valuation for insurance, 3.2 in a 1972 Options

[worn]

I think I asked it before but now it is time to pull the trigger cause the car is coming off jack stands. 3.2 conversion with new floor and firewall panels, no rust for real and down to bare metal. Alu 911S brakes up front, full 911 suspension with 5 lugs. Added the wiper mod for intermittent and electric pump. New paint and glass. rebuilt 901 gearbox with tall 4th and 5th. Steel fuel lines, new brake lines and 19 mm master. Etcetera....

What would it cost me to find another like it? Well, I have my own personal tweaks, but I would accept similar in nice condition. Ball park? Cause that is the goal of the insurance - replacement with something similar.
Thanks and please chime in for me.

[GaroldShaffer]

Are you going with collector insurance? I have my 73 steel flared, caged, 2.7L big 4, with 80 911 front suspension and other mods insured with Haggerty for $28K. Just paid my bill for the year. It came to $333.

[worn]

Are you going with collector insurance? I have my 73 steel flared, caged, 2.7L big 4, with 80 911 front suspension and other mods insured with Haggerty for $28K. Just paid my bill for the year. It came to $333.

Yep - Hagerty. Just what I was looking for. Think you could find one for that money? Did you negotiate that with Hagerty?

[Tom_T]

Do yourself a favor & get a pro appraisal by somebody familiar with 914s, then have it updated every few years, since the values tend to go up with collector cars over time - not depreciate as with new & late model ones (a reputable appraiser should tell you if you don't need to update yet - esp. if it's the same appraiser).

Also have your receipts & pix of work to give to the appraiser to substantiate the work.

BTW - Hagerty will also insure your parts stash on your policy, so receipts will value those too.

If you plan to drive it more than a little, then Grundy Leland West & maybe others will insure you for that too (IIRC Hagerty limits you to 3000 mi/yr or so & no commuting/DD).

IIRC Hagerty & most will want to inspect your garage as well (or wherever it will be parks/stored).

Good Luck & enjoy (IMG:style_emoticons/default/driving.gif)
Tom
///////

[GaroldShaffer]

Are you going with collector insurance? I have my 73 steel flared, caged, 2.7L big 4, with 80 911 front suspension and other mods insured with Haggerty for $28K. Just paid my bill for the year. It came to $333.

Yep - Hagerty. Just what I was looking for. Think you could find one for that money? Did you negotiate that with Hagerty?

Yes I do. I bought my 73 in 2013 as it sits for $4k, yes $4k. It hadn't ran in 5yrs. I spent a weekend messing with it and got it running & driving. Picture below the day I brought it home.

Hagerty will want pictures from all angles and well as pictures of where it will be kept. I have had them for 13+ yrs (had my 70 with them also). We did discuss type of driving I would do with it and such, but found them to very cool with what I would do.

[TheCabinetmaker]

Hagerty asked me if I ever drive it to work. I said yes because that's where my lift is and where I work on it. They said no to that and my one car garage. I went elsewhere.

[Chris914n6]

I've been working on my own valuation. Due to all the non stock stuff, I've been pricing it line item. Current replacement cost of parts (911 susp, engine swap, rebuilt tall trans, etc) plus value of an equally good chassis (bought or built), plus labor (mostly mine) to make the replacement car the same as the current car.
It's kinda tough as I've done everything, so I've been getting shop estimates on what a redone interior would cost, painting, rust repair etc.
I'm up to $20k as of today, but I wouldn't sell it for double that, just too much of my time into it.

[worn]

I've been working on my own valuation. Due to all the non stock stuff, I've been pricing it line item. Current replacement cost of parts (911 susp, engine swap, rebuilt tall trans, etc) plus value of an equally good chassis (bought or built), plus labor (mostly mine) to make the replacement car the same as the current car.
It's kinda tough as I've done everything, so I've been getting shop estimates on what a redone interior would cost, painting, rust repair etc.
I'm up to $20k as of today, but I wouldn't sell it for double that, just too much of my time into it.

Well, that's the point. If mine were gone I would want to buy yours. (IMG:style_emoticons/default/smile.gif) I did mine on the cheap which means I spent that much more time stalking bargains and fabricating. Sure do not want to go through all that again.

[wndsnd]

My 73 with a 1.7 was insured with Haggerty for 15k.

When I finished my 2.7 conversion they easily went to $50k but the policy went from $250 to $750

Grundy came in with $35k and $350.00

[somd914]

Hagerty asked me if I ever drive it to work. I said yes because that's where my lift is and where I work on it. They said no to that and my one car garage. I went elsewhere.

Not sure if it is a state issue or policies have changed... My Hagerty policy allows personal use. Also a major player for us were drivers under 25 - Hagarty is the only classic insurer I've found who will allow that - can't see not letting our kids drive as cars are a major past time for them and spend many hours helping me in the garage.

As for value, agree talk to an appraiser and also discuss it with potential insurers. As for me with agreed value policies, I also like to factor in purchase costs (taxes, title, tags, etc).

[theleschyouknow]

got my car a couple years ago for +/- 10k (73 2.0 driver) insured with hagerty i think about $250/yr or thereabouts replacement value of 18k I sent a couple pics of my car and my garage and it was all handled over the phone/web
I'm happy
reminds me think my premium is about due
(IMG:style_emoticons/default/beerchug.gif)
cjl

[worn]

got my car a couple years ago for +/- 10k (73 2.0 driver) insured with hagerty i think about $250/yr or thereabouts replacement value of 18k I sent a couple pics of my car and my garage and it was all handled over the phone/web
I'm happy
reminds me think my premium is about due
(IMG:style_emoticons/default/beerchug.gif)
cjl

I am willing to pay the cost and I think Hagerty has treated me well with three flatbed truck rides in about 10 years. I am really asking if you guys with nice six conversions had to buy or sell what would you expect the figure to be? I am thinking it might take 50 grand to get you to part with your car.

[john77]

I had mine appraised when I bought it 2.5 years ago at $28K and the market has risen quite a bit since then. Just looking at the for sale section here and seeing other cars that have sold I'd say you're looking at 40-50K at least for a good six conversion.

My insurance company is ANPAC. They'll cover you to drive it whenever, wherever, as long as it's garaged and you have another 'daily.' The only downside, if you call it that, is that they insist on a professional appraisal to give you an agreed value.

[Cairo94507]

$40K seems pretty reasonable.

I mean just a freshened 3.2, including the engine cost, is going to be in the $15-18K range if everything is in good shape to being with and you don't get crazy.

A decent tub is likely going to be $10K with some rust repair and paint. Then figure $10-15K for all the rest of the little stuff you collect over time to complete a car.

That's why when these conversions pop up with a 3.2, 5 lugs Fuchs, some suspension work, brakes, rust repair and paint done for $30-35K that is a steal.

I have not decided who is going to cover my Six, but it will be stated value coverage of $125K to begin with. I do not expect that to go down from there. I have already spoken with Haggerty and Grundy and they won't even consider insuring it until it is a rolling chassis with an engine in it. We aren't there yet unfortunately, so that makes me a little nervous. Rest assured, once we hit that point in the build, it will be covered.

[Catorse]

haggling with Hagerty now, asking for 85K insured on my 2.7 build. Mind you, EVERYTHING in this car is new. Paint, built 2.7, webers, alcantara interior, 911 suspension, big brakes, the works. Almost every item out of the Tangerine, 914rubber, and Rebel Racing 914 catalog.

I have 62K in receipts, labor is all mine for the build. At first, hagerty shat a twinkie since this is not a "real" 6. Then after they saw the pics they were OK with it.

[PanelBilly]

Back when I was building to he car Hagerty covered it as a project.

[larryM]

parts plus labor is almost always more than cash market value on our cars

my rule of thumb is that any conversion is only worth the sum of the value of the separate parts on the classified markets - our labor is free cuz it is a hobby

that's the recurring problem with conversions, and many resto's for that matter

if you can show a list of similar cars that actually sold at cash auctions - you may be able to use the average as your claimed value

many states and other valuation agencies actually do look at the auction sales for establishing value for registration - Nevada, for one example

your insurer will for-sure use that public cash-sale-value yardstick no matter what you spent building it

that's a tough pill, i know

as the lady of the house always says "it's just an e-ticket at disneyland - fun while it lasted"

I've been working on my own valuation. Due to all the non stock stuff, I've been pricing it line item. Current replacement cost of parts (911 susp, engine swap, rebuilt tall trans, etc) plus value of an equally good chassis (bought or built), plus labor (mostly mine) to make the replacement car the same as the current car.
It's kinda tough as I've done everything, so I've been getting shop estimates on what a redone interior would cost, painting, rust repair etc.
I'm up to $20k as of today, but I wouldn't sell it for double that, just too much of my time into it.