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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 Wed, Jan-11-2017, 01:53:01 AM   #21
seamus2154
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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 simon_c View Post
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.
Look into it. When I first got my Hagerty policy it was with a broker. He very carefully gave me scenarios that aren't covered and not to find out the hard way. Driving it to work for transportation was one of them no matter the reason. If that was amended it is news to me. I did like that you can drive it anytime any mileage not needing to be going to an event as some other companies specify, along with mileage restraints.

@ others who said it was classic insurance, they cover exotic and collector cars also. The M3 was on their list as a collector car.

Its also agreed coverage not just insured. Your premium is based on the value you put on your car, which is the number agreed to for a loss.
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Old Wed, Jan-11-2017, 02:59:25 AM   #22
delvin
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

People look into Grundy. http://www.grundy.com/collector-cars/
It's a way better deal all around, they state explicitly that driving to work is okay and that there are not mileage limitations. Not to mention it is considerably less $$


I would wager that Mr mpower22's price would be around $300 (no more than $400) and then you can freely drive it like a goddamn American
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Old Sat, Jan-14-2017, 03:49:43 PM   #23
Edgy
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Thanks for this thread, good info to consider. I'm right around 5K per year. Sounds like unfortunately one of my two Ms would need to be classified as the "daily."

Classic car and guaranteed value are two separate things, correct? Can I negotiate with my insurance provider for a guaranteed number, even if the car isn't considered classic?
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Old Sat, Jan-14-2017, 04:04:27 PM   #24
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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 seamus2154 View Post
Look into it. When I first got my Hagerty policy it was with a broker. He very carefully gave me scenarios that aren't covered and not to find out the hard way. Driving it to work for transportation was one of them no matter the reason. If that was amended it is news to me. I did like that you can drive it anytime any mileage not needing to be going to an event as some other companies specify, along with mileage restraints.

@ others who said it was classic insurance, they cover exotic and collector cars also. The M3 was on their list as a collector car.

Its also agreed coverage not just insured. Your premium is based on the value you put on your car, which is the number agreed to for a loss.
I have Hagerty and occasionally use my car to go to work. I specifically asked if that was OK, because I store my M3 at the shop, so on days when I decide to drive it home, I subsequently need to drive it back the next morning. I also track my car and the agreement is that everything is covered to and from the track, but not while on the track. Someone posted a link to their website that confirms just that.
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Old Sat, Jan-14-2017, 05:38:50 PM   #25
Dave B
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

Grundy looks pretty solid for my two coupes. Very fairly priced at the values I set.

Now if only I could find a reasonably priced insurer for the convertible as the DD at a value I actually agree on... Pretty tough to do here in Miami.
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Old Sat, Jan-14-2017, 05:52:22 PM   #26
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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 Dave B View Post
Grundy looks pretty solid for my two coupes. Very fairly priced at the values I set.

Now if only I could find a reasonably priced insurer for the convertible as the DD at a value I actually agree on... Pretty tough to do here in Miami.

I would like to find a reasonably priced insurer for half classic car/half hpde car. Basically limited amount of miles per year with a half dozen track events or so, and set value in case of loss.
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Old Sat, Jan-14-2017, 08:15:44 PM   #27
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

I have Hagerty for my E36LS swap. They said I can drive to work no more than 20 times a year. 5000KM. Agreed price of 30,000CDN CDN$460.00 per year.
Last year I think I did 2000km. Way cheaper than regular insurance even when insuring for only 6 months.
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Old Sat, Jan-14-2017, 08:48:50 PM   #28
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

I have had reduced rates on mine for several years, not classic/stated value, but can do 8k miles per year and they have agreed to cover documented mods, like my RAC rg63's.

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Old Sat, Jan-14-2017, 09:33:33 PM   #29
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

This is great!! I will definitely be looking into Grundy. 5k is right around where I would be.

Does anyone know estimated rates based on value? Say 35k
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Old Sat, Jan-14-2017, 09:51:06 PM   #30
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Default Re: Just added my E46 M3 to my existing classic car insurance policy

I just got a couple of quotes online. The first two @$35,000

1. $300,000 Bodily Injury and Property Damage Liability Coverage Limit
$500 Physical Damage Deductible for all vehicles

This came out to $579/year

2. $100,000 Bodily Injury and Property Damage Liability Coverage Limit
$250 Physical Damage Deductible for all vehicles

$471/year

3. $100,000 Bodily Injury and Property Damage Liability Coverage Limit
$25,000 Physical Damage Deductible for all vehicles

$347/year set @$25,000 value

Last edited by BevsM3; Sat, Jan-14-2017 at 10:27:05 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)