FatBoy

What would a real world value be for a 1988 928 S4 be?

A few years ago I listed its value as $23,000 and havent changed it.
It is a limited use / stated value policy.

The car is in like new condition.
Mileage: 27,880

Guards Red / Black, options included rear AC, extra speakers, alarm.
No dings or issues.

Upgrades: 17" GTS rims, RMB and Jager Shifter.

One of these days I'm going to install an analog clock and take out the tape deck, one of these days.

It is mostly used on weekends and a few car shows. I'm one of those nuts who cleans it more than necessary so it still looks in showroom condition.

But would the insurance company really pay me 23k for it? Not so sure about that.

Thanks,

Tom

Stan.Shaw@Excell.Net

I thought the whole pointed of stated value insurance, was that you were assured of being paid.

I think yours would be difficult to replace, due to the described condition and the low mileage.

I don't think the insured amount is unreasonable, and wouldn't be surprised to see it higher. There are many more project 928s out there, then garage queens like yours out there.

bigmac

Last year I paid $24,000 for my mint 90S4 with 38K miles.

perrys4

Seems odd that your insurance didn't question the value if they thought it was out of line. I would hold it there but I know there has been questions here about stated value and declared value before. mIght want to look into it so you aren't disappointed should anything happen to it.

Sab

A friend on mine paid $30k 8 month ago for a mint like new "91 GT with 30 k miles.

Richard S

You are confusing a "stated" value policy with an "agreed amount" policy. As I understand it, a stated value policy will pay up to the amount stated, but that means you could get less. An agreed amount policy will pay you the amount agreed upon in the policy.

Rich

JG928S4

Excellence Mag market update for on 88 928 S4
(but the mileage you show is exceptionaly low)

Dec 2005
Low $11,218
High $17,705

Dec 2004
Low $11,218
High $17,705

Dec 2003
Low $10,118
High $15,400

Dec 2002
Low $11,087
High $16,875

Jim bailey - 928 International

Lifted from an insurance site..."Actual Cash Value (ACV)This coverage can usually be provided by standard auto policies. At the time of a complete loss the insurance company claims adjuster will decide what your car is worth. You may have some input, if you do not agree with the claims adjuster, but in the end the insurance company decides the final settlement. If you don't agree with the settlement, you may have no choice except to seek legal action, or arbitration if specified by your policy agreement.
Stated Amount or Stated Value This policy is often misunderstood, and frequently used for collector cars. Most insurance agents represent stated amount or state value policies as being the same as "Agreed Amount." It is not!

A "Stated Amount" policy usually says the insurance company will pay the lesser of: The Stated Amount or The cost to repair the covered auto not to exceed the "Stated Amount" or The "Actual Cash Value"

The "Stated Amount" helps determine the premium cost but is no guarantee of the settlement amount of the car if a total occurs. The "Actual Cash Value" is explained above and allows the claims adjuster to determine the loss often for less than the "Stated Amount". Most insurance agents are not aware of this claims detail. Many agents, unaware of the actual policy language, will insist if your collector car is stolen or totaled, you will receive the stated value. They are Wrong!

Agreed Amount or Agreed Value Policies are the only guarantee in writing of the amount you will receive if your car is stolen or totaled. There is no "Actual Cash Value" clause in the policy. The "Agreed Amount" policy says the insurance company will pay you, the lesser of: The "Agreed Amount," or The cost to repair the covered auto, not to exceed the "Agreed Amount".

With an "Agreed Amount" auto policy, your agent and you must agree together what the "Agreed Amount" should be before the policy is issued. The "Agreed Amount" should represent the true market value of the car at the time the policy is written. If the market value changes during the policy period, the "Agreed Amount" can be adjusted to reflect any market changes during the policy period and should be reviewed at renewal." ........... So based on this information "Stated Value" does not appear to give you much more than a higher premium ! I can see why some agents might LIKE stated value