Stolen 914-6 GT insurance help |
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Stolen 914-6 GT insurance help |
Marv's3.6six |
Sep 17 2022, 09:22 AM
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#1
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Actual member 7" Group: Members Posts: 695 Joined: 22-November 04 From: Huntington Beach, Ca. Member No.: 3,165 Region Association: Southern California |
Hey Teener community I need some help understanding how the insurance game works. I am hoping there are insurance professionals in this community that can chime in and help me understand the mechanics of insurance process in this situation.
As most of you know my GT car was stolen from a prominent Porsche shop in my area. It is starting to look like the car is gone and will be a “total loss.” My car is insured by Hagerty but the loss is the responsibility of the shops insurer EMCIns. As a point of reference James Patrick said a new top end 914-6 3.6 GT could be built for $225k, this would represent replacement value. Yesterdays sale on BaT for a 72 914-6 GT 3.6 of $171k would represent market value today. I have been informed by EMCIns. that they do not pay “replacement value” but they pay “actual value”. How does this work on our cars, how is “actual value” on a 50+ year old high end 914-6 GT determined? Thanks in advance guys. |
TheCabinetmaker |
Sep 17 2022, 09:27 AM
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#2
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I drive my car everyday Group: Members Posts: 8,304 Joined: 8-May 03 From: Tulsa, Ok. Member No.: 666 |
Played that game in the late 80s. Guy rear-ended me when I was standing still, and just destroyed the whole back end of the car. body shop wanted $9,000 to rebuild it and repaint it, insurance company said they'd give me $4,500. I gave him pictures of my car and told them to go find me a car in as good a condition for 4500. A week later they called me back and said not only could they not find a decent car for $4,500 they couldn't find one for sale at all. They paid the entire cost, grudgingly, of the full $9,000
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