Agreed upon value insurance policies

[Maxima SE]

I have Hagerty with a 60k agreed value on the M3 with 5-10k in spare parts coverage (cant remember the exact number atm) and get the car back for free in the event of a total loss. I'm paying about $2200 a year but will most likely be raising the coverage in the next few months as I just put another 15k into the car

Hagerty just made the process easy and I pounded them hard for answers to every type of scenario where the coverage would need to be used in the event of a claim so there are no surprises. Everything checked out but I heavily did my research.

dang that is a TON of money youre paying. hagerty prices seem to be double grundy.

[Albino09]

I have a Hagerty policy with my E30 touring ($25k) and my E46 ($20k) and it's a premium of $900/yr which is what I was paying for the E46 by itself on Liberty Mutual. 1 Driver, minimum mileage per year on both, pleasure/casual use and some track indicated (but not covered obviously). The magazine is great too.

[JayVee]

Are these policies with sub $500/yr typically covering a single driver on the vehicle?

This might help some people so I have no issues sharing.

2004 Silber Grau/Black SMG 135K Miles 9/10 condition, $25,000 value.

- Two drivers, me and my Fiancee.
- 2,500 miles/year
- Pleasure/casual use only.. No work/school
- ~$500/year

[sev]

I have 2001 widebody insured for $55k and my 2002 convertible for $25k. I am going to be returning the widebody to stock but keeping the same agreed value.

I have said this a hundred times, if you own an e46 m3 on a regular insurance policy, you are asking for problems. You can research on how many members were screwed on payouts by insurance companies on their e46 m3’s.

All of these policies require a daily driver with insurance and the car must be newer than your m3. The m3 must be garaged as well. It almost worth buying an 2005-2007 Honda or Toyota just to call it your daily. Yes, it sucks you have to pay running costs but it’s better then getting paid $10k-$15k on your m3, especially if you have mods and sunk money into the m3.

hey man dont look at me! I've had agreed value on my beast for 6 years. Preach it!


I think i need to revisit the agreed value on mine, 30k is too low. they accepted 30k in 2015....

[thegenius46m]

I have Hagerty with a 60k agreed value on the M3 with 5-10k in spare parts coverage (cant remember the exact number atm) and get the car back for free in the event of a total loss. I'm paying about $2200 a year but will most likely be raising the coverage in the next few months as I just put another 15k into the car

Hagerty just made the process easy and I pounded them hard for answers to every type of scenario where the coverage would need to be used in the event of a claim so there are no surprises. Everything checked out but I heavily did my research.

[HitmanM3]

Are these policies with sub $500/yr typically covering a single driver on the vehicle?

[Obioban]

how the heck did you justify 60k to them on the m3? I wonder if I need to revisit the valuation on mine... obviously not 60k but maybe raise it from 30

They didn’t ask me to, but I could (sadly) easily send them mod receipts to hit that 🙄.

[bmw m3 s50]

how the heck did you justify 60k to them on the m3? I wonder if I need to revisit the valuation on mine... obviously not 60k but maybe raise it from 30

I have 2001 widebody insured for $55k and my 2002 convertible for $25k. I am going to be returning the widebody to stock but keeping the same agreed value.

I have said this a hundred times, if you own an e46 m3 on a regular insurance policy, you are asking for problems. You can research on how many members were screwed on payouts by insurance companies on their e46 m3’s.

All of these policies require a daily driver with insurance and the car must be newer than your m3. The m3 must be garaged as well. It almost worth buying an 2005-2007 Honda or Toyota just to call it your daily. Yes, it sucks you have to pay running costs but it’s better then getting paid $10k-$15k on your m3, especially if you have mods and sunk money into the m3.

[JayVee]

I am a long-time USAA member. After talking with a rep, they recommended American Collectors for the agreed-upon value full coverage policy. $25,0000 at ~$500/year. Similar cost/coverage to USAA, however, the added peace of mind knowing the car is fully covered is extremely comforting.
I did do quite a bit of research on multiple companies, I couldn't find any bad reviews of AC, and only found good reviews when they needed to payout. That, paired with USAA's recommendation was enough for me to move forward.

[SteelGreyM]

Hi all…

Just skimmed through this thread and got a quote from Grundy. $28k on my m3. They quoted me $424 a YEAR…

I am not an insurance pro. Is this full coverage or liability only…

I think i would qualify.. i dont really put that many miles on it. It's in the garage more days than its not. I rarely run errands in it or anything like that

This seems far too cheap… too good to be true almost.

[su45]

Hagerty quoted me at ~$850/year at a $30,000 valuation but I ran into the same thing where me and the spouse both needed a daily. I live in downtown Chicago and we already have another grocery-getter, why tf do I need 3 cars just to insure the M3...

Does Grundy require that your spouse also has a daily?

[sev]

I have Grundy. $60,000 agreed value on the M3, $40,000 on the M5, up to 5000 miles per year for each. It’s costing me ~half what normal insurance was costing me before I switched over, and that wouldn’t pay out nearly as much, so win win… unless I want to drive more than 5000 miles.

how the heck did you justify 60k to them on the m3? I wonder if I need to revisit the valuation on mine... obviously not 60k but maybe raise it from 30

[Phoenix///M3]

Looks like I need to switch to Grundy next year. Hagerty has me at $800 a year and $28k valuation. Perfect driving record and over 40

[Obioban]

I have Grundy. $60,000 agreed value on the M3, $40,000 on the M5, up to 5000 miles per year for each. It’s costing me ~half what normal insurance was costing me before I switched over, and that wouldn’t pay out nearly as much, so win win… unless I want to drive more than 5000 miles.

[SamGrant951]

Grundy here on LTW / 951, was about 1k cheaper than Hagerty for the year, same coverage.