my e30s52 ..... help with insurance value

[1990m3]

I got a lot of money for my '89 m3 from state farm even with high mileage about 6 years ago.

[etxxz]

it doesnt matter how you think your car is worth. its all in black and white. Unless specifically addressed, an insurance company will not give you any money for your swap or any other aftermarket parts. You MIGHT get away with getting a little more if you can prove to them that your car was in very good shape and could have sold for say 3-3500 but FORGET about the possibility of getting more money...

and yes a good shape e30 M3 would get a lot of money 'cuase its simply their market value. your friend had a northener e30 which is subject to tougher weather, rust etc and insurance Co obviously take all these things and prev vehicle history into account. although 2grand is an insult

[Jean]

Ok, so AAA does offer a 20year or older car policy ? hmmm

Here is another thought ,if you have all the receipts wouldn't that be enough to cover you ?

Many years ago my car got broken into and stolen, it was then stripped off all stereo and performance parts. I did have most if not all reciepts and AAA paid full amount w/o any problems?

[325Projectz]

Many years ago my car got broken into and stolen, it was then stripped off all stereo and performance parts. I did have most if not all reciepts and AAA paid full amount w/o any problems?

Did your insurance company know about the extra items and were you paying for them? If not, that is really surprising to hear...

[whakiewes]

Recent cars that I have looked at - 91 318is S50, high miles, strong mechanically, weak cosmetically $5500 (seller ended up keeping it), 91 318is M50, much lower miles, cosmetically good, rare options - $4000. Local E30 M3 with S50 swap asking $14,000, but it has been for sale for almost a year now.

Within reason, a good estimate based on the value of E30's (which I follow closely) would put your car valued at about $2500, engine at about $4000, miscellaneous mods at about $1000, and maintainence can't be included. The value of modifications on a car typically follows a 50% depreciation as soon as it is used, thus making your car valued around $5-6000. Real world market might pull $7,000 if you had the right options for the right buyer. To see above these numbers you have to have a low mileage (under 75,000), very clean interior and exterior, documented (possibly with pictures) swap, receipts, and patience.

If your dealing with a private agent, you should be able to pull $5000 easy, but if your going through Geico or Progressive where they are number crunchers, you will doubtfully see anything more than book value (whatever insurances think they are). There is a disclaimer in everyones insurance policy (atleast in NC) where values of cars can be up or down based on actual market value. Thus if you wreck your convertible in winter, you will see less than if you did the same the summer before or the summer after.

Every time I put a mod on my car I write it off as an expense I will never gain from ever again. If I wreck my car and I have $10,000 worth of modifications, then i've lost that. The wrecked car is worth what a wrecked stock car would be. They deal with so many kids in Civics with $x invested and try to swing an increased value that they don't care anymore. I pay more to have a private agent that I know personally, take to dinner, out for drinks, etc... so when the time comes I won't just be a number.

State Farm here, no agreed value policies on my Porsche or BMW. They offer them, but its just insuring a value, such as a TV with high risk. In a matter of 5 years, maybe 10, you will have paid the difference easy, thus I don't worry about it. Liability and comprehensive only for me, if I wreck my car I pay!

Wes

[bdi_fc]

State Farm here, no agreed value policies on my Porsche or BMW. They offer them, but its just insuring a value, such as a TV with high risk. In a matter of 5 years, maybe 10, you will have paid the difference easy, thus I don't worry about it. Liability and comprehensive only for me, if I wreck my car I pay!

Wes

Good point.