Handy930

Went with Condon Skelly a year ago. Changed the Agreed Value to $65K effective this month. Done with photos only online. Premium about $500. I have been following the auctions and rarely see 930's going for the Hagerty values. They quoted me a premium of about $2300 for an Agreed to Value of $140K. I'm comfortable with the value I have covered. Still not sure how one would come out with a claim if you had
major damage say less than 50% of the AV. Who would want a 930 with over $30K in damage repair?
Your restore is stunning. Good luck on needed coverage.

UDPride

Heard back from Safeco. They refused to adjust my agreed valuation at all, despite handing them countless recent comps in the market, the Hagerty valuation guide (which is an industry standard) and getting the car re-appraised (for the third time). Condition 2 was between $130-165K but Safeco didn't even throw me a stupid number on upping the policy with a pricey premium. They just said they disagree and would only write it for the existing amount of $85K which is basically the same as saying "we dont need your busienss anymore". Took two weeks to get a decision from them. ********.

Because I have modified engine parts, policies from every underwriter seem to classify my car in a higher risk bracket and the premiums are significantly higher. Does everyone suffer this? Half the 930s floating around have upgraded bolt-ons.

I drove my car 500 miles last year, but I just cant talk myself into spending $2000 on a policy to insure it. That's $4/mile. That's just stupidly unreasonable. I was with American Collector Insurance at one time, but every year they raised their rates on me and I had no choice but to leave.

If anyone has some good leads on agencies that are neither in the price-gouging business or completely ignorant on the collector car market, let me know. I don't drive 140 down the Interstate. Im 41 with a bad back, bad knees. I drive the back roads, do concours, and go to Dairy Queen in the darn thing.

9Eleven

Wouldn't an umbrella policy cover the difference?

UDPride

Dont have or need an umbrella.

I did the quick online quote from Condon Skelly. Things were looking decent at about $1100/yr, but then I checked "modified vehicle" and the policy nearly doubled closer to $2000. Come on. Seriously? Does everyone else run into this problem too? I just don't consider bolt-on upgrades like headers, exhaust, turbos, intercoolers, wheels, etc in the same "modified" category as the hot rod lowriders at SEMA or the Good Guys Nationals where almost every part of the car was built from scratch or modified as unique and isnt available off the shelf. Its just two completely different things. Heck its easier to rebuild my engine w/the aftermarket parts than the OEM parts (which I also have) considering how difficult and expensive the OEM parts are getting.

Will see where this goes when I can talk to someone on the phone at C-S.

nine45s

UDPride,
Try Westfield Insurance, they are an Ohio based Co. and only service a few states. They have no problem with collector cars.
Best price I found for the coverage I wanted.

UDPride

Thanks. I will give them a buzz tomorrow.

BrandonH

and to add to the irony: at this point, aftermarket parts _diminish_ the value of these cars, not increase it.

UDPride

My local agent sent me the conclusions Safeco made based on the market valuations and appraisal I provided. Among the findings they say they use the "2015 Collector Car Price Guide" for their market evaluations and the prices are $65-80K, not the figures Hagerty and current market comps are showing.

Problem is, that book was published in JULY OF 2014. Nearly a year ago when the major market changes exploded. In the air-cooled 911 market right now, 12 months is a lifetime when the valuations are moving up this fast. So the source they are quoting is not even time-relevant.

Then they made a determination that the reason the appraiser said my shifter linkage needed some minor adjustment was that it was partially due to the aftermarket shifter I have. Well I have no aftermarket shifter. I have an aftermarket shift ****. And we know how those aftermarket ***** (I have the original **** -- just like every other original part on the car) can screw up the ol' shift pattern.

They are also taking serious points off because the Air Conditioning does not "work" and by work I mean it does not work like Lexus air conditioning. Again, they have no idea that 1980s 911 A/C was entirely ornamental for the most part. When you buy a 3.2/3.3 911 and it cools like the polar ice caps, you pass out in shock -- not comfort.

Anyway I could go on and on but I wont. I will rifle off a letter to their board of directors or CEO to make my conscience feel better and move on with life.

9Eleven

Famous last words..............

Last930

I think umbrellas only cover liability, not the value of your car to you.

Matsuzaka

UDPride, call American Modern Home Insurance Company in Cincinnati area, Batavia, actually. They provide "agreed value" policies without an appraisal, just pictures and if you give them too high of a value they will tell you "no". They are also more flexible as to the miles you want to be able to drive per year and how you use it.
From what you are saying it sounds like Safeco policy is a "stated value" policy, that is NOT the same as "agreed value".

Arnie1

I suggest you read the Condon Skelly policy. Unless they changed their policy only covers going back and forth to show events or parades etc. I was going to go with them until they told me you could not use it drives to enjoy it. I went with Leland West but Chubb was also reasonable.

UDPride

Safeco was/is an agreed value policy. Ive paid for another month of Safeco just to keep insurance on the car until I switch. They dragged feet for so long on the policy stuff I was close to being w/o coverage.

My agent writes for American Modern Home, however their quotes are pricey and once again I get lumped into the modified category which adds several hundreds dollars to the policy per annum. Even upping deductibles and dropping mileage did not ease the burden.

Corresponded w/Condon Skelly and sent some initial info but they did not disclose that I cannot drive the car to Dairy Queen on a sunny Saturday afternoon. That could be a problem.

Working a couple other leads as well. Will advise when I get somewhere so others can navigate their own insurance issues if they are in the same boat.

Porsche 930

Insurance rules are dictated by the States. It's impossible to compare policies from X State to Y State, even within States it can be impossible. Mr. A and Mr. B living cross-town can even see different rates. Companies can insure in 40 States and not in the other 10.

Perhaps the only thing we can hope for is to get an understanding of which companies are fair and the ones that are (maybe) not. There are policies that allow occasional use. Just keep looking, hopefully you'll find one.

Maxx1

I'm using American Modern Home insurance. They have a collectible car policy / agreed value and it's about $300 for $60K. The only catch is I can't drive mine to work or the store, and mileage is limited to 1K per year, which is cool, I don't drive it that much anyway.