Who insures your 911?
#16
Track Day
Join Date: Jul 2009
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I spoke with USAA this morning and it would be about $600 a year for full coverage (liability etc) based on the NADA value. To add a classic policy is $390. The car will be a weekend/nice day driver. The classic car policy does not cover theft from parking lots or other damage incurred while I'm not 'at the wheel' and away from home. What do you all recommend in a policy? Seems like combining a regular policy with the classic car would have some overlap but I'd want to be covered if some yahoo steals the car off the street while I'm eating dinner somewhere.
Lawrence
Lawrence
#17
Three Wheelin'
Join Date: Oct 2008
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FWIW, I'm also in the market for collector car insurance for my '95 993. I got a quote from Hagerty today that was a lot higher than I was expecting: $895/year with a 5K mile/year limit. Maybe this is because Hagerty made me classify my car as an 'Exotic' because 'Stock' vehicles are model years 1986 or older, according to their definitions. For comparison sake, American Collector quoted me $640/year for the same mileage limit and agreed value.
#18
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I recently switched to MetLife Auto and Home from Progressive. They give me a full year policy, on which I have 4 cars. My 2005 911 Turbo S runs about $1,200 a year (almost double what each of the other cars costs). I have a nineteen year old boy on the policy.
MetLife beat Progressive, who nobody had come close to for years. Progressive boosted my premium because of a not-at-fault (old lady ran red and T-boned my son's car) accident, so I got rid of them!
MetLife beat Progressive, who nobody had come close to for years. Progressive boosted my premium because of a not-at-fault (old lady ran red and T-boned my son's car) accident, so I got rid of them!
#20
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If you are is 25 years old or older it would classify as a Classic Car.
If you have other cars insured that are your daily drivers and you use your Porsche for pleasure drives, you could save quite a bit by using a classic car policy.
One of the main differences with standard companies and Classic car insurance companies is how they insure the vehicle. The standard policy may have a "Stated Amount" of coverage, say $25,000. If you read the form "Stated Amount" mean actual loss up to $25,000. If your car is totaled and they can find your year and make for $20,000 that is all they have to pay. With the Classic Car policies, most of them use "Agreed Amount". If youe car is totaled or stolen, you get the agreed amount.
As an insurance agency I insured my classic cars with Hagerty.
If you have other cars insured that are your daily drivers and you use your Porsche for pleasure drives, you could save quite a bit by using a classic car policy.
One of the main differences with standard companies and Classic car insurance companies is how they insure the vehicle. The standard policy may have a "Stated Amount" of coverage, say $25,000. If you read the form "Stated Amount" mean actual loss up to $25,000. If your car is totaled and they can find your year and make for $20,000 that is all they have to pay. With the Classic Car policies, most of them use "Agreed Amount". If youe car is totaled or stolen, you get the agreed amount.
As an insurance agency I insured my classic cars with Hagerty.
#22
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I use Hagertys.I have never had a claim,but I have never heard of problems and I don't believe I have a mileage restriction.I drive less than 5000 miles per year,so that was not a concern anyway.I did have to provide proof that I had another car insured as a daily driver and had to supply pics.
Be careful of the "stated value" policies compared to "agreed value" policies.
From what was explained to me the companies that offer stated value will charge a premium based on that value,but in the event of a claim can reduce that to market value if it is less.Agreed value is a policy that pays the agreed value no matter what the current market may be.
Insurance agents please chime in as I am interested in verification of this.
Be careful of the "stated value" policies compared to "agreed value" policies.
From what was explained to me the companies that offer stated value will charge a premium based on that value,but in the event of a claim can reduce that to market value if it is less.Agreed value is a policy that pays the agreed value no matter what the current market may be.
Insurance agents please chime in as I am interested in verification of this.
#23
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BTW, I also have a 17 year-old driver in the house, so my rates went up when she got her DL. Prior to adding her to the policy the Porsche was $287/6 mos. Not too bad.
I tried to isolate the 911 from her in the policy as she is not allowed to drive the car nor she knows how to drive manual...but that doesn't matter to USAA.
I tried to isolate the 911 from her in the policy as she is not allowed to drive the car nor she knows how to drive manual...but that doesn't matter to USAA.