Insurance on the M3

[Emdrie]

Hi Folks
What insurance careers are people using? I'm wondering how people have handled the discrepancy between blue book and the true market value of our cars in case of a disaster/accident. Can you guys give me some ideas? Thanks

Kasra

[mrsha007]

its easy, some of us get the car valued at what it costs to replace. others use the market value as leverage when they try to collect. usually we come out on top.

[Bruce]

Originally posted by mrsha007
its easy, some of us get the car valued at what it costs to replace. others use the market value as leverage when they try to collect. usually we come out on top.

Don't bet on it. I inquired about a stated value policy with my insurance agent (State Farm) who basically said a stated value policy was a waste of money. To get the stated value you have to prove it. Also, you will be paying a higher premium as the risk to the insurance company is higher. The agent (and her husband who works in claims for them) said to get the market value at the time you need it. Works for me.

[mrsha007]

Originally posted by Bruce
Don't bet on it. I inquired about a stated value policy with my insurance agent (State Farm) who basically said a stated value policy was a waste of money. To get the stated value you have to prove it. Also, you will be paying a higher premium as the risk to the insurance company is higher. The agent (and her husband who works in claims for them) said to get the market value at the time you need it. Works for me.

its not ahrd to prove. many people i know have had m3's. crashed them and gotten 10k plus and the car back. perfect example is Ryan M3 on here. he proved his car was worth a ton more then what the blue book was.