I’ve just been asked to supply a valuation for a Porsche 911 3.2 Carrera. It’s a common request for an agreed-value insurance policy. Insuring your classic Porsche in this way is a good idea, as there’s then less chance of any argument over what the car’s worth in the unfortunate event of having to make a claim.
The problem with classic Porsches is that an insurance assessor can’t just reach for a price guide and come up with an acceptable replacement value, as you would with a modern car. The value of the Porsche depends not only on age and mileage, but also on condition, service history, and what’s been done to the car over the years. OK, it’s unlikely that you’ll ever recoup the cost of a full restoration on a classic 911 but a restored car should be worth more than a scruffy original example. And there’s where agreed value policies come into their own.
So maybe it’s time you reviewed how your classic Porsche is insured.
