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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 Thu, Nov-07-2019, 02:33:10 PM   #21
Dave B
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Default Re: Let's Talk Insurance Value

Quote:
Originally Posted by bmw m3 s50 View Post

- You must have a daily driver that is newer then your stated value car.
They're flexible on this. I told them that my daily was a 2001 325iT with 200k miles and they reviewed the case and agreed that my unusual stable arrangement was still worthy of coverage. It's only because I lost a garage spot that I never switched over. Which I really, really need to do.

Quote:
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?
Yeah - it's worth noting that both Hagerty and Grundy are specialty companies that aren't out to screw you over, so dealing with them - on the phone or in writing - is actually a pleasure, as opposed to a battle.
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Old Thu, Nov-07-2019, 02:48:22 PM   #22
mthreeltw
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Default Re: Let's Talk Insurance Value

i have several cars on an agreed policy with hagerty. my allstate agent actually did all the work to set up the policy for me. typical agreed policy - garage pics, car pics, but i didn't find them difficult on value. every time they accept my requested number. the only thing is they only see a car, they don't really see special color or unique interior, etc. to them, it has to be worth that figure in the market. still the best way to insure vehicles that wouldn't give a fair value under a standard policy.
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Old Thu, Nov-07-2019, 02:48:25 PM   #23
Mr. Wolfe
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Default Re: Let's Talk Insurance Value

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.

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Old Thu, Nov-07-2019, 03:30:05 PM   #24
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Default Re: Let's Talk Insurance Value

This thread reminded me to check on my policy with Grundy. I have the full policy docs at home so will confirm, but I'm pretty sure it doesn't cover taking the car on vacation or a road trip. Got an initial quote through American Collectors for almost 3x what I'm paying now (still only about $1k) but if they cover the car during vacations or road trips it'll be a no-brainer to switch when the car comes out next spring. There was a footnote during the quote process about a 7500 mile per year policy that allows for "occasional general use."
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Old Thu, Nov-07-2019, 06:27:17 PM   #25
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Default Re: Let's Talk Insurance Value

Awesome info here guys. While I do work from home, and in 5yrs have only put about 14k miles on my car. It is not in garage, and is my Daily. So sounds like, I'm basically screwed if anything happens? No decent way to get stated value.

What I'm hearing is it may be to my advantage to pick up an old cheap beater for my "daily".

Last edited by The Lewtz; Thu, Nov-07-2019 at 06:37:11 PM.
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Old Thu, Nov-07-2019, 07:28:59 PM   #26
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Default Re: Let's Talk Insurance Value

I recently got Hagerty and they updated their policy and now allow your DD to be older than your car you're insuring.

I was going to get grundy but your DD has to be newer than the insured car.
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Old Thu, Nov-07-2019, 07:56:40 PM   #27
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Default Re: Let's Talk Insurance Value

Thinking of changing my E36 to Hagerty for stated value, I'm wondering though, how do they determine what's the difference between a pleasure drive and daily use/errands...? Do they like, not cover you if you stop at 711 for a coke and some dipshit hits your car?
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Old Thu, Nov-07-2019, 08:34:03 PM   #28
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Default Re: Let's Talk Insurance Value

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Originally Posted by Ramo View Post

I was going to get grundy but your DD has to be newer than the insured car.
I have Grundy and my DD is older than my insured car and they still approved me.

Over the phone they told me that the DD has to be newer and their logic was that newer car= more reliable car that you will end up driving more. I argued and said that's nonsense because my DD is not only more reliable but also more comfortable to drive than my heavily modified M3. I also provided carfax reports for both cars which clearly documented less than 3,000 miles of use on the BMW over the past 4 years and a ton of miles on the DD. Once i submitted my application, it went right through
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Old Thu, Nov-07-2019, 08:39:43 PM   #29
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Default Re: Let's Talk Insurance Value

I have Hagerty in Canada, with a guaranteed value of $29K. They stated numerous times to me that they are flexible on the policy. Its not meant to be a daily driven car but driving it to work a few times a month in the summer was not an issue (that said I only put about 2,000 km on the car a year). Of course, read the fine print.
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Old Thu, Nov-07-2019, 10:27:07 PM   #30
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Default Re: Let's Talk Insurance Value

I wish I could get on Hagerty for peace of mind. I may call them and negotiate my speeding ticket from two years ago.
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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)