sanjay28

Hi all, I did a search for this, but the results were 3 to 4 years old - I want some current figures from anyone willing to share them...

I received a quote from Progressive Insurance for coverage on my '88 S4; the rate is aproximately $1300 for 6 months ($2600 yearly). This seems high - I haven't paid rates like that since I was single and in my 20's. I am 42 y.o. and have 2 tickets on my record (1 ticket will be removed in a few months).

Also, while searching RL, I found some references to "Market value" vs. "Stated value". Any suggestions on this and deductibles.

(I have my home insured with State Farm and should be getting a quote from them tomorrow). Thanks in advance.

blitz928

How many miles do you drive per year? and is the car garaged? You may qualify for collector car insurance.

KLVA

Hey Sanjay,

You should consider your 928 as an occasional use vehicle and call Leland-West Insurance in CA. They offer specialty and leisure vehicle coverage for a MUCH more reasonable rate.

1-800-237-4722..^Talk to Felicia Sandoval.I will let you get your own quote
Revealing mine is not productive
Stipulations are: Min. $300,000 Liability coverage
Documentation of value added improvements
Limited to 5000 miles per year

You should only have a problem with mileage limit if you are gonna daily drive this 928, but why would you want to leave her all alone all day..??
Must be garaged
Give em a call and I think you will be amazed. Tell her Kevin Lacy in VA.referred you
Good Luck and again, Welcome to the Shark Tank..!!
Will we be seeing you at SITM in June ..?

..... Kevin

sanjay28

Thanks for the lead Kevin.

The car will be garaged in a "nice" neighborhood (low crime rates). I plan to use the car only occassionally so I would be safe with the 5,000 mile limitation.

Stephen Porter

Sanjay,

I pay ~ $725/year ($360/6 mos) for my '88 S4. This is "normal" insurance with California minimum liability requirements and $1,000 deductible collision/comprehensive. My mileage is supposed to be around 5,000/year and I doubt that I drive it that much--although I haven't had it a full year yet.

Read the various insurance threads here carefully regarding the terms "market value," "stated value," and "AGREED value." The only one worth getting, if you can qualify for it, is AGREED value. I tried for agreed value with Hagerty, but they wouldn't accept it. They are getting very picky since they really don't want these cars being driven for anything but hobby-related events, or the "occasional" pleasure drive. A "pleasure drive" is NOT running down to the store or driving the car to work.

Hagerty's also requires that you have a daily driver that is less than 10-years old. My current DD is an '88 924S, so that gave them grounds to deny me, but I could tell they were pretty reluctant to cover me on agreed value ($15K) for any reason. In the past I had a very low-mileage 951 (20K miles) they did insure for an agreed value of $20K, with no hassle. But times have changed. I got the distinct impression speaking with them (and I did go round and round with them at the "supervisor" level), that they felt there was a lot of fudging about the "collector" use of this class of car and their underwriting guidelines had tightened up. The 951 was about $500/year, IIRC. I haven't tried Leland or any of the other carriers though. My current cost of $725/year really isn't that bad, but the caveat on "regular" insurance is that if a really nice S4 (like mine!) were totaled they would probably want to settle for about $5-6K. And it wouldn't take much of an accident for them to total it with repair costs being relatively high and "market" value low. There might be a way for you/us to carefully document the value of a particular car and fight with them for true value, but I don't know if it would be successful when push came to shove.

Again, read the numerous other threads here for more info. And remember that AGREED-value is the ONLY way to go.

BTW, my insurance company is Ameriprise, through COSTCO. I've never found anything nearly as cheap. I haven't had to use them much, and I would rate their service on the occasions when I did as "C" or maybe "B-".

HTH.

springman

I use Leland-West. Very reasonalbe rates. They have 2,500 & 5,000 mileage maximums. As Kevin said the car must be garaged and you are not suppose to use it as a commute vehicle for work and or daily errands.

Stephen Porter

Kevin,

Thanks for the info. I will check into this and see if they are more lenient than Hagerty's.

aaddpp

I just added my '87 to my policy (other car is a Toyota Sequoia). With a clean driving history, and 37 years old, I am paying about $1,050 / year for ful coverage. I know I could drop this to about $650 - $700 for basic coverage - which I will probably do eventually. Good luck with your search.

Dave

mickster

Hi Sanjay,

With 2 tickets many of the classic car companies will not insure you.

I am in worse shape as I have accidents (no tickets ironically) and can't get anything other than regular coverage.

https://rennlist.com/forums/928-foru...14-months.html

Try them all and get the one the one that comes to an agreed value and also allows you occasional driving.

Good luck!

Michael

sanjay28

Thanks Stephen.

Does Leland-West verify mileage (i.e. annual odometer readings)? I really don't think I will exceed 5k miles a year, but that is an average of less than 100 per week and I imagine that it can be easy to pass that limit.

For those of you that have that mileage limit - do you find yourselves "counting miles" and when renewal time comes, would you pay more to be able to drive the car more often?

blitz928

I use Hagerty, requirements are less than 5000 miles/year. Though they never check odometer. THey request you to send photos of the car and garage. You'll need a daily driver under 10? years old, and a locked garage. Agreed value policy, 100./300/100 stacked, uninsured motorist, $0 deductibles on comp and collision. Roadside assistance for 100 miles from your home is included. It's under their exotic car program. I pay $383 a year. My driving record is perfect, though. No tickets, no accident, no claims.

sanjay28

Wow, that's a great rate. I'll have to see how much impact the 2 tickets will have. I'll update you when I get a quote.

Toms928

Check out American Collectors Insurance. Rated as one of the best, have been around for a very long time. Have 2500, 5000 and 7500 mile limitations, roadside assistance, etc. No one with less than 10 yrs driving exp. can drive. Told my daughter sorry. I have the 100/300k coverage with full coverage, 0 deductible, 2500 mile limit for about $280 per year. I think she said 5000 mile was about $330.

sanjay28

Thank you!

billtool

Hagerty. $360/year. Stated value. No max mileage. I couldn't find anything close to beat it.