Insurance value?, Insurance Options

[DTMLGND]

Hi!
After a few years of on/off working on getting my '74 914 2.0 back on the road I'm ready to insure it for proper value.
I'd like to get an idea from anyone that cares to offer who and what figures they are going with currently.
Here's my car and general info:
1974 2.0 FI
Stock motor and transmission(miles unknown)
Paragon Headers
Modified Suspension
Stock 2L Fuchs
Roll bar+harnesses
CA Car, mostly rust free, Paint and body is straight, but patina'd.

Driven weekends only, maybe car shows, Auto-x.

Greatly appreciated.



Paul

[flipb]

I've got a '74 2.0 in condition not nearly as nice as yours... 2056cc but carbs, imperfect body, imperfect paint. Mine's insured for $16K. Might raise it to $18K at the renewal this year. The number that comes to mind for yours is $24K. But I don't have much science behind that.

[mlindner]

Yup Paul, I'm with Flip 20 to $25,000. and maybe a little higher. Mark

[Coondog]

30k.

[Minerva's 914]

I worked with Hagerty to establish a value for my original owner 1973 2.0, stock with original FI, engine rebuild and restored paint, interior, etc.. I added up my invoices and submitted all with photos and they suggested an agreed value of $34,800. Given that my restoration cost me over $32,000 it seemed fair to me but as they say, your milage may differ.

[Cairo94507]

I agree with Coondog on this one- $30K is what I would shoot for.

My Six is insured by Grundy for $125K and they said, after seeing the restoration photos before, during and after, plus representation of the receipts, they said they would go $135K with no issues at all. (IMG:style_emoticons/default/beerchug.gif)

[Coondog]

I agree with Coondog on this one- $30K is what I would shoot for.

My Six is insured by Grundy for $125K and they said, after seeing the restoration photos before, during and after, plus representation of the receipts, they said they would go $135K with no issues at all. (IMG:style_emoticons/default/beerchug.gif)

We think the same, my 914 is insured for 125k

[StratPlayer]

Just had mine boosted to 30K

[DTMLGND]

I've got a '74 2.0 in condition not nearly as nice as yours... 2056cc but carbs, imperfect body, imperfect paint. Mine's insured for $16K. Might raise it to $18K at the renewal this year. The number that comes to mind for yours is $24K. But I don't have much science behind that.

Thanks Flipb (IMG:style_emoticons/default/thumb3d.gif) ! I don't know about it being as nice as yours, but mine is solid driver with much to refurbish. The pictures are decent iphone glamour shots that don't show the faded paint as much. At least the body is straight and pretty much everything is there.

Yup Paul, I'm with Flip 20 to $25,000. and maybe a little higher. Mark
Thank you Mark (IMG:style_emoticons/default/smile.gif)

30k.
Coolm thanks @Coondog (IMG:style_emoticons/default/cool.gif)

I worked with Hagerty to establish a value for my original owner 1973 2.0, stock with original FI, engine rebuild and restored paint, interior, etc.. I added up my invoices and submitted all with photos and they suggested an agreed value of $34,800. Given that my restoration cost me over $32,000 it seemed fair to me but as they say, your milage may differ.


Wow (IMG:style_emoticons/default/clap56.gif) That is beautiful! I'd love to fully restore mine, but for the moment my other toys need love in some way or another and it's hard to spread it (IMG:style_emoticons/default/laugh.gif)
Thanks @Minerva 914 !

I agree with Coondog on this one- $30K is what I would shoot for.
Appreciate your input Cairo94507 (IMG:style_emoticons/default/biggrin.gif)

My Six is insured by Grundy for $125K and they said, after seeing the restoration photos before, during and after, plus representation of the receipts, they said they would go $135K with no issues at all. (IMG:style_emoticons/default/beerchug.gif)

Nice! Must be perfect (IMG:style_emoticons/default/smilie_pokal.gif)

Just had mine boosted to 30K

Awesome, thanks @StratPlayer (IMG:style_emoticons/default/smile.gif)
I imagine it's an Agreed Value, mind if I ask who your insurer is? Was an appraisal required?

[Cairo94507]

No appraisal required for mine. I did however submit plenty of photos to support the value and a narrative describing what was done in the restoration. Also, I was with Haggerty prior to Grundy and no appraisal required for them either. With them I was at $120K. (IMG:style_emoticons/default/beerchug.gif)

[Racer]

Depending on the carrier, the rollbar and racing uses could cause some challenges. It seems even AX coverage is debatable depending on the state of coverage and could void the policy if something happens.

I would say $20-25k value should be agreeable with a good firm. And recall, that the amount you pay is based on the coverage level desired and your use pattern. Many specialty plans will require the car to not be a primary use vehicle. maybe it has to be garaged (vs sitting in your driveway) etc. Limited mileage possibly too. FWIW, I have Allstate.. and they offered to get me a plan through Hagerty. So, check with your regular provider as they may subcontract out to a specialty firm for the actual coverage

Hagerty is well known because they are very good at settling claims and they accommodate cars from 100% original to modified examples. There are other providers out there (Leland West and Grundy come to mind)

[RARE 6]

No appraisal required for mine. I did however submit plenty of photos to support the value and a narrative describing what was done in the restoration. Also, I was with Haggerty prior to Grundy and no appraisal required for them either. With them I was at $120K. (IMG:style_emoticons/default/beerchug.gif)

My -6 is insured for agreed value with Leland West. No appraisal or negotiation required, just a series of pictures. No issues the times I've asked to increase the value at renewal time.

[Jamie]

I've had a real dilemma attempting to get a realistic insurance valuation of my almost original condition 73 1.7L. New body paint only thing not original, "Dad's Mistress" even has original L99A factory paint on the battery tray! Haven't pursued matter beyond my regular local insurance agent, and currently have a declared value of of $35K. (IMG:style_emoticons/default/shades.gif)

[914_7T3]

I think it really depends on how much you would like to come out with in the event of a total loss. That is why agreed value works so well.

This is Hagerty's current valuations for a '73 2.0

FWIW, my car is insured for $65k and I am sure they would accept a higer annual premium for a higher agreed valiue.

[Racer]

make sure you have the right language

Because most cars begin depreciating the moment they’re driven off the lot, standard insurance companies insure your cars accordingly. They will adjust your payout based on what the car would be worth the day of the accident (prior to any damage occurring), instead of what you originally paid. This is referred to as a vehicle’s Actual Cash Value.

Stated Value is coverage that reflects an amount that is “stated” at the onset of the policy. You tell your insurer what your car is worth (with proper documentation) and it is insured for that amount. The caveat here, however, is that the insurance company can choose to pay you either the Stated Value or the Actual Cash Value, whichever is less.

Alternatively, Agreed Value , coverage primarily offered by specialty insurers, is based on the proven value of your car as determined by you and the insurance company, according to appraisals, photos, or other relevant documentation. With Agreed Value coverage, the insurance company will guarantee that they will pay this agreed-upon value in the event of a covered total loss.

[mb911]

What are people seeing as average costs to insure their cars? I need to do that now that it is all titled correctly and nearing completion. I would drive less then 2000 miles a year likely as it would be all short runs around town etc

[mepstein]

What are people seeing as average costs to insure their cars? I need to do that now that it is all titled correctly and nearing completion. I would drive less then 2000 miles a year likely as it would be all short runs around town etc

Mine is $140 for the first 914 and $70 for the second 914 - classic car insurance.

[914Sixer]

LOL at Hagerty's chart. +10 % for factory air conditioning.

[mate914]

I too would like to know.
Can someone with Hagerty insurance and a real 914/6 please provide yearly cost?

[eric9144]

Haggerty will insure a 2.0 for a stated value in the mid $40k range without batting an eye, remember the agreed value is truly insurance for your piece of mind and not "what you can sell for right now" so go big to make sure in the event some thing happens or it gets stolen etc you're not hanging yourself out.

My 6 is insured with them with a $195k value (IMG:style_emoticons/default/beerchug.gif)