Collector Car Insurance

[njdrive]

Does anyone use collector car insurance on their pristine low mileage M3 or another collector car?

[CalgaryX3]

I do. Its through a Canadian subsidiary of Intact Insurance. There are several strict parameters for coverage including <5000km of annual (occasional/leisure) use, no travel to or from work, and must be stored in a garage. Premiums are very reasonable. Hagerty also offers collectors insurance that permits occasional work use, however the premiums were significantly more.

Your mileage may vary in the US....

[cae93]

I use Hagerty and the premiums were awesome, and they seem quite flexible about the mileage, "if it gets much above 5k a year then we need to talk about it". Their only real stipulation seems to be that it cant be a DD (you have to provide proof of insurance on another car) and that you have a garage.

Very happy with them so far.

[F3085258]

I am in Canada and have 6 cars on Hagerty.

I just bought and insured a 2008 e93 M3 with Hagerty for $550ish per year. Insured value is $25k. My other 5 other cars on Hagerty are '79 911sc, '74 Nova, '96 Mustang, '00 Miata and '03 350z.

Their customer service is excellent.


CalgaryX3 - what is your premium and what value are you insured for?

[F3085258]

Hagerty doesn't require a garage, they increase the deductible from $100 to $500 for driveway parking. All mine are parked inside.

[njdrive]

Thank you. I was looking into collector car insurance because my M3 is not a DD. GIECO has a collector policy with the requirements similar to the ones in the responses. They also offered an Agreed value policy. Thats for providing the names of some other insurance companies. I will check them out too.

[CalgaryX3]

Originally Posted by F3085258

I am in Canada and have 6 cars on Hagerty.

I just bought and insured a 2008 e93 M3 with Hagerty for $550ish per year. Insured value is $25k. My other 5 other cars on Hagerty are '79 911sc, '74 Nova, '96 Mustang, '00 Miata and '03 350z.

Their customer service is excellent.


CalgaryX3 - what is your premium and what value are you insured for?

I have three vehicles under one policy and *believe* that the M3 portion is appx. $425 per year. Two million liability, thousand dollar deductible and agreed value coverage for $85K.

[F3085258]

That is a good rate.

Haggerty does not limit mileage and allows you to drive to work up to 2 twice a month or 20 times a year which is nice.
They also have Guaranteed value as well.

[CalgaryX3]

Originally Posted by F3085258

That is a good rate.

Haggerty does not limit mileage and allows you to drive to work up to 2 twice a month or 20 times a year which is nice.
They also have Guaranteed value as well.

Might be worth the switch....I do get a hankering to drive to work a few times a year but the Intact policy is quite strict in forbidding this.

[davesaddiction]

I just switched my car to Hagerty - saving 50% vs what I was paying with Farmers.

My car is higher mileage; set value at $17k.

[mvestor]

Over on the Z4M forum, a popular choice is Grundy. No personal experience, but I'm looking to switch. Significant savings and only requirement is another insured car as a daily driver in the household.

[bake]

Originally Posted by mvestor

Over on the Z4M forum, a popular choice is Grundy. No personal experience, but I'm looking to switch. Significant savings and only requirement is another insured car as a daily driver in the household.

I actually got a quote from Grundy yesterday. I'm in Long Island, NY. Quote on a 2013 E93 M3, $35k coverage, $583/year. Car must be kept in a locked garage at night, must have another car as a daily driver, cannot be used to commute to/from work.

[JRF]

Originally Posted by njdrive

Thank you. I was looking into collector car insurance because my M3 is not a DD. GIECO has a collector policy with the requirements similar to the ones in the responses. They also offered an Agreed value policy. Thats for providing the names of some other insurance companies. I will check them out too.

check out American Modern. I had my ultra low mileage e92 under policy with them..... agreed upon replacement value of $55k and the premium was $480 annually if I remember correctly. They were significantly cheaper than Hagerty's for me. I now have a very low mileage NSX under policy with them, agreed upon replacement value of $120k and the annual premium is about $800. I'm in NY.

[Bemo]

This is pretty neat. I'll contact both American Modern and Hagerty as both of my garage queens only get driven on weekends and way below 5k miles per year

[obe100]

Originally Posted by JRF

check out American Modern. I had my ultra low mileage e92 under policy with them..... agreed upon replacement value of $55k and the premium was $480 annually if I remember correctly. They were significantly cheaper than Hagerty's for me. I now have a very low mileage NSX under policy with them, agreed upon replacement value of $120k and the annual premium is about $800. I'm in NY.

+1 on American Modern. I had them in NY & CT and the rates were very competitive. Moved to GA and they don't provide coverage here, so went with Assurant which offered competitive rates as well.

[tdott]

M3 is on Hagerty

[Dpc2u]

Just switched to Hagerty. $615 a year.

[timothy2001]

I am so doing this.

[M43S7RO]

Quoted with Hagerty, it was crazy expensive for me in AZ. (~$1200/yr). Clean driving record and no claims history. American Modern quoted double Hagerty. I'm at a loss to explain.

Finally quoted with Grundy and it is much more in line with where expected for a car not driven much ($400/yr).

[njdrive]

Looks like Hagerty is the highest for me at $1200 for the year.
Gieco is next at $800 for the year and Grundy at $500 for the year.

[derbo]

Have anyone made a claim with Hagerty before? I'm curious about how their experience was. I'm currently with Hagerty but never made a claim.

[djschmitt]

Originally Posted by derbo

Have anyone made a claim with Hagerty before? I'm curious about how their experience was. I'm currently with Hagerty but never made a claim.

+1, I'm interested as well since they seem the be the most direct comparison to my current State Farm package. My quote from them was about $100 more than Grundy but the claim experience would definitely make a difference in decision making.