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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 Tue, Jan-10-2017, 03:00:36 AM   #1
antknee
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Default Just added my E46 M3 to my existing classic car insurance policy

I currently have classic car insurance w my E30 w an agreed value of $15k (allowed 5k miles a year). I recently saw a thread/article about how hagertys was predicting the values of the e46 m3 to escalate this year so I gave my classic car insurance company a call and gave them the rundown of my e46 m3....after sending them pics, details, and use of the vehicle (car shows/weekend driver now)....surprisingly enough they approved it as a collectors car with an agreed value of $25k and allowed 5k miles/year.

This car used to be a work horse for me, but the last couple years it has mostly sat so it only made sense. Removed it from my GEICO policy.....and added it to my classic car insurer at $450/yr! Just wanted to pass on the info for anyone else looking to do the same
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Old Tue, Jan-10-2017, 03:10:35 AM   #2
SeanE46
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Any E46 M3 would work?
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Old Tue, Jan-10-2017, 03:23:08 AM   #3
mpower22
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Thank you, this is valuable information as I have been wondering when to make the switch. I'm literally only putting 1k - 1.5k per year on mine now..
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Old Tue, Jan-10-2017, 03:44:12 AM   #4
TboneM3
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

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Originally Posted by SeanE46 View Post
Any E46 M3 would work?
Driven little enough.
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Old Tue, Jan-10-2017, 03:50:20 AM   #5
seamus2154
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

I too added the M3 to my other classic cars on my Hagerty policy. But most classic car insurers are very clear that you must have a daily driver with regular insurance and it can never be used to go to work no matter the reason. (flat tire on daily driver) That is one of the things they do check into when a claim is made. Some have other restrictions, I find Hagerty's to be pretty good. It does say very clearly in policy can't be at a race track, even if your not racing.

Hey Antknee! I just saw your in Staten Island. I used to live in Tottenville. Grew up there. Saw it was 21 degrees today! Never again. Good luck bro.
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Old Tue, Jan-10-2017, 04:39:06 AM   #6
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

I have a specialty car policy with AIG's Private Client Group. It is similar to a classic car policy, in that it is for low-risk vehicles (exotics, classics, etc). They insure my Lambo, Ram, both M3's, and my wife's VW. The most recent addition was the E46 M3 a year ago, and I barely notice it in the premiums, maybe its a couple bucks. Full coverage on everything.
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Old Tue, Jan-10-2017, 04:58:47 AM   #7
Keiser
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Is Hagerty the best to go with in this situation?
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Old Tue, Jan-10-2017, 05:17:59 AM   #8
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Quote:
Originally Posted by seamus2154 View Post
I too added the M3 to my other classic cars on my Hagerty policy. But most classic car insurers are very clear that you must have a daily driver with regular insurance and it can never be used to go to work no matter the reason. (flat tire on daily driver) That is one of the things they do check into when a claim is made. Some have other restrictions, I find Hagerty's to be pretty good. It does say very clearly in policy can't be at a race track, even if your not racing.

Hey Antknee! I just saw your in Staten Island. I used to live in Tottenville. Grew up there. Saw it was 21 degrees today! Never again. Good luck bro.
I've looked into Hagerty but don't see anywhere that it says you can never drive your classic car to work. The requirements that I see are that you need to have a daily driver and that the classic car must be parked in private garage.
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Old Tue, Jan-10-2017, 05:43:55 AM   #9
delvin
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

I have Grundy for my ford and it allows drives to work and errands. It's half the price of Hagerty.
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Old Tue, Jan-10-2017, 01:10:39 PM   #10
CrookedCommie
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Nevermind, answered my own question. For track cars check here:
https://www.hagerty.com/Insurance/Motorsports-Insurance

Last edited by CrookedCommie; Tue, Jan-10-2017 at 01:54:13 PM.
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Discussing Just added my E46 M3 to my existing classic car insurance policy 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)