KVDR

I've been putting off getting an appraisal and updating my insurance - this thread is a good motivator to do that.

In the meantime, I've added Hagerty insurance with stated value at $30k CDN. If someone rear-ends me, I want to be made whole.

It's understandable, but absurd that you'd have to accept less, and then part-out your own car in order to get a reasonable amount back. Not to mention - if you wanted to get back into a 944, you still have to find a good one and there will still be additional costs to get it sorted. It's a huge investment of your own time and effort.

That other driver's insurance company is lucky you weren't driving a newer 911.

Markoneus

Hey Lart. Yes, totally understand that mine can't compare to an 88 or 89 Turbo S. Only sent them those to provide overall context, to say that if an 88 gets $21k, an '86 is obviously worth less, but certainly more than $5500 (their initial offer).

And great point that if I can part it out for another 8k, I'm doing well. Only prob is, I live in Manhattan, have no garage, and only minimum wrenching experience, so my only hope is to sell it to a guy who's willing to do the parting out, and then I obviously have to let it go for a low enough number so that the guy parting it out can make money.

Any chance you'd be interested in it? Would be curious to know what price a guy like you would still find it worth your while to pay. (Also, you're in LA? big shipping price from Hartford CT) Anyone know someone in CT who might be interested?

lart951

There is a guy in CT he is banned on this board he is not a bad guy after all I wouldn't be who I'm today if it wasn't because of him his name is Mike damiza or Mike hobocan his business is 944reanimation and I'm sure he'll pay more than anyone else on the east coast for your car. I on the other side don't part crashed cars, look what I got today 89 turbo S with 141k miles unmolested.

MM951

I want that body, bad. agggh

User 52121

What's wrong with that one, Lart? Another smog fail?

Bmuldoon

I just signed up for Hagerty. $30K guaranteed value for $50 less than I have been paying one of the major insurance companies. The piece of mind is a huge weight lifted given the time and money I've put into my car over the last 12 months.

lart951

yes, is a non op customer had a leak on the headers and couldn't pass smog, he purchase new headers from the dealer but never got a change to do the repair

docwyte

Nice Luis! Those are the kind of cars that pop up in Cali only, definitely not near me...

Markoneus

That's a beauty, Lart.

Love the big bolster seats.

How much, prey tell?

lart951

Paid $ 500.00 more than what your insurance company first offered you

KVDR

What a steal.

docwyte

That's a great car to sell to someone out of state where the emissions laws are more grounded in reality than Cali's are...

MM951

^agreed. What a shame they are worth more in parts than whole. What I would do to have a car that clean.

User 52121

Yeah.

Sadly he'll get more for it in pieces, and he's in it to make a living.

Markoneus

Hey all.

Wanted to post an update to this thread now that the insurance claim haggling is over. For those who are curious, in the end, the amount my insurance company paid was:

(drum roll...)

$11,000

(And this was after their first offer was $5500.)

After seeing all the various opinions on the value range for '86 951s, and taking into account my pretty high mileage (basically 160k) and aging paint job, I'm feeling pretty good about it. (Esp since Lart says he's picked up cars like mine for as little as $5-6k!)

For those who end up in the same position, I'll recap what I've learned/ went through:
1) It took nearly 2 months for me to get there, as well as probably 7-8 phone calls, 20-30 emails and uploading 40 documents to my claim. So settle in if you don't get what you like at first.
2) Get "declared value" insurance if you want to be sure you'll get what you think it's worth. I didn't have this.
3) Everyone thinks "insurance companies are out to screw you" and for a while, this is what it looked like was happening to me. But I learned they used a company called CCC One that uses a simple methodology for establishing value (comparing identical cars to yours within 100 miles of you that sold in the last 90 days) that works GREAT for a 2013 Honda Accord, but HORRIBLY for a rare 30 yr old Porsche, which is why they first only offered me $5500. (They actually couldn't find ANY that sold in my area in the previous 90 days, so just had two local small shops "guess" what it might be worth.) My persistence in probing how they arrived at their value got them to admit their methodology didn't fit that well for my case.
4) I submitted over 30 comps in the end, and my protests got them to raise their offer to $8600.
5) I still protested, said I really believed I'd have to spend at least $10k to get a similar car, and my company (USAA) said I could invoke a "Private Appraisal Clause" and hire my own personal appraiser. I did that (cost me $150).
6) My guy (an actual used Porsche dealer) and their guy (who did more research than CCC One) had slightly different opinions, but were only $200 apart. So in the end, their guy was very reasonable. I just had to push the situation a lot to get to him.

But most of all, I want to thank the Rennlist community--especially Lart in LA--for all your advice and help. And to PowerTech in NJ for all their info and perspective, too. http://www.pwr-tech.com/

I'm not buying a new (used) car for now, as I live in Manhattan and only used the car on weekends anyway. But might buy something new in the spring. If anyone wants to unload an '06 Cayman S or maybe an 01-03 996 at any point in the next year, keep me in mind.

Big thx,

-Mark