jpmbozzle

Dear all

Ive been thinking for a while now that if good forbid something bad would happen would I really be getting what my car is worth. And ok if they fix it its fixed but it will never be the same and its value will not hold its own in todays world of carfax (nothing against carfax) but does anyone have an insurance company that they would recommend. Share your stories good or bad.

Thanks

Vorsicht

Do a search on here for "stated value" or "agreed value" insurance. There are a bunch of insurers who will agree to a 'stated price' and quote you a premium for that agreed value should the car be in an accident/totaled.

These types of policies usually have restrictions like 1. Must not be you primary vehicle. 2. Must be driven 5000 or less miles per year, etc..

One company that I see a lot here is Hagerty Insurance. Do shop around though. This is also sometimes called, "Classic Car Insurance".

kjr914

This topic has been discussed a few times...a quick Advanced Search will net you a bunch of info. Advanced search can limit by date so you only get more recent posts as well.
Other search terms: agreed value insurance, insurance claim, etc...

RickBetterley

Good advice all.
Note that some collector car insurance programs also exclude business use, which is reasonable, but unfortunately, even stopping off at the office for a moment has resulted in a claim denial.
I know - how stupid is that?

Kein_Ersatz

What if you work virtual office at home, then is every drive from and back to the "office" in violation

Despite their ads to the contrary (on your side, etc) the business of Insurance is to keep your premiums and not pay you unless required. They are not your "good neighbor". They use cold statistics and volume diversity to make a profit by collecting premiums and limiting payouts. The masters of fine print and "contract" speak. Do not listen to an agent (hearsay), read your policy. YMMV.

porsita

Insurance companies are a necessary evil and that's all there is to it
So get an agreed value policy and read all exclusions carefully
I got mine with Leland West through their PCA program
I couldn't even imagine submitting a claim through my regular auto carrier on the 993 if anything ever happened; just thinking about it is aggravating enough

KNS

There was a recent Excellence article about a guy with a 356 and nearly a million miles on it. Lots of commuting and work related over the years (how could you not with those miles?). I'm curious how he insures that thing with the current values of 356s.

jpmbozzle

I understand that there is Agreed value but what if the car is not totaled. the value at that point is still affected.

TMc993

Many insurance policies provide compensation for "diminished value" that results from accidents, etc. In my case, I received a check after being involved in an at-fault accident and having my car repaired (In an Acura, not the 993). I have no idea how it the payment was calculated, actuarial tables I presume.

Personally, my rule of thumb regarding car ownership and insurance is that I never buy a car that has a value greater that my financial ability to absorb its total loss. I get the best insurance coverage I can afford and don't worry about it after that point. For me, life is too short to do otherwise....