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  • Collector car insurance?

    My E30 is a weekend car only. I drive an SUV during the week, and weekends are split up between a Corvette and a muscle car. Those 2 get collector car insurance from Grundy and it's a steal. I thought I'd insure the E30 the same way, since they used to advertise "No model year limitations". But they won't insure it until it's 25 years old. I suspect they fear all E30's go on race tracks, but mines a cabrio. Has anyone else been able to get collector car insurance for their E30's? I asked to speak to an adjuster and Grundy but they wouldn't allow me to. Maybe we should all petition Grundy! I pay about $150/yr. each for my Corvette and '69 Firebird 400 Convertible.

  • #2
    both my e30s are insured by American Collectors, even the DTM replica ! :jakeguita

    They have agreed value policy where you choose how much the car is worth and pay your premium accordingly


    Originally posted by Oddjob View Post
    My E30 is a weekend car only. I drive an SUV during the week, and weekends are split up between a Corvette and a muscle car. Those 2 get collector car insurance from Grundy and it's a steal. I thought I'd insure the E30 the same way, since they used to advertise "No model year limitations". But they won't insure it until it's 25 years old. I suspect they fear all E30's go on race tracks, but mines a cabrio. Has anyone else been able to get collector car insurance for their E30's? I asked to speak to an adjuster and Grundy but they wouldn't allow me to. Maybe we should all petition Grundy! I pay about $150/yr. each for my Corvette and '69 Firebird 400 Convertible.

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    • #3
      Hagerty covers the e30 m3 since it is rare. when it isn't old enough to be a classic they cover it as an exotic (so few built)
      ApexRaceParts.com - Facebook Fan Page - Twitter

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      • #4
        State Farm will (with some convincing) allow it under their classic car coverage if you have an other car to drive. You have to fill out a form and submit some pictures but that’s about it. I pay about $300 yr for full coverage in CA with 250 deductibles and 100/300.

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        • #5
          Are we to assume you are in the US? Is your Cabrio original?
          Jim

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          • #6
            But the State Farm policy only lets you drive the car less than 3000 miles/yr.

            Is this the case with your current contract?

            -gabor

            Originally posted by sacM3 View Post
            State Farm will (with some convincing) allow it under their classic car coverage if you have an other car to drive. You have to fill out a form and submit some pictures but thatís about it. I pay about $300 yr for full coverage in CA with 250 deductibles and 100/300.
            October 1987 build date.

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            • #7
              Originally posted by Mdriver View Post
              But the State Farm policy only lets you drive the car less than 3000 miles/yr.

              Is this the case with your current contract?

              -gabor

              I am not sure the exact number, but there is a mileage restriction. Its not an issue for me cause its a weekend and club event car.

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              • #8
                I've got both M3s covered with "stated value" with Farmers Insurance.

                Rey
                "Simply because you can breathe doesn't mean you're ALIVE or that you really LIVE...." - Rise Against


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                • #9
                  Hagerty also has a 25-year rule. But they are very flexible about insuring newer cars if they are, in fact, collector vehicles. There was no problem whatsoever insuring my M3 and my Ur quattro - they knew what both cars were. No appraisal required on either. Premiums are more expensive on cars newer than 25 years - can't remember why, but it was explained to me (something about underwriting rules). The M3 is insured for $25K and the annual premium is around $400.

                  Also, I cut out the middleman and deal with Hagerty direct. Much better service as you get info from the horse's mouth, so-to-speak.

                  I've also done a few cross-country trips in my 71 911. I just call them and let them know what I'm doing ahead of time and, again, no problems. This year, my 911 was in Calif all winter (I'm in Mich). They've been excellent to deal with.
                  1988 BMW e30 M3
                  1985 Audi Ur Turbo quattro
                  1981 Audi Ur Turbo quattro
                  1971 Porsche 911 2.5L R Gruppe

                  Blog: In The Garage

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                  • #10
                    American Collectors.com...only requires 15 years, been with them for over 4 years now with E30M3 and E24635, premium of $650.00 a year for both cars, complete coverage, 2500 mile plans, add 30% premium for 5,000 mile plans...takes 2 weeks to process, go online fill-out enrollment/quote, send check in when you get paperwork in the mail plus 6 pics.

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                    • #11
                      Originally posted by paintpro21 View Post
                      Hagerty covers the e30 m3 since it is rare. when it isn't old enough to be a classic they cover it as an exotic (so few built)
                      Yes, I use Hagerty.

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                      • #12
                        I have American Modern with 6K a year and it's still dirt cheap for 20K agreed value.

                        http://www.amig.com/products/collector-car.html

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                        • #13
                          I have had my '88 M3 insured by Grundy for $16K since 2003! Come to think of it, it's time to re-appraise it! They won't insure your 325is though. They won't insure an E36 M3 either. They won't insure modified cars either, according to the agent I spoke to years ago. So unless their policy has changed in the last 5 years...

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                          • #14
                            Using Hagerty - valued @ $18K.
                            '88 M3 2.3 Henna (Sold)
                            '00 A4 2.8 Avant
                            '06 Evo 2.0 IX RS

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                            • #15
                              I recently changed to American collectors. They offer Agreed upon value.

                              So I pretty much added up all my receipts for add ons (not including maintenance) and pay on that value (I won't tell you what it all added up to).

                              $250 a year and I can drive upto 5k miles

                              I will be upping my coverage soon though. I want to have it higher now that I have a house.
                              http://JoeysM3.com

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