Six conversion value for insurance? Options

[Mark Henry]

Appraised, insurance, build receipts and selling price are all different values.
I want it insured enough so that I could easily buy a finished comparable 914/6 conversion, I'm not into starting another project.

[sharper]

Sounds like I have mine under insured compared to most everyone else. I've got it insured for $20k with Hagerty.

[mzapisek]

I just bumped mine up from 35K to 60K with Hagerty. No questions asked cost another $140 a year.

[dwelle]

i have a thread going over on pelican regarding valuation of my -6 conversion for insurance purposes. it dawned on me the good folks over here would be a great resource, so i'm reviving this thread. i really need to spend more time over here.

thoughts are appreciated...

http://forums.pelicanparts.com/porsche-mar...14-6-value.html

[thelogo]

Agreed value is the way .

Insurance co dont give a damn about

Really nice 6 conversion vs run of the mill conversions

They dont really know these cars as its not a 911
So you are literally educating the insurance co. on the value as you see it . not as they do (IMG:style_emoticons/default/yellowsleep[1].gif)

To them its just a modified volkswagen

[horizontally-opposed]

^ Agree with those who say agreed value is the way to go, which reminds me I need to review my coverage.

But one example of a six conversion that sticks did well is this car—it has a very tame engine but was presented well and seemed to check the visual boxes for a lot of people…more so than many of the modified 914s that come to market.
https://bringatrailer.com/listing/1975-porsche-914-6-gt/

There have been others that went for less, both on BaT and elsewhere.

As to agreed value, the poles would appear to be a realistic price when selling and a realistic price to build another one, if either are desirable scenarios. It's hard to imagine no 914 in the picture, but if mine were gone tomorrow, its replacement might not be a 914 (because my particular car is sentimental to me), so the price of something that might replace it is another marker to consider—and in my case lower than the cost to build another one. Just my .02...

[Coondog]

Your policy cost is based on the value that you state backed up with your build receipts. Thinking your in the 100K plus neighborhood.

American Collectors Car Ins. Policy’s are based on stated value.

[rgalla9146]

Hagerty agreed to 50K on my conversion without any question.
The rep said 'no problem' we've seen standard 1975s sell for 50k
IF I did have a claim I doubt I'd have to show receipts.

[mepstein]

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.

[Cairo94507]

I agree agreed upon value is the only way to go. When I spoke with Haggerty they said they would insure my car for $135K w/o having to discuss it further. Once I have the car home I will speak with them again and present documentation and photos and see what they say.

I just know if some dipshit 16-year-old in a raised 4X4 or 600 HP Mustang is driving down the road while texting, listening to music with headphones on while drinking a McFlurry and chatting with his friends and rear ends my Six, I want to have no issues and be able to have it repaired perfectly by Kent and the rest of the Justice League. (IMG:style_emoticons/default/beerchug.gif)

[Mark Henry]

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.

(IMG:style_emoticons/default/agree.gif)
I built my twin plug 3.0 for just over $10K, mostly through wheeling and dealing plus the Canadian/US dollar was at par when I bought most of the parts. Took me almost 8 years.
If you come to my shop today I doubt if I could do similar for less than $30K and that's not including most of the rest of the stuff needed to get it in the 914.

[mepstein]

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.

(IMG:style_emoticons/default/agree.gif)
I built my twin plug 3.0 for just over $10K, mostly through wheeling and dealing plus the Canadian/US dollar was at par when I bought most of the parts. Took me almost 8 years.
If you come to my shop today I doubt if I could do similar for less than $30K and that's not including most of the rest of the stuff needed to get it in the 914.

A shop in Philly PA charged our customer $22k to rebuild a 2.7 and it ran like crap until we sent out the WUR & FD to Tony Donato for a real rebuild.

I just insured one of my motorcycles for $16k. I have about 6 into it and market value is about 12 but just because my guy restored and painted the gas tank for 400 (hand painted pin stripes) doesn’t mean it’s not a $1,500 job.

[Mark Henry]

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.

(IMG:style_emoticons/default/agree.gif)
I built my twin plug 3.0 for just over $10K, mostly through wheeling and dealing plus the Canadian/US dollar was at par when I bought most of the parts. Took me almost 8 years.
If you come to my shop today I doubt if I could do similar for less than $30K and that's not including most of the rest of the stuff needed to get it in the 914.

A shop in Philly PA charged our customer $22k to rebuild a 2.7 and it ran like crap until we sent out the WUR & FD to Tony Donato for a real rebuild.

I just insured one of my motorcycles for $16k. I have about 6 into it and market value is about 12 but just because my guy restored and painted the gas tank for 400 (hand painted pin stripes) doesn’t mean it’s not a $1,500 job.

I've pretty well stopped building long blocks, I have to install, tune, sort and test drive the engines I build to be sure it's done right.