cobalt

I have agreed value on my 94 of $85k which is all they would agree to two years ago. I am now told they will allow much more. So I need a value to present them without them questioning it and I won't get hurt if something happens.

The car for those of you who don't know is a 94 turbo 3.6 one of three known cobalt blue in the US and one of only two I have come across in the world with black interior and cobalt exterior. Paint is all original except front bumper which had been resprayed by the PO but perfect match. Has had clear bra since day one on most vulnerable areas so no rock chips. Interior is perfect although it is a 50/50 split with leather console, door pockets, seats front and back the rest is vinyl.

38xxx miles all records window sticker bill of sale CofA etc, has run perfectly without any issues, one speedline has minor blemish hardly visible unless you search for it otherwise the car is a 10 and multiple concours winner all day long inside out and underneath.

Has simple bolt on mods and very fast. Leak down and compression numbers are within 2% of each other and the car has no leaks. Cold AC, supple leather 6 way perfect supple leather seats in storage with Recaro Sportster CS seats currently in car. Upgraded radio and speakers, RSR front splitters, PLX data with intake, and exhaust temps, boost and AFR. Has factory exclusive and dealer installed carbon fiber dash and special Raid CF custom leather steering wheel. Car can be sold as is or easily converted back to stock. I have every original part including shocks, exhaust, dash, belts, orange side markers etc.

I am thinking in the mid 6 figures but what are your thoughts?

Metal Guru

I'll give you $999 cash right now
Seriously, I'd go $120k on your car.
I have to up my agreed value too next spring (currently sitting at $42k).

TT Surgeon

100-120k range

sccchiii

Based on the known sale prices of the recent 3.6s I'm familiar with my belief is $135k-$145k. I think the unique colors in these cars are going to be the standouts 20 years from now……who am I kidding, they already are. To me very few things are as awesome as the non standard colors offered on the 964 turbos. I had a "boring" black 3.6 quite a few years ago and I didn't get enough so I just went back to a black 3.3l. BTW (and I'm serious) please contact me if you ever want to sell your cobalt blue as its one of my favorite colors, and I'm sure it's not the first request.

RDH

^^ I agree with you ...135-150....Question...How's your garage layout as I see that you have a garage door on the right (facing) of the 928...

C2 Turbo

The max I can get on mine is I think something like $70's but then again the premium jumps accordingly too..

Currently paying $680/year for a regular one and for agreed value ($75,000) it jumps to something like $1600

Anthony, have you checked the premiums yet ?

MeanMachine

$150,000

e6tme

I just had a local registered appraiser (who also happens to be a Porsche owner and is on Rennlist) complete a full appraisal on my car. This was the crucial aspect in getting a stated value policy on it. He inspected the car, documented its condition in and out, took pictures and wrote a full assessment of the car with a market based valuation of $115K. I had two cars done at the same time, and each appraisal cost $200.

I'd suggest doing the same. You may have to send out a few inquiries to find the right appraiser that has a background and understanding (maybe even enthusiasm?) in Porsches.

I've had insurance pay off on a total loss (theft) of a car with a stated value based on an appraisal with no problem. It leaves the minimal amount of uncertainty on the table if you suffer a loss. Conversely, I had a friend recently get into an accident (other driver's fault) and suffer a total loss. He had thousands of $$ worth of receipts reflecting work that had been done, but without a stated value he will get a few cents on the dollar.

While my car has similar miles to yours Anthony, I know the condition of yours would definitely be graded higher than mine. I don't think $150K is unreasonable. Now whether your insurance company will decide to renew your policy is another question...

Igooz

^What e6tme said...

My insurance agent can do a "word of mouth" insurance coverage for me up to $75K. More than that I need formal appraisal. And Insurance is a game of probability, statistics, and actuary wonk...so, I only get coverage up to 75% of value on my cars. The probability of 100% destruction /theft is low IMHO.

Flachbau

1. Always insure for the maximum amount the insurer will allow. Always insure for stated value. The incremental premium increase is small once you get up there.

2. Gather up the highest priced market examples you can find (mileage etc. are not important for this purpose to insurers) and add to the average price of those examples the original undepreciated purchase and installation costs for all the extra stuff and insure for that amount. I suggest current and recent historical examples from high (over?) priced sellers such as Sloan, RPM, R&H etc.

3. My insurer (Safeco) had a list of approved appraisers (although I could use any certified appraiser if had wanted to) near me. I used one of these appraisers who used data and photos provided by me as to the car's value for a stated value policy under their 'classic car' program. I picked the value number and only had to prove 'reasonable' evidence to him as to that value - he otherwise had no idea what the car was worth and accepted my number. He never looked at the car in person and charged me around $200. The insurer then accepted his number and appraisal without question.

Ask your insurer for a recommendation on an appraiser and if you use one they recommend it makes it much harder for them to dispute the value later. Make sure the appraiser will work with the data you provide. If you want a reference to the appraiser I used I can provide that.

Flachbau

The issue is that the insurer will total the car if repair will cost more than a maximum of 80% of the value. Then if not a stated value policy they will try to screw you with a blue book value and you will have to fight them. So say you insure a $125k value car insured for $75k ... great ... but they will say the car is only worth $30k and total it for $24k max. Get solidly hit in the front or the rear and you will easily hit $24k. You will then have to prove the value to them - after the fact - and the fight is on. And the most you can possibly get is $75k which is $50k less than you car is worth. Not good and you will probably will have to sue them with (usually) no provision for recovering your legal costs.

cobalt

Haven't been receiving notifications lately didn't expect to see any responses.

Instead there's all this great sound advice.

I am working on finding an appraiser who understands these cars and checking premiums. My son starts driving next year so I need to discuss this with them also. Policy will not allow him to drive the cars until he is 25. I became the evil dad when he found that out. LOL

The garage is 32 x 36 and has a 16 and 10 foot extra high doors then a 3 foot exit door the far wall is all cabinets and an in floor scissor lift. So long as Cayenne isn't parked over the lift I can pull any of the cars in and out without issue. I change them depending on season and needs

Flachbau

Now that's nice!! Damn Nice!!! btw Safeco (not sure about others) gives sizeable discounts when auto is combined with homeowners + I was surprised how little a $1,000,000 umbrella policy costs - I recommend such a policy to everyone as you never know what happens in life.

MeanMachine

Cobalt, nice garage you've got.

RDH

Yes...I love your garage set up...I've gone through numerous floors etc over the years and am ready to try something new again...I'll need to revisit my insurance as well after hearing some of the informative comments here ...we are in a very sue happy climate in addition to having your cars appropriately valued...