What are you valuing your e9 for insurance purposes

I got so frustrated with SF that I pulled all my “classic vehicles” from them and went to Hagerty. SF insures new cars at competitive rates up until recently. They upped my premiums by 7% due to nationwide losses with the pandemic. Yeah, go figure that one out. We hypothetically drive less, SF looses $$$$, then raises the preems. They aren’t alone, Allstate just quietly did their changes this week.

Anyway, working with Hagerty has been a dream. They are car guys. They understand. My rep actually called me when values for my ‘72 Bavaria, ‘72 2002tii, and ‘73 E9 went up exponentially. Now have agreed values I can live with and sleep better at night. SF just doesn’t know enough about Classic Bimmers like your gorgeous E9. I’d be delighted to compare notes with you outside of the Forum if you’d like. Good Hunting!

Best-
Hugh
 
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Whipcity said:
I got so frustrated with SF that I pulled all my “classic vehicles” from them and went to Hagerty. SF insures new cars at competitive rates up until recently. They upped my premiums by 7% due to nationwide losses with the pandemic. Yeah, go figure that one out. We hypothetically drive less, SF looses $$$$, then raises the preems. They aren’t alone, Allstate just quietly did their changes this week.

Anyway, working with Hagerty has been a dream. They are car guys. They understand. My rep actually called me when values for my ‘72 Bavaria, ‘72 2002tii, and ‘73 E9 went up exponentially. Now have agreed values I can live with and sleep better at night. SF just doesn’t know enough about Classic Bimmers like your gorgeous E9. I’d be delighted to compare notes with you outside of the Forum if you’d like. Good Hunting!

Best-
Hugh
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This is very helpful information. Thank you very much. When I had the minor issue with the bumper a few years ago State Farm made it very difficult on the settlement amount. Given the values now I imagine they would be even more difficult.
 
I moved my e9s, m3, m6 and e28 race car to Hagerty. They had great rates and were flexible with storage/useable. Also, they support and sponsor car events that I enjoy attending. My white coupe is more like a daily driver so the value is set at $40k
 
Stevehose said:
I have mine with Heacock at 1/2 - 2/3 the price of Hagerty
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Have you filed any claims with Hancock. When I researched a change, Consumer’s Reports gave them a meh rating. Being a nervous type, I didn’t submit a request for a premium.
 
scottevest said:
This is very helpful information. Thank you very much. When I had the minor issue with the bumper a few years ago State Farm made it very difficult on the settlement amount. Given the values now I imagine they would be even more difficult.
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Am so glad you decided to cut the cord with SF. I actually never submitted a claim for one of my “classics” with SF. My agent at SF even suggested I take my Classic business elsewhere since their appraiser down at Bloomington, IL home office. Get this, the dodohead appraiser valued my E9 at $28K. I was insulted. He refused to budge. That’s when I knew it time to move.
 
I was with Hagerty for 14 years For the last 6 we had 4 cars insured with them. No accidents, claims and only 1 ticket during that time. I was happy but rates crept up and up and up. I checked with American collectors and saved over 30%. I’d recommend getting a quote over the phone rather than online.
 
HonaloochieBoogie said:
I was with Hagerty for 14 years For the last 6 we had 4 cars insured with them. No accidents, claims and only 1 ticket during that time. I was happy but rates crept up and up and up. I checked with American collectors and saved over 30%. I’d recommend getting a quote over the phone rather than online.
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Makes sense. My premiums have gone up, too. Thought it coincides with increased agreed values? Don’t know anything about American Collectors. Are they real car people?
 
Dick Steinkamp said:
That would probably be the market price for your car (I'm sure it is VERY nice). To buy a good restoration candidate and then to have it pro restored, is generally a bigger number in total than buying one already in the condition the restoration would produce.
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Dick, off-subject very sorry! Do you have a source for the trim rings you use for your pic? My ‘72 E3 is in desperate need for a new or reconditioned set of 4. I’ve been looking for well over a year since acquiring “Avocado”. Thanks- Hugh
 
Whipcity said:
I’m embarrassed. Never been PM’d before. How do I access it. Very Sorry!
hugh
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If you checked the right boxes when you registered here, you should get an email telling you you have a PM. Go to the envelope in the upper right corner of any page and click on it.
 
One comment on insurance I'll pass along. I am with Hagerty, and they have an option on their policies that if they total my car, I still own it. I don't have to buy it back from them or anyone else.

My thought is that if I follow Stan's thinking and tried to replace my car, there would be still be thousands of dollars worth of parts I could take from my car to build another one. And the time it would save me not having to hunt for all those parts would be huge.
 
Whipcity said:
Makes sense. My premiums have gone up, too. Thought it coincides with increased agreed values? Don’t know anything about American Collectors. Are they real car people?
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I raised my coupe value twice with Hagerty (to $75, then $125). I found costs going up beyond raising my values. As far as AC being car people, all I can say is that the process for me to value my cars was roughly the same as with Hagerty- photos, and explaining my rationale.
 
scottevest said:
My insurance company (State Farm) asked me for some current images and valuations. What do you think my car is worth and should be insured for? These are the images requested by SF.

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I’m melting just looking at your black beauty. Never have seen a black E9 before. Just like seeing my wife nude for the first time.
 
scottevest said:
Since I showed you pictures, will you show me pictures? Just kidding obviously :)
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As you wish……a lot more if you want. Could tie up your server a bit

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