Garth S

Yeah ... I've searched/read numerous threads on the topic, so before someone tells me to do so , none of it applies here in remote Atlantic Canada ..

So, here's the deal: I have three cars insured at full appraised value with an assurance program known as 'Silver Wheels' ... to qualify, a vehicle must be >15 years old, not a primary driver, no business use, etc: the valuation of each vehicle is determined by a Certified Appraiser who does both a physical inspection and driving evaluation - each such appraisal is valid for 5 years.

Case in point, my 88K mile '96 C4S was valued at $40K some time back, and is due for review - the smart money would suggest that to be a bit light for a wide body in more than fair shape in today's market.

Unless it was a preplanned event, I've never met another 993 on the road in the last 8 years, so one can speculate on how many my appraiser has recognized: it would be fair to think that he relies somewhat on my input.

So, it would be astute of me to have a rational figure to suggest reflective of ,
a) today's market for subject car ( in the slightly higher priced Cdn market)
b) add a 'bugger' factor for 5 years future value ( increase/decrease)

From what I've noted recently, $60K may be in the ball park for today - and no crystal ball sense of whether the market will continue to appreciate, hold, or fall.

I would appreciate your sage guidance in this matter.

timothymoffat

Garth I'd suggest $70K Canadian. Maybe a bit more but nothing less.

Ed Hughes

If you can state value, and it doesn't cost a ton more- go for the higher $70k figure. You'll probably grow into it soon enough.

I just insured my "lowly" '95 C2 for $40k.

soundbehindyou

At least 60k USDollars...if typically more up North eah, then I would be conservative eah?

pcarrera993

I have c4s w/ $70 agreed value, 53k on odo. Have a feeling soon will have to adjust north of current valuation.

Kacey

When insuring my 96 C2 in Montreal, the insurance company required me to have it appraised. They came and inspected my car, took many pics, compared it to the market and gave it a value of 38,000$ CDN.

Kacey

It's spelt "eh"

Mike J

Your mileage is fairly high but I would put the value at $75K CDN min to future proof a bit - but of course you are playing the game of also raising the threshold of how much they will pay to get it fixed - which means a major accident that you would want to scrap the car may get fixed.

How much is that sort of insurance anyways on the east coast? Out here in socialist BC, a defined payout policy for pleasure use only would be at least $1900/year (from Hagerty), likely more. I was quoted a defined payout of $100,000 for my Turbo (97 with 94K kms) at $2100/yr, which is why when the US boys complain about their high insurance rates it's just laughable .... they do not know how good they have it.

Cheers,

Mike

MartinC2S

I'd be interested in this too. Who are the usual suspects to use in Canada? I know in BC ICBC loves to put people over the barrel with no lube but in good old capitalist Alberta I'm hoping I have some different, and cheaper options.

Right now I have just regular insurance on my 98 C2S (with 38k kms on it) and I believe I'm paying around $1800 a year with Meloche Monnex.

FabianS

I agree with around $70k Canadian. I have the same insurance plan as you, and mine is insured at $36,000 for a 95 C4 with 150,000 kms on it. I wonder if that is even enough these days...

Ed Hughes

Ouch, I won't complain about insurance cost any more. Ours is basically free.

Garth S

That's great! - all we get for free is health care & snow removal

tcsracing1

i am in atlantic canada with my two 993 porsches. (Newfoundland).

I only have public liability on them as they see little use for the 3 months i am in the province.
I figure if it is my fault i will deal with it.
I am pretty much sick of paying high insurance premiums....

Garth S

Excellent input/comments ..

In the US, Hagerty/Geico surface frequently in such discussions - from discussion with my 'regular' insurance broker , such full coverage programs are available from standard underwriters locally, but at a $$$ price.
The speciality policy underwriter that I utilize , as does Fabian from his note above, has been very reasonable to work with, is reasonably priced , and has a reputation of above board dealing if a claim arises: just checking my policy, the 993 is fully covered for $40K + 15% HST = $46K with deductibles of $100 on collision & comp .... for a cost of $508/annum.

With a increased appraised value, it appears to be a linear increase in policy cost .... so ~ $870/a for a $70K valuation

( my '80 928 is similarly covered for the appraised value of $20K + 15% taxes for a whopping $155/annum. It is sufficiently aged to fall into a ( cheaper) Gold wheels category.)

An appraisal is ~ $100, so rather trivial in the scheme of things.

Martin, take a look at 'Silver Wheels' .... the insurer here is AVIVA: Fabian would have your local carrier's link.

Mike - yes, ICBC ( Ins Corp of BC ) tends to give even socialism a bad name - apparently they have a lock on speciality vehicles as well?

So, it's looking more like $70K could be the zone - what a change over a couple of years!

Mike J

They lock the basic liability insurance (about $900/yr) for $200K, which is hardly nothing. The additional insurance to cover collision, comprehensive, etc. can be purchased from a few private providers and ICBC. Both gouge like crazy, and if you get any speeding tickets or violations, your rates can really jump, never mind if you have any accidents.

Your insurance is CHEAP compared to mine - by a factor of 4 at least.

(and that health insurance is NOT free - you pay taxes right?)

Cheers,

Mike