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. |
Cairo94507 |
Sep 17 2022, 11:49 AM
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#2
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Michael Group: Members Posts: 9,826 Joined: 1-November 08 From: Auburn, CA Member No.: 9,712 Region Association: Northern California |
What is the stated insured value with Hagerty? I would submit it to them and let them go after the shop's insurance. That is why you pay for insurance. I have mine with a $150K value; but, the way things are going, I may have to bump to $175K soon.
I am so very sorry that some POS stole your beautiful car- it breaks my heart. I would be a mess if someone grabbed my car. |
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