Anyone have "Agreed value" car insurance

[herbivor]

I've got about $11k in my E30 that I would like to get fully paid for in case of total loss. Does anyone here have classic car insurance or "agreed value" car insurance? If so, which companies are a better value?

[Rsully70sev]

Yessir. I used to have State Farm with that type of insurance till I got my 4th point. I had to declare the value, substantiate it, and submit photos. This was for my 1976 Cadillac Seville, it's "black book" value was 6k, but I had it insured up to 22k because of the nature of the vehicle. At one point they sent out an agent to see the car also. It's not hard to do, but expect a massive increase in rates.

[Rsully70sev]

And they LIKE to see appraisals, but usually aren't necessary, I think the agent they sent acted as one just to make sure the car wasn't a dump in reality.

[reelizmpro]

American Collectors. Rates are very reasonable vs regular insurance companies. I am 33 with an excellent driving record. No accidents. However, there are some stipulations. The car(s) must not be your primary vehicle, garaged, mileage cap, can't drive to work, etc.

[Rsully70sev]

^ very true ^ I was 17 paying $320 a month for that set up through state farm

[herbivor]

Most I've seen require garage storage and driving only on weekends with mileage caps. Unfortunately, although the annual miles will be kept low, I don't own a garage and I will need to drive it during the week to take the kiddos to daycare. (My primary driver is a MR2).

[M-technik-3]

Haggerties sells AVI type insurance and there are a few others. I have it on my white M due to dollar value I have into the car.

Like Barry mentioned there are stipulations.

[Hartge_H27]

American Collectors. Rates are very reasonable vs regular insurance companies. I am 33 with an excellent driving record. No accidents. However, there are some stipulations. The car(s) must not be your primary vehicle, garaged, mileage cap, can't drive to work, etc.

I have the same for my coupe. but it does kinda suck with the mileage cap.

[AJordanWise]

I am actually an insurance agent and have worked with a few of the companies mentioned (American Collectors, Haggerty and State Farm). There are others that really only care that you have another vehicle for primary use and others still that will do somewhat of a hybrid policy (I have my 91 318iC with Unigard) which will do a stated value as a starting point for what they will pay vs. American collectors that will cut you a check for the full amount you insure the car for.

Let me know if you guys have any other questions about these types of things. Feel free to shoot me a PM.

[xwill112x]

i dont see the need in this type on insurance, but i do hate the fact that most offers are like 1200 on a e30 based on kbb.

[Jean]

AJordanWise - what other major insurance companies other than State Form offer stated value? I called AAA once, they sounded like they had no idea what that even was...

[iwantspeed]

definitely interested
subscribed for more info.

i have aaa and they do have something like this
but the car had to be more then 30 years old
not the primary car
mileage cap
weekend car
garaged

hagerty has this but same stipulations

I want to find one where I can still daily drive my car and not have a mileage cap
even if my rates are expensive

[M-technik-3]

i dont see the need in this type on insurance, but i do hate the fact that most offers are like 1200 on a e30 based on kbb.

What do you drive? Some of us have a few more dollars invested and others have cars that can't really be replaced so it does make sense to have good insurance on them.

my current project when completed will most likely get AVI on it as well.

[TomSuddard]

I'm just surprised any R3v members have insurance...

Is there any way you do agreed value on a car that's daily driven?

[kway]

I've had a policy with J.C. Taylor for the past five years, been very happy with them. $15k agreed for my 745i, no mileage cap, but not primary vehicle. Stupid cheap, just over $200/year.

I think the no garage thing will be your biggest issue.