Mike J

Unless --- well lets not go there. It is an issue though as the prices for these cars rise dramatically, and with our local insurer no covering even DE events, it can mean a lot of money.

OverBoosted28

I was working and asked to go to a local (3rd mile asphalt oval) track to shoot radar and get speeds on the super modifieds at the end of the straight. It was early 90's, at the time, the Viper was brand new and at the break a guy brought out his brand new car to do some laps. Watched him put it in the grass twice and kept trying to go faster. 3 strikes and your out. He put it in the wall and it came apart like an dropped egg. Car was about a week old, total loss. That's what happens when your foot weighs more that your brain.

Basal Skull

Well, if you want to play, you have to be prepared to pay. I'm okay with that.

Nacelle

Great thread here. OP thanks for starting it....

Also, note to self to "up" the agreed value with Hagerty ASAP now way too low..... Currently 33K miles on the ODO with 3000 allowed miles a year.

Parnelli

Here is something that everybody needs to consider if their car is not stored in their home garage. I just called Leland West about insuring my 993 turbo. From time to time my turbo will be stored at an underground parking garage at a prestigious condo building nearby. I have a three car garage and four cars so I will swap out my two fun cars every once a while and keep the one that I am using in my garage for a couple weeks and the one fun car that I'm not using in the condo garage. This of course would only be during the summer months and my turbo would always be parked in my home garage about 8 to 10 months out of the year. Anyway, Leland West will not insure any car that will not be permanently kept in your home garage (I E no storage units). It is too bad, too, as there quote was very competitive. $850 annually for a $90,000 agreed value and allowing you to commute twice a week.

Parnelli

Another update. I just called Hagerty. Their quote seemed quite a bit higher than Leland West so I asked him why that is. The agent at Hagerty said that Leland West gives you a policy dollar value but they that they are allowed to pay "up to" that dollar amount…and that they do not agree to specifically pay you EXACTLY that dollar amount. He claims that Hagerty is the only company that gives you an exact dollar amount that will be paid off. So if you have a Leland West policy you better get it in writing that they will specifically pay you the exact amount of your stated value agreed policy and not a dollar less

Boober

I hate spreading gossip especially on subjects I'm not directly privy to or even fully knowledgeable on, but the reason I went with American Collector Car Insurance was because a number of folks advised me NOT to go with Leland West. Most were vague comments about them not honoring the agreement and hassles with claims. Again, no specific evidence so I'm really just passing the buck.

Johnny_law

Well some threads are just difficult to swallow. That's this thread for me.

I purchased my car last September to check one of the boxes off on my bucket list and to fulfill a life long goal.

Now I have a car that I insured 9mo ago that is way under insured with a company (Leland West) that I'm hearing may not come through when I need them. Also, I would love to do some DE so that I can truly experience and understand my car but realize it's going to cost me ~$1000 / day to insure for that scenario.

Now I need to decide if I want to add "loosing my shorts" on an insurance claim to my bucket list.

I just want to drive and maintain my TT. Oh well.

Johnny

Mike J

The value of these cars are so high right now that having a "beater" car to take to the track/autocross is starting to make more sense, even with the financial overhead. I was thinking about that when doing a 180 spin at my last event ---

It is a bit of a dilemma for sure.

Cheers,

Mike

TTKan

Perhaps these cars are going the way of the Ford Cobra - so valuable that collectors have the real deal (which they admire in their garage) and a modern replica to actually drive which, while not nearly as valuable, is superior in terms of performance and much cheaper to insure.

PiB993

What Parnelli says is kind of like what I heard from state farm. I wanted a second cheaper car to drive and was going to put the p-car in a 'collector car' storage facility but it would have cost me considerably more than if both cars were at the same spot. The place had other cars and race cars much more valuable than mine so it included a lot of security. I think if you chose your home it's a little cheaper still but put the cars all together and there's a significant discount than if they are insured at different addresses.

On to values what I see is current super cars getting sooooo expensive and technologically other worldly that old 993's and others look like a good value and as an 'analog' alternative (to have on the side). Not sure what inflation adjusted what prices are but I'm amazed how much Ferrari's and top level 911's cost now. In it's day the 993 Turbo was kind of a super car? Usually, it was compared to the F355 though.

Parnelli

As an update I did end up going with the Hagerty policy due to them being the only company that guarantee's a specific dollar amount if stolen or totaled.....no "guessing it's value after the fact.
Not very happy about the annual limit of 20 commutes to the office, though.
I'm thinking it may be time to get serious about actually selling this car .

AiRick

...

TTKan

A friend of mine had his 930 stolen out of his garage and had insurance with Leland West. He told me that they paid him for the loss promptly without any hassle and then immediately canceled his policy.

chsu74

^ Why would you still need an insurance policy on a car that was stolen and reimbursed by the insurer?