Renewing my Hagerty for another year and with $12000 value.
73, 2.0 4cyl. Rust repaired and average interior and paint. Runs and shifts great. Driver category. Pedrini wheels new Continental tires. Dell 36 carbs.

They show $11k fair and $17 good. By their definitions it’s a fair and half and not quite a good. What do you think on valuation? Not enough? I still see average cars advertised in the $9-$10 range.

Maybe check the Excellence valuations or sales data from Bring a Trailer for comps.

If yours is an average car, the value is what you expect a like replacement will cost you, then it's fine. If you think it's worth more, in better condition than stated, they will often ask for an professional appraisal.

This is common with Hagerty, if you're asking for average 7/10 quality replacement value they likely won't ask you for an appraisal. But when you ask for a 9/10-10/10 value they will ask for the appraisal to back up your claim. In this case they may also ask you to have it reappraised every so often.

When I renewed Hagerty for both of my 914's I sent pictures and requested values quite a bit higher than that 17K and had no issues. My'71 is my first car and I've had it since new so to me it's priceless, but they at least thought it was worth at least 25K...
The '73 is restored and better than new, and will also always stay in the family so it is valued at more than 25...

Original 2L in decent nick seems to be high teens low 20's. Sub 2k for the fuel injection, I think your a hair shy of its replacement value.

I'd say at least 15k.

My average ‘71 is insured for $15. I would go $20k agreed value for a 73-74 2.0.

Bill,

It's always a good idea to over-insure a bit for cars which are appreciating when on the stated or agreed value policy - because that caps your recovery, which may not be enough after 6-12 months of price/value increases.

So you might want to go for the Good value & clean it up a bit, fix a few items to make it Fair.75 - Good condition, then take a bunch of pix (repeat & adjust values every year).

You might also want to price Grundy, Leland & the other classic car insurers who advertise in Panorama, Excellence, Hemmings, etc., & some of the majors do it too (AAA, State Farm, etc.).

PS - I agree & lean toward a $20-25K agreed value for a 73-74 2L, as others have said above. You may pay a few dollars more for insurance, but you'll have a better cushion on coverage for either repairs or finding a decent replacement.

Good Luck!
Tom
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What are they charging you for the agreed value?

I got an agreed value with State Farm. It was less expensive than Lealand because I could add the car on with my other cars for a multiple car discount.

Didn’t much care for Leland West. Every time I called them to change something on my policy they would always screw up the details and it would take multiple calls to straighten things out.

I haven't had my car insured for less than 50k for the last 5 years. Once my new motor is done I plan to bump it to 75k. It appraised for that for replacement value. Guy doing the appraisal's is more a Mopar guy but knows restorations. The key for that being you need to price it out at what it will cost a shop to replicate all the work. So when dealing with a more custom car. You can't just go buy one because there isn't another car like yours. Was kind of eye opening for me & changed my way of thinking. I could certainly build the car myself for a lot less. I would consider getting it appraised. With the value's going so nuts the last few years. It will probably appraise for more than you think

Really need to revisit my insurance, and the bolded text above really resonates for agreed value. I've had that old car for 28 years, and there's no way I'd be able to find one like it out there. "Better" 914s, sure. One truly like mine? No way. If I were to drop a good donor car and then ask a shop to build the same car, it would be fearsomely expensive...to the point that I doubt there are many insurance companies that would insure for that.

But it's time to approach it with a bit of the above and "Okay, if the worst happens, what would fill that hole?" I can think of 1-2 cars that would at roughly similar money to what I'd sell my car for. Maybe that's the right number?

This thread made me call my agent, Jake w State Farm (Really!). He said The car’s value was at $18,800. Andyrew has seen the car up close and said that value seemed about right. Thanks!

$175 per year 20k agreed value.

AAA.

73. Stock with a few suspension goodies.

I would go 18 to 20K for your car. It's a reasonable amount that the insurance company shouldn't have a problem with.

What Tom said

Wow need to talk to my agent, you’ve got my attention mine is AAA also, good driver no accidents with house and 5 cars, two drivers but the 914 is only me $473 per year agreed value $25,000 and all they know about the car is recently restored. I wonder if that’s California $$. Oh Just noticed your Southern California I’m in The bergs of Northern California.

I have 2 914's insured right now. first one is $140/year. 2nd one is $70. Both are antique tag but in PA, I can still drive them whenever I want.

I’ll be talking with my agent first thing Monday morning!
One more reason to love the 914world