notcarbonated

I'm taking delivery of a highly-optioned 992 4S in about three weeks and I'm having some trouble finding a good insurance policy. Based on my research here and in the r/porsche subreddit, many owners use companies like Hagerty and PURE because they offer "agreed value" and OEM parts. Hagerty's online quote system denied me, I think because I plan to use the car as my daily driver with around 8,000 miles annually. Pure requires you to have your home included in the policy in order to get car insurance, but when I offered to do that they still rejected me because the household was not worth at least 3 million. All the other "agreed value" insurance policies from the major carriers only offer this on cars >10 years old and expect them to be driven on holidays/weekends...

The only other quote I asked for was from Geico, who I currently use to insure my Golf R. They said they'd insure the 992 for the same price I'm currently paying for my Golf, which is insanely cheap, but they'll only cover the Blue Book value of the car in case it gets totaled. Considering the options I added, this would mean losing at least $37,000 right off the bat. OEM parts are also not offered from what I can tell.

Can any other California Porsche owners offer any advice or should I just bite the bullet and go with Geico for basic protection?

CurryPuff

I was with Geico for my family X3 m40i and was being extorted about $320 a month as an expat in CA (CA doesn't take overseas driving records in to account).

I'm now with Progressive and paying $14XX/6months for the BMW and a 718 GT4. Exact circumstances and pricing will vary, but I'd recommend progressive for pricing.
No claims experience with them yet.

rickawd

I currently have Progressive in CA for my 992. No real complaints but my premium did jump up last year. I’ll probably switch to Hagerty in the summer.

ADsGT3

Grundy

ltcjmramos

Tara Sacco​​​​
American Collectors Insurance | CA Agency License # 0J05873
Collector Insurance Specialist, CA Agent license# 0N15747
Direct: 856-382-2592 | Fax: 856-779-7289 | www.AmericanCollectors.com

qwertya

@notcarbonated curious did you end up finding a good solution? In a very similar boat here - Progressive isn't giving me a quote at all; Geico gave me one but I'm not able to reach anyone on the phone to actually pay for it (seems to be a common thing these days based on similar reddit threads); Hagerty quote is pretty outrageous since I also plan to daily the car; Porsche Insurance sounds nice but isn't currently writing new polices in CA...wonder if going through a broker is the only way to go

notcarbonated

Hey @qwertya , I'm currently working with a broker from VIU by HUB International to finalize a quote from Mercury Insurance and I was waiting to see what the outcome of that was before updating this thread. Mercury is one of the insurers that offers "Replacement Cost" coverage, which should cover the true value of the car for up to three years in the event of a total loss (excluding from fire/theft, which I assume would fall under your homeowners insurance). Based on my research, none of the insurers will offer you "Agreed Value" if you daily drive the car. This was confirmed for me again and again, as you can see below. Some insurers offer "Stated Value" coverage, which is itself an improvement over the Kelley Blue Book value that most insurers offer, but in my experience this is only an option on cars which are at least 2 or 3 years old. New cars don't apply for this. So far, it looks like Replacement Cost coverage will have to suffice for the first couple of years before I can qualify for Stated Value.

Here's the status of my research so far...

Researching "Agreed Value" Insurance Policies for 992.1 Used as a Daily Driver

• Geico - Offers Kelley Blue Book Value of car in the event of a loss. Unclear if it will cover OEM parts (probably not). Unclear if uninsured motorist coverage for property damage is sufficient. Would need to request new quote if interested.
• PURE - Denied because homeowners policy did not include a minimum of 3 million in valuables.
• Hagerty - Denied because of daily driver.
• Grundy - “To qualify for MVP, you must insure at least three cars, one of which must be a collector car.”
• HUB International - Chubb had redirected to HUB International Insurance “VIU” site. Connected with a broker, who is checking on Mercury Insurance offerings.
• Progressive - Denied because car must be at least 2 years old for “Stated value” coverage and it only would be about $100,000 of additional coverage. No coverage for OEM parts.
• Mercury - Covers “Replacement cost” of vehicle.
• Chubb - Will need to be bundled with condo insurance policy. Denied because you need at least 1.5 million in assets.
• American Collectors Insurance - Tara Sacco​​​​ - Referred by @ltcjmramos Denied because of daily driver.
• State Farm - Stated Value Policy (not a protected amount…) - Requested quote from website. Still waiting for a callback.
• Liberty Mutual - Offers “Better Car Replacement”. Need to call and confirm if Uninsured Motorist Property Damage is included or not.
• All State - Offers “Replacement” option. Quote from Market Watch “Allstate offers coverage for vehicles two years old and newer, covering the cost of a new car of the same make and model.” Still need to confirm property damage coverage amounts in regular accident and with uninsured/underinsured motorists.
• Farmers - Need to get quote. Supposedly offers replacement in first two years.

ltcjmramos

Understand the daily driver restriction if you're putting on the average of 15,000 miles/year. The companies from which I solicited quotes allowed up to 10,000 miles/year. I guess I don't understand why at 8,000 miles/year wouldn't qualify, daily or not.

notcarbonated

Hey @ltcjmramos , so for what it's worth the agent Tara you referred me to was super nice and took the time to explain the situation to me. Most other companies I called just shut me down and didn't offer any other kind of advice. Tara said that for American Collectors the "Agreed Value" policy is only available for a second vehicle that you want to insure that's in additional to one you have already that's your daily. I appreciate that you responded to my post and pointed me to her because it helped me understand the lay of the land better.

ltcjmramos

Dakoster

Second the Mercury Replacement Cost option. Have had quite a few clients get that and since the Carrera triggers as a specialty vehicle sometimes the rate ends up being cheaper than Hagerty. Do note, replacement for Mercury must be purchased at time of vehicle pickup or within a few weeks after.