Just received my policy application back from Grundy with a letter stating that they will not insure a 914 for more than $5,000... wtf? Even State Farm will let me insure it as a "parade vehicle" valued at $20,000.

So, does anyone here have a 914 insured with a collector type insurance company for some real $$$? Ideally I would like to have at least $25,000 - $35,000 coverage or more on this car in case of a total loss and I would like to find a better deal than State Farm is giving me.

My 914 is fully restored and very upgraded (2270 Type IV, Carrera suspension and brakes, fiberglass decklids and bumpers, etc., etc.). The car has collected a few awards and is entered in several upcoming car shows.

I'm aware of the other companmies out there, just looking for any real experiences with these companies from within the 914 community. All resposnes appreciated.

I got a quote from Hagerty: $590 for $40k.

I haven't bound the policy yet, but I intend to next week.

I'm with Haggerty also. I think it's for 25k but I don't remember the premium, too lazy to go look it up.
And in case anyone from Haggerty is watching, that's not the car in my avatar that's insured.

I just got coverage with Hagarty and they were very reasonable, $90.00 for the year. I'm not insuring for near what you are but I'm sure they will go that high.

I have had my Corvettes with Haggerty for several years. Very good company. But Classic Insurance does have its restrictions. You cannot drive the car to work or school, period. None never. Car must be stored in a locked garage. and so on.

If these restrictions work for you the this can be a good deal. If they don't work then it is back to standard insurance.

I would think that for the value you want that you will need documentation and apprisal to back up that value.

tom...

Hagerty $12,000 for $129/yr. Their towing and roadside service is great included with the $129. Used it on the Casa Grande run.

I just signed up with Hagerty covering 10K for $98 - a year! Like the thread mentions - it does have it's restrictions.

It's easy too - you can do it on line or by phone.

QUOTE

at least $25,000 - $35,000 coverage or more

That might be a stretch with any insurance company for a 914-4 that doesn't have historic significance.

My policy with Hagerty cost $414 per year for $30 K in coverage. You get to pick the value you want if you can prove it with photos and receipts. My car has quite a few track modifications and a bigger motor than yours, so the rates might be less for the same coverage on a car that is more show and less go.

Hagerty has no restriction on milage, like most other carriers do. About all you have to do is prove the car is not a daily driver and keep it in a locked garage.

I am also with Hagerty, they are very flexible. No one was willing to give me collector insurance because we have two cars and two valid drivers in our household. But Hagerty worked with me because I do not need a car since I commute to work every day via public transportation. I pay $111.00/year for $8K

Boy, you guys got it good! I pay $164 for $8000 of coverage from Haggerty.
Guess their is lots of crime and uninsured motorists around here in Washington.

Geoff

I don't think I'll have any problem documenting the cost of the coverage I'm going to write when my car is ready. All of the receipts will be dated within the last two years.

Yet another vote for hagerty. I have a $9K value on my car now and I think we pay ~$100 a year. Yes, there are restrictions, but I can live with it. My car is driven for fun on sunny days and to SCCA events. One note is that I am NOT covered at SCCA events when my car is on the AX course, a risk I'm willing to take. It is covered while in the paddock.

I've been using "Condon and Skelly" for about 12 years. They were recommended to me by Drayton James who was the National Vice-President of the Porsche Club of America at the time.

$18,000 on my 914-4 at $126.00 a year
$20,000 on my 914-6 at $140.00 a year
$25,000 on my 911T at $175.00 a year

Condon and Skelly 800-257-9496

OK, there are 3 major players in collector car insurance, Hagerty, Condon and Skelly, and J.C. Taylor. Lots of others. All offer similar programs, and all require that this is not your daily driver. None provide coverage on the track.

As brokers, we access all of them, and have had the best luck with Hagerty (and they are helping with WCC). J.C. Taylor is better if you have a really valuable car (think Gullwing) or a hot rod or replica that won't quite fit the other programs.

The other, and often better alternative is to talk to your agent and see if he can offer a low rate on an 'extra' car that sits more than drives. Insurance companies may not be too bright, but they have figured out you can only drive one car at a time. I have my 2 teeners on my regular policy at rates comparable to the collector companies. Maybe a few$$ more, but nice to have all in one place. This tends to work best on cars valued under $20k.

STATED VALUE!!! Make sure they know what your car is worth so no hassles when submitting a claim.

This is not intended as a solicitation for your insurance. We only write in CA, and don't make any money on $200 policies

QUOTE (VegasRacer @ Mar 8 2005, 05:31 AM)

... and keep it in a locked garage.

This always my problem. I have a carport, but not a garage. The thing is enclosed on 3 sides, but no door. I wish there was a company that had more flexibility on this point. I've heard some say that Hagerty did not require this for them, but I believe their web site lists it as a requirement.

I use J.C. Taylor Insurance they are out of Upper Darby PA.
I just placed 15k policy on mine (what I have in it) for $134.00 a year. Limitation of 2500 miles per year and they don't spot check your odometer. If you insure for 25K or above, you will need an appraisal. Hellava deal I think.

I am with American Collectors Insurance out of Cherry Hill NJ. I was referred to them by USAA. $!2000 for $115.

Any offshore alien carrier would be a fine bet for someone in CA. Whoops, they don't do that anymore hee hee. Howard, I have a story to tell you about that, I'll tell you at the WCC. I was involved with those companies doing underwriting way back when.

Applied with Hagerty today... they seemed to ask all the right questions about the restoration and mods on my car. Looks like about $400/yr. for $25k agreed value. We have really high uninsured and underinsured motorist coverage in AZ since less than 40% of drivers on the road even have insurance... let alone a driver's license.

If it all goes through I'll be saving about $700/yr. with Hagerty vs. State Farm.

Brian, I found that State Farm is pretty high. My 72 with full coverage, nothing special is about $90 per month. Clean record, and old. Two cars on the policy, no limited use. Gotta change that...

Good choice going withh Hagerty. Though I don't know how their claims department works, haven't needed to use it, and hopefully noone will ever need to find out

We have a '71 911E Targa insured with Hagerty for about $18,000
Insurance is about $150 a year.
No mileage restrictions.
Obviously insurance doesn't cover track time, but it does cover to the track, from the track and in the parking lot.

Howard!

Question for ya.

The Grundy guy was on My Classis Car once and stated that there are different types of "agreed value" policies. Something like 19a, or 19b, or c... you get the idea. He said only one of those was true "agreed value". I can't remember all of the details. My question is not specific to Grundy, but do you know in general what this means? Or is it even a correct statement? I've been curious about this for some time and I'll have to get a new policy for my car as soon as I go to haul the tub back. I've already got over $25k in the thing including purchase price.

Howard, can you clear up some questions on Hagerty restrictions? Here's what they say on their web site:

QUOTE

Usage. Hagerty covers vehicles that are used on an occasional basis -- e.g. club functions, exhibitions, organized meets, tours and limited pleasure driving. Storage. Collector vehicles must be stored in a fully enclosed, locked garage when not in use.

The question is what constitutes "limited pleasure driving". In my opinion that is any driving that is not commuting to work. Typically that means taking a drive on the weekend or in the evening after work. Going out to dinner with a friend. Going wine tasting in Napa. Driving up highway 1 to the beach. Going to a Porsche event (swap meet, breakfast, WCC, etc.). It also could be looking for an excuse to drive the 914 and driving to Starbucks for a latte on a Sunday morning. Is my interpretation too broad for pleasure driving?

The other question I have is regarding storage. What if I drive to the WCC and my car is stolen or vandalized while parked in the hotel parking lot? Am I screwed or does Hagerty see multi-day car club events as okay in their book. What if I want to take a Porsche to Tahoe for a long weekend? Am I in violation of the storage requirement by staying over night somewhere?

Anthony,
I may be able to help on some of those questions as I had the same ones for my Vette and asked Haggery. I was told specificly that going to multi-day car events/shows were okay. I was concerned about the car being in a hotel parking lot overnight going to and from the event and while at the event. They told me that there was not problem with that. I guess the key is that there is a car event at the other end of the trip

They also said that if I wanted to use the Vette to go out to dinner, that it would be okay. (Some collector policies have a rule that anytime the car is out of the garage that you must be with the car. You want to avoid those if you can.)

Best thing to do is just call Haggerty and talk to them about your concerns.

tom...

QUOTE (Travis Neff @ Mar 8 2005, 12:41 PM)

Brian, I found that State Farm is pretty high. My 72 with full coverage, nothing special is about $90 per month. Clean record, and old. Two cars on the policy, no limited use. Gotta change that...

Yes, I'm in the same boat.

My Hagerty quote seems a bit higher than the other's here but my car falls into the "modified/hot rod" category with all the modifications and upgrades. I figure better to be honest up front and pay a bit more than to lose out if anything really bad happens. Plus, I'll still save a boat-load over State Farm.

I know the car isn't "valued" at what I have into but I would like realistic compensation if anything bad ever happened. A typical $4,500.00 check for a total loss would cause me to go postal.

It is sad that AZ has such high insurance rates. When I moved to Arizona from Overland Park, Kansas (Kansas City, MO suburb) our State Farm rates DOUBLED. Big problem with non licensed drivers driving with no insurance in this state. Those of us with resposibility get to pay extra to cover ourselves against those with no resposibility. The insurance company wins regardless.

Insurance companies do win, they are the largest financial institutions in the world believe it or not. I agree with being honest up front, it would suck if they denied your claim after paying them for years in premium just on the fact that you left some loose ends.

Disclaimer: These are guidelines. You must read the policy (PITA, I know) for actual terms. This is further complicated by having policies that are state specific to comply with 50 different insurance departments

Intent is the big thing here. They intend to insure a car that is of collectible value and infrequently driven. You better have a pretty good story if you get clobbered in rush hour traffic, but the burden of proof is on them. I have never had a claim denied on a classic car policy for these restrictions, but that is not to say it can't happen.

The good news is that these are all 'car' people and share your enthusiasm. There is nothing in these policies that restricts coverage if you decide to drive across country to or for an event.

Assuming here that you are over 25, have a good driving record, and the 914 is not your primary transportation, most of these companies will insure you. But to repeat, the best way (not necessarily the cheapest) is to have it on your regular car insurance policy. But make sure your agent or company knows the facts as to its value and usage. The insurance cost is an insignificant number compared to the care and feeding of these little darlings, so don't skimp.

As to values. The normal terminology with collectible cars is "Actual Cash Value not to exceed $XXXX", the stated amount. Again, I have never had a problem with this, but if you don't state a value going in, expect the worst. Use common sense. Keep receipts, have good quality pictures, and be prepared to justify your numbers.

There are too many 'what if' scenarios to be answered in a forum like this. Talk to your agent!

QUOTE (Howard @ Mar 8 2005, 05:35 PM)

The normal terminology with collectible cars is "Actual Cash Value not to exceed $XXXX", the stated amount. Again, I have never had a problem with this, but if you don't state a value going in, expect the worst.

My impression was that stated value was one of the last things you wanted. You stated a value, then the ins co used that to set your rate. But for a total loss they would then start at that value and then deduct things like wear and tear, depreciation, etc, etc.

I was under the impression was that what was best was an "agreed" value. You set a price and the ins co then agrees to that price. If you have a total loss that is the amount you get.

tom...

I've had good service from Hagerty, they seem like they are actually interested in cars (in addition to making a profit) and there is nothing wrong with that. However, based on what I've seen on this board lately about values, I'm about to up my valuation. Right now I'm paying a little over $100 for $10K.

QUOTE (Hi_Fi_Guy @ Mar 8 2005, 03:59 PM)

When I moved to Arizona from Overland Park, Kansas (Kansas City, MO suburb) our State Farm rates DOUBLED.

thread hijack

I also grew up in Overland Park before I moved to Vegas.
Shawnee Mission West High School class of '74.

/ hijack.