Insuring your Porsche: Part 1 – Classic Porsches By Justin Husman Photo by Jim Hirsch orsches are some of the most beautiful performance machines built, and they occupy P an interesting position in the automotive world. They are the exotic car you can drive every day comfortably, they are the daily driver car that you can track comfortably, and they are the collector car that you can buy at a dealership without an invitation. As such, they can be tricky to insure correctly, and all insurance isn’t necessarily correct. This is the first in a three part series about insuring your Porsche, and today’s topic is insuring your classic Porsche. 14 July Classic car insurance is different than insuring a daily driver. Classic polices are written on an “agreed value” basis, which is different than most insurance. When you purchase a policy for your everyday car, at the time of loss the car will be valued at actual cash value – whatever they are selling for today. As we all know, classic Porsches are not listed in bluebook, and it seems that their values go up every year. With an agreed value policy, you are able to set the value of your car before you purchase the policy, so you know exactly what you will be paid at the time of loss. This results in a “no negotiation” claims process, painless and simple. Classic agreed value policies do have some stipulations, which vary from company to company. All of them require the car to be garaged, and most require limited driving. A lot of people think that means that you are only allowed to go to shows and parades, but in reality, it means staying within your mileage plan ( generally somewhere between 1,200 – 3,500 miles a year). You must also have a daily driver automobile for each driver in the household. Right now, I know some of you are saying, “But my Porsche isn’t 25 years old, so how does this apply to me? Thanks for wasting my time, insurance man.” In order to qualify for an agreed value classic type policy, the car must be either 25 years old, or have some collector interest. Two-door Porsches are almost always considered collectible cars, especially if they are presented to a classic insurance company by an agent who specializes in this type of policy. Not every classic company will write more modern Porsches, but there are some that will. Having a good agent who knows the classic market is the best way to get classic agreed value coverage. The real question most people have about insurance is how much it will cost. The beauty of a classic agreed value policy is that they are very inexpensive; for example, a 1979 911 SC valued at $30,000 would cost approximately $300 a year. For more modern cars, it’s a little more expensive, but not by much -- $30,000 coverage on a 2009 Boxster would cost approximately $398 for the year. As long as all the underlying usage and garaging requirements are met, classic insurance is cheap and very worthwhile. In part 2, I will discuss how to best cover your daily driver Porsche, especially if it is modified or is of high value. Editor’s Note: Justin Husman is the owner of The Phoenix Insurance. His agency specializes in exotic, classic, and custom car insurance. Justin has been in the insurance industry for 15 years.
Fiesta New Mexico: 50th Anniversary of the Roadrunner Region By Wendy Shoffit Photos by Jim Hirsch fter many years of wanting to go, James and I A attended our very first Fiesta New Mexico this year. The event was a real hoot and the Santa Fe area was amazing, but what we really noticed were the people! A small group of Mavericks attended, most of whom we knew, but some of whom we have just now became acquainted with and really enjoyed their company. The group of Mavericks attending included the two of us, Mark and Monda Hanna, Young and Lynn Slack, Bob Aines, Uday Nandam, along with Jim and Sharon Hirsch. Kevin Creed was also registered, but his Porsche ended up out of commission a week before the event. Sharon, Lynn, and Wendy Surprisingly to us, two Mavs (Mark Hanna and Tom Leavitt) are former Presidents of the Roadrunner Region! We also got to see former Mavs who were now living in the Santa Fe area (Jan and Joe Michel and Steve Fallon). But the real surprise to us was how welcoming everyone else was, and how easy it was to make new friends there! Never being ones to shy away from meeting new people, James and I found ourselves easily gravitating to a few locals and had a wonderful time. James wants to visit one couple from Los Alamos on our way to Parade this year, partly because they have goats and an attack llama! Ask him about that one. Pecos Pueblo was one of dozens of fascinating sites visited We saw some amazing scenery on the tours, got to know more about Santa Fe on the rally we participated in, enjoyed a beautiful car show on the square, and had an awesome time competing in the autocross. We both took home 2nd Place trophies, just behind a couple in another white GT4 with sticky tires. We were proud of our placement and had fun doing it! Watch out, Parade! This year we’re bringing the GT4 and are coming to play. The Shoffits - always fast in the autocross events Santa Fe Plaza served as the car show location for perusing our Porsches Hopefully our members won’t shy away from attending other regional or national events. The people have always made us feel welcome no matter where we go! This is a phenomenal way to see new places and things AND have an instant connection with people while doing it. So, consider Fiesta New Mexico or PCA Palooza or Treffen or even Parade for your next vacation. You won’t regret the experience! Uday Nandam preparing to leave on one of the drive routes 15