I just switched Insurance companies as my former company didn't want to insure my 914-6 for more than $25k.

I went with Heacock Classic as they were very willing to put the value at $50k. The person I deal with has a 914-6 racecar (F/S in the classifieds)

As a courtesy I called my existing company to let them know I would not be renewing. The girl asked me why and I told it was because of the valuation. She asked what kind of car I had ( after I had given her my account# and she had it on her computer screen). I told her a 914-6 and then she told me my car wasn't worth $25k - I hung up on her.

T.C.

We found that when trying to insure "Buttercup", (1973 1.7) for a fixed value, several insurance companies were willing to do this. What they weren't willing to do was allow me to drive it whenever I wanted. Even though I have another car, my "daily driver", I would not really be insured for that trip to Dairy Queen, or out for dinner in Buttercup. One said they would cover such events, but when my husband diligently read the fine print on the policy, he discovered we would NOT be covered. It got really complicated, and frustrating. My point is, read the fine print on the policy itself (don't take their verbal representation) so that you don't have any surprises, or court dates, if you would ever have a claim.

Now that I'm back driving the 914 daily, I switched from Hagerty to my main policy with AAA, and was pleasantly surprised to find that the latter is only ~$40 more a month. $63/mo for comprehensive + collision (but no glass coverage, at my choosing), with $1,000 deductible. $27K stated value for a '70 914-6. A '69 911, by comparison (same coverage), is $104 - ouch. AAA accepted my stated valuation without fuss - I think I was on the phone less than 5 minutes from start to finish. Good experience and good rates (I think), so I thought I'd share.

Maybe it's just the terminology, but with insurance, terminology is everything. (They have different interpretations for lots of words you or I think we know - like 'fair' 'market' and 'value' ...

However - 'stated value' is pointless. You need 'agreed value.' 'Stated value' represents how much they'll take from you in premiums. 'Agreed value' represents how much they're going to give back in case of a claim.

You can state your car is worth $100k and they're happy to take your money on that basis. Until _they_ say your car is worth $100k you're going to be starting from scratch in the event of a claim. And if it's not in writing, it's just fantasyland...

AAA is horrible at paying out claims, a real rip off. I have had enough of their lies and unethical bussniess practices to avoid them at all costs.

wait till you have a legitimate claim, and see how they back or try to back out of paying you. dishonest bastards AAA is! (PS thats a pretty high premiim your paying, no bargin there) bastard crooks!

The terminology mix-up is entirely my fault. "Agreed value" is what I meant then. $27K is the max they will pay on the vehicle. It's in writing. I've been with them for many years and have always gotten good service, so hopefully it'll stay that way.

Bummer you've had such a bad experience with them. I've been with AAA for as long as I can remember. Have only had 1 claim, and it went smoothly. I know AAA has their own insurance, but they also shop others for their customers (in my case, it went out of house). Maybe I was just lucky.

I don't know where you're at, but here, $63 is a good deal for comprehensive, at least in my case. I shopped around and didn't find better. There are plenty of factors that go into a premium, so you can't really make a conclusion about value without knowing things like driving record, credit score, age, specific locality, etc etc. Like I said, in my case (darn speeding ticket!), it was a good deal. Glad you're doing better. If you don't mind me asking: How much are you paying to insure your -6 comprehensively, and at what agreed-to value?

Never had problem with a claim with AAA. I've had lots of them in the past. Even had a total loss and a car stolen and stripped. Within 3 days I always had a check minus the deductible. I have State Farm now due to better umbrella coverage.

$216 for six months for my most expenscive car, a 356C with Safeco Co., no limiitaiton on drving, 300K policy, $50 deductable.

I do have the multicar discount, with Safeco. no tickets,

and have a couple of my low yearly miles classic rides with hagerty Co, that is about $120 per year

TC are you insuring just the 914 or your daily driver also ? Any limits on driving ? Is there an agent in central FL. ? I have State Farm for the house and all the cars, for the most part I'm happy with them but I know I could be spending less.

I think i am paying lees than $5 a month for my 914! Of course it is inoperable, and not registered, just insured against..... Im not sure what?

Rick, Heacock Classic only does Antique/Classic cars. They are not the cheapest in the business, but I like dealing with car people that understand what you are talking about. It was the point I was trying to make in my original post - Gary @ Heacock knows cars and that stupid chick at my present company probably carpools to work.

BTW, Heacock is based in Lakeland, FL ( another reason to deal with them - they are local) and sponsor the Lake Mirror Classic - one of the nicest car shows anywhere.

http://www.914world.com/bbs2/index.php?sho...=100203&hl=

I will be organizing a 914 group @ the Lake Mirror Classic this year - can you imagine if we can get 1 or both of smg914s, the Brumos Champ 6, URY's lightweight, my car, Steve Hermans, yours and Brian's (lol). Sounds like a party to me.

T.C.

Sorry, T.C., didn't mean to quasi-hijack up above. I just wanted to share info that others may benefit from, as I didn't know myself until recently and wished I had found out sooner. The last time I inquired about making the 914 my primary driver with comprehensive coverage it was a bit more expensive, so I was pleasantly surprised this time.

What really sucks is how my rate went up a ridiculous amount when I moved into my current neighborhood. 10 minutes out, it was close to 40% less.

Re: your experience w/ the gal - it always amazes me that customer service is so often relegated to the bottom rung when it should be the opposite. How does the wisdom go? Please one customer and s/he may tell a couple friends...tick off one, and s/he will tell hundreds? Well, I suppose it's just business Darwinism... Glad you found a better company.

The only way Brians car will make it is if I put it on my trailer . I am interested in attending is it in the Fall ? So Heacock would insure my 83 SC and the 914 only ? I went on their website and it looks like they have fairly strict rules in regards to driving ?

Duc, Hijack all you want. I started the thread to vent a little.




The Lake Mirror Classic is Oct 15th. I need the Strattons to get hoppin.

As far as Heacock's rules, they are very similiar to other classics insurors - car must be garaged and driving is pleasure only.

T.C.

TC - as long as you're venting, how about identifying who your present/forrmer auto insurance company was - as a warning to us all!!??

I had a quote from AAA on my 73 2.0 when done with the resto for a $25k agreed/stated value (not sure of terminolgy since no policy yet as a work in progress) for $215 per year in addition to our other cars, but they want to inspect not only the cat, but also the garage where it will be kept! ... but then, this is California with differing laws! Hagarty on-line quote was about the same btw.

We need a company that gives "car on jackstands discounts"....

This is always a big topic in 356-land.
IIRC Hagarty will insure a restoration and is familiar with the sliding-scale process where you start with little and the project gains value as more work is done. (Be prepared to provide photographs and invoices for work done, which you should be keeping for your records anyway...)

The 'not paying for much' non-op coverage is basically a 'carrying charge' to keep it on the books. I have my 911 in non-op status with my insurance, because continuous insurance coverage is a requirement of registration, and I do not want to go through the hassle of re-registering the car.

It may also cover you for theft, and yes, I know of cases where Porsches have been snatched from locked garages.

If the vehicle is off-premises when the loss occurs - i.e. frame shop, paint shop, upholsterer - it's bound to get sticky. As is loss in your own garage (e.g. fire) it can get complicated especially if your car and homeowners' coverage have different carriers.

I had some friends who lost their home in the Oakland Hills fire (their washer and dryer were a puddle of steel about 1/4" deep). They also had a Cessna under restoration and while the airframe was safely in a hangar, the instrument panel was on the workbench as they subbed rebuilds on the individual instruments. Their aircraft insurance didn't cover the loss because the panel wasn't in the airplane. The homeowners' insurance specifically excluded anything aviation-related. They were out a _lot_ of money having to replace a full IFR-certified panel.

If your car is really non-operational it may be worth a call to your agency to have the liability (the lion's share of most policies) and collision coverage suspended. Fire, theft, and maybe comprehensive if you have it you should keep, IMO.

My old (existing for a few days) company wasn't bad and was cheaper than my new company. No need to bash them. I switched because of the valuation and being able to deal with car-people/friends.

T.C.

Hey TC - it's not bashing, just a warning to all that a specific insurance company limits or does not do true stated or agreed value policies, but rather set a maximum that they'll insure based upon some market value that they're looking at (e.g.: $25k for your 914/6), which btw doesn't seem like even a correct value. That's the whole idea behind "Consumer Reports" magazine/website - public info.!

The insurance companies have far more market power than we consumers, & the only way for us to fight back is to know which ones are doing what, then "vote with our feet" - as you've done!

Back in the 70's & 80's it was Farmers & State Farm who gave us Porsche owners problems, & I'm guessing it might be one of them with you????

My house insurance agent with State Farm keeps trying to get me to switch from AAA, but their rates are higher, but AAA won't insure our older historic 1921 Craftsman home on their plan - so I'm stuck with 2 companies!

So .... ???????

My wife is a licensed Insurance agent (Licensed for Oregon, Idaho, California and nevada) she works for a independent agent and she says if you have a vehicle that you are trying to insure as a classic car you should really look at your policy to see what the AGREED value is. Also, you really need to view the policy to see "if you were to be at a total loss" how does the policy pay? She states that the total loss pay out is the main thing to know. Read your policy to know that what the agent says, is what the company is actually going to do. Most people assume that they have a certain type of coverage until there is a total loss and then they find out the company will only pay actual cash value.

If I had a car that was insured as a "Classic car", I would go with Hagerty. They do use agreed value but there are limitations.

My former Ins Co was Condon & Skelly - part of MetLife.

My new Company is Heacock Classics.

I previously had Zurich American - they paid out every cent of our agreed value policy of $15,000 on a restored 73 914 2.0 in 1997

T.C.

Thanx TC! Good to know about Zurich!

I don't think C&S is approved for CA, but Met probably has another affiliate here to watch. I wanted to check out Heacock (whom I'd seen in Pano, etc.), Haggerty, AAA & a few others on the agreed value policies available here in CA.

I'd like to know more about that growing value with resto progress "jackstands" policy somebody mentioned here! Maybe Montoya's wife knows about that here in CA, being a registered agent here!!??

I'm in a Catch 22" until I get it running again, because, mine has been on blocks in my garage since 85, but the non-op fell out after DMV failed to send me a renewal in 92/93 & then the jerks wanted $1200+ in penalties for a week late when I called them about it (renews 12/26 but I caught it 12/29 +/-), plus to bring it in for a new smog check - even after I told them it hadn't been running since 86 smog!

Now I think I still have to take it in with my paperwork to get it back to non-op for an inspection - even if the smog would be waived - which it may not because they'd have no way of knowing if it still has the original smog eqpt. still on as technically required to be exempt here. God knows what they'd want in fees/etc. after being an unregistered hulk for 18 years - esp. with registration fees up here due to the budget shortfall!

Anyhoooo - if I could get the work in progress insured as it sits here, body shop tbd & my mechanic's shop - then I'd rest easier.

I have State Farm. I've had it for many years. A few years ago I wrecked a 71 six. Single car accident, I had no idea what happened. Later I found that the throttle had stuck and I looped and wrecked the car before I knew what was happening. The insurance story is good news/bad news. I had the car insured for 25K. State Farm totaled it, which I was going to fight until they offered me 30K for it, and sold it back to me for $600. It had a 3.0 and a 915 in it. I couldn't turn down the deal.

My insurance rates were not increased because I was a long time customer.

I've had several agents over the years, fortunately most of them were car folks. Unfortunately my most recent agent recently died unexpectedly. I need to find a new SF agent who likes cars.

Oh, the six has been completely restored by another Porsche nut.