UDPride

My insurance agent just got back to me on establishing insurance with a collector insurance company on my 1988 911 Turbo with 54K miles. I wanted an agreed value of $35,000. I arrived at this number knowing what I know in searching for 911 Turbos and finding pristine examples and the fact that it just had $3000 BBS rims put on it 500 miles ago I could sell for not much less (and put the Fuchs back on) which would give the car a stock value in the $32,000 range.

The value the collector company assigned was $26,000. There is no way in hell you could find my car for $26,000 unless you stole it was a AK-47. I need help here. I need some info to substantiate my claim. I would be willling to agree to $32-33K if needed, but not a penny less.

You would be hard pressed to even find a $26,000 1986 911 Turbo in average condition, nevermind an 88 thats in no uncertain terms immaculate and has aftermarket rims + the originals, 930S console etc.

I havent sent PCA a market value recommendation yet (I have one on the 951) but I was hoping you could provide some quick ammo for me in the interim.

The collector company is getting the $26,000 from the NADA guide. The low end is $24,000 the average end $27,300, the high end $36,500. This car is definitely toward the high end.

Ugh. I dont need this aggravation.

hoffman912

check excellence magazine.. they also have a price guide every year i believe. excellence hadmy car's value at 3 grand more than it was worth.. some 912ers (including myself) have used their pricing for insurance purposes, im sure you would be able to too.. but not sure where they value the 930.

good luck

D

Sometimes you can request a higher value by paying more. I insure through Progressive(apply online), best rates I could find and there are no "collector" mileage or driving restrictions. Value was set at 26k which was a little more than I paid for the car anyway. The question is do you plan on crashing it or getting it stolen? I would suggest treating the difference as a big deductible and take on the risk.

UDPride

Bruce Anderson wants $150 to appraise my vehicle. I dont think I should have to pay that out of my own pocket to justify a ridiculous value the collector insurance agency put on it (what Im saying is the collector agency should since their market value is the one out of whack, not mine). If we were talking nickels and dimes I could see, but their number is just a laugher. I may tell them they can hire Bruce to run the appraisal and I will agree to whatever dollar figure he puts on it.

Does anyone have a market update from Excellence for 930s they could share with me? I stopped getting Excellence last year and it would be very helpful. Does Bruce's 911 Handbook book have general market values?

blackboy

The latest market update for the 911 Turbo in Excellence appeared in the OCT.2002 issue.
The table show's the value of a 1988 911 Turbo coupe as: in poor condition, 25,253; in good condition, 28,713; in excellent condition, 38,483.
Hope this helps.

UDPride

Thanks blackboy.

blackboy

I checked out the pictures of your 1988 911 Turbo. Know I am not a professional appraiser just a huge fan of this car and in my opinion this car is worth at LEAST $ 35,000 if not a bit more.
By the way, I also own a Red 1988 Turbo coupe, only differences are mine has Black leather interior and stock Fuchs. Blackboy.
I just happened to notice your SCCA member#. I am also a member and will be racing this coming weekend at Beaver Run in PA.
Race group#1, SRF #12.

UDPride

Blackboy, send me some photos sometime. I would love to see yours. Sounds like if someone assigned an agreed value to your 930 at $26,000, you'd tell them to take a flying leap as well. Im just in the process of getting the car insured so this is all still fairly fresh. I didnt just decide I didnt like the agreed value and figure its time to argue. I want to get the policy right from the beginning.

This afternoon I submitte an evaluation letter to PCA but in the modeals they accept, it only said 78 and 79 930 I think so they may not evaluate it.

While thats in the hopper, I will start collecting some local (300 mile radius) ads for similar cars. Though it doesnt show selling value, it does show asking price and a reasonable barter on asking price is 10% in the course of doing business in selling a used car so it at least gives a ballpark area.

I emailed a local person with my PCA chapter. Havent heard back yet.

Got a response from Bruce Anderson. He can do the $150 appraisal, but I consider this a last option, and only if the insurance agency agrees to reimburse me if they are proven wrong (which they would be).

The market values on 911Turbo.com only go through year 2000 but in year 2000 a 1988 911 Turbo's value in excellent condition was around $38,000. I think three years later we're still talking well in the 30s on reasonable extrapolation. I sure wish I could get my hands on a printout of a 911 Turbo market update somewhere to fax the my agent so he can send to the insurance company.

My agent represents many insurance writers and will do what he can to fight on my behalf. In much of this, hes the messenger and not the one at fault. He already said he'd pass along any ammo I had and would use it to tell them they need to reassess their initial agreed value price for this policy.

hoffman912

you may want to also try the Porche Market Letter.. its a magazine all about selling, buying, and market prices of porsches. sorry i forgot about that one. see if someone has the latest issue of that, or latest updates from it involving the 930. its a little pricy, so you may want to find someone who has a subscription, or write into them to get the right back issue that you need. <a href="http://www.pmletter.com/" target="_blank">http://www.pmletter.com/</a>

blackboy

Some more ammo for you. Check out <a href="http://www.2020.com," target="_blank">www.2020.com,</a> this is in the Rennlist classifieds.

UDPride

Nice find blackboy. (Nice 930 too). Im going to forward that to my agent.

Some guy I emailed at PCA national was the wrong guy to help me out, but hes been completely worthless in pointing me in the proper direction to get help. Doesnt seem interested. And this is what my PCA money is paying for. Ugh.

MARS951

UDPride,

Insurance companies are regulated by each state wherein they transact business. Try calling your state insurance comissioner's office (or whoever regulates in your state) and see if they can give you the name of a company that will issue a "stated value" policy. (Chubb issued these in NY, I don't know if they still do.) You tell them the price that you want it insured for (obviously within reason) since your premium will be based upon that value.

I can't believe the "collecter insurance company" in your original post does not know the trading values of these cars. It's there business to know. They may be stroking you on the value since insurance companies these days are keen on limiting all exposure. Prices do vary state to state, but not significantly.

I've been looking for an '86 to '89 turbo for a while. I think your $35K number is reasonable based on my research.

Good luck, hope any of this helps you.

Mike R.

blackboy

UD, if you are a PCA memmber check your back and current issues of Panorama. In there you should find an ad for John D. Heckman who insures these cars and is also a PCA member.
Also in Panorama, you should find an ad for Parrish-Heacock, another insurer. Blackboy.

UDPride

I will check those thanks.

ZCAT3

I am insured through AAA and my policy is for "replacement cost". This of course means that we would need to determine this value if and when necessary, but I would at least get credit for the almost $30K in mods made to my car. Maybe your insurance company can insure the car for replaement cost instead.