Another insurance thread - renewal time

Back to the original question

Has anyone had to file a claim with any of these companies? That is what I would guess should be the most important factor, how they pay out when the time comes.
 
I have my CS and MB 560 SEC insured with American Collectors Insurance. I've had at least one car insured by them for over 10 years. Early in my relationship with them, they also offered track insurance for cars being driven in high performance events (like Drivers Ed that BMW, Porsche, etc. sponsor). I had my '87 Porsche 928 S4 insured with them, and was driving it about 15 track days a year.

In the 3rd year of insurance, I had a 'hard impact' at Mt. Tremblant that totaled the car. There were minor delays and complications since the car was not drivable and located in Canada. But - within 10 days, everything was settled, they made fair value payment for the totaled car and I bought it back to salvage for parts at about 15% of that value.

I felt their service and their settlement were both excellent, considering the circumstances. Thus, I'm still their customer 10+ years later (they no longer sell track insurance, however!!).
 
steve in reno said:
I have Hagerty now with a very modest $17k agreed value.
I hate driving it because of the low value and what it will cost me if some idiot paying more attention to their phone than the road, t-bones me.

So after reading this posting I tried Hea****.

Hea**** valued my car at $23k for insurance. They also quoted Hagerty as their basis for value. "Concourse quality of $28k" stated for reasoning.
I desired a $50k, but would have taken a $40k.

Not sure how to proceed. Should I get an appraisal from a qualified reputable company?

I have not seen a e9 in very good condition for sale for $25k in years.
Click to expand...
Steve,

I went through that with them as well. my 2800cs is insured for 40k with heac0ck. underwriting kicked it back and i told them that both the 2800cs + 3.0cs were bmw e9 coupes, only differences were 200cc of engine and a few minor items. i pointed out Hagerty's article on rising coupe prices from 1.5 years ago. Now you can even use Keith Martin's article that a 2800cs gets a higher grade for being collectable than a 3.0cs.
 
I went back to Hagerty and they DID increase my coverage to $40k.
No mileage restrictions.
I get first bid on buying back, if totaled.(god forbid) at salvage price that is determined by 3rd party.

A new product that they offer, most states, is a slightly increased premium with owner getting car back after total and NO salvage cost.
Would have cost me $47/year

Cost is less than $400/year

I am a happy camper now
 
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