what is it worth ? insurance calculations?

vwretrosteve · Post by **vwretrosteve** » Fri May 07, 2010 5:30 pm

Having registered my 356A for uk use I now need to make sure it is correctly insured -

I realise values are notoriously tricky to set - but any pointers would be welcome. I know what the car initially cost me, but I doubt I could find another A in comparative condition for that amount. I also know what I have spent and roughly what it would have cost if I hadn't done it all myself.

However the costings relate to expenditure and the sum of its parts rather than a running driving car in its present condition- all be it a bit of a hot rod .

I would be interested to hear how anyone else has addressed this, and also any advice as far as specialist insurance is concerned .

cheers
Steve

356boy · Post by **356boy** » Fri May 07, 2010 7:08 pm

well i bought my 'A' about 5 years ago for 14k mint condition

, sold it 2 years ago for 28k

now its up for sale at a german dealer for 85k euros

gutted

Paul @ P R Services · Post by **Paul @ P R Services** » Sat May 08, 2010 9:59 am

It's always a good idea to keep in mind the point of insurance ...
That is of course what will it cost to replace...

And also bare in mind that the buggers will try and knock you

P

vwretrosteve · Post by **vwretrosteve** » Sat May 08, 2010 11:41 am

tricky one isnt it ?

i

I guess as far as replacement costs go its something like £28-30k for a car in similar condition bodily etc , then taking into account the extras assuming the car is stock - 1720 + ancilliarys + build, wheels,tyres and then the interior and various sundries such as handles ,switches, rubber,glass, 8000rpm tach, aero belts, running gear -spindles etc -replacement chrome, bespoke carpet set.......... etc etc etc

bloody hell - I have just started to recognise what this thing has actually cost me

it didnt feel so bad at the time - spread over 6 months or so

I hope my mrs read this - I have no desire to be a eunuch

Helen · Post by **Helen** » Sat May 08, 2010 5:37 pm

have a look around at the for sale ads & auctions for 356a coupes this will give you a good idea of market value.

then have a chat with Phil Dunne of Hagerty insurance.. i found him very helpful with putting a value on my 356a cab as it's somewhat unique

.

58A - 71E · Post by **58A - 71E** » Sat May 08, 2010 10:58 pm

Steve, not many commiting to this one, my opinion FWIW (you did ask after all!) I'd be wanting a value for insurance of between 35 - 40K for your car

This is purely based on my limited knowledge of the market value of the cars today, the cost of parts - for which I think I have a very good idea

and the time / effort involved to recreate your car

vwretrosteve · Post by **vwretrosteve** » Mon May 10, 2010 9:34 am

cheers james - i think that is a pretty fair assesment - and it is also how i think the end valuation should be calculated.
cheers fpr the input

cubist · Post by **cubist** » Mon May 10, 2010 10:14 am

I have my A with Towergate on an agreed valuation basis of £45k based on replacement to the same standard. They have pics and details of modifications and couldn't be more helpful. I insure other classics with them and am about to change to a group 'single payment, cover-all' policy, the quote for which appears to be pretty competitive...

vwretrosteve · Post by **vwretrosteve** » Mon May 10, 2010 5:11 pm

cheers Cubist - food for thought regarding group cover

Jez 356 · Post by **Jez 356** » Tue May 25, 2010 11:38 am

HI vwretrosteve

Did you get a solution to your query about insurance valuations?

I am looking into getting my car valued for insurance purposes. I was hoping that maybe someone would confirm if the specialists offer a services?

My insurer Norton Insurance and also Lancaster have both requested to have a £30k value confirmed with a proper valuation from a specialist in that field.......???

Regards Jeremy

pb911 · Post by **pb911** » Tue May 25, 2010 12:00 pm

Steve

Once more FWIW I have a 70T with non original colour / interior and engine insured with Hagerty on an agreed value of £55k.

This is not what I could sell it for, but as determined before the cost of the car to reinstate. I am sure that this is very similar with 356 models as Phil at Hagerty said to me that any pre 73 911 is going to be £20k give or take and then add on extras such as restorative work which could be from £10-50k depending on car, and you get a notion of value - seemed common sense to me.

I don't plan to sell the car presently , so its outlay being more than its value is irrelevant .Nevertheless, if stolen / accident etc - then its not !

If your costs are bourne out with paperwork then there shouldn't be a problem achieving cover on what is intrinsically a new for old basis ?

Paul

pauldvern · Post by **pauldvern** » Tue May 25, 2010 12:06 pm

This has got me worried about the insurance on my car, I put the value at £35K, but from what people are saying maybe it should be a lot higher? A few of you have seen my car, what do you think?

Paul

pb911 · Post by **pb911** » Tue May 25, 2010 1:06 pm

Paul

I saw your car last week, but I think seeing the car is not the important point for the intention of this discussion - yes your / the car looks / is great etc , but this practice needs to be about obtaining car insurance to reflect the expense should you have to reinstate it to end up with the same car you have at present.

Hope that makes sense !

I can only use my experience here, as personally , I would hope to have a car that I know has had all the chassis / bodywork done, as per my existing car , and if I can't find one hitherto done , then I would have to do it all over again. I, therefore, worked out what it would cost today to do said same work to a car and presented my figure.

Thankfully, upon presentation of photographs / receipts we both agreed and accepted a mutual figure.

It's a shade harder for you to compute as you performed so much of the works yourself but labour cost is labour cost.

What would it cost you to replace your car with another built to the same standard should the worst happen ?

When you have that number it's the time to see if your insurer agrees !

In my opinion, and it is only that , your reckoning appears a tad low ?

Paul

cubist · Post by **cubist** » Tue May 25, 2010 2:05 pm

A small aside here but when it came to owners club membership on the forms, my insurers Towergate were more than happy to list DDK as a 'highly regarded, enthusiastic and respected club for historic Porsche owners' (their wording). The first time I haven't been asked if I was a PCGB member...

TheBaron · Post by **TheBaron** » Wed May 26, 2010 9:52 am

I have got the same problem but have had to accept that I will not be able to insure it for what it cost me:

My 1958 356A Roger Bray restored with lots of nice unique bits and Andy Prill engine and gearbox total cost in excess of £100k including cost of car.

The car is insured for £65,000

This is obviously top money for an "A" at £65k but dosnt even come close to replacement value.

I will just have to wait until the values creep up, and they will and make sure that it is always garaged and crock locked up at all times and just hope for the best.