Collectors insurance-what's my car worth?

[xAZxE30x]

Hey guys.. need some help!

I am trying to get collectors insurance on my E30. In order to get some quotes I have to state how many miles I will be driving the car each year, where it will be stored and then send some pictures of the outside and engine and interior. They also want to know the estimated worth of the vehicle. How have you guys gone about doing that?

I am thinking that showing them comps would be good for that?

This market definitely helps my case out! ;) I was thinking I could show them some stock cars to get a rough idea of what the car itself is worth and then should I be showing them comps of modded cars that are similar and how much they are selling for?

What do you guys think my car is worth, in today’s high market, based off some of these mods.. When I get this insurance the mtech2 and the car will be painted so it will be MUCH nicer looking than it is now so judge it with fresh paint and a fresh mtech2 kit on

E30 M3 Front Struts
E30 M3 steering knuckles
E30 M3 Trailing arms
Koni race shocks
MODE camber plates
MODE monoball trailing arm bushings
AKG aluminum subframe bushings
AKG aluminum diff bushing
AKG 75D trans mounts
AKG 75D motor mounts
Tree House Racing CABs
AKG Spherical RSMs
GC Coilover kit
s3.46
M Coupe Diff Cover
M Tech 2 suede steering wheel
Style 5’s
M Tech 2 Kit (brand new)-$4,500
French Smiley’s
Mishimoto Radiator
E36 M3 rebuilt steering rack

Anyone here have collectors insurance?

Thanks!

//Austin

[rcsoundn1]

I just applied for mine in NJ, and their minimum payout was more than my car is worth, so I took that option. From what I experienced, if you want to set an "agreed upon value" you may have to show proof of why it is worth what you claim.

[flyboyx]

need to post pics

[BlackbirdM3]

Get your car appraised by a knowledgeable appraiser. Simple as that.

Will

[xAZxE30x]

You mean you haven't seen my build?! Haha



Here's how it sits now. Like I said I don't want to get anything, unless I can, until the mtech2 and paint are on here before bfest

[Danny]

Pick a number and provide pictures to your company of choice. Then haggle with them. I seriously doubt you'll be able to show them this thread and say "LOOK ALL THESE TEENAGERS SAY MY CAR IS WORTH 25KAY" and have them take that into account.

[xAZxE30x]

Oh no I know that

But I have heard of lots of people showing print offs of ads when they were in an accident and getting close to the amt wanted.

I basically just don't want to get screwed if someone hits me and they kbb the car and it comes back as an $800 car and half my wheels are bent and y bumper smashed and struts bent. Kind of thing

[xAZxE30x]

Thanks for the answers

[xAZxE30x]

Get your car appraised by a knowledgeable appraiser. Simple as that.

Will

Thanks I will look into getting tht done

[reelizmpro]

Get an agreed value policy if you think it's necessary. Problem is most of those policy's require a garage, daily driver and limited miles.

[xAZxE30x]

Yeah I have to have a garage and another car. Both of those are ok but the miles is the tricky part.. I'm going to want to drive it mre than they'll want me to most likely

But the stayed value and no smog sure would be nice

[_JohnnyD_]

If you use "agreed upon value" it has almost nothing to do with the actual value of the car. If you tell them your car is worth $100k then they charge you a rate for a $100k car and base the usage agreement partially on the value.
The pictures are more for their records to document the state of the car at the time of the agreement. That means if you submit that picture and call them the next day saying you need $100k because someone stole your front bumper trim they'll tell you to F OFF.
The biggest problem with "agreed upon value" is in the case you get into an accident. If there is $10k of damage which would typically write off any E30, they may give you the money and tell you to fix your $100k car. There are clauses that you can add about accidents too but I don't too much about that.

The point is the more you value your car at the higher the rate will be and the more restrictions they may impose.