does regular ins cover ADM or Market value or Hagerty?
12-16-2018, 10:22 AM
#2
Rennlist Member
Search. There was a thread on this less than 2 weeks ago. Short answer, sure if you want to overpay for it, but no reason to insure more than MSRP because that is all it's worth.
12-16-2018, 01:31 PM
#3
Rennlist Member
Thread Starter
not if its a 911R, the other thread lacked details, i.e. how are Hagertys restrictions and does a "regular" company insure for actual market value
12-16-2018, 02:11 PM
#4
Rennlist Member
I have hagerty on a 911r at an agreed value, and they let you use the car, presuming it doesn't make it look like you're trying to take advantage of the program if that makes sense. Don't track the car though, thats a no-no. They are more concerned about where the car is stored, and they will make you dig up build info on it (year built and materials) sometimes so it's good to know that before you go for the policy. The policy is right around 6k a year when insuring something at the 200-600k level, doesn't matter what the car is it seems like. If you put more cars on the policy it will get cheaper. I would NOT run any policy like that on a modern, even somewhat replaceable gt3rs or gt3 given those numbers, youll get completely eaten with the rates.
12-16-2018, 03:48 PM
#6
Rennlist Member
Still makes sense to merge with that thread.
Yes, you can have a policy that insures almost any agreed value that is w/in reason of market value. "ADM" itself is meaningless to underwriter; all that matters is market and/or agreed value; call it whatever you want. You might have trouble getting a 10kmi White 997 4.0 insured for $1m. But you could easily get one insured for anywhere between $300-500k (w/in reason of market value); all of which are over original list, adm, blah blah call it what u like.
Yes, Hagerty is a good option for insuring above list. Every car I own is insured over original list and values are discussed every year when policy renews. I left Leland West for Hagerty a few years ago. They have policies/prices but much more flexible restrictions and less difficult process for adding/subtracting cars. I use Chubb in UK.
I posted similar in prior thread. Slightly more detail in this one.
Yes, you can have a policy that insures almost any agreed value that is w/in reason of market value. "ADM" itself is meaningless to underwriter; all that matters is market and/or agreed value; call it whatever you want. You might have trouble getting a 10kmi White 997 4.0 insured for $1m. But you could easily get one insured for anywhere between $300-500k (w/in reason of market value); all of which are over original list, adm, blah blah call it what u like.
Yes, Hagerty is a good option for insuring above list. Every car I own is insured over original list and values are discussed every year when policy renews. I left Leland West for Hagerty a few years ago. They have policies/prices but much more flexible restrictions and less difficult process for adding/subtracting cars. I use Chubb in UK.
I posted similar in prior thread. Slightly more detail in this one.