in similar condition as a replacement for a similair amount of money. I did get feed back from the adjuster at Crawford that American Family expressed surprise at the value of the Benz, however, for those of you living in SoCal you know the popularilty of the marque. When I relayed this to my my bodyshop guy he told me that the California State insurance regulation agency (I forget the exact name) had ripped nearly every insurance company doing business in CA a new asshole the year prior because they had been screwing people on third party claims (the type of claim I'm describing here) and like Mark Henry described earlier.

For collector or specialty cars the "book value" has little relavence to the market value. Had the appraisal/market survey turned out to have been out of sync with the actual value of my wife's car I was prepared review the receipts documenting the level of maintainence and cost of all work/parts put into the car as well as values of similair condition cars with the insurance adjuster. Failing that the next step would be to file a compliant with the State insurance oversight agency. The downside of the complaint process is that I'm sure that the timeframe for resolution is measured in months so you'd have to be prepared to endure financially by continuing to rent a car or by buying a car without the insurance help. Fortunately I didn't have to get into it.

One more thing that a friend taught me is to make sure that you are always applying pressure on the insurance company during the claims process by:
1. Having a rental car which they will have to pay for that is comparable to the car you've lost. (costs them $$$/wk even if they try to ignore you)
2. Calling regularly (I called once per week) to check the progress of the claim.
3. Document every conversation.

Good luck,
Kevin

[Mark Henry]

Here an appraisal is $90. (Canadian) from Faucet’s Motorcoach. They are the most expensive antique car restorer in the area, well respected and recommended by my insurance company. They give you a package, that has several photos, an inspection report and the appraised value, all in a nice folder, very professional.

The owner, Art Carney, asked me how much that I thought it was worth, I told him about $8,000.00. He looked through a bunch of books making notes, kept going back to the teen on the hoist, asking me questions. Then surprise, surprise he takes off the rockers (no plastic rivets) and makes a full inspection of the longs! Wow, this is not a Porsche shop!

He then asked me over, pointed out some of the minor issues that my teen has/had, told me that it was a real nice 914 and that its replacement value was $11,000 (Canadian). Good news for sure.

Now that I know more about the 914, I realize now how much that I totally lucked out in getting my nice ride. If I had to replace it, I would be phoning Brad to find me a new one in California and getting it shipped, so I think the appraiser was right on.

BTW before I had it appraised I told the insurance agent that it was worth $8,000. and I was quoted a price, when I took in the appraisal the difference was only about $30 per year.

[dagdal1967]

Ok..

To Re-cap breifly for those of us who are looking for insurers, according to members, here is a list of the insurance companies who have insured '14s

Progressive
21st
Allstate
State Farm

There are a meriad of other "classic insurance" companies if you can limit your mileage.

Is anyone here a member of the Porsche Club? I know here in the UK, the Porsche Club tries to negotiate discount deals with several specialist insurance companies? Does the US club do the same?

Is there any mileage in clubbing together (so to speak) and approaching some of the major insurers ourselves?

Ya never know (IMG:style_emoticons/default/blink.gif)

Doug