lets talk insurance

[thstone]

An agreed value policy is typically for cars that might be worth more than the simple "year, model, miles" formula. Not sure why you'd need an agreed value policy for a Boxster where the value is easily calculated and market values generally agree with the depreciation formula.

I use insurance to protect my assets and for "worst case" scenarios, not to repair a $10K car. Therefore, I have $3M in liability and very high deductibles (which means that I pay out of pocket for what would be a typical fender bender).

And as San Rensho said, get as much uninsured/underinsured motorist coverage you can get. When my silver Boxster was totaled, the driver only had $15K (the Cali state minimum) in liability insurance and the cost of the power pole that she hit was $12K itself. Thus, she was underinsured and my insurance had to pick up the entire tab to replace my car.

[TripleTrophy]

Do you need regular appraisals for an "agreed value" car? My brother has a '69 Lotus that needs appraisals about every three years. It is now old enough it is worth more than he paid, but possibly not paid plus maintenance.

BTW, I've read the Miata was the inspiration for the Boxster, at least from the point of there being a market for a two seat roadster. The Lotus Elan from the 60's was the inspiration for the Miata.

[jim_hoyland]

Originally Posted by TripleTrophy

Do you need regular appraisals for an "agreed value" car? My brother has a '69 Lotus that needs appraisals about every three years. It is now old enough it is worth more than he paid, but possibly not paid plus maintenance.

BTW, I've read the Miata was the inspiration for the Boxster, at least from the point of there being a market for a two seat roadster. The Lotus Elan from the 60's was the inspiration for the Miata.

I use Hagertys for my 1975 914. There is no appraisal; however their web site has a feature that will tell you the values for concurs, good and fair condition for your make and year. I only had to submit a picture to verify the condition. No milage limits, car can only be used for pleasure-not to work and back. Lastly, they asked for proof that I have a daily driver.

[RaisedOnPorsches]

Originally Posted by jim_hoyland

I use Hagertys for my 1975 914. There is no appraisal; however their web site has a feature that will tell you the values for concurs, good and fair condition for your make and year. I only had to submit a picture to verify the condition. No milage limits, car can only be used for pleasure-not to work and back. Lastly, they asked for proof that I have a daily driver.

How about showing proof of off-street enclosed parking? I keep winding up in living situations without garage space.

[jim_hoyland]

Originally Posted by RaisedOnPorsches

How about showing proof of off-street enclosed parking? I keep winding up in living situations without garage space.

Not brought up; they probably assume that collectible cars are inside. I have heard from others that the garage picture was required. And maybe just to see whether the car would be damaged in the event of a mild earthquake.

[mountainman]

+1 on hagarty. 2 of my porsches qualify with them as have dozens of other collector cars over the year. Great to deal with.

[Coffinhunter]

I have been with Geico for years. I regularly check for better pricing, and they have yet to be beat.

Of course my premium is frighteningly high for a family that has zero accidents and zero tickets. But I think that is because I have 3 teenagers, and four vehicles.