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Collector car insurance?

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  • chutrain
    replied
    Is there any collectors insurance company that will cover someone under the age of 25? Called several and none will cover. Want to have agreed value so there are no headaches with the insurance company with normal coverage.

    Leave a comment:


  • Narayan3
    replied
    There's no mileage limit with Grundy. I just can't drive it for errands and commute...

    Leave a comment:


  • meanmud
    replied
    Originally posted by e30m3power View Post
    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.
    Nice - Hagerty wants me to be around 3K/year:beef:

    Leave a comment:


  • e30m3power
    replied
    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.

    Leave a comment:


  • meanmud
    replied
    Using Hagerty - valued @ $18K.

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  • Narayan3
    replied
    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...

    Leave a comment:


  • OnrailsM3
    replied
    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

    Leave a comment:


  • OOMPH!
    replied
    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.

    Leave a comment:


  • BingM3
    replied
    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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  • CurtEgerer
    replied
    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.

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  • ///M0F01SD
    replied
    I've got both M3s covered with "stated value" with Farmers Insurance.

    Rey

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  • sacM3
    replied
    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.

    Leave a comment:


  • Mdriver
    replied
    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.

    Leave a comment:


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

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  • sacM3
    replied
    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.

    Leave a comment:

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