8 cylinder front engine iconic vehicle
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By Sazerac
Hi All

The Basics:
As I have understood it for many years, most insurance policies are stated value policies. The stated value corresponds to what is stated in some adjusters book, and does not really take into account cars that by nature of their condition are exceptionally valuable (like perfect original paint, etc.) or anything we might do to improve our 928s. If you want to protect yourself, you need to have an agreed value policy, in which you agree with your insurance company on the value of your car.

For my 91 GT, which has nice paint (but not original) and has about 75.000 miles, I paid KUSD 30 and then proceeded to buy about KUSD 25 in parts and services like GB refurbishment of my heads with welding, etc. On top of that I have about 500 hours of labor invested (most of it from the uber-competent Dave C). I figure the car is worth KUSD 70 to me at least, even though I would lose it at a loss at that price.

I am with AMIG and am paying about USD 900 for USD 70'000 in coverage for comprehensive and collision with 0 deductible and a 3.000 mile yearly limit. That having been said for no apparent reason they want to raise my rates by 10% (no claims, no tickets).

What are you guys out there doing for your agreed value policies? Are they also cranking up the rates? Curious minds want to know!
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By SeanR
I can offer absolutely zero advice as mine a daily and insured as such. I think my premium is about $1100 per year and I put on anywhere between 4k to 12k miles per year.
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By GT6ixer
I have my '84 automatic insured with State Farm's Classic Car Insurance. My car has $70K miles and I have it insured for an Agreed Value of $16k. I arrived at this number based on my own research of comps from completed sales of US '83/''84 autos. I have a $100 deductible and yearly premium of $424.

As I continue to restore the car and as values climb I plan to have the Agreed Value increased accordingly.

Hope that was useful
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By NCporsche
I’ve been with Haggerty for years. They wanted to insure the 944 for $15k and for a year I paid the premium hoping a deer would jump out and total her.

Dropped value to $7.5k at renewal and saved about $100 annually.

Haggerty is one payment annually.
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By jej3
If you have Hagerty, look into the "Cherished Salvage" option. It will add sub-$100 to your premium and guarantees you get the entire car back (for salvage rights) if the car is totalled.

What is on your car worth more than $100? Probably nearly everything that isn't totalled :)
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