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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 Sat, Nov-02-2019, 07:58:28 PM   #1
The Lewtz
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Default Let's Talk Insurance Value

So I have a 2002 Steel Grey SMG 83k. I know, yeh it's not worth what a 6spd LSB would, but I prefer the color and SMG for everyday driving.

Now I was seeing a few people mention get stated value and such. I know KBB undervalues these and I thought thats what insurance goes off. It has always been a fear that someone would hit me and insurance totals it, and im sol.

So how can we get these things covered for a lot more? I'm not to familiar with ins and out of insurance. But I've already put decent money into vanos bulleting, subframe etc. And I don't wanna be totally screwed by insurance.
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Old Sat, Nov-02-2019, 08:03:35 PM   #2
lmtfi
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Default Re: Let's Talk Insurance Value

Stated value. The more the insured value - the more the policy costs. Choose your amount(s).
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Old Sat, Nov-02-2019, 10:02:20 PM   #3
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Default Re: Let's Talk Insurance Value

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Originally Posted by lmtfi View Post
Stated value. The more the insured value - the more the policy costs. Choose your amount(s).
This ^^^^^^^
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Old Sat, Nov-02-2019, 10:49:13 PM   #4
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Default Re: Let's Talk Insurance Value

My old IB car got totaled a few years ago and during the whole thing I had to work with my insurance company. My policy had the words "...fair market value..." when determining the value of my car, so I basically had to prove that the fair market value for a 19k mile slicktop IB competition was worth more than your normal 60k mile silver/black m3. It took about 3 months, but in the end my insurance company took good care of me.

Either way, I highly recommend you read all the fine print in your insurance contract and/or talk to a representative of the company.

Cheers,
Liam
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Old Sat, Nov-02-2019, 10:58:02 PM   #5
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Default Re: Let's Talk Insurance Value

Hagerty or similar for an agreed value policy. They're pretty selective in my experience. I haven't been able to get on one of their policies due to a speeding ticket three years ago.
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Old Sat, Nov-02-2019, 11:29:20 PM   #6
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Default Re: Let's Talk Insurance Value

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Originally Posted by bmwahba39 View Post
Hagerty or similar for an agreed value policy. They're pretty selective in my experience. I haven't been able to get on one of their policies due to a speeding ticket three years ago.
BTW, beautiful E36...
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Old Sun, Nov-03-2019, 12:17:42 AM   #7
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Default Re: Let's Talk Insurance Value

I am insured with Hagerty for an agreed value but mine is a garage queen. They state for pleasure driving only, no daily use.
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Old Sun, Nov-03-2019, 01:00:42 AM   #8
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Default Re: Let's Talk Insurance Value

I have 4 of my cars insured for stated value with Hagerty. No brainer.
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Old Sun, Nov-03-2019, 06:28:09 AM   #9
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Default Re: Let's Talk Insurance Value

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I am insured with Hagerty for an agreed value but mine is a garage queen. They state for pleasure driving only, no daily use.
You can daily it, but you have to have full coverage from another insurance company since Hagerty is a liability only
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Old Mon, Nov-04-2019, 01:19:06 AM   #10
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Default Re: Let's Talk Insurance Value

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You can daily it, but you have to have full coverage from another insurance company since Hagerty is a liability only
It’s different in Canada. They are the only policy on the M and it’s comprehensive and liability, they were very specific that its pleasure driving only and specifically checked that I had another vehicle/policy for daily use. They also have an add-on called ‘cherished wreck’ where if the car is written off they pay out the agreed amount and I keep the car. I’ve been with them for two years now and I am no longer terrified someone is going to hit me and write it off. Well worth paying a little more for the peace of mind.
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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)