Smiles

I'm in the process of buying a new home. It's time that I bought a more grown-up insurance coverage that includes my new more grown-up house, along with my cars.

The underwriter is Chubb, who I think is excellent. Until they ran my VIN for my 55k-mile original 993 C4S. They valued it at something like $18,500. I begged to differ, and suggested more than twice that. In the end, we agreed to find an appraiser, both for the 993 and other collector cars.

I'll let you know what we agree on. If I could replace a C4S for under $20k, I would be buying them all day long.

Matt

matt777

That is why I have bought classic car insurance for my Mopars. Its based on a stated value and backed-up by an appraisal. My '95 993 is eligible Jan 1 for this type of policy as it is now 15 years old.

gr1275

15 years is great... at last check, NC was 25!

rsr91128

Are you a PCA member?
If so you may try the valuation program listed here: http://pca.org/Membership/ValuationProgram.aspx

I have not used it, but because 993's now qualify I was wondering if anyone has used this for their benefit either before or after an insurance claim?

My car doesn't warrant this yet but maybe after a few more mods.

DC from Cape Cod

I had my car appraised and then insured it at appraised value - no mileage limits and no depreciation from appraised value. Cost less than my old plan too.

2Many Cars

Chubb will generally go with an appraised value from an accredited appraiser so that should work. The alternative of an agreed value policy with someone else is a good option too. Either way as long as the value is agreed in advance and isn't depreciated (which is what the mass insurers love to do) you should be fine.

Smiles

Thank you for that. I am indeed a PCA member, but didn't know that the Valuation Program existed.

I have no worries that Chubb will work out well. They insure some of the most famous cars that are actually used. (I'm thinking of the Ferrari P 4/5.)

I just got a kick that their normal Agreed Value based on the VIN was so low.

cabrio993

I hope that they don't use Bruce Anderson's undervaluated tables or you'll be better off with the insurance given value.

stuttgart_20

I work for a bodyshop that is factory authorized by several exotic manufacturers and chubb has always been one of the best (erie being the BEST). I am VERY surprised by this. If you have a local agent, call him and give him a 'nudge', you would be incredibly suprised @ how far you can get by doing that.

jungleboy

are you speaking of the valuation program?

ilko

I used the PCA valuation program as soon as I bought the C4S, just in case. I do it for all my Porsches. They came up with an average price of $47,020. (upper limit was 58K, lower was 35K). I can scan and post the document if anyone's interested in seeing it.

rsr91128

If you wouldn't mind to post a copy I would like to see what it consist's of.

Thanks,

DC from Cape Cod

Mine is a program offered by Chartis Insurance....I get the car appraised, they examine and approve the appraisal and my car is insured for that amount with no depreciation going forward.

RJT

If Joe Hartman is still the Valuation Chairman with PCA he is a 993 guy and knows what our cars are really worth.

ilko

Joe is still in charge, yes. I think his valuation is more on the optimistic side. The truth lies somewhere between him and Bruce Anderson, I'll let you guys decide exactly where...

Here's the file: