evoroadster

Sorry, I mistyped the amount per year. The correct amount is $5500/year.

theprf

My rule is to avoid insurance companies that advertise. The more they advertise the harder I avoid them.
The waitress, the lizard, the ostrich, the professor, all on the avoid list.
Because insurance is state specific you may not be able to do that - here in MA it's trivially easy.

islaTurbine

Yes they will so long as you have at least one Porsche on the policy. I recently had my NC3 Miata Club insured with Porsche Insurance.

SoCal911t

I have 2 cars with Geico and had 3 with Hagerty but now just two. When I sold the e30 last month, I went to Hagerty's website and canceled the coverage and waited for my partial refund since I was paid through the end of the year. A couple of weeks later sure enough, there's a letter from Hagerty except it contained a BILL for $47.00. That's right, they raised my premium for removing a car that had an agreed value of $15,000. I called them, and it was "blah, blah, multi-car discount, Blah, blah. Apparently two cars isn't 'multi' enough even though I can only drive one at a time. I broke my own rule and called them when I was fuming and ended up getting a refund for $98.00. I've been with them for 20 years but I'll definitely be shopping around before I renew again.

I've seen stuff on the local news about this. Crazy!
I recently changed my homeowner's policy from Farmers to Geico and aside from the usual mundane questions about the house, they also wanted to know how far away the closest fire hydrant is and how far the closest fire station is.
Maybe these are standard questions now but I don't remember seeing them before.

I would never do business with Liberty Mutual because they have the most annoying ads in the history of advertising. It takes all of my willpower to not heave a brick at the TV when one of their ads comes on.

Einsteiger

I started using American Collectors Insurance when I switched the house and other car to USAA. A-rated company.

Just paid the annual premium of $561.82 for an agreed amount policy for $30,000.

islaTurbine

ACI recently quoted me $3k for an agreed value of $115k on my Spyder. I’m currently paying around $1500/year for that same agreed value with Porsche, with no mileage restrictions. TIFWIW.

circuit.heart

Some of you guys are paying a scary amount. Progressive charges me around $240/year IIRC, it doesn't commute to work and I don't take it anywhere I'd be likely to be at fault. The premium is basically a legality cover and in a crash I either fix the car myself or the other party's insurance is paying for it.

islaTurbine

Have you checked to see what KBB values your car at? Because that’s the number that Progressive and/or the other at-fault party’s insurance will use. And they won’t pay for a Porsche certified shop either. You’ll get Billy Bob’s Bondo Blast or the equivalent of what they charge.

#beentheredonethat

SoCal911t

If I didn't care about Agreed Value and was just carrying the bare amount of coverage to be legal, I think my premium would be similar to that.

islaTurbine

KBB says my Arena Red ‘99 with 110k miles, XAA, LSD and full leather is worth $13-17k. Spot on, right?

stever996

The question is...how much more do you pay annually for what the difference is? Don't know your numbers...but, ex., if you;re paying $500 more per year for $5000 more coverage, you might be making a mistake. Increasingly, despite 996's increasing values, the value is hardly more than checkbook money, yah?

I pay $222/6 mos. for 3000 mile limit on an '01 996. Old, rural.

GC996

If you tally up the enhancements you made to your car such as suspension, exhaust, aero, brake kit, seats, wheels, IMSB, UAOS, sump, etc, and then look at the KBB, you will quickly realize why agreed value is so attractive.

Some auto insurers like Liberty have it. Most don't. You will take a bath in an accident without it. This is what makes Hagerty or Porsche Insurance if you can get it in your state so attractive.

I insure mine for $50k. Will probably take it up a bit shortly to maybe $60k. Why, because that is what it will cost me to buy another 996 with a good engine and then set it up just like the one I have.

islaTurbine

I have an Agreed Value on the car of $34k, which is double the top value of KBB’s joke numbers. I have a $5k deductible on the 996 so I’m essentially getting a $29k final value for a total loss event, which is still $12k higher than KBB (and therefore any non-Agreed Value insurer).

My 6 month base premium with Porsche is $144 and my per mile premium is $0.033. I drive her about 2000 miles every 6 months so my cumulative 6 month payment is about $210. This gets me full 250/500/100 coverage to comply with my umbrella policy, Added On type of UM/UIM coverage, guaranteed Porsche-certified repair shop, no mileage limits, and the Agreed Value.

YMMV

circuit.heart

KBB carries little value, in the past I've always shown the adjuster what comparable options exist on the market and gotten fair value when I needed it. If the damage is reasonable it'll be much less than that, so I'll take the money, fix it myself and profit. If it's enough to total the car we either do the aforementioned, or buy it back and part it out. I've unfortunately gotten a "free" car this way just a few years back, the savings on the premium was simply cherry on top.

If I had to park the car outside I'd be more careful, for sure. But the 996 mostly lives in my garage where my home insurance policy covers vehicle loss in case of fire/earthquake/etc.