Porsche unveils official Rennsport Reunion VI poster, the artwork of which Porsche Cars North America (PCNA) commissioned for the upcoming rare, spectacular motorsports event in September.
Porsche Rennsport Reunion VI — The Event
Once again hosted by PCNA with support and assistance from the Porsche Club of America, Porsche Rennsport Reunion VI (as its “VI” implies) is the sixth iteration of “the world’s largest gathering of all generations of Porsche racecars and their drivers,” touts the PCNA announcement.
This year, Porsche Rennsport Reunion VI will be expanded from the three-day duration of past Reunions to an unprecedented four-day “family reunion.” Once again, this historic event is set at world-renowned WeatherTech Raceway Laguna Seca, just off the Monterey Peninsula, from September 27 through 30, 2018.
In 2015, Rennsport Reunion V attracted close to 60,000 fans from all over the world to Laguna Seca Raceway.
As was the case then, Rennsport Reunion VI will be another aforementioned family reunion of the largest gathering of vintage as well as contemporary Porsche racecars, their drivers past and present, their engineers, and, of course, thousands of Porsche fans from around the globe.
Rennsport Reunion VI is one of many events taking place this year to commemorate and celebrate Porsche’s 70th anniversary of its very first sports car.
Here are some links that you need to bookmark to stay up to date on the latest developments about Porsche Rennsport Reunion VI:
The official Parade Lap registration link (to purchase Parade Laps which went on sale on July 11, 2018, at noon EDT — supplies are severely limited and can be purchased only if you have already pre-purchased a PCA Corral Pass).
Porsche Rennsport Reunion VI — The Official Poster
The official poster for Rennsport Reunion VI depicts three significant players in Porsche motorsport history (from top to bottom):
The 1960 12 Hours of Sebring winner — the Type 718 RS 60 — Porsche’s first overall endurance race winner
The 2008 RS Spyder which, to everyone’s amazement, from its LMP2 Prototype class won races overall ahead of presumably more dominant LMP1 cars in the American Le Mans Series, and
The groundbreaking 959 Group B rally car, which not only won the punishing 6,200-mile 1986 Paris-Dakar off-road rally, but also subsequently evolved into the world’s fastest street-legal production car of its time.
The poster is a reproduction of the original painting by celebrated automotive artist Dennis Simon, the creator of four of the previous five Reunion posters. Here are descriptions of his previous Reunion works:
2004 Rennsport Reunion II poster — set at the 1968 24 Hours of Daytona as three 908s cross the finish line
2007 Rennsport Reunion III poster — depicts the formidable 917 and 962 in Gulf and Löwenbräu liveries, respectively
2011 Rennsport Reunion IV poster — adorned with Al Holbert’s 911 RSR from 1974 and the 1981 factory 935 long-tail, notoriously known as “Moby Dick,” in world-famous Martini Racing livery
2015 Rennsport Reunion V poster — rendered on this poster from the last Reunion are the 1970 24 Hours of Le Mans-winning 917 K, the now-retired Le Mans-winning Porsche 919 Hybrid and LMP1 WEC Champion, and the class-winning 356 SL at the 1951 24 Hours of Le Mans
Porsche Rennsport Reunion VI — Ticket Availability
As of this writing, very few tickets and General Camping spots for Porsche Rennsport Reunion VI are still available — but they won’t last very much longer.
Grab them fast while you can by calling the Laguna Seca ticket office at 831-242-8200. Also call this number to inquire about the availability, if any at this late date, of Premier and Reserved Camping reservations.
Porsche Cars North America, Inc., (PCNA) just issued a voluntary recall and stop-sale notice regarding certain 2017 Panamera and 2018 Panamera model variants. This 2017 Panamera and 2018 Panamera voluntary recall refers specifically to a subset of second-generation Panameras (Type 971).
To date, the Panamera recall alert applies only to Panamera models sold in the United States and Puerto Rico — about seven-hundred fifteen (715) Panameras, so far.
Porsche’s internal testing revealed possible issues concerning the Panameras’ connecting links. According to that testing, Porsche determined that the connecting links on the rear-axle anti-roll bar do not meet Porsche’s installation quality standards.
Here’s the potential issue: A connecting link could detach from the anti-roll bar. In turn, here’s the hypothetical result: The detached part(s) could make contact with the surrounding suspension components, thus damaging those components.
Fortunately, as of this writing, there have been no reports of any accidents or mishaps.
PCNA will notify all affected Type 971 Chassis G2 Panamera customers by mail about the voluntary recall. Those customers will thus receive instructions to take their vehicles to an authorized Porsche dealer.
Porsche wins both 2018 Le Mans 24-Hour GT classes – GTE-Pro and GTE-Am classes – in the 86th running of the 24 Hours of Le Mans classic.
This double win in both classes are Porsche’s 106th and 107th class wins in the 24 Hours of Le Mans is very special for Porsche – wonderful celebratory achievements coincidentally occurring during Porsche’s anniversary year of “70 Years of Porsche Sports Cars.”
The No. 92 Porsche 911 RSR led its GTE-Pro class through two-thirds of the Sarthe classic, and subsequently for most of the balance of the race. Their nighttime laps of the race were virtually flawless in defending their lead.
After a truly flawless 344 laps, the No. 92 factory Porsche 911 RSR whooshed cross the finish line first in GTE-Pro class on Sunday afternoon.
“An absolutely perfect weekend for Porsche,” noted Dr. Wolfgang Porsche, Chairman of the Supervisory Board. “You can’t wish for more than this in our anniversary year. It’s impossible to plan such a thing, but when it happens, it’s an indescribable feeling.
“Congratulations to the drivers, the teams and all the employees who made this success possible. It makes me very proud,” Dr. Porsche emoted.
In the “Pink Pig”-colored (aka the “Truffle Hunter”-liveried) No. 92 car, lucky dog Michael Christensen (Denmark) was behind the wheel to revel in the glory firsthand. Ecstatically his fellow No. 92 pilots Laurens Vanthoor (Belgium) and Kévin Estre (France) cheered him on from the pits.
“Today is one of the most beautiful – no, the most beautiful day – of my career: I’ve won Le Mans,” gushed Laurens Vanthoor. “I can’t describe my emotions and I still can’t believe it. Kevin, Michael and I complemented each other perfectly. The entire team was just brilliant today.”
Kévin Estre chimed in: “It’s simply unbelievable. I just can’t describe my feelings. Today is the best day of my life. We have won the world’s most difficult and wonderful race. That can’t be put into words.”
“It was an incredible race. I don’t know what to say. The car was fast right from the start,” added Michael Christensen, summing it all up. “We had a little luck during a safety car phase, and we managed to pull clear of the field a little. From that point on, we focused on extending our lead.
“In the final third of the race we simply tried to avoid taking any risks and bring the car home safely. This worked perfectly.”
The Pink Pig’s marathon triumph represents the unprecedented 106th class win for Porsche at the 24 Hours of Le Mans on the 8.47-mile storied Sarthe race circuit.
Equally stunning after an entire 24 hours, the No. 91 sister car took the checkers next in second place, piloted by Frédéric Makowiecki (France), in the GTE-Pro class. Fellow No. 91 Factory drivers Richard Lietz (Austria) and Gianmaria Bruni (Italy) also cheered on Makowiecki in their garage.
“Today is a banner day for Porsche – this double win is a wonderful gift for the 70th anniversary,” declared Lietz. “It was a great race, and it doesn’t get much better than first and second place. This shows that GT racing is the future and we need to invest in it.”
As the veteran newcomer to the Porsche works drivers, Gianmaria Bruni had the following to say: “This double victory is fantastic – for Porsche and our team. We had a great race and a great fight with our No. 92 sister car. We tried everything but our team colleagues didn’t make any mistakes and they deserve this win.”
Makowiecki furiously contended non-stop with the No. 68 Ford GT for more than hour. The Frenchman totally kept his cool all the while in his the blue-and-white “Rothmanns”-liveried 911 RSR, hanging on to second place for the most precious last third of the race.
“Our car was very fast, but we simply couldn’t keep up with our sister car, which was incredibly consistent,” confessed Makowiecki.
“For over an hour, I battled hard with a competitor for second place. That makes my job as a race driver really fun, but we couldn’t make up ground in this phase. I’m thrilled for the team with our second place at Le Mans. We’ll be back next year to fight for victory,” Makowiecki vowed.
So how is it so momentously possible that Porsche wins both 2018 Le Mans 24 GT classes – seemingly with the greatest of ease?
For one thing, Porsche had history on its side – Porsche has “been there, done that” so many times before that Porsche seems unstoppable over time at this rate.
This is very reminiscent of all foregoing triumphant times in Porsche motorsport. (Parenthetically, we thank and love you eternally, Baron Fritz Huschke von Hanstein, Porsche’s original motorsports impresario, in effect for inaugurating this long, unprecedented legacy.)
This year’s GTE-Pro victory represents the extraordinary 106th class win for Porsche at Le Mans. Amazing. . .
Not so happily amazing is what happened to the third factory Porsche 911 RSR, the No. 93 car. Piloted by Patrick Pilet (France), Earl Bamber (New Zealand) and Nick Tandy (Great Britain), No. 93 lost 25 minutes due to repairs and ultimately finished eleventh.
No. 94, the fourth and final factory Porsche 911 RSR, suffered an even worse fate. Shared by factory teammates Romain Dumas (France), Timo Bernhard (Germany) and Sven Müller (Germany), the No. 94 car retired after nightfall — the culprit: suspension failure.
“Obviously I’m really disappointed,” Dumas volunteered. Most of all I feel sorry for the team because the guys have worked hard and did a great job. But things like this can happen in motor racing.”
The second Porsche win came in GTE-Am, of course, memorializing the 107th class win for Porsche at the 24 Hours of Le Mans.
The No. 77 Porsche of the Dempsey-Proton Racing customer team crossed the finish line first in its GTE-Am class. Porsche Young Professional Matt Campbell (Australia), Christian Ried (Germany) and Porsche Junior Julien Andlauer (France) shared driving duties in the No. 77 Porsche.
Julien Andlauer is now the youngest class winner at Le Mans, at just 18 years old.
“At 18 years of age,” enthused Andlauer, “I was given the chance to contest Le Mans for the first time, and then we won. I’m very proud of the whole team and I can’t really believe it yet. Now I’m the youngest Le Mans winner – incredible.”
Patrick Dempsey, co-owner of Dempsey-Proton Racing, had this to say about his team’s against-all-odds win: “I’m lost for words. Everyone did a fantastic job – it was a victory for the whole team. The race was incredible – we made no mistakes and our work was rewarded with this great success. I can’t tell you how incredibly proud and happy I am for Porsche, too.”
The No. 99 Porsche 911 RSR of the Proton Competition customer team finished just one place away from the third step on the podium. Finishing fourth in class, the No. 99’s All-American team consisted of Patrick Long (Manhattan Beach, California), Porsche veteran pilot Spencer Pumpelly (Atlanta, Georgia) and rookie Timothy Pappas (Boston, Massachusetts).
“It was great fun driving the car here,” Patrick Long mused. “I particularly enjoyed the night stints. The lights on the new 911 RSR are a great development. We’re very pleased about our sister car’s victory in the GTE-Pro class.”
Patrick Long’s WeatherTech teammate in the GT Daytona class and Porsche Selected Driver Christina Nielsen (Denmark) finished in sixth place in the No. 80 Ebimotors Porsche 911 RSR. Christina ran the race along with teammates Fabio Babini (Italy) and Erik Maris (France).
“Sixth place is a very good result, because this was our first time at Le Mans,” explained Christina Nielsen. “We worked hard and made very few mistakes. I’m very proud of the whole team. We will improve and hopefully be back next year to compete.”
Long and Nielsen will resume their IMSA competition during the Six Hours of The Glen on the July 1st. Both drivers will team up once again in their Wright Motorsports Porsche 911 GT3 R.
The No. 56 Team Project 1 Porsche 911 RSR finished in seventh place in GTE-Am class. Works driver Jörg Bergmeister (Germany), Egidio Perfetti (Norway) and Park Place Motorsports principal / driver Patrick Lindsey (Santa Barbara, California) shared driving duties in the No. 56 car.
Competing in the WEC during the 2018-2019 “Super Season,” Lindsey made his debut in the Sarthe 24-hour marathon.
“We experienced a race of mixed fortunes,” Jörg Bergmeister confessed. “At one point things looked really promising for us and we were within striking distance of second place.
“However, unfortunately we were hampered by brake problems towards the end of the race and fell back. But we’ve gained a lot of valuable experience, which will help us in the future.”
Bergmeister and Lindsey will return to North American shores (in their own Park Place GT3 R), as will Nielsen and Long, all four campaigning in their respective GT3 R cars at the six-hour endurance classic at Watkins Glen in two weeks.
Consisting of team pilots Mike Wainwright (Great Britain), Ben Barker (Great Britain) and Alex Davison (Australia), the No. 86 Gulf Racing customer team was on the receiving end of a punt by an errant car on the course. The accident knocked the No. 86 car all the way to the back of the field shortly after the race began.
The Gulf team’s pit crew fought tooth and nail to repair the car. Once the racecar got back out on track, the No. 86 Porsche clawed its way back up the leaderboard to finish in a very respectable tenth position – all things considered.
Speaking for the No. 86 team, Ben Barker asserted, “Unfortunately we couldn’t bring home the result we wanted after 24 hours. The car was very fast over the entire race distance, even after our accident. The team did a brilliant job and made no mistakes. The accident at the start was simply bad luck.”
As Porsche wins both 2018 Le Mans 24-Hour GT classes, the triumphant Stuttgart-Zuffenhausen automobile manufacturer stretches further ahead of its competitors in the drivers’ and manufacturers’ classifications of the FIA WEC world championship.
“Victory in the GTE-Pro and GTE-Am class underlines that we’re doing everything right at Porsche in both factory and customer sport,” declared Pascal Zurlinden, Director GT Factory Motorsport. “We were able to extend our lead in the manufacturers’ classification and we also moved into the lead of the drivers’ category. All in all, a perfect day.”
But perhaps Oliver Blume, CEO of Dr. Ing. h.c. F. Porsche AG, summed up the double-victory result best by concluding, “…Porsche belongs to Le Mans and Le Mans belongs to Porsche.”
Aaaah, there is no substitute. . .
Christensen/Estre/Vanthoor (DK/F/B), Porsche 911 RSR, 344 laps
Lietz/Bruni/Makowiecki (A/I/F), Porsche 911 RSR, 343 laps
Hand/Müller/Bourdais (USA/D/F), Ford GT, 343 laps
Pilet/Tandy/Bamber (F/GB/NZ), Porsche 911 RSR, 338 laps
Ried/Andlauer/Campbell (D/F/AUS), Porsche 911 RSR, 335 laps
Flohr/Castellacci/Fisichella (CH/I/I), Ferrari 488 GTE, 335 laps
Keating/Bleekemolen/Stolz (USA/NL/D), Ferrari 488 GTE, 334 laps
Long/Pappas/Pumpelly (USA/USA/USA), Porsche 911 RSR, 334 laps
Babini/Nielsen/Maris (I/DK/F), Porsche 911 RSR, 332 laps
Bergmeister/Lindsey/Perfetti (D/USA/N), Porsche 911 RSR, 332 laps
Wainwright/Barker/Davison (GB/GB/AUS), Porsche 911 RSR, 324 laps
Porsche Cars North America (PCNA) recently announced its May 2018 Porsche USA sales figures — 5,005 customer deliveries.
This is the second month in a row that Porsche has delivered over 5,000 cars each month. It is also the fifth consecutive monthly record since January, yielding year-over-year growth of 4.2 percent.
When looking at the big picture, this translates to sales increasing by 6.4 percent for the first five months of the year with 24,529 vehicles, compared to last year’s sales of 23,052 units at the same time last year.
“This is a new level of Porsche fascination,” mused Klaus Zellmer, President and CEO of PCNA. “May was the first time our dealers delivered more than 5,000 cars a month for two months in a row, after April’s all-time record of 5,570.
“The story of this year so far is the strong performance across our model lines, from the iconic Porsche 911 and 718 to our new generation Panamera and best-selling Macan.”
Once again, the growth leaders this month were the 718 Boxster and 718 Cayman, with a combined sales growth of 31.8 percent since last month.
The Macan also showed its characteristically consistent growth to date, coming in at 29.5 percent. Not far behind was the latest-generation Panamera, rising by 16.7 percent over May of last year. The iconic 911 grew by 6.7 percent.
Porsche Cars North America (PCNA) just released its sales figures of 5,570 vehicles sold in April.
The announcement from Atlanta ballyhooed this news with some understandable excitement, as these numbers represent a new all-time single-month sales record for Porsche in the good ol’ U. S. of A.
This tops the previous record of 5,555 sales units set just this past November 2017.
This April’s figures translate to a 0.7 percent increase over April 2017. Year-over-year retail sales spanning the four months also trended with even greater upward mobility at 7.0 percent, at 19,524 units.
“The Porsche mix of two and four-door sports cars is getting a broad welcome from customers. We see this in the strong April demand that crosses model lines,” affirmed Klaus Zellmer, President and CEO of PCNA. “Our 189 dealers are continually improving the customer experience, and this certainly is an essential factor for our mutual success.”
The 718 Cayman, which increased sales by 67 percent year-over-year, represented the greatest April growth. The Macan demonstrated its remarkable staying power with gains of 32.5 percent compared to April 2017.
Other model lines manifested their own upward sales trends. The 911 (+12.1 percent), the new generation Panamera (+71.5 percent), and the 718 Cayman (+67.0 percent) drove up double-digit year-over-year increases since January.
How to choose the best car insurance is the question. You must confront that crucial query head on in pursuit of your own best interest.
If you don’t, you could find yourself in deep doo-doo in the event of a declared unrecoverable theft or declared collision total loss of your exotic car, classic car, collector car or expensive sports car.
How to Choose the Best Car Insurance? Agreed Value, Actual Cash Value or Stated Amount?
Like all car guys and car gals out there, I can relate to the blinding passion that sometimes consumes us all when we at long last snag that elusive car of our dreams.
Among other things, that dream-car obsession can also blind us to good ol’ common sense about taking the right actions to protect that vehicle. More important, it tends to stupefy us and our ability to think rationally about fully protecting our financial interests.
Thus that dream-car obsession blunts our thought processes like going on a bender so that, more often than not, we fail to ask ourselves that critical question: How to choose the best car insurance?
In short, we all need to properly and fully bullet-proof our financial interest when it comes to our precious collector automobiles in the catastrophic event of a total loss.
Total Loss can and should be defined as the following language illustrates:
The subject vehicle of a claim is declared a total loss when the appraised damage is declared to be rendered “irreparable,” (at least) or when the repair expenditures exceed a pre-determined percentage (i.e., the standard industry average of about 80 percent, give or take) of the insured value of the vehicle (at most).
How to Choose the Best Car Insurance: Introduction to Exotic Car, Classic Car, Collector Car and Sports Car Insurance
I know, I know. Talking about insurance is excruciatingly dull stuff – even less thrilling than watching proverbial paint dry, for sure. Definitely not my favorite subject matter either. It’s the only way to figure out how to choose the best car insurance.
But I want to help you get the most bang for your buck in terms of financially protecting your Porsche or any other car you desire. So, yes, talking insurance is a must.
Together let’s glean how to choose the best car insurance — i.e., how you can obtain the proper insurance coverage — for your cherished exotic car, classic car, collector car or sports car or even your high-end daily driver, whether it’s a Porsche or any other premium marque of your choice.
I’ll do my best in plain, easily digestible English to explain both the major and finer points of how to choose the best car insurance. And I’ll do my best to simplify the subject matter — hopefully without becoming simplistic in my discourse.
First we’ll start with the generalities if that’s all you want to take away from this article on the insipid subject of automobile car insurance. But then, if you need more detail, we’ll drill down further to some of the minutiae of classic car insurance so that you can figure out how to choose the best car insurance.
The Trilogy of Car Insurance
As you’ve probably gathered by now from the start of this article, the three types of varying protective-coverage flavors are “Agreed Value,” “Actual Cash Value” and “Stated Amount.”
But I’ll cut directly to the chase: In most if not all cases of figuring out how to choose the best car insurance, you want to make every effort to acquire an insurance policy that covers your precious vehicular asset with the “Agreed Value” form of coverage.
We’ll get to that momentarily. But first let’s explore why you should avoid the other forms of coverage and thus opt instead for “Agreed Value.” Here’s why:
“Actual Cash Value”
Probably the most common form of car insurance is Actual Cash Value. This is the type of policy that most of us carry on all of our daily drivers. All of the major insurance companies provide this type. They insure the thousands upon thousands of new cars that most of us buy each and every year.
In short, your vehicle is valued by your insurance company atthetimeofloss. This valuation is a depreciated amount predicated on the make, model, age, condition and options of your automobile. It is calculated by commencing with what your vehicle had cost you bought new, then deducting percentages against each year of your vehicle’s age. In addition, further deductions are assessed for anticipated “wear and tear.”
So, in an Actual Cash Value policy it’s not stipulated in advance what amount the insured (that’s you) will receive. In contrast, an Agreed Value policy by definition indeed specifies this amount at the time you purchase your policy.
In other words, the Actual Cash Value is what your vehicle is worth in a cash amount just moments before you suffer your heartbreaking collision or theft.
After your accident, your insurance company will send one of its adjustors out to the storage yard or facility or wherever your car is in the meanwhile sequestered. The claims adjustor will evaluate the damage, employ the valuation research sources of choice, and thus determine the final claims settlement offer to present to you.
Chances are, it won’t come anywhere close to what you had hoped for. If the gulf is extremely too wide for your liking, then you may be forced to engage the services of a lawyer or mediator to reduce that vast difference to a resolution.
However, you may be barred from hiring an attorney. Your Actual Cash Value policy may stipulate that you must resort to arbitration as your only recourse to rectifying your unfortunate plight.
Another risk you incur is that your insurance settlement may end up being less in value that the balance amount of your still-outstanding loan – yet another major gap in your coverage.
In any case, getting into an accident with an Actual Cash Value policy is no fun. Instead, it’s just one big headache after another – especially if your sweet motorcar is a classic or collectible car or an exotic automobile or a sports car. It’s definitely not how to choose the best car insurance.
“Stated Value” or “Stated Amount”
A Stated Value or Stated Amount insurance policy specifies the insuring of your vehicle for less than its true value or worth. In exchange for this hefty concession – oh, goodie! – you get to insure your car at a not-at-all-proportional, slightly lower premium.
Bottom line, Stated Value or Stated Amount policies determine how much premium you, the insured, pays – NOT how much you get paid in the event of a vehicular loss.
In essence, then, the Stated Value concept provides your insurance company with the loophole which allows them to take the fallback position of settling with you for – wait for it – pennies on the dollar as follows:
The insurance company will pay the lesser of:
The Stated Amount or
The cost to repair the covered vehicle at an amount not to exceed the “Stated Amount” [oh boy,here it comes. . .] or
The ever-depreciating “Actual Cash Value” of your automobile
So, a Stated Value or Stated Amount policy is little more than an Actual Cash Value policy that sets an upward ceiling limit on how much your insurance company will pay out on your claim.
Worst of all is the fact that this type of policy gives the insurance company the wherewithal to depreciate your vehicle’s value and deduct the amount further south of that value. In short, your settlement is limited most likely to your car’s Cash Value – which will probably be lower than your policy’s Stated Value. Again, this also is not how to choose the best car insurance.
“Agreed Value” or “Agreed Amount”
So as initially alluded to above right off the bat, here’s why you should – no, why you must – land an Agreed Value (aka Agreed Amount) policy for your exotic car, classic car, collector car or sports car:
Agreed Value is the only insurance coverage that guarantees – in writing – that you’ll receive the mutually agreeable specified amount stipulated in your insurance agreement in the event that your automobile is totaled or stolen within the period of your policy.
For you, the critical factor of an Agreed Value or Agreed Amount policy is to settle on a value that you believe your vehicle is worth. This amount must be a mutually-agreed-upon value that your insurance company approves and agrees to cast in stone in the language of your policy at the time of its writing and purchase.
Aaah, now this is definitely the starting point of how to choose the best car insurance.
How to Choose the Best Car Insurance: The Essentials of Agreed Value
Origins of Agreed Value
Grundy Insurance founder James A. Grundy, Sr., is credited with originating Agreed Value policy-writing way back in 1947. Mr. Grundy began selling these newfangled policies to fellow car guys and buddies in hopes of prompting them as to how to choose the best car insurance for their collector and classic cars.
His friends needed a way to protect their collector cars and cover their restoration costs. These collectors and gearheads also wanted to somehow indemnify the appreciating values of their classic and collector vehicles.
Since then, collector- and classic-car insurance companies have sprouted up over the years to fill the niche and provide this service to the demands of an ever-expanding market.
One of our fellow members of the Porsche Club of America, the late Harold “Holly” Leland Bromberg, was another major player in the field of Agreed Value automobile insurance. After moving to Fresno, California, in the late 1970s, Holly pursued Agreed Value insurance, covering limited-use collectible automobiles.
Mr. Bromberg then founded and operated Leland West Insurance Brokers., Inc., which still provides Agreed Value insurance. As a PCA member, he concentrated on writing such advantageous AV policies for his fellow PCA members. To this day in the wake of his untimely passing, his company enjoys full endorsement from the Porsche Club of America.
The Agreed Value of Your Vehicle
This Agreed Value is the amount that you and your insurance company mutually agree upon once you decide to purchase your policy.
You would be very prudent to study the language of your prospective policy beforehand. Check the Physical Damage portion to make sure that it reads something to the following effect: “In the event of a total loss or theft, we, the insurer, will pay the Agreed Value of the insured vehicle….”
Plain and simple, easy peasy. If you don’t find very similar language in your prospective policy, find another insurance company.
And if the policy language says anything like, “Insurer will pay the Actual Cash Value or the Stated Value, whichever is less,” don’t walk — run like hell away from that deal.
So, now, I hope you’re starting to get the hang of how to choose the best car insurance.
Setting the value of your vehicle
Value your vehicle under your Agreed Value policy as closely as possible to its true worth as determined through your research, homework and due diligence.
Because underwriters want to insure your vehicle for its true market value and your investment in that vehicle, your accurate stated worth of the car will ensure that you recover your due value in case of catastrophic events visited upon that vehicle.
The following websites are examples of resources with tools to value your car(s), but this is by no means an exhaustive list (and the listees are not endorsed nor sanctioned by StuttgartDNA, but are instead included here for informational and illustrative purposes only):
The dollar value of “Agreed Amount” stipulated in your policy can be changed by endorsement. This is a good thing for you.
You should remain proactive over each term of your policy with regard to that mutually agreed upon Agreed Value. Before policy renewal each year, the “Agreed Amount” should be changed, if necessary, to reflect the potentially appreciated current market value of your prized automobile(s).
Drilling down further, you should adjust the Agreed Value not only annually pursuant to renewal, but also during mid-policy. You should do this so as to align the true value periodically with the various stages of your automobile’s restoration, for example, and the actual incremental appreciated value of your vehicle over time.
This not only helps you when it comes to how to choose the best car insurance, but also keeps you in play with the best car insurance.
Negotiating and Landing Your Ideal Agreed-Value Policy
Obtaining an Agreed Value policy for your mutually agreeable value is relatively easy. But there are a few hoops through which you may be forced to jump. Additionally, there are due-diligence steps you should also take – as Mom would say, “For your own good.”
A lot of the topics — those aforementioned hoops — listed below can be overridden, so you won’t have to comply with them as described. But remember that it will come at a price — i.e., at an incremental increase in your premium for the override of each one (e.g., a daily driver, limited mileage, restricted use, garage storage, etc.).
To help you navigate through these topics, here are the clickable suggested steps you need to take to help you figure out how to choose the best car insurance:
My listing this here is stating the obvious. It goes without saying that a reckless driving record is going to definitely hamper your ability to acquire a coveted reasonably priced AV policy for your classic, collectible or sports-car machine.
If you have a bordering-on-criminal problematic driving record, I have no plausible, rational methods for you as to how to choose the best car insurance with that dark cloud hanging over you.
You should be ready, willing and able to document your vehicle, its restoration and its claimed value for which you are applying for Agreed Value insurance. This is one of the keys to assist you in how to choose the best car insurance.
For example, if you are or have been restoring your car, be sure to document that restoration with before-and-after photographs and all receipts and documentation that apply.
You can’t have too many photos or supporting documentation to acquire insurance for your vehicular baby.
Be sure to choose an insurance company that is authorized by your state’s Insurance Department. Also make sure that the carrier provides Agree Value insurance approved by your state’s Insurance Department.
This, of course, isn’t an insurance-company requirement. Instead, it is a due-diligence requirement on your part to research on your own. This is, rather, a suggestion for you to CYA, if you know what I mean.
Such “paranoia” may not be necessary when it comes to the large, well-known carriers. But if you’re thinking about smaller, lesser-known companies, then you should follow through in taking this advice.
Choose an insurance company with an A.M. Best rating of A or better
Choose only from among companies that have earned A, A+ or A++ ratings from global insurance-rating firm A.M. Best. This requirement is yours to determine. The insurance company doesn’t require this. You must determine this through your due diligence in your research which is in your own best interest.
What is the significance of an A rating or better? It means that the carrier or underwriter bearing such a rating possesses strong financial stability and strength as well as solid creditworthiness. It also indicates a great track record of paying out past claims. An A stands for “excellent” – or better if the A has a + or ++ after it.
Alfred M. Best founded the firm in 1899. Ever since, the company has blossomed into the oldest and most respected ratings provider focusing on insurers and the insurance industry in over 90 countries across the world through its A.M. Best Rating Services, Inc.
If you want to be proactive and obtain an insurance carrier’s and/or underwriter’s rating on your own, click here to go to A.M. Best’s rating page.
But before you can use the service, you must undergo New Member Registration by clicking on “Sign Up” in the upper-right-hand corner any webpage on the website. Start the registration process by entering your email address and creating a password.
Then, once you log in, you’ll be good to go to access the Ratings page. Click here again to access the rating page once more if necessary and then enter an insurance company’s or underwriter’s name in the blue search box entitled “Search for a Best Rating.” Then click on the green-shaded “Go” button to obtain the desired rating.
Finally, remember that a rating of A or better goes not only for the insurance carrier you’re thinking of signing up with, but also for the underwriting companies covering claims under that insurance company’s policy. Don’t be shy about asking the prospective insurance companies whom their claims underwriters are as well as what their underwriters’ A.M. Best ratings are.
Choose only one insurance agent, if at all possible
Using only one insurance agent isn’t a requirement for obtaining an AV insurance policy. But it will ultimately make your life and management of any future claims so much less stressful. The crucial point here is that you will have to deal with only one point of contact to manage all of your insurance policies and claims.
Also be sure to screen that agent to determine if he or she has an intimate knowledge of, as well as actual experience with, the world and passionate hobby of collecting classic, exotic and collector cars.
That agent should also have an established and firm relationship and rapport with the company that will be underwriting your AV policy. Such a relationship will ensure that your agent has the authority and clout to help you settle your claim as expeditiously as possible to meet and even exceed all of your expectations.
Many companies require that you possess a co-insured daily driver. The idea is that you presumably will drive that vehicle for the greater balance of time, as opposed to the vehicle to be insured at Agreed Value.
In other words, insurance companies that provide Agreed Value insurance want to know that you have another car to drive to work and for any other daily use – so that your Agreed Value vehicle will be driven for the far lesser balance of time.
Most Agreed Value companies and their policies limit your collector-car’s annual mileage to a pre-determined amount. However, if you do your due diligence, you can find a select few insurance companies that offer unlimited mileage under their AV policies, though it may (or may not) cost you a slight increase in premium.
Not unlike limited mileage discussed above, many insurance companies limit your driving privileges to only pleasure driving of your AV automobile. As alluded to above, your coverage may not apply if you have an accident on your way to work, or in the course of running errands. Consequently, you may be restricted to using your AV automobile only for car-club events, car shows or concours d’elegance competitions, among other similar hobby-related activities and events.
Yet again, though, shop around for those companies that are a little more lenient in this area. They’re out there, but you have to ferret them out.
Prove you have an enclosed garage required for storage
It stands to reason that you should properly store your classic automobile or cherished sports car. Most if not all AV insurance companies feel the same way.
So my advice to you is to take plenty of photographs of your garage and your automobile stored in that garage. Have these photos available at your fingertips in digital JPEG format if and when any of your prospective companies request them.
Insurance companies providing Agreed Value insurance policies prefer matching liability coverage limits – and if they don’t, you should.
Specifically, both liability amounts and uninsured-motorist / underinsured-motorist limits on your daily driver(s) should match the coverage limits on your Agreed Value sports-car or collector-car policy.
That is, bodily-injury liability limits as well as uninsured-motorist / underinsured-motorist limits should be the same amount across all vehicular policies.
So what happens if, instead, you happen to have varying coverage amounts on any or all of your other vehicles? Then your attorney – should you be in the most unenviable position to need one – can work a deal to exhaust one policy amount and then tap into and exhaust the next policy amounts to cover the litigation monetary value for which you’re be sued.
Obviously, this potentially nightmarish scenario is a total hassle – not to mention increasingly costly because the meter keeps running on your legal fees during these mismatched shenanigans. Setting matching limits can prevent all of this.
By the same token, it’s best to set identical uninsured-motorist / underinsured-motorist limits to the amounts of your bodily-injury limits to become fully covered and to eliminate any coverage gaps.
But bear in mind that there’s nothing wrong with your sports-car or collector-car policy holding higher limits than your daily driver, however – just as long as it is on par with or higher than the limits set on your daily-driver policy.
Medical payments limits are not as critical, so the limits may or may not have to match, depending on the policies on offer.
Get additional extra coverages if you feel you need it
So you’re narrowing down your shortlist of the most attractive Agreed Value carriers for your AV physical damage coverage. Now it’s time to delve deeper to compare any available extra coverages.
For example, you can include such things on your policy as audio equipment, wheels, and even luggage that was designed to match your automobile, or any other special accessories that are of exceptional value to you.
So make sure to itemize any such special items when negotiating your policy. The additional costs applied to your premium may end up being more than worth it.
Establish the right to select the collision shop of your choice
You may have to pay extra for it, but make sure to declare reserving the right to choose your own auto-collision center. Or, this right may be a built-in feature of some policies. Either way, look into it for sure.
This could be critical in taking possession of your collector car as one that comes out of the collision center like or better than new – or like an inferior shadow of its former self that will never be the same again.
If you own a Porsche, definitely make sure that you are able to choose a shop of your own selection. Porsche maintains the Porsche Approved Collision Center Program – its own program of approving collision centers that conform to Porsche’s very high repair standards.
It’s imperative that you can choose one of these Porsche-approved shops to put your sweet baby Porsche back together again at least as good as new. The best way to make this happen is to take your baby to a Porsche-approved collision center.
In this day and age of high-tech, cutting-edge Porsche electronic systems and various exotic metal, alloy, aluminum and composite body-panel and chassis components, you’ll at least have a fighting chance at one of these approved centers.
Obtaining only OEM parts to repair your automobile is also critical. Although, it may be easier than the immediately aforementioned choice-of-shop issue to get this feature placed in your policy as a freebie.
See, insurance companies prefer dodging exposure to such sure-to-lose litigation. Many an insurance carrier in the past has been on the losing end of such liability battles. What gets them into trouble is requiring installation of aftermarket parts that, by definition, are inferior in quality to OEM parts.
So obtaining OEM parts during your vehicle’s time in the shop may be a non-issue – but make sure that your policy stipulates OEM parts to be on the safe side.
There are other insurance issues besides the ones above. These other issues are lesser known and more detailed in their definition and scope. So I’ll do my best to discuss them with you and elaborate on them as clearly as possible for you without getting into the weeds.
So when it comes to how to choose the best car insurance, the finer points of classic-car insurance are as follows:
In the lingo of Wikipedia’s legalese, “diminution of value” is defined as “… [The] measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate compensatory damages.”
. . . Zzzzzzzz . . .
Simply put, “diminution of value” for our intents and purposes equates to the difference between your sports-car or collector automobile’s value before an accident and its value after collision repairs or after its recovery after a theft.
This represents the amount you will be compensated by your insurance company — provided that you were pro-active enough at the time of the crafting and drafting of your prospective policy to make sure that you had such a crucial provision stipulated in your policy.
Key here is diminution of value as it pertains to your vehicle’s originality. This can be best described as the “fine-arts value” of your car in the sense that such originality cannot be replicated through any efforts or amount of repair or restoration.
Examples of cases when your automobile’s value can and will diminish include, but are not limited to, the following:
Vehicles that have been customized or restored by renowned, recognized masters who are now deceased (e.g., the incomparable Boyd Coddington, et. al.) and therefore can no longer bring your damaged vehicle back to its original state of being
Your automobile’s original paint and/or original bodywork have been irreparably destroyed
Parts that have matching-number IDs that are destroyed and therefore have to be replaced, which will substantially diminish the value of your prized vehicle
Significant mileage added to a stolen, and then recovered, highly restored or near-perfect original vehicle could radically diminish the value of that super-low-mileage vehicle
The problem with filing a diminution-of-value claim without having the coverage to begin with is that the weighty onus of proof is entirely yours to bear. So definitely keep diminution of value in mind while you’re considering how to choose the best car insurance.
Part and parcel of your guaranteed indemnity against inflation and market appreciation is found in securing Agreed Value coverage.
You can actively participate in guarding against this contingency by increasing the Agreed Value listed on your policy. This is done by securing an endorsement to that effect.
However, the good news is that, if you choose the right insurance company and policy, this adjustment will occur automatically without any input on your part. Now that’s using your noggin when it comes down to how to choose the best car insurance.
Such an inflation guard will normally establish a value increase on your insured vehicle by typically 2 percent each quarter, up to maximum coverage of approximately 8 percent each year.
But this, along with most if not all of the aforementioned options, is dependent on you pro-active due diligence in pursuing the inclusion of these aspects in your policy.
This, of course, as you may recall, was discussed briefly in the StuttgartDNA Tip at the top of this article. So let’s flesh out the concept a little more here.
“Total loss” as defined above may be declared when damage is calculated to be irreparable or whenever estimated costs to repair the vehicle exceeds a predetermined percentage of the automobile’s Agreed Value. This percentage usually hovers around 80 percent.
Among other issues besides restoring the safety of your vehicle, the declaration of total loss can also result from such factors as the complete unavailability of original replacement parts. Another related factor could be the prohibitive cost to fabricate such parts.
Both scenarios in turn can dramatically escalate the repair cost to exceed the car above and beyond its insured value.
There is one proactive measure you can pursue to mitigate the dire prospect of total loss: Get your hands on a policy that provides flexibility in adjusting the Agreed Value of your automobile on a yearly basis before any such comparable loss occurs.
Ideally, you should seek out a policy that allows a mutually agreeable increase in value at any time it may be necessary. This could become a critical factor in the event that you are, for example, in the process of restoration and your vehicle thus appreciates over the course of that restoration.
Hopefully, the insurance company that you choose will have well-qualified damage appraisers. Such appraisers should come from a background as participants themselves in the collector-car hobby.
Thus your particular appraiser would probably have the superior ability to accurately and fairly assess the value of the damage to your automobile — and they should be well prepared to be able to determine whether or not your car should be deemed a total loss.
If you’ve chosen the right insurance company, then perhaps that company can navigate you through your possible options should you indeed suffer a total loss (e.g., obtain a salvage title as described in the StuttgartDNA Tip directly below).
As a last resort, you may be able to make the best of your total loss by way of the salvage title:
Your cherished-more-than-life-itself classic car, collector car or sports car has just been declared a total loss. You’re heartbroken. Utterly devastated beyond description.
What will you do now? Is there anything you can do but resign yourself to your wretched fate?
There may be a means of consolation, a type of answer to your prayers, so to speak. It’s called accepting a salvage title on your totaled automobile, and then buying it back.
But definitely be on your toes in this pursuit, because navigating the rocky shoals and waters of salvage titles could be a pretty tricky endeavor fraught with many perils. And salvage titles are in fact against the law in some states.
Alternatively, you could secure the original title if your insurance company agrees to work with you to declare your vehicle as simply a partial loss.
This is accomplished by crediting the buyback price from the cost of repairs to restore your automobile as close as possible to its original condition before the declaration of loss. But that’s a whole ‘nother kettle of fish that you should explore on your own.
In a nutshell, by going the route of the salvage title, you could retain your vehicle by buying it back to use as a parts car. But, of course, this depends in large measure on your particular situation and on the actual damage to your now-totaled automobile.
Ultimately, though, your “insurance” (pun intended) against having your vehicle declared a total loss and thus juggling the issue of whether or not to deal with a salvage title is securing the best Agreed Insurance policy in your power.
Yet again, it comes down to how to choose the best car insurance.
Coverage gaps can and will occur if you’re not on your toes.
For example, what if the at-fault buffoon who collides with your cherished sports car or classic automobile does not have the necessary coverage to pony up the cost of repairing your vehicle?
You should know by now from the discussions above that the solution to this problem is having the proper Agreed Value coverage. Such coverage also guards against the dreaded possibility of receiving a settlement under Actual Cash Value coverage that wouldn’t cover the cost of your outstanding loan balance on your totaled automobile.
Then there is the scenario that your car could enjoy the enviable prospect of dramatically escalating in appreciation. What would you do if you found yourself in such an enviable position in the event that you didn’t take the recommended action of increasing your coverage?
The answer is, seek out those Agreed Value insurance companies that pay out in excess of 100 percent of your stated replacement value. Yes, such companies do exist — some even paying as much as 150 percent of that stated value. Once again, you just have to ferret them out.
As alluded to above under “Negotiating and Landing Your Ideal Agreed-Value Policy,” some of the steps you can take to plug up any additional gaps are as follows:
Make sure your coverages for Bodily Injury Liability limits on your daily driver and your classic car(s) match in value as closely as possible – including Uninsured-Motorist / Underinsured-Motorist coverage limits
Strive to have one insurance agent to handle all of your policies and claims
Specify customized or additional coverages if you feel you need it
This post on how to choose the best car insurance is by no means intended to represent the be-all and end-all of classic-car insurance discourse. You should consult insurance professionals and/or a legal professionals who can inform you of the full scope of details and repercussions involving the complicated intricacies of Agreed Value insurance.
Consequently, my foregoing discussion with you is intended solely and exclusively as a primer on Agreed Value insurance to enlighten you and guide you on the basics, thus steering you in the right direction in what your future due diligence and research should entail.
Well, I hope I have indeed enlightened you much more than confused you with the dull, dry, comatose-inducing ins and outs of classic-car insurance. Somebody had to do it. . . ! Happy hunting for that ideal Agreed Value policy that will most optimally cover your automotive pride and joy — now that you know how to choose the best car insurance.
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Let us know your impressions, your experiences in getting your own insurance coverage and perhaps any experiences — very satisfying or horrendous — in settling claims on your Agreed Value policy.
Start the conversation on your own efforts in dealing with the question of how to choose the best car insurance, or join in on the conversation, now by leaving a reply.
How buying a new Porsche can save you money could be easier than you think. It’s just a mandatory matter of discretionary options, options, options.
Essentially, just the act itself of buying a new Porsche can save you money — or so purports an unattributed article in Excellence magazine’s 2017-2018 Edition of its Porsche Buyer’s Guide.
Is a New Porsche Really within Your Budget?
Actual Out-of-Pocket Cost vs. Depreciation Cost
Such a claim of saving money by buying a new Porsche may seem counter-intuitive. After all, think of the appreciable amount of depreciation incurred just as soon as any new car pulls out of the dealership’s driveway. (See my article on buying a CPO Porsche for further details on depreciation, for example.)
Nonetheless, the article – titled “Saving Money Buying a New Porsche” — makes a compelling case. In short, the article demonstrates how buying a new Porsche can in fact save you money. (You can access it by clicking here to get the magazine’s Porsche Buyer’s Guide.) It also presents a second scenario of custom-tailoring your ideal Porsche for track days.
How High the Cost of Options?
It’s no secret that Porsche’s myriad options result in myriad revenue streams. Purchasing such options have augmented the company’s bottom line virtually ever since the fledgling design firm moved from Gmünd back to Stuttgart shortly after WWII.
In a nutshell, Excellence article’s thesis argument is that the base price of any new Porsche is relatively within reason — but the final sticker price has skyrocketed into the stratosphere.
If you don’t believe me, check your blood pressure after studying various stickers at your local dealership. This is because of all of the tacked-on options seen on each loaded vehicle in any given dealer’s on-lot inventory.
According to Excellence, here’s the antidote:
Select the model of your choosing with the base price that comfortably fits within your budget
Come to a decision on the bare-minimum choice of options that you desire, and
Order that personally optioned and now-within-budget Porsche of your dreams from your neighborhood authorized Porsche dealer
Porsche Germany Factory Delivery: The Porsche European Delivery Program
Furthermore, here’s an awesome “option” unto itself: With all the money you’ll be saving by eliminating any undesired vehicle options, the article suggests that you should take advantage of those substantial savings by taking delivery of your custom-built Porsche in Germany!
Next, cast off on the dreamiest vacation of a lifetime — driving your brand-spanking-new Porsche across Europe. Then, once back home, you can relish the delightful anticipation of taking possession of your personally-broken-in bespoke Porsche after it’s shipped back to your local dealership in the States or in Canada.
(If you live outside of these nation-states, check with your local dealership to see if the Porsche European Delivery Program is available to you, and/or find your country’s Porsche website by clicking on the “country website” link in the second paragraph below.)
The Configurator will not only allow you to embark on your quest by configuring your exact chosen model. It will also enable you to familiarize yourself with all of the available options you don’t want – and, more important, with all of the options that you definitely can’t live without to equip your dream Porsche.
Read the Original Article and Sub-Article for Further Study
List of Manufacturer’s Suggested Retail Prices by Model
So, to give you a head start on following the article’s sage advice, I’ve posted PCNA’s spreadsheet of all 2018 base prices for all Porsche models.
These are all of the bare-minimum prices without any options, and also excluding the current destination charge of $1,050. Use the spreadsheet to choose your particular desired model and then to determine that chosen model’s base price for your own budgeting goals and needs.
Happy hunting in whatever Porsche-seeking scenario you’re pursuing. Start your mission by perusing the spreadsheet below:
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In the LEAVE A REPLY section at the bottom of this page, please post your commentsnow about this article.
Let us know your impressions, your experiences in searching for a Porsche to purchase and perhaps any experiences — very satisfying or horrendous — in finding and buying that Porsche.
Start the conversation, or join in on the conversation, now by leaving a reply.
Porsche Cars North America, Inc., (PCNA) released its latest sales figures for March 2018 Porsche USA Sales. The importer and distributor of all Porsche cars and SUVs in the USA reported sales units of 4,756 vehicles for the period.
“We are pleased to see such a strong customer response for the first three months of the year, especially for our Porsche 911, the 718 model line and the new-generation Panamera,” affirmed Klaus Zellmer, President and CEO of PCNA. “Overall, this is an excellent first quarter for Porsche in the United States.”
These announced sales figures set a new all-time Porsche high for the month of March; this translates to a year-over-year increase of 6.2 percent. Including the record months of January and February, first-quarter deliveries are up 9.7 percent from last year, to 13,954 vehicles.
Leading the way for March were the 718 Boxster and 718 Cayman, which combined to set a growth in sales of 45.1 percent, followed by the iconic Porsche 911, up 35.4 percent year-over-year from March 2017.
Also impressive were sales units of the Panamera, which increased 27.1 percent since the latest iteration of the model line went on sale at this time a year ago.