Daly87 Posted 21May, 2018 Report Share Posted 21May, 2018 Hi everyone, I am on the hunt for a Boxster 986 S, however I am having trouble understanding the market values. Decent cars are in the high 20’s even up to high 30s. Red book puts these cars at 20-22k, which I understand is meaningless and a seller will not care. what I do have trouble with is calling a few insurance companies they value the car at 17-19k, and will not enter an agreed value instance for anything over 21k! How can people be buying cars for $xxk and insuring the car for $10k + less?? What are you doing in this situation? Link to comment Share on other sites More sharing options...
Dalai Posted 21May, 2018 Report Share Posted 21May, 2018 Tried Porsche Insurance? Link to comment Share on other sites More sharing options...
Tips Posted 21May, 2018 Report Share Posted 21May, 2018 A number of dealers try to sell you gap insurance knowing the car/finance cost vs agreed market value has that differential. Mainly on newer leased vehicles. Painful but true. With older lower value cars where the value crosses the cost to get new parts equation, it’s much tougher as any increased cover will flow into higher premiums. Also check if you do pay more that the policy covers choice of repairer and new OEM parts rather than second hand, I have seen this in some of the policies. Link to comment Share on other sites More sharing options...
D2000 Posted 21May, 2018 Report Share Posted 21May, 2018 46 minutes ago, Dalai said: Tried Porsche Insurance? +1 Link to comment Share on other sites More sharing options...
Daly87 Posted 21May, 2018 Author Report Share Posted 21May, 2018 57 minutes ago, Dalai said: Tried Porsche Insurance? I didn’t even know that was an option. Will look into it. This may be a deciding factor that means I don’t get a 986 S. I don’t want to chance one that’s not in the best shape but don’t want to pay a premium for a car that’s not insurable. Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 21May, 2018 Report Share Posted 21May, 2018 37 minutes ago, Daly87 said: I didn’t even know that was an option. Will look into it. This may be a deciding factor that means I don’t get a 986 S. I don’t want to chance one that’s not in the best shape but don’t want to pay a premium for a car that’s not insurable. What did Shannon's say? I've been able to keep the insured value of our 987S higher than the usual reducing value their system automatically spits out each renewal. I say a figure, they check it (perhaps against Car Sales????) and usually been OK. Think we have the car at around $38k which I think is probably pretty accurate. Mate has a mint 911T. After a mint one sold at Autoclassica a couple of years ago for an extraordinary amount he rang up and they increased it to within $20k of the auction value over the phone, with a further increase in value if he produced detail on condition to support the higher figure. Wife decided to let him drive it again after insured value was increased ? Link to comment Share on other sites More sharing options...
Daly87 Posted 21May, 2018 Author Report Share Posted 21May, 2018 12 minutes ago, TwoHeadsTas said: What did Shannon's say? I've been able to keep the insured value of our 987S higher than the usual reducing value their system automatically spits out each renewal. I say a figure, they check it (perhaps against Car Sales????) and usually been OK. Think we have the car at around $38k which I think is probably pretty accurate. Mate has a mint 911T. After a mint one sold at Autoclassica a couple of years ago for an extraordinary amount he rang up and they increased it to within $20k of the auction value over the phone, with a further increase in value if he produced detail on condition to support the higher figure. Wife decided to let him drive it again after insured value was increased ? Shannons wouldn't give me a quick indication/ quote, they needed more information about the car. I assume like you explained, they want to know the car is worth the premium? The only quotes I could get were from the major suppliers Allianze, AAMI etc who wouldn't budge on their value. PS. I have emailed Porsche Insurance now. Hopefully they comeback with a good offer! Link to comment Share on other sites More sharing options...
Troubleshooter Posted 21May, 2018 Report Share Posted 21May, 2018 You're doing your homework on the cars and you'll keep doing it til you get one at the right price - easy to see that.....Don't worry about the 2000 or 3000 difference between what you eventually pay as to what it's insured for. Stick with the S and you'll have $4000 more fun than non S in the first month alone! Link to comment Share on other sites More sharing options...
ANF Posted 21May, 2018 Report Share Posted 21May, 2018 When you are dealing with anything a little less than normal, the mainstream insurers are not your best bet. Shannons and the like (do a search on here as there are a few insurance threads) will look after you much better. I am with Shannons and the last 3 cars I bought are all insured for more than I paid for them - in the case of my 928 a lot more than I paid for it! Good luck Link to comment Share on other sites More sharing options...
Arnage Posted 21May, 2018 Report Share Posted 21May, 2018 I used Famous last time with the C4S. Must say I did not read all the fine print but basically it was a very good deal. Would recommend giving them a go Link to comment Share on other sites More sharing options...
Daly87 Posted 21May, 2018 Author Report Share Posted 21May, 2018 I called Shannon back on my drive home and I was put through to someone Much much better! We was on the phone for about 50mins talking about cars, he did a few different quotes based on various locations I was going to keep the car for the best price. Great help and gave lots of advice! Bottom line is they will insure what I pay, as long as I have a reasonable reason and proof it was worth it. 4 hours ago, Troubleshooter said: You're doing your homework on the cars and you'll keep doing it til you get one at the right price - easy to see that.....Don't worry about the 2000 or 3000 difference between what you eventually pay as to what it's insured for. Stick with the S and you'll have $4000 more fun than non S in the first month alone! Yeah I get a little OCD when I buy - I honestly get a lot of pleasure researching and making sure I buy the best one I can. Took me ages to buy my Supra TT! I guess I get it from my job too, researching and designing systems. 2-3k wouldn’t bother me too much, it was the insurance companies that were insuring for less than 19k who were causing me concern. Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 21May, 2018 Report Share Posted 21May, 2018 1 hour ago, Daly87 said: I called Shannon back on my drive home and I was put through to someone Much much better! We was on the phone for about 50mins talking about cars, he did a few different quotes based on various locations I was going to keep the car for the best price. Great help and gave lots of advice! Bottom line is they will insure what I pay, as long as I have a reasonable reason and proof it was worth it. Great result, well worth the effort then. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.