Mark Dreyer

Marine Blue

Mark I’m going the agreed value route on my Spyder for this exact reason. I will be doing the same on the 964. With current market conditions and the lack of inventory for good cars if something were to happen we would have a fight on our hands to be made whole if an accident were to happen.

il pirata

I am not worried about agreed value on the Spyder, the comps are there to get full restitution. Cheapest Spyder for sale by a dealer currently $99K, same on Autotrader.

I do have have agreed value on the 993.

guab

Comps do not (in all of my experiences) result in a higher payout with all insurance carriers (esp Geico). I have a rider which covers the gap between NADA (lowest) to what it would cost to buy. I do need to look at it again though, as my rider is a bit on the low side I think. NADA values my spyder at $81k.

If my rider won't be able to cover the difference I'll have to switch providers.

il pirata

Agree that with certain carriers this will/could be an issue.

digitalrurouni

Well looks like I gotta take a closer look at my Spyder's insurance policy. Bummer about that 964 though. I got a sinking feeling in the pit of my stomach when I was reading through that thread

blacksheepSpyder

I just switched this car only from State Farm for the very reason, they won't do agreed value. They said my 2016 spyder with 7900 miles was worth 64,000.

il pirata

They do do agreed value, I have it on my 993, but a Spyder is too new to qualify. Many agents and even underwriters do not know about the program!

https://www.statefarm.com/insurance/...e-classic-cars

Archimedes

Yeah, I'd tell them to go f themselves. Ask them to show you a Spyder anywhere for sale at $64,000. If you had a loss, you would get market value and it would be very easy to prove that $64k was not market value. KBB price, 8k miles, zero options, very good condition, private party range is $96.5k to $103.4k. My guess is they were looking at the wrong Boxster trim level.

rloggie

Got an agreed value policy for 110K through Grundy and AIG. MSRP 107K. Was with Liberty Mutual and a total loss would have cost me a bundle. Who knows what this car is worth, but I don't want the insurance company figuring it out for me after the fact.

guab

How do you guys handle having one car at Grundy, and the rest with a major carrier that you also have a massive umbrella policy with? Imagine the umbrella wouldn't kick in for an accident involving the vehicle on Grundy?

guab

They are not looking at the wrong model. Buyer beware. FYI, quoted GTS value was $9k less (and also seemed hilariously inaccurate). The internet seems to think trade value on that car is in the low to mid 40's but listing prices are in mid 70's still. Insurance providers are clearly using NADA/Edmunds data to value cars.

To your point, however -- I am wondering if the sale data it is using behind the scenes may be of the incorrect model, and that is why the number they are presenting is low. In their systems they are selecting the right model, but it has inaccurate data in the system attached to it.