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
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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.

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

30k.

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.

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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.

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

Just had mine boosted to 30K

Awesome, thanks @StratPlayer
I imagine it's an Agreed Value, mind if I ask who your insurer is? Was an appraisal required?

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.

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)

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.

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.

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.


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make sure you have the right language

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.

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

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

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

it will vary based on value, location driving records blah, blah, blah.

I pay more than I like for my original 1 family owned excellent preserved condition /6. About $650/yr including roadside. I drive 2500/yr or less. Weekends and PCA events. This cost is of course, based on my agreed value, driving history and allowing other drivers in my family to drive it as well (pesky kid and wife ) That said, when I added a $5k 924S to my policy, it only cost another $50.

Thank you

I pay about $700 a year for my '75, Agreed value insured by Haggerty is $55,000, i do not have limited mileage even though i probably only put about 1500 miles on it a year now. Has more to do wtiht the total agreed value than anything else. If its stole n or totaled they write a check no questions asked. I could pay half as much but why save $300 and only be insured for $25k, i could never replace it for that, not for something of the same level of restoration. and i added my Maserati for about $270 a
year its insured for about half the 914.
Phil

My current insurance agent provided a blank appraisal form in which I’ll need to fill out and give a stated ‘Agreed Value’ in which they will review and either accept or deny. Anything over $25k has to have professional/outside appraisal.
Am I too low at $15k? The body is straight with a few dings and signs of bonds and paint is oxidized for the most part. It’s complete, but far from full restoration. Most electrical is sound. No heater.
Must be garaged of course.
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I don't think you could replace that car for 15k anymore.

Good point. And based on what @Eric9144 states I think I should max out to $24k.

Wow. I need to up my value this year.

Zach

I'm about to pull the trigger on Hagerty for $421/yr $40K agreed.
That's decent, right?

i am leaving Hagerty erty after 12 years no issues but recent price hike, decided to go with Grundy, same coverage, same $50k agreed value, about 50% less for the 914 & Maserati than Hagerty

Length of time at an insurance company means nothing to the company. You will get treated the same after one day as 12 years.

I think it is important that all realize that you need an agreed value policy.
Those who have stated that they have a "stated" or "declared" value on thier car
only means that if something happens to the car, that is the maximum
the insurance carrier will pay, not the amount they are going to pay...

100% and it's also important that it may not necessarily be reflective of the "price you could sell it for" but really the price you'd need to replace it in a total loss.

The February Panorama has a valuation chart in the back this month for the 914.

May be useful when talking to your insurance agent.

I will probably up the agreed value the next time it is up for renewal.

My collector cars are with Chubb and I recently quoted Hagerty. Was amazed that they came back at nearly double the premium for less coverage. My homeowners is with Chubb so I’m sure I’m getting a good discount, but still...

OK, holding off for quotes from Grundy, Chubb...

Losing my collector car would not impact my ability to earn a living. To me there's no point in paying for insurance beyond liability and medical to protect my family's other assets.

I suppose this is just my personal preference. I have no patience with bureaucracy. My experience with other kinds of insurance is that they'll look for any reason not to pay, and I'd rather not play their game. Someone bumped my 914 from behind a couple years ago. Minor dent in the rear bumper. I got her info but didn't bother to follow up.

That's probably a rational point of view, but...

Of all my possessions, my 914 is among the most likely to self-immolate
AND
If it were removed from my life, I'd have a hard time justifying the money to replace it. After all, it's "just a toy"

Those factors make me very happy to pay ~$400/yr to know that if I lost it, I'd get a reimbursement that would make it easier to swallow the idea of getting another "toy".

Tell me that when you are standing behind your 914 looking at this:

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And then the months of fighting with Flo's cheap ass employer, telling you that your pride and joy was only worth $1500.00.

You would sing a different tune after that. Because the only way to fight a cheap insurance company is to have an expensive insurance policy.

Back in 2011, I was rear ended by a chevy truck on the freeway. I was stopped along with (most) traffic in my 86 944 turbo. The chevy driver was, in his own words to the responding officer, "doing freeway speed, looking down at my GPS, I never even saw them".

I wish I had agreed value insurance because I soon learned that, despite their claims to the contrary, nationwide was most definitely NOT on my side.

They tried to run me around in every way you can image and some you may not imagine. They lied to my face multiple times. My favorite lie was when they told me I needed to settle quickly because the fees to keep my car in their storage lot was eating into my settlement amount. They actually tried that lie a few times with different people.
My response was always the same, "How the F^(k are you charging me storage fees when my F^(king car is downstairs in my F^(king garage this very F^(king minute and has been since about an hour after your client hit me? (Yes, not very polite or professional but I was tired of dealing with those F^(kers )
I did find out that not being in a hurry is a huge advantage. The longer you tell them no, the more they want to get the claim off their books.

I really need to get back after stated value insurance.

Have them on my 6. $100k value, premium is $297/yr. Considering the condition and reading some of the other comments it is probably time to up it some.

Pulled the trigger with American Collectors $385/yr 2500 miles, no Track, $40K agreed.
Current insured wanted $605/yr, $24K agreed.
I'm good.

i had posted that i was going to switch but at the last minute when getting the full underwriting and actual coverage in both cars, i ended up staying with Haggerty, because i have full coverage, unlimited mileage, i can AX or de but only do that 1-2x per year, heck i have knot put 5k miles on in 3 years on either car, but agreed value of $55k for the 914 and $30k for the maserati gives me all that and more that other companies just don’t offer, for $1400/year - and this way it’s not me arguing with the other company about value let Haggerty fight that battle. Grundy looked good i was quoted about $300/ year less for close to same coverages but they were not going to let me do any AX way too many restrictions.
yea i could decrease the coverage and pay half as much i but for 2-300$/year more i know i can replace it with something that’s equal to what i’ve put into it. .