MACH993

I'm looking for an agreed value policy for my newly acquired 993. My insurance company, AMICA, doesn't offer one. They recommend American Collectors Ins. and PCA has Leland Ins. as a sponsor. Does anyone have experience with either company or can you suggest someone else? Thanks.

ca993twin

I just switched all of my policies from AAA to State Farm, because State Farm can do a stated value on Rufus. I have not yet received the policy in the mail, but the terms sound pretty good for a limited use car. Very inexpensive for a $80,000 value.

CorrdoBrit

For me Leland was the cheapest with the least usage restrictions. You have to have a DD on a policy from another provider and they requested pics of the car and the location where the car is stored when not in use. Agreed value was $38K. Can't say how good they are in the event of a claim as I've not needed to use it, and this is the true litmus test for an insurance company. No point having a great quote when they try and nickel and dime you in the event of a claim.

NY32

I have my agreed value policy with Chubb. It is a recent purchase and they required a copy of the Purchase Agreement to establish the value.

MM993

I have AMICA for my regular cars and switched to Leland through the PCA to get a better rate and agreed coverage - happy with them so far.

Flying Finn

Steve,

Just head up in case you're not aware of, AGREED value and STATED value can be much different in the case when something really bad happens (car gets stolen etc.).
AFIK, AGREED value of $80k is is exactly that, $80K where as STATED value can be a lot less than that $80 that's STATED on the policy.

I'd double check with your agent since when I was doing some research I found out that State Farm will not do AGREED value, only STATED.

It's all fine and good is something minor happens but like I said, if you're car is completely gone, you might end up with lot less than $80K.

Maybe you already know this and are ok with it but just in case you don't....

crw

Example: for a $60,000 car

Comanies like Allste or State Farm use "stated value"

Benefit is: $400/year coverage which is pretty cheap

Risks: decide on actual value after the claim
after market parts
discount body shops

Companies like Haggerty or Grundy

Cost more: $1,100/year

But: agreed value, if car is stolen or totaled that is what you get
OEM parts
Porsche quality repair shops

There is no free lunch - you get what you pay for.

ca993twin

Thanks Flying and crw. I wasn't sure of the difference between "stated" and "agreed". As I said, I don't yet have my policy to review. The agent, of course, said there was no difference. After a policy review, I may move to one of the collector car companies. Thanks for the heads up!

ahenthus

I've been with American Collectors for over ten years and have always been happy with them. My 930 added about $250/yr including an upgrade to 5000 miles/yr. My other cars are limited to 2500 miles/yr. and the extra mileage cost about $50. This was on a $38000 agreed value. They have a very easy to deal with policy on increasing or decreasing mileage, value, etc. They'd be willing to change coverage or make any other changes, say if I decided to take a cross country trip or something like that. Very good people.