Announcement

Collapse
No announcement yet.

Agreed Value Insurance - My impossible Quest?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • e30m3power
    replied
    Originally posted by kmicinski View Post
    I have a sidebar to this post. I have always wondered how stated value insurance works when you are not the person that caused the accident? In Indiana the person deemed responsible for the accident has to pay for the damage. I have always thought about getting stated value insurance but always wondered what good it would do me in a situation where I didn't cause the accident?
    My guess is that your insurance would make up for the difference. But That is just a guess.

    Leave a comment:


  • kmicinski
    replied
    I have a sidebar to this post. I have always wondered how stated value insurance works when you are not the person that caused the accident? In Indiana the person deemed responsible for the accident has to pay for the damage. I have always thought about getting stated value insurance but always wondered what good it would do me in a situation where I didn't cause the accident?

    Leave a comment:


  • paintpro21
    replied
    Your rates are very different from the rates I was quoted fomr places such as Hagerty. When I called them 2 years ago (I was 22 at the time) I was told 25k coverage with 1k deductable would be $510 a year. no traffic violations. I can only assume it would be lower for me now.

    Leave a comment:


  • ///Mflossin
    replied
    Chris,
    Sounds like your age might be the biggest hurdle. I was quoted $650 for $36K of agreed value coverage but I'll be 32 soon.

    Leave a comment:


  • e30m3power
    replied
    Originally posted by UNHCLL View Post

    You're older so they'll cover you. Maybe in another couple years...

    lol, Yes I know your age trouble :yup:. My response was for Noro's suggestion that 1k was not bad.

    Leave a comment:


  • wazzu70
    replied
    Dang, my eta is like 90 bucks a month and I have no infractions on my record and am over 25. I think they would give me like 500 bucks if my eta was totaled. I wish I could get an agreed upon value for that car as its worth far more than Ill ever get if its wrecked, same with my "i" Im sure Ill get cents on the actual dollar value of the car let alone not counting upgrades. Maybe all this means I need to sell my eta and "i" and just get an M3 so I can reasonably insure it for a real value! I've been riding the specialized to work anyway...who needs a commuter :lostme:

    Leave a comment:


  • thizzelle
    replied
    Grundy does insure e30 M3's i just got it for 280 a year with $0 deductable, unlimited milage
    Last edited by thizzelle; 07-24-2008, 09:43 AM.

    Leave a comment:


  • UNHCLL
    replied
    Originally posted by mtrsprt View Post
    Chris,
    I use Parish Heacock for my Porsche and they've been great,....*SNIP*......All things considered, I have nothing but nice things to say about them.
    Give them a shot, if this sounds decent...
    Good luck!
    Good information, and good possibility. I will contact them tomorrow to see what they can come up with. As long as the mileage restrictions aren't horrendous, it may be a viable option. Last year I put 12k miles on the car... so limiting myself to 5k is going to be hard no matter what. :(


    Originally posted by e30m3power View Post
    American collectors
    Agreed value 30k, 5k mile limit, $250 bucks a year.
    $1000 is too much IF you have other options.
    Good luck bro
    You're older so they'll cover you. Maybe in another couple years...

    Leave a comment:


  • e30m3power
    replied
    American collectors

    Agreed value 30k, 5k mile limit, $250 bucks a year.

    $1000 is too much IF you have other options.

    Good luck bro

    Leave a comment:


  • mtrsprt
    replied
    Chris,
    I use Parish Heacock for my Porsche and they've been great, though I haven't "tried to get any money from them".
    This is an agreed value insurance policy with a value I chose entirely, though they do have limits that can be exceeded with certain requirments having been met. This is a similar age/value car to the e30 M3, so I doubt they'd have a problem with the age of the vehicle.
    I've had this policy since I was in my 20's, but never was asked about my age.
    I also have limited mileage useage, which coincided with my collector car registration in NJ, so that's not a problem... Plus, I think I've put 300 miles on it in 4 years... (Jeez, I need to get that thing out)
    I transferred the registration to CT and they had no problems with any of that either, even though it had to be "normal" registration in that state.
    The premium is joke cheap, too... I like that... even with a $0 deductible.
    I did have to have a daily driver with full registration and insurance with no mileage limitations, though...
    All things considered, I have nothing but nice things to say about them.
    Give them a shot, if this sounds decent...
    Good luck!

    Leave a comment:


  • L James
    replied
    Chris,

    I'm not sure who you talked with at Grundy, but I recently got a pretty nice quote from them on a "agreed value" policy for the E30 M3 Cabrio and the Sterling E30 M3. It maybe just whom you get on the phone. Their quote for the two cars is less than what I pay on the Cabrio by itself.

    It's also the coverage isn't as good as what I currently have, but since the car is not driven as often - we can let some of that slide.

    Maybe try Grundy again. They didn't give me any issues and I don't have any other cars insured with them. I've not switched yet, but they left me with a good first impression.

    Leave a comment:


  • UNHCLL
    replied
    Originally posted by noro View Post
    To me Hagerty looks reasonable? Do you find 1K being too expensive?
    $1k isn't out of the reasonable realm at all. You gotta pay to play... right?
    However, looking back on previous threads in the "Insurance" forum, I noticed a good number of members stating they were paying $600 or LESS for near comparable coverage.

    Also, while Hagerty was willing to issue the policy (and they are going to send me the paperwork), they also had a very nonchalant attitude about it. While I don't expect to be fawned over like I'm insuring a 1 of 4 Bugatti, I would like I little more attention than someone who's calling Geico to insure a Chevy Cavalier.

    -Chris


    - - - - - - - - - - - - - - - - - - - - - - - - - AUTOMERGED! There's no thread "bumping" or "double posting" within a 24hr period. - - - - - - - - - - - - - - - - - - - - - - -


    Originally posted by roberte View Post
    Wow Chris, I've got nothing for you. I'm running American Collectors w/ no problem, but I'm an old(er) fart :papa:so a 10yr driving record isn't an issue w/ me nor was it ever brought up by them.. All I can say is good luck in your search.
    Yup, I guess thats the burden of being a Young Whippersnapper!
    I'm continuing to search for other insurance groups who will do this, but at this time I'm finding them to be a bit more "obscure" than I'd like. If I'm going to put my faith in the company, I want to know they're legitimate...

    I plan to also speak with the independent appraiser when he comes to look over my car to get his suggestions/feedback on his experiences with various insurance groups.

    -Chris
    Last edited by UNHCLL; 07-24-2008, 06:56 AM. Reason: Automerged Doublepost

    Leave a comment:


  • noro
    replied
    To me Hagerty looks reasonable? Do you find 1K being too expensive?

    Leave a comment:


  • roberte
    replied
    Wow Chris, I've got nothing for you. I'm running American Collectors w/ no problem, but I'm an old(er) fart :papa:so a 10yr driving record isn't an issue w/ me nor was it ever brought up by them.. All I can say is good luck in your search.

    Leave a comment:


  • UNHCLL
    replied
    I will be 25 in December, so I can start this all over again once that date has passed.
    Lumping the car in with the other family collectable/exotics won't work... as you stated, if it's insured under my parents/fathers name, it won't be covered when I drive it.

    For the time being, until I can resolve this and get the coverage I want on the vehicle, I will likely just back myself up with an independent appraisal and sample valuations of similar cars.

    One thing of note, every agent that I spoke with, did not have a problem with my requested $25k coverage. They stated they'd only need independent appraisals if the value I was seeking seemed far out of line against where it should be... IE: $100,000 insurance.

    -Chris

    Leave a comment:

Working...
X