justinsrx7

I finally got my insurance issues settled so here are the details in case you also want to get 19A insurance.

My details:

• '78 911 targa with mods professionally appraised at $24K
• $1,000 deductible for collision
• $500 deductible for comprehensive
• O6A insurance rating (this is the highest rating awarded for no tickets or accidents in the last 6 years)
• $1M liability
• basic accident benefits
• 0 deductible direct compensation property damage
• family protection endorsement (don't know what that is)
• No limitation to km or driving
• Insured with Gore Mutual Insurance Co

The annual premium if I drove the car all year would be $1,928.00
The annual premium I will pay based on driving 7 months and storing 5 is about $1,300.00

Notes from my broker:

1. There are no restrictions on the 19A. The company will honour the value of the vehicle on the appraisal. No limitation to km or driving. The only thing a company would ask is for an updated appraisal probably about every 3 years.
2. The premium can be further reduced, by increasing the deductible.
3. The company my agent chose for my situation is the Gore Mutual Insurance Co. (this would vary from client to client as everyone's situation is different).
4. Basic accident benefits, if you are interested is a mandatory part of the policy all Ontario drivers have included in their insurance policies. It is the portion of the policy that pays for injury, time missed off work, rehab, medical, etc.

Some variables that will effect each individual:
At fault accidents
Driving record (recent tickets)
Number of claims

The woman I dealt with was excellent (no affiliation, just someone I found that has a brain):
Vicky Gallagher, R.I.B. (Ont.)
Private Client Services
Pearson Dunn Brokers
1-800-461-5087

If you talk to her, mention that you got her name from me (Justin). I got her permission to post her information and she will understand why you are calling.

Hope this is helpful.

Christien

That is SO helpful - thanks so much!!! I'll call them tomorrow morning!

justinsrx7

Actually, just an FYI that Vicky told me today that she is out at a conference all day Thursday but will be back in the office on Friday.

Turbodan

why is it listed as targa when it is cab?

njackett

That is some great information, thank you very much, I have been interested in a variable coverage for some time because I know that I don't drive my car all year. I will inquire with my broker.

justinsrx7

My car is a Targa conversion to a cab.

hoffa

Can someone explain the advantages to this 19A insurance policy vs regular insurance?

imcarthur

Thanks for the info, Justin. I will call her when I return.

justinsrx7

A 19A rider is typically for old or collector cars where the current value is not easily available in a black or blue book. These cars require a professional appraisal to determine their replacement cost. An insurance policy with a 19A rider will provide the holder with the total appraised value should the vehicle get written off.

Mark Lue

... and the insurance company doesn't have a problem with this??? Did you get them to make a record of this modification, just in case you have to file a claim.

justinsrx7

My appraisal which the insuance company based my policy on outlines all of the details of anything that has ever been done to my car.

92C2Targa#119

So how much would it be without the 19A? Half?
Also without 19A what would they value it at over the same three year period.

Looks like it is costing you 8% of the cars value for the 19A annually. Although, no depressiation for 3 years. That's a nice bonus. Just wondering what it would cost you without 19A : So if you have a write off w/o 19A what's the payout now or within three years.
Just wondering

justinsrx7

Actually, I was told that the car value is used for maybe 10% of the entire premium calculation. I got a quote from my current agent without a 19A and the price was exactly the same as the new insurance company with the 19A rider. Only problem is if you don't have a 19A policy on an old collector car, if the car gets written off, you will only get what they determine the value to be (very scientific rather than any nostalgia in the calculation). With a 19A, you will know exactly what you are going to get.

92C2Targa#119

Thanks, I am going to look into 19A for my 964.

justinsrx7

If you think it will be appraised for more than what black book has it listed at, then it is essential.