Stolen 914-6 GT insurance help Options

[Marv's3.6six]

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.

[rick 918-S]

If you are going to attempt to pursue this with the other carrier you need to find current sales for vehicles that are comparable to what you had. When I did auto claims we arrived at the value by averaging 3 comparable vehicles to come up with an average market value. The appraiser will likely not have the resources you have or the time to come comparable sales. Do your home work and present your claim.

[r_towle]

If you are going to attempt to pursue this with the other carrier you need to find current sales for vehicles that are comparable to what you had. When I did auto claims we arrived at the value by averaging 3 comparable vehicles to come up with an average market value. The appraiser will likely not have the resources you have or the time to come comparable sales. Do your home work and present your claim.

This ^^^^

Put in the effort to show a large enough data set so the insurance company cannot argue.

Actual Value == sold within the past 6 months (I’m guessing)

This represents the true value in todays market to the average person reading the stated terms of the contract.

So, find 10 cars, sold, globally.
Produce the proof.
Be patient.