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E46 M3 (2001-2006) Engine: S54 - Max Hp: 333 hp at 7,900 rpm / 262 lb/ft at 4,900 rpm
Total Produced: 45,000+ - Years Produced: 2001 to 2006.


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Old Fri, Nov-08-2019, 05:45:23 PM   #31
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Default Re: Let's Talk Insurance Value

Guys every company have different rules, some require you DD driver to be newer some don't. Same with mileage and use. Like one member already said you really have to just call and ask, and give them all your information. It seems like this type of insurance is changing more and more from 4-5 years ago. Best thing to do is call and ask.
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Old Fri, Nov-08-2019, 05:51:42 PM   #32
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Default Re: Let's Talk Insurance Value

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Originally Posted by Mr. Wolfe View Post
I have an agreed value of $50k thru American Car Collectors. I would not sell my car for $50k, but at least it would hurt less if something happened.

Mr. Wolfe
Greg, that is who I have. I have never had a claim or issue with them. Currently, I have both my M3's insured with them. I am just wondering what would be the result of a claim. Are they are a trustworthy company or will they screw you over when the time comes that you have a claim.
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Old Fri, Nov-08-2019, 06:10:10 PM   #33
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Default Re: Let's Talk Insurance Value

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Originally Posted by bmwahba39 View Post
I wish I could get on Hagerty for peace of mind. I may call them and negotiate my speeding ticket from two years ago.
I did my Hagerty policy online, was not asked for any photos, driving records, or anything. They just issued a policy and that all. I have insured 4 cars at the same time, so maybe this has something to do with it.
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Old Wed, Nov-13-2019, 08:53:24 PM   #34
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Default Re: Let's Talk Insurance Value

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Originally Posted by stash1 View Post
Not trying to be a dik at all, but instead of relying on some rando forum member to educate you, why don't you pick up the phone yourself, and have direct conversations w/agents from both insurance companies to get the most up to date policy info straight from the horse's mouth?
Well mainly bc I'm not relying on some rando, rather interested in what others have experienced or know. It may be hard to believe but, what companies claim is not always what they practice so again id like to first hear what insured members have to say if they've run into scenarios I mentioned. But thank you for your input.

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Old Mon, Nov-18-2019, 01:16:37 PM   #35
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Default Re: Let's Talk Insurance Value

Stumbled across this thread, very timely. I have a '74 911 insured for $30,000 stated value via JC Taylor, agent for Foremost, subsidiary of Farmers. Had a claim years ago for cracked windshield and Safelite showed up with an aftermarket windshield, which I declined. I wanted a Sekurit OEM windshield, they had to get it approved and paid out $1200 for genuine OEM windshield, no issues. I bought it and installed myself.
Just re-instated my 993 to road use and they have doubled in value but given my M3 is normal policy, I will call Hagerty and Grundy to see what best coverage is for M3 and both 911s.
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Last edited by jager911; Mon, Nov-18-2019 at 09:14:27 PM.
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Old Mon, Nov-18-2019, 05:40:09 PM   #36
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Default Re: Let's Talk Insurance Value

Apparently "stated value" is not indeed the best. Rater, "agreed value" is superior.

Quote:
When it comes to insurance, a primary concern – and rightfully so -- of classic and collector car owners is how much your policy will pay out if you have an accident and your car is a total loss.

Of course, much of that payout depends on what type of coverage you have on your vehicle. We’ll talk about two types in this article, Stated Value and Guaranteed Value® (also known as Agreed Value), but first we must review something called Actual Cash Value.

Because most cars begin depreciating the moment they’re driven off the lot, standard insurance companies insure your cars accordingly. They will adjust your payout based on what the car would be worth the day of the accident (prior to any damage occurring), instead of what you originally paid. This is referred to as a vehicle’s Actual Cash Value.

Stated Value is coverage that reflects an amount that is “stated” at the onset of the policy. You tell your insurer what your car is worth (with proper documentation) and it is insured for that amount. The caveat here, however, is that the insurance company can choose to pay you either the Stated Value or the Actual Cash Value, whichever is less.

Alternatively, Agreed Value, coverage primarily offered by specialty insurers, is based on the proven value of your car as determined by you and the insurance company, according to appraisals, photos, or other relevant documentation. With Agreed Value coverage, the insurance company will guarantee that they will pay this agreed-upon value in the event of a covered total loss.

If you own a classic or collector car that is maintaining or increasing in value, Agreed Value is the best option to consider, or you risk losing out significantly if you have an accident. It’s important to note that most standard insurance companies do not typically offer Agreed Value, unless they partner with a specialty provider.

If there’s anything you should know about your insurance, this one’s at the top of the list. Ask your insurance company what kind of coverage you have, and make sure it is Agreed Value or Guaranteed Value®*, as we call it here at Hagerty.
https://www.hagerty.com/insurance/in...aranteed-value
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Old Mon, Nov-18-2019, 08:50:33 PM   #37
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Default Re: Let's Talk Insurance Value

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Originally Posted by bimmerfan08 View Post
Apparently "stated value" is not indeed the best. Rater, "agreed value" is superior.







https://www.hagerty.com/insurance/in...aranteed-value
Agreed! I'm going with agreed value policy. The Hagerty site has very realistic market values for specialty cars in different condition. I'm getting a quote of $421 for $25k on the M3 $0 deductible comp and $500 collision. $531for $30k, 0 ded both comp and collision.

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'07 550i Titan Gray/black Dakota leather/anthracite bamboo/6MT/Sport/CWP/Logic 7/Comfort Access/Active Steering/NAV
'00 540i 6MT/Sport 273k+ original clutch!
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'95 993 GT2 - Sunday driver
'12 Escalade
- tow vehicle
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Discussing Let's Talk Insurance Value in the E46 M3 (2001-2006) Forum - Engine: S54 - Max Hp: 333 hp at 7,900 rpm / 262 lb/ft at 4,900 rpm
Total Produced: 45,000+ - Years Produced: 2001 to 2006. at BMW M3 Forum.com (E30 M3 | E36 M3 | E46 M3 | E92 M3 | F80/X)