pjmcgnns

My insurance broker just sent me a Hagerty report listing their valuations for 928 s4s in a variety of conditions. I plan to insure my S4 for the $11k valuation since it is only in "fair" condition. YMMV. Enjoy.

jej3

I would get it insured for a declared value that is what it would cost you to replace it. My 1990 is insured for a named value of nearly twice your valuation with Hagerty's.

Good Luck!

jeff spahn

I have mine insured for declared value of $25000.

jej3

Mine is $22K and I bump it $1K - $3K each year at renewal.

DKWalser

Doesn't a lot depend on how you use your car? If the car is only driven occasionally the type of insurance you might buy is different than what you'd buy if the car is a daily driver, right? (I ask because my car is a daily driver and I thought I was told that the car was not eligible for stipulated value coverage.)

davek9

Collector Car Insurance is not for daily drivers, in fact you must own a "daily driver" in-order to qualify.

Mine are all Hagerty, one for 15k and one for 25k, my old '72 jag is also Hagerty w/ storage insurance as it's not on the road.

pinballplanet

I recently switched from Hagerty to State Farm for my '83 928S. It was cheaper, doesn't require garage (though it is garaged), and insured for a higher agreed upon dollar value. I have used State Farm for decades for my regular daily drivers insurance and I wasn't even aware State Farm offered collector car insurance until I asked them earlier this year...

Speedtoys

What restrictions did SF have?

RedRaider1

Switched from Hagerty to Safeco this year. Still agreed value and driving restrictions were less.

http://www.safeco.com/classic-car-insurance/features

From their site:
Go Ahead and Drive
Safeco allows you to drive your classic car on more than just weekends and holidays. Go ahead and drive up to 10,000 miles per year with our regular use option. Or choose our limited use option if you drive your classic less than 5000 miles per year. You can even mix your daily use cars with your collector cars on the same policy and still get all of the Safeco classic car insurance coverage. You can also split them up as individual policies. It's your choice.

pinballplanet

I don't entirely recall, but I told them that I drive it at most 4 to 5 thousand miles per year, mostly weekends and leisure. I already have standard coverage with them for my 3 other cars. In fact the 928 is on the same policy.

Just saying they're another option to consider and that their coverage and rates were more favorable for me than was Hagerty. YMMV.

Petza914

Both my '79 928 Spyder and my '74 914 are with Hagerty at Agreed Valuations of $90,000 and $30,000 respectively - no, there are not typos in either of those #s. That's the one upside to keeping a project cost spreadsheet that under most circumstances brings you to tears.

Adk46

The idea with agreed value insurance is - for the limited situation of a badly damaged car - what you'll be given to repair it or what you'll get if it is a total loss.

Within reason, that's entirely up to you. You can apply any criteria you wish. The car values that Hagerty provide are something like prices at a fancy car auction like you see on TV. These have little to do with the good running condition and up-to-date maintenance status that most members of this forum prize very highly. Hagerty's condition definitions are oriented around garage queens and concours competitors.

Here's one sensible way to come up with a value. Start with what you paid for your car. Maybe you should adjust that value based on any surprises that make you think you paid too much or too little. Increase the value according to how you improved the car. Perhaps you split the difference between what the car ought to sell for with these improvements, and what you or someone else might actually pay. There's an unfortunate difference, as we all know.

Finally, make an adjustment reflecting the rise of prices that Hagerty's data show between the time you bought the car and now. Voila: a reasonable number. Go higher if you are nuts about the car and don't mind the higher premium.

Cameron

I couldn't do an agreed value policy because of restrictions on use. For example, cannot use the vehicle to do any errands. Problem at costco or publix, not covered.

Considering that one of my ex 928's suffered expensive damage at a florida costco due to a driver parking his cadillac and scraping the bumper down the side of my car as he pulled in, I realize that yes it is quite likely to happen.

If you guys have found a declared value policy that allows for real world use, please let me know.
I'd be interested to check it out.
Thanks.

Petza914

From a sheet included with my Hagerty Renewal documents this week. See "Flexible Usage" in the left column and call them on that to get the details.

polecat702

I have Hagerty, on 15 cars and my motorcycle collection. There aren't any mileage restrictions, but I suppose they know that with the size of my collection I'm not driving them everyday.
FWIW, I received a discount at renewal time this year because I have a large than most collection, and no claims. That did change this summer, had to have my windshield replaced in my 928 at Sharktoberfest.

Called Hagerty, they put a check in the mail that day, it was here when we got home. Covered the replacement 100%, plus tax. Great service.