kkothand

After trying to get a reasonable insurance for my 1982 911, this is what I experienced and thought I would share this. I also did a bunch of searches and found very useful info here and in Pelican forum, but it is clear the insurance policy and conditions have changed over the years (read threads as far back as 2005).

Conclusion:
1.) If you want agreed value insurance then your flexibility of driving the car as you please is gone. Also, no DE or other events, even if these are not strictly racing events (i.e. not competition or judging).
2.) If you want agreed value insurance and do not use the car in DE events and such, then all drivers in your household should have their own ride, along with other restrictions. If for example your kid is in college and has a driver’s license but takes a bus to school, and is allowed to drive the family car only if you permit is immaterial to the insurer. Your kid has to have his/her own ride even though he/she won’t be driving P-car.
3.) You can get insurance for $450 for a year (may be more), but only book value should your car bite the dust and go to Porsche heaven. Of course no DE or other such events allowed.

So this is what I am contemplating, option 3 above, and take insurance only for the DE event (Lockton Insurance for example), if I want to do a DE event. Looks like have to give up on agreed value and take my chances.
Assuming money is no object, wondering if agreed value insurance is even possible nowadays for older P-cars even if one is willing to pay.

Any thoughts comments welcome.

JonSnow83

This very morning, my insurer offered me a new, agreed to value for my new '85 ROW Carrera. Neighborhood of $450/year. Full coverage (not Haggerty, etc. type occasional use). Only catch was that it required proof of value. In this case I had a newly executed bill of sale, but I think an independent appraisal would also suffice. My agent is a broker for IMT.

kkothand

JonSnow83, that is good to hear. Can you share who your insurer is? I would rather go that route if possible. Thanks for the feedback.

bhmkv

Hard topic for a forum. Every state and carrier will have differant policies and rules. I would try to get a seperate policy away from personal autos, but thats just me. Normal carriers do not have the systems to write appraisals on older cars. Ask me how I know. Ive been an appraiser for 3 diff carriers over the past ten years. I hate seeing classic cars.

mclmk8d

I have agreed value insurance with Grundy (Phly), and pay $400 for the two cars (1987 Carrera and 1972 911T), no mileage limitations.

theiceman

My opinion wont be popular but i think if anyone takes there car to the track it shouldnt be insured period.. I hate the nudge nudge wink wink aproach of "its education" You take a car on the track you should go get track insurance if you can find it .. why should the insurance company or other drivers bare the burden of massive outlays because people took a car on a race rack .. duh ... policies are designed around every day driving.

I have Hagerty on my 911. I pleasure drive on weekends and after work occasionally. I have another vehicle for every day stuff. i have no issue with that..

Just my 2c which i am sure will be hugely unpopular here

kkothand

Iceman, then let me ask you this as I don't disagree with being insured on the track (that is why I am exploring); should I get a 2 day DE insurance (available through Lockton Affinity for e.g.) will my "normal" carrier object since they may not allow cars in their insurance for a DE event even though they won't be liable? Since insurance companies can pretty much drop you at their whim, I am even afraid to ask them. Worst comes to worse I will have to live without the DE experience, and chalk it up to sign of the times, or my limited funds.

Marine Blue

I recently insured my 911 with Hagerty with an agreed value since Allstate wouldn't do it. Fortunately I met all the qualifications so no issue. Price was $390/year with roadside coverage. Not bad at all and good peace of mind.

When I lived in MA this was a major issue since MA had absurd insurance rules and most collector car insurance companies wouldn't insure until the car was more than 25 years old. So an appreciating 928 with values significantly higher than book could have resulted in a major loss if involved in an accident.

L.A.P.

Good info!

theiceman

My personal opinion is they wouldnt care if they are not paying out , but in a legal wrangling ( for example if disaster happened and someone were seriously injured or worse ) they could get dragged into the legal proceedings for liability.

I would call the insurance company and ask a hyperthetical question .. with a different name .. ... from a payphone .. from another state ...