insurance?

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psychrunner

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What is the best source of auto insurance for older cars like our coupes? Is there a substantial discount due to restricted driving? Is the best source of insurance my regular insurer or should I be checking elsewhere for the e9?
thanks
psychrunner
 
i have hagerty.....

I have hagerty which is collectable car insurance. The 2 main advantages i see is it is cheap (mine is $200a year with basic roadside assistance included) and you have an agreed upon value rather than going by the blue book. I use it on my 2001 m coupe as well and i have not had a claim but so far they have been great to deal with. Others will probably pipe in with more useful info!
Jeff in pdx
 
Re: i have hagerty.....

I have hagerty which is collectable car insurance. The 2 main advantages i see is it is cheap (mine is $200a year with basic roadside assistance included) and you have an agreed upon value rather than going by the blue book. I use it on my 2001 m coupe as well and i have not had a claim but so far they have been great to deal with. Others will probably pipe in with more useful info!
Jeff in pdx
Click to expand...

This is a good thread. I was also interested in a "vintage car" insurance company that would also let me drive my car to work once in a blue moon (as long as I didn't go over a certain mileage).
 
State Farm also does an agreed value policy, but there is a significant (<2k miles/year) mileage cap for it to qualify as "rarely driven" or "reduced use". Otherwise, you have to pay full price, like it was a newer car of the agreed value.

I'm looking into the matter myself, now that my coupe is actually useable now.
 
Go with Hagerty. I've used them for about 8 years. They don't make you report mileage and don't get uptight if you drive your car once in a while. They are an enthusiast company, they understand that cars are things you drive...
 
Haggerty will let you drive to work rarely?

I don't mind a 2000-3000 K restriction, but I do rarely like to drive to work. American Collectors says no.
 
insurance

I checked with Hagerty today. They seem very reasonable and as stated above "not too uptight" about the miles issue. quoted me at $126.00 while in restoration with full coverage (valued now at $10,000) but will increase slightly at restoration completion ($185 range per year).
psychrunner
 
I had this same issue a few years ago and researched more than a few of the specialty insurers (Hagerty, etc). I was just turned off by the driving restrictions and wanted to use State Farm who I have used for 20 years.

I suggest that if you want to use the car occasionally with no restrictions and want to deal with a company that you normally use just call them (whether it be AAA, Geico, Farmers, State Farm etc.).

Be aware that to do this type of coverage properly you will have to pay for an estimate. This establishes value and have your insurance company/agent sign off on the value. This way you can get the coverage you want and use a company with which you have a previous relationship.

Good luck.
 
I have Haggerty. Cost is determined by accepted insurable value.
I am increasing mine this year to 20K$. Cost for 15K is approx $160/yr. :roll:
I know of NO mileage restrictions.
I have never had a claim. So can not state as to loss problems.
It does have a towing, 100 mile, included.
I do have Nevada Classic tags, which does have a limit of 2500 miles.roll:
steve :
 
The difficult part is trying to find a company(I know Geico won't) that will insure for agreed upon value.

Nationwide had no problem with the ageed value for however much I wanted. They also insured it for what they term 'casual use' which covers all driving except commuting to work. The antique insurers all only wanted to offer parade coverage which basically only covers only going to and from car shows on sunny days.
 
no one ever drives to work!

With hagerty you are not supposed to drive it to work but like the mileage guidlines they have no way or don't enforce it. If i ever get in an accident while going to work i will just claim i was out for a leisurely drive. The reality is that it is way cheaper to have collectable insurance and there is little if any hassle to it.
Just my 2 cents worth!
Jeff in pdx
 
csi vs. cs

What I think is interesting and hopefully not problematic is that when applying for the insurance with Hagerty via phone yesterday, I provided information and clearly stated my car is a csi. When I checked online, I was emailed my application with "cs" in the model category. I have a feeling that when the person keyed in the model that csi did not come up and switched it to cs. What I'm getting at is, since the csi was never sold new in the U.S. (all were imported at some point after being sold new in Europe??), is the csi considered "gray market" and are there issues with insuring and titeling??
Thanks
psychrunner
 
It might just be they are lax with the details of paperwork. My insurance card from hagerty for my 2001 m coupe says "M3 coupe". I doubt they would even write a collectors policy for an m3 as they are much more prevelant than m coupes with the s 54 engine. I imagine it was just a small error on their part and nothing more.......
Jeff in pdx
 
Has anyone had any experience making a claim with a "classic" car insurer?

Did they just pay on "agreed value"? Did they let you get bids from "restoration" shops? Did they investigate as to where you were traveling, etc?

I was always curious if they would follow through when push came to shove on a large claim.

Any experience board?
 
WHAT ABOUT DRIVING TO WORK!
Click to expand...

What about it? Drive.

I have Hagerty. Sometimes, I drive my car to work. The one time I had an accident in the coupe, I was on my way to work. It was no problem. In the end the other driver's insurance came through and paid for repairs, but Hagerty assured me that if the other insurance let me down, they would not.

As I stated earlier -- Hagerty is an enthusiast company. They know you will drive your car. They just ask that you not use it as your primary commuter.
 
Sometimes it sucks to be young!

I just checked Hagerty, and thier price was about what I'm paying with State Farm for my E34 540: 1300$/year, with an agreed value of 30k.

There are times I wish I was older.
 
hagerty conversation

Just had a conversation with a Hagerty rep who called me after receiving my photos online. The pics were from the seller and there was no garage in the photo - the pics of his house made it look like he had no garage. The rep specifically asked (the rep taking the initiall info yesterday did too and I affirmed then) if the car would be in a garage. Also, he indicated I had informed the initial rep that I "may" drive to work occasionally. When he asked me "how many times a year"? I responded with "maybe 20" thinking that twice a month or so would be fine, and also explained that my office was only about 3 or 4 miles from my home. He indicated that they only "like you to drive the car to work four or five times a year", then went on to have me carefully describe my "parking situation at work". He was very polite, cordial, and certainly not demanding in any way. I actually appreciated the thoroughness and concern for our investment (and their monetary interest). BTW, for a present value of $10,000 (before restoration - they recommended increasing coverage after completion which I appreciated) my quote is $126 a year. WOW. Sorry Atlas.
psychrunner
 
What about it? Drive.
Click to expand...

What about it is, that many vintage car insurance companies specifically disallow driving to work and/or have specific driving restrictions for the cars you insure with said company.
 
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