Let's talk insurance

[Xmetal]

I think it's both a new thing and a California thing. I know someone local that got his car insured with a motorcycle as a daily a couple years back. However, no-go when I asked some months ago. Don't remember hearing about the multiple daily driver thing either until very recently.

I was told the same the last time I'd asked - The daily(s) must be newer. I do have 2 other cars, but only one is newer than my Z4MC, so I couldn't do it because we have 2 licensed drivers :-(

Thank you both for your replies - My logic is that if I get a really cheap daily it'll actually be cheaper than paying for Geico out right, and at the same time I then have a beater car for whatever random errands I might need to run. But as of now I haven't needed one as my wife and I share hers, but with a $3k insurance rate from Geico and no chance to get a agreed upon insurance value for the M3, I'm leaning much more in the beater daily/Hagerty direction

You need to confirm if your daily can really be a beater before you pull the trigger on the beater

[K-Dawg]

ChapterM3 I think you need to shop around . Based on the quote you got from Hagerty, I'm assuming you have pretty low limits with Geico too (you may want to evaluate whether you are adequately insured). Over $3000 a year to insure a 20 year old car seems ridiculous, even in California. Combine your insurance with your wife, raise your deductibles and shop around. If you'd really only get $5k in the event of a total loss, it may not even be worth carrying comprehensive and collision coverage.

Also, keep in mind that if your car is totaled or whatever, you don't have to accept the payout that the insurance company tries to give you. If you can demonstrate that the car is worth more than book value, you may be able to get significantly more money.

Oh, insurance sucks.

[TosM3]

It was quite annoying insuring my m3 at market value. I went through Geico third party which didn't ask many questions. The only thing was that they only insured my car for 50k. I have 50k miles Imola red. I think its worth more