Agreed upon value insurance policies

[9kracing]

Hagerty just dropped me for getting 3 tickets in 3 years.

I had gotten 2 really close together, like a month apart back in summer of 22, and then I got another one beginning of this year.

2 of them are literally for doing 75 in a 65, but apparently it doesn't matter.

So, I have to park the M3 for like 6 months and then reapply.

[ugaexploder]

It's that time of the year for me to renew car insurance. It's currently with Hagerty, I paid $850 for the year last November. They just quoted me $1k/year for an agreed value of $24k lol

I checked out Grundy and I put in estimated value at $30k and I was quoted $400 for the year. Definitely switching lol.

[Phoenix///M3]

Just renewed Grundy. No rate change past three years and half the cost of Hagerty.


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[SQ13]

I recently made a glass claim thru Grundy. They tried to replace it with aftermarket glass, but the glass guy I went to was able to get them to cover the cost of an OE replacement. Wasn’t able to get the IR glass though. The process was very simple.

Grundy is significantly cheaper than Hagerty for me, about 1/4 of the price ($0 deductible vs $1k too), and the rates haven’t changed over the last three years. Hagerty pricing is fucking stupid now…even their track day insurance would cost over $1k for a weekend while others are charging $250-400.

[PetrolM3]

All insurance rates have gone up, classic and all others. Cost of parts, skilled labor, inflation, etc means it costs more to repair and replace cars.

I just got a 2024 VW GTI two months ago and my rate is going up over $200 yearly at renewal time, only two months after my initial quote.. this is not a classic car policy but the increase is for the same reasons…

[Interlagos]

Sounds like I need to look into Grundy — recently renewed with Hagerty and they upped my rates quite a bit for no reason even though by their own valuation tools my cars values are dropping…

[T-Rex]

I filed my first claim with Grundy / Phly last month after 5 or 6 years with them. Just a glass claim after the windshield on my E39 M5 got busted by a large bird (an eagle I thought -- it flew right away after destroying my glass)

No issues whatsoever, paid in full. Got OE BMW glass, even the expensive upgraded IR/UV climate comfort variant through the shop of my choice. I had low expectations given that it's about 30% of the cost of Hagerty

That's fantastic, thanks for the quick reply! Their quote was ~35% of Hagerty, which raised my eyebrows for sure. That said, I am done paying a king's ransom for two cars that combined get fewer than 5k added per year.

[repoman89]

Bumping this thread - has anyone here ever had to file a claim through Grundy? Curious to hear what that was like before I pull the trigger.

I filed my first claim with Grundy / Phly last month after 5 or 6 years with them. Just a glass claim after the windshield on my E39 M5 got busted by a large bird (an eagle I thought -- it flew right away after destroying my glass)

No issues whatsoever, paid in full. Got OE BMW glass, even the expensive upgraded IR/UV climate comfort variant through the shop of my choice. I had low expectations given that it's about 30% of the cost of Hagerty

[T-Rex]

Bumping this thread - has anyone here ever had to file a claim through Grundy? Curious to hear what that was like before I pull the trigger.

[freshprince2421]

$83 each, or for both?

Total for both cars .., $300k/$100k

[D-O]

American Collectors denied my application. Went with Hagerty and process was seamless. $83/month for both E46 M3's ($35k & $25K valuations)

$83 each, or for both?

[freshprince2421]

American Collectors denied my application. Went with Hagerty and process was seamless. $83/month for both E46 M3's ($35k & $25K valuations)

[bmw m3 s50]

What category did you use with American Collectors? Asking as they denied me saying my car isn't that special.

Mike

See above.

[bmw m3 s50]

I am coming back around to this because after deciding to move forward with American Collectors and sending them photos, details about licensed drivers in my home, etc. they decided my car was not that special either and declined to cover it. How is it that after filling out the on line form and having two phone calls with them only the underwriter can figure this out?

D-O

I am pretty surprised at seeing a lot of rejections from American Collectors as I have both my e46 M3's insured through them.

Remember, this is an insurance company not an enthusiast company. When speaking to them about an m3, you need to inform them that an m3 is limited and special production of a 3 series BMW. The m3 is built in far less numbers then a 3 series BMW. Additionally, you need to see what class they are insuring your m3 in. They may be trying to ensure your e46 m3 under classic or another another class which it does not qualify for.

I have both my m3's insured under the modified class. If you have any mods done to your car: wheels, suspension, exhaust, body. etc. mention that. It will help when dealing with the underwriter. The underwriter, who knows nothing about cars, will need to understand why your insuring the m3 with them. The underwriter will need to understand the difference between an m3 and a 325i.

[nshzkaj]

Hey! I totally understand your concern. Insurance companies often suggest switching to liability coverage for older vehicles, but it's true that the payout might not match the actual value of your car. Agreed upon value policies can be a good option in situations like this, but the reviews and quotes online seem all over the place. If anyone here has experience with these policies, it would be great to hear your thoughts. I'm also curious about finding a reliable source for information. By the way, have you considered reaching out to a health insurance broker portland? They might have some insights or recommendations to help you navigate through this.