Allen70SSan Diego

Guys:
This question is a spin off from another question regarding insurance. I’m looking to change to an agreed value policy as the “replacement value” in my current policy is for an average (#3 condition) car, which is inadequate. Leland West, as advertised in Panorama, was mentioned by my mechanic. What are your experiences, good or bad, with Leland West for insuring your Porsche? Are there any other specialty insurers you recommend? My 49 Ford and 61 T-bird are insured with State Farm. Thanks - Al

RJT

All the "toys" used to be insured with American Collectors but I recently switched to LelandWest because of MUCH better rates. Seems like most of my 356 friends have been with LW for quite a while with no problems at all. Be aware that LW does have strict mileage limitations, 2500 or 5000 a year, so no daily drivers. You must have another car insured that is your DD. You must be a member of PCA. Other than that they seem to be real easy to work with and the Pres is a Porsche owner and understands the values of our cars.

Robert

S2TGART

Just a little FYI on Leland West, they don't insure cars in CT. There are 5 states they are not license in and CT is one of them. I just tried getting a quote on my SC and no luck. They referred me to JC Taylor, which I haven't called just yet.

M491

They are *very* limited on what you can use the car for. For example, no driving to work. If you ever got into an accident Monday through Friday during work hours, particularly during commuting hours, I think you'd get hosed.

Be sure to read the policy, and it's exclusions, very carefully to make sure it is what you need.

BER

I concur with M491's advice concerning Leland West. Great rates, but read the fine print.

Just an FYI, I use State Farm for all my family's cars. State Farm has a "collector car" policy with a stated value coverage. I pay $308 annually for the Carrera and $280 for the 911.

amfp

For me, when I looked at Leyland's fine print, or spoke with their reps -- there was always a red flag that made me feel uncomfortable. I would rather pay perhaps higher rates with a well known company to insure a valuable (at least to me) Porsche.

zflea

Stated value is not a good thing. Agreed value is the term that you want. With stated value they go by wholesale which is very low. Agreed value is the proper term for the amount you and the ins comp agree the car is worth if total loss. no questions asked already agreed to.

Allen70SSan Diego

Agreed value is absolutely the clearest resolution. That's the attraction of Leland West. The State Farm antique/classic policy required an appraisal and pictures to establish the level of coverage. However, if there is a loss they will only pay "what the car is worth at the time of the loss." Presumably it is up to you to convince the adjuster, with documentation, that your number is the right one.

craig001

I have had Leland-West for all three of my Porsches. My only claim has been a windshield replacement in my 964 last year. They were easy to work with and set every thing up for me. The drawbacks are that you have to have a Daily Driver insured all ready, a locked garage, no driving to work and a milage limit (1k/2.5k/5k). In my case the agreed value was the purchase price.

Pedro356C

I had Leland West for my 356 and their service is excellent...you just have to prove the car is garaged and that you have a decent (not a 1978 Honda) daily driver...you should use the car just for pleasure and no more than 5000 miles/year...

Crimson Nape Racing

it's not just Leland West who has the restrictions that M491 refered to. I tried to save $ a couple years ago and every "collector car" insurance co. seemed to have the same restrictions. I like to drive to work once a week or so, so I just gave up and continue to pay thru the nose.

S2TGART

When we bought our '83 MB SL, I researched collector car ins and found that alot of companies won't ins. your "collectible" if your daily driver is more than 10 years old. I ended up going with Hagerty Ins. They don't have a "set" mileage limitation, but it is generally understood that the vehicle is for limited use. They are not concerned about what your daily drivers are, as long as your collectible isn't meant to be a "back up" car. They have agreed value policies. Also they have a roadside assistance program. I just added my SC to that policy. All they need is 3 pictures of the car, one of the engine, exterior, and interior. This is to show that the car is in stock form. This is of course if you are insuring it as such.
Knock on wood, I haven't had to make a claim to give you my experience on that end of it.

Phil G.

I'm located in the northern Philly suburbs, and got estimates on my '04 C4S from L-W and Hagerty. L-W beats them by >$400/yr. (around $1K annually). I'm checking with Allstate who insures my other vehicles, as they have a reciprocal arrangement (at least here in PA) with Hagerty. I'll see if their rates are competitive - if so, it's more convenient to have all my cars, including the Porsche with one company.

Phil

zflea

Try sneed ins. no mileage rest. , but must have garaged and need daily driver. Also may drive to work occassionally. Rates very good. agreed value no appraisal up to 25k.

RC_Targa

I currently have my 911 insured with my three other cars through CSAA. I started to look for alternatives for my '84 Carrera & '73 Beetle on the Hagerty Ins site. The rates appear low but so are the liability levels - $15000 / $30000 (Per Person/Per Accident). I currently have $500K per accident with CSAA.

Isn't that an issue? With "sue happy" people today will $30K be enough? Perhaps I'm missing something here?