Insurance up for renewal --- agreed upon value question, 1970 914-6 |
|
Porsche, and the Porsche crest are registered trademarks of Dr. Ing. h.c. F. Porsche AG.
This site is not affiliated with Porsche in any way. Its only purpose is to provide an online forum for car enthusiasts. All other trademarks are property of their respective owners. |
|
Insurance up for renewal --- agreed upon value question, 1970 914-6 |
vintage914racer |
Mar 18 2015, 04:29 PM
Post
#1
|
Member Group: Members Posts: 429 Joined: 28-December 03 From: Minneapolis, MN Member No.: 1,473 |
My annual insurance premium is almost due which prompted me to assess my Hagerty agreed upon value. The car is a 1970 914-6. It's a solid driver with freshly repaired longitudinal, floor pans and hell hole (work done by Rick Ollah in this thread)
Structurally I would say it is now a 9. There are a couple rust bubbles on the body and it has a pretty old respray. In the coming years I'll get the body repaired and looking pretty...once the kitchen remodel is behind me. I have the 914-6 engine case, but the car currently has a 1968s motor in it. So, not wholly original, but could be brought there with the case and a few other pieces. Car is a solid driver that I wouldn't hesitate driving the 1,400 mile trip to and from Road America -- and which I've done a number of times in the last 5 years. My question is, what is a reasonable number to set as the agreed upon value at? A couple pictures, since they're worth a thousand words... |
Jeffs9146 |
Mar 18 2015, 04:41 PM
Post
#2
|
Ski Bum Group: Members Posts: 4,062 Joined: 10-January 03 From: Discovery Bay, Ca Member No.: 128 |
It depends on how much you want to spend per month.
And if you are worried about it being totaled. Most repairs can be done for well under $20K so as long as your damage stays under half that you can save some money monthly. Otherwise it could cost about $28K-$50K or more to purchase and rebuild one. |
laflaur |
Mar 18 2015, 04:58 PM
Post
#3
|
Member Group: Members Posts: 162 Joined: 8-June 06 From: Granite Bay Member No.: 6,186 Region Association: Northern California |
I just insured mine with haggerty and have an agreed value of 45k.
It is a non numbers matching 70/6. they will insure it forwhatever you want,the premium just goes higher. |
Cairo94507 |
Mar 18 2015, 05:30 PM
Post
#4
|
Michael Group: Members Posts: 9,772 Joined: 1-November 08 From: Auburn, CA Member No.: 9,712 Region Association: Northern California |
$60K.
|
bigkensteele |
Mar 18 2015, 05:31 PM
Post
#5
|
Major Member Group: Members Posts: 2,197 Joined: 30-August 04 From: Cincinnati, OH Member No.: 2,660 Region Association: South East States |
Good reading here
https://www.lelandwest.com/stated-value-vs-...r-insurance.cfm I am also trying to figure out how to insure my in-process conversion. I am about to tear it apart, and it will most likely be off the road for a year or two. Essentially a pile of expensive parts in my garage. |
vintage914racer |
Mar 18 2015, 05:38 PM
Post
#6
|
Member Group: Members Posts: 429 Joined: 28-December 03 From: Minneapolis, MN Member No.: 1,473 |
Thanks everyone for the feedback this far. In case I wasn't clear, Ive had hagerty agreed upon insurance for awhile and simply need to boost the value given the recent market shift. The car was insured for $40k which seems light given current conditions. How light is the question.
|
stevegm |
Mar 18 2015, 05:38 PM
Post
#7
|
Advanced Member Group: Members Posts: 2,111 Joined: 14-July 14 From: North Carolina Member No.: 17,633 Region Association: South East States |
My annual insurance premium is almost due which prompted me to assess my Hagerty agreed upon value. The car is a 1970 914-6. It's a solid driver with freshly repaired longitudinal, floor pans and hell hole (work done by Rick Ollah in this thread) Structurally I would say it is now a 9. There are a couple rust bubbles on the body and it has a pretty old respray. In the coming years I'll get the body repaired and looking pretty...once the kitchen remodel is behind me. I have the 914-6 engine case, but the car currently has a 1968s motor in it. So, not wholly original, but could be brought there with the case and a few other pieces. Car is a solid driver that I wouldn't hesitate driving the 1,400 mile trip to and from Road America -- and which I've done a number of times in the last 5 years. My question is, what is a reasonable number to set as the agreed upon value at? A couple pictures, since they're worth a thousand words... These are great pictures. Can you email me high resolution versions for the voting poll for next year's 914 calendar? We won't start working on it until about October. But, these are so great, I don't want to lose track of them. |
vintage914racer |
Mar 18 2015, 05:40 PM
Post
#8
|
Member Group: Members Posts: 429 Joined: 28-December 03 From: Minneapolis, MN Member No.: 1,473 |
My annual insurance premium is almost due which prompted me to assess my Hagerty agreed upon value. The car is a 1970 914-6. It's a solid driver with freshly repaired longitudinal, floor pans and hell hole (work done by Rick Ollah in this thread) Structurally I would say it is now a 9. There are a couple rust bubbles on the body and it has a pretty old respray. In the coming years I'll get the body repaired and looking pretty...once the kitchen remodel is behind me. I have the 914-6 engine case, but the car currently has a 1968s motor in it. So, not wholly original, but could be brought there with the case and a few other pieces. Car is a solid driver that I wouldn't hesitate driving the 1,400 mile trip to and from Road America -- and which I've done a number of times in the last 5 years. My question is, what is a reasonable number to set as the agreed upon value at? A couple pictures, since they're worth a thousand words... These are great pictures. Can you email me high resolution versions for the voting poll for next year's 914 calendar? We won't start working on it until about October. But, these are so great, I don't want to lose track of them. I can certainly send you some. In fact I can probably do one better. Once I get the car back on the road I'm going to have one of my employees, who specializes in automotive photography, do a shoot with the car. |
mepstein |
Mar 18 2015, 07:15 PM
Post
#9
|
914-6 GT in waiting Group: Members Posts: 19,279 Joined: 19-September 09 From: Landenberg, PA/Wilmington, DE Member No.: 10,825 Region Association: MidAtlantic Region |
|
Andyrew |
Mar 18 2015, 07:23 PM
Post
#10
|
Spooling.... Please wait Group: Members Posts: 13,376 Joined: 20-January 03 From: Riverbank, Ca Member No.: 172 Region Association: Northern California |
I would put it between 60 and 100k depending on your sentimental value. Re-evaluate next year.
|
Hawk |
Mar 18 2015, 07:26 PM
Post
#11
|
Member Group: Members Posts: 351 Joined: 31-December 02 From: Ann Arbor, Michigan Member No.: 57 |
I would suggest using $80,000 as the benchmark for a very nice, closer to all original 6. And that's likely to move upward again this year. I have this one agreed to that value through AIG Premier through Barrett Jackson Insurance. Attached thumbnail(s) |
vintage914racer |
Mar 18 2015, 07:37 PM
Post
#12
|
Member Group: Members Posts: 429 Joined: 28-December 03 From: Minneapolis, MN Member No.: 1,473 |
I would suggest using $80,000 as the benchmark for a very nice, closer to all original 6. And that's likely to move upward again this year. I have this one agreed to that value through AIG Premier through Barrett Jackson Insurance. Nice looking car |
rick 918-S |
Mar 18 2015, 07:51 PM
Post
#13
|
Hey nice rack! -Celette Group: Members Posts: 20,463 Joined: 30-December 02 From: Now in Superior WI Member No.: 43 Region Association: Northstar Region |
Great to read your back on the road! I would say 60-80. You have the engine case. I really don't think an upgraded engine will be a negative. After all, we all desire more HP. (IMG:style_emoticons/default/aktion035.gif)
Here's why I say to be sure you protect the value. There are many ways to complete repairs as you have seen. Some take longer and produce a result that will actually restore the value as well as complete the repair. This can cost more. I'm not convinced a factory 6 at the prices they are commanding these days could ever really be considered a total loss. I think what totals the car is the owner running out of money during the repair process. Even chassis' like Sir Andy's are well worth repairing these days at these prices. |
Greg914-6GT |
Mar 18 2015, 08:36 PM
Post
#14
|
Member Group: Members Posts: 82 Joined: 18-June 14 From: Tampa, FL Member No.: 17,501 Region Association: South East States |
I use Hagerty on both my 914-6 race cars and think they are the best. Ask how much it would be to raise per $10k, then buy what you a an afford. I would stay away from Leland West, very arrogant on the phone. They don't think 914s are valuable.
|
Michael N |
Mar 18 2015, 08:43 PM
Post
#15
|
Certifiable Group: Members Posts: 1,426 Joined: 6-June 04 From: San Jose, Ca Member No.: 2,164 Region Association: Northern California |
I had had my car at $25k up until last Summer . I set the $25k back in 2006 when I bought the car. I increased it to $55k and the premium did not change that much with Hagerty. Excellence just posted 914 values in their latest issue. They had the 914-6 in good condition at $65k and $80k for an excellent one. Based on the pictures of your car you should be in that range. Try finding a car if you needed to replace yours. It would take that much money to do it in today's market and not be that easy to find one especially if you were partial to a specific color.
|
MJHanna |
Mar 19 2015, 06:31 AM
Post
#16
|
Does this 911 make my butt look big? Group: Members Posts: 805 Joined: 23-January 03 From: Lowry Crossing, Texas Member No.: 185 |
Another way to look at it is the configuration as it sits. What the parts are worth? Have you priced early engines? (IMG:style_emoticons/default/confused24.gif) Try to buy one out right for less the 20-30k. (IMG:style_emoticons/default/idea.gif) Try to rebuild one with good new parts… If you want to go back to the original engine please send the 68 engine my way. (IMG:style_emoticons/default/wub.gif)
|
vintage914racer |
Mar 19 2015, 07:02 AM
Post
#17
|
Member Group: Members Posts: 429 Joined: 28-December 03 From: Minneapolis, MN Member No.: 1,473 |
Another way to look at it is the configuration as it sits. What the parts are worth? Have you priced early engines? (IMG:style_emoticons/default/confused24.gif) Try to buy one out right for less the 20-30k. (IMG:style_emoticons/default/idea.gif) Try to rebuild one with good new parts… If you want to go back to the original engine please send the 68 engine my way. (IMG:style_emoticons/default/wub.gif) I agree. Early engines are bringing good money. I've actually tried to sell the 68s engine a couple times but buyers always back out. If I could find a buyer for it and be able to swing a fresh motor as a replacement I would go that route. |
rgalla9146 |
Mar 19 2015, 07:03 AM
Post
#18
|
Advanced Member Group: Members Posts: 4,559 Joined: 23-November 05 From: Paramus NJ Member No.: 5,176 Region Association: None |
Great discussion.
I'm up for renewal and I'm w/ Hagerty as well. ( and I wish I could reach into this picture and straighten out that "S" ) Attached thumbnail(s) |
914Next |
Mar 19 2015, 07:51 AM
Post
#19
|
Senior Member Group: Members Posts: 699 Joined: 28-July 14 From: Ephraim Wisconsin Member No.: 17,695 Region Association: Upper MidWest |
No intention to hijack this thread. Sounds like many of you are very satisfied with Haggerty. I'll also, however, throw in a good word for Jack Larue, Larue insurance. He was recommended to me by others on forums for my other cars. I insure five collector cars with them. Great service. Insured through Classic Collectors for Agreed Value. I just raised the AV on my '96 low mileage Twin Turbo from $115k to $160k with a simple email. They also have good mileage options. Most of mine are at 1,200 miles but I have one at 6,000 miles since my wife likes to drive hers bit more during the summer.
As for the 914-6….I think I missed my window last september. Bid on a very original 6 on ebay but backed off when it hit $75k. Would love to pay that now! I did find my '73 2.0 which is in superb original condition and we love it….but its not a 6. |
Bulldog9 |
Mar 19 2015, 09:18 AM
Post
#20
|
Senior Member Group: Members Posts: 705 Joined: 21-August 13 From: United States Member No.: 16,283 Region Association: MidAtlantic Region |
Good reading here https://www.lelandwest.com/stated-value-vs-...r-insurance.cfm I am also trying to figure out how to insure my in-process conversion. I am about to tear it apart, and it will most likely be off the road for a year or two. Essentially a pile of expensive parts in my garage. During the restoration, #770 is covered by my homeowners policy. Boxes of parts......... The chassis was questionable, but they approved it. Talk to your homeowners/renters, take pics, document BEFORE and you are good to go. At least with my insurance company. |
Lo-Fi Version | Time is now: 20th May 2024 - 10:11 PM |
All rights reserved 914World.com © since 2002 |
914World.com is the fastest growing online 914 community! We have it all, classifieds, events, forums, vendors, parts, autocross, racing, technical articles, events calendar, newsletter, restoration, gallery, archives, history and more for your Porsche 914 ... |