rk-d

Curious about the type of policies people are using.

Agreed value? New car replacement rider?

I currently have Traveler's and they will insure up to $250k with a new car replacement policy and up to 120% MSRP in the event of complete loss.

If I wanted an agreed value policy I'd have to go with Pure, which is what I use for my homeowner's insurance.

BoxsterG

The new car replacement is only good for the first year correct? After the first year, it basically drops to a standard policy based on what I was told a couple of years ago.
The agreed value policy seems to be the better option as they will pay you the fixed amount for a total loss. The real question is how much is the new car replacement vs. agreed value?

rk-d

New car replacement only lasts 1-2 years I believe.

My agent suggested looking into agreed value policies once that is not longer an option - at which point I'd probably need to look at Pure.

That's the plan anyway - I was curious how everyone else manages their insurance. This is far and away the most expensive car I've ever owned.

TampaTurbo

standard progressive here
what is the 12 month running for agreed value for good driver?

MaxLTV

Pardon my ignorance, but why is standard car insurance not good enough? Turbo (S) is not appreciating and is easily replaced, so if the car is totaled, a check from the insurance company should be good enough to buy another, right?

rk-d

I'm going to get the new car replacement rider. This will get me up to 120% MSRP if the car is totaled within the first year or two. Given the depreciation hit, I think it's worth having for not a lot of money.

I don't think I really worded my prior post correctly. My agent did not recommend getting agreed value policy. Since Turbos don't sell above MSRP (in fact mine being 7% below sticker) I concur that an agreed value policy is something I probably don't need to get. But I'm in uncharted territory, so I was wanting to make sure.

Not sure - I did not get that far.

Misplacedyankee

I have many cars covered by Haggerty and use agreed value - I can always adjust down, but in my case since I paid cash and don't have gap insurance it makes sense to keep it close to what I think its worth to replace.

I have been very happy with haggerty. If you have a few exotics or collectibles they are the way to go and their private client service is excellent. You also get full roadside etc as part of the deal, not that it matters on a newer 991 Turbo S.

sdg1871

Chubb. Agreed value

rk-d

Curious what you guys are setting for agreed value. Original sticker? Do you adjust this yearly?

Misplacedyankee

Whatever I think its worth - so for the 911 turbo S I have with CPO and it has 3500 miles 145K.

My Aston is at 100K which might be high

GT2 215K which is fair for 2009. GT3 105K.

I think the R8 is 100K or so

You call it! I have not bothered to adjust unless significantly different - the payment is nominal.

stealthpilot

I use GEICO for Car, Home and Umbrella. The Home is actually a Liberty Mutual policy provided through GEICO.

I don't bother to pay extra for Agreed Value. It's highly unlikely my car would be totaled or stolen and if it were, I can easily afford another one. Plus I've negotiated market value on behalf of friends with their insurance companies and I've never had an issue getting more than market price for private party sale.

porsche42

[QUOTE=stealthpilot;14013530]I use GEICO for Car, Home and Umbrella. The Home is actually a Liberty Mutual policy provided through GEICO.


Yup I have GEICO also. Had Mutual Liberty for years, thet were ripping me off. But I got it thru work so it was slight cheaper. All the cars, bike and house on GEICO now. Not sure I could easily afford another TTS, but a TT yes.

GTThre

Go with Chubb. I have had them on my cars, home, Umbrella for years. They will give you agreed value on your cars. They are great with claims.

I am in the insurance business and wouldn't give 2 cents for GEICO or Liberty. If you have high end cars and/or house, you want to be with a high end insurance company. Besides, read your policy, the lower end companies have written in their policies that they will replace parts with aftermarket parts. Do you want aftermarket parts on your high end car?? Be careful who you insure with. You may not believe you will have a claim, but when you do, you want a company like Chubb taking care of you.

porsche42

I went to 2 Porsche dealerships and asked who they used to fix body damage on their cars. I then went to both shops and asked about GEICO. They stated that when fixing a Porsche they (the shop) only used factory parts and highly recommended GEICO as opposed to Liberty Mutual or a lot of other insurers.

Although you are correct in that GEICO states it used "competitive auto parts" that are warrantied for life, according to them.

rk-d

Thoughts on Pure, out of curiosity?

Have them for my homeowners. I heard a lot of positive reviews from disinterested parties and they were making a push for higher income bracket when we went with them a few years ago. I know the company was founded by Chubb people.

We had Geico before - I was very unsatisfied with how they handled a claim on my wife's car, so we dumped them.