QUOTE(kbrunk1 @ Nov 1 2012, 06:43 PM)
Your health is the most important, but what insurance value do you have listed for your car?
Does that really matter..... I guess it is just compariables.
I know folks think a certain $ , but ??
Reason I am asking is that I recently got insurance and had to tell them a price.
Does that really mean anything?
Brunk,
The insurance value does matter, as it's what the insurance company charges you for, and on what your claim is based.
If you fix up your 914 - or any vehicle - then get it into the insurance folks for pix & give them copies of the bills to substantiate or offset what they'll usually do to discount or depreciate the claim payment for aging/use from date of purchase - even though older vintage/collector cars go up in value with time, vs. new cars depreciating for the first 10-20 years!
If you don't use as a DD or regular use over 3-5000 mi/yr (varies by insurer/policy type) for your 914 or other vintage/classic cars (generally over 25 years old by most insurance companies), then you should try to get an "Agreed Value" policy from Hagerty, Heacock & those guys - as it pays you a check for that amount for a total loss - no questions asked.
PS - AAA or ACSC out here in SoCal will insure Porsches up to 1989 MY under their Classics policy, but it comes under an "Exception" from their standard no newer than 1972 MY Classic Car policy, so you'll have to ask them to look that up, or ask for a supervisor or manager to get to that exception (otherwise you get the wrong answer). I haven't tried my 914 with them because it's not restored nor roadable yet, so I cannot speak tp them for that type of policy yet, but they've been pretty good with some minor fender bender claims on our `85 325e & `88 Westy under their regular car insurance.
Next best is a "Stated Value" which can still be reduced/depreciated by the insurer.
And least best, but what many on here who use their 914s as DDs or over the 3-5000 mi/yr limit - is good ole regular car insurance.
But on any of them - go with low deductibles, & give them full comps of recent sales, appraisal if available (agreed & stated value may require this) & receipts for work, pix of the car & update it all every year or two - in order to keep from getting low balled on any claims.
When I had the gal whack my car as seen in my prior post above (she also mashed the front by pushing it forward 2 ft into a concrete wall/column), their insurance tried to low ball me for $3500. So I had to go out & get comps, I had all my receipts for $6500+ in rolling resto costs 1980-83 (the 914 was "Cherry" when it was hit in the UCLA parking structure), and threaten to take it to my lawyer - before a Mgr. agreed to pay the $6400 claim in full!
So records & comps are your friend - even if you're just photo documenting the work you've done yourself - then you can get a shop or two to give you their price for your own work for insurance claim purposes, then you can use them or yourself to repair any damage. Most shops will do that for an insurance claim, but some will charge a modest fee for their time.
Hope this is helpful to Chris, kbrunk & others out there too.
BTW - I used the insurance money to lease/buy my current DD BMW 325e, because my wife said we needed a "family car" with more seats, ergo the 914 went in the garage on blocks since then, until I started the slow resto/prep process in 2009/10 after the kids were grown & gone. That's why she still wears her battle scars!
Cheers!
Tom
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