SOLVED - Just got an insurance cancellation due to 'gray market' car...

[Farbin Kaiber]

So, State Farm just sent a letter cancelling my coverage on my 1983 323i. Reason stated is "This vehicle is ineligible due to the 1983 BMW is a gray market vehicle.."

Any of my fellow 323i owners have this happen? The PO had it insured, with State Farm for years prior to me buying it.

I Am Jack's Broken Heart.

[audiquattrot]

try calling American Collectors....I can't imagine every insurance company has the same policies?

[5ickride]

+1 for American collectors. I use them and they take care of me...and my wallet

[FL318is]

Screw State Farm. My 76 2002 somehow was No longer eligible for "collector status" or whatever it was called. So premium went up, coverage down, deductible up. After being a multi car customer since 1974. Bite me State Harm.

So Hagerty and USAA are now my people. Better rates and coverage. The service is great. They actually are polite.

[Farbin Kaiber]

It was intended as a daily driver, not a limited mileage collector car, will that be an issue?

[Jon325i]

It was intended as a daily driver, not a limited mileage collector car, will that be an issue?

I guess that depends on the anticipated number of miles you drive in a given year. Isn't the current 'rule' most insurance carriers use is 12K/yr? Some will offer a discount if less than average miles driven per year is expected.


Jon

[audiquattrot]

I have mine set w American Collectors for 5k/mileage a yr fully covered....paying $250/yr.

[Farbin Kaiber]

^Looks like I'll contact them tomorrow. I would likely want/need at least 10k/yr though. Most of the ones I have seen since posting this thread are 1,000-5,000/yr.

[FL318is]

American sounds good. Put it this way, State Farm has had enough of money with no claims. Shop around.

[anabolice30]

Farbin, i thought you were an insurance salesman?

[Farbin Kaiber]

^Really?

[Court M3]

+1 for Hagerty and USAA both stand up companies. 323i is with USAA and have AVI.

[Farbin Kaiber]

Looks like American Collectors Insurance will give me coverage similar to what I had, with an agreed value of $8,000 for $235/yr.

Pretty surprised.

I am Jack's less broken heart.

[hendrixvodu]

I had my e23 745 insured with Allstate and they took the vin and had it down as a 735 .after telling them it's a 745 and a grey market car several differnt times they told me such a car didn't exist and that the previous owner my have changed the rear badge

[Farbin Kaiber]

Now that I think about it, when I went in to register/title it, I think something similar may be my issue, it was previously registered as a 84 325 on the Idaho Title, and I informed them and had it fixed, I think that's what bit me on the ass.