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Thread: Collector Car Insurance

  1. #1
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    Collector Car Insurance

    Who here has collector car insurance? I am looking into several different companies. Hagarty quoted me two different policies, that were miles apart.
    Who do you have, and what was their price for a guaranteed amount?
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  2. #2
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    Quote Originally Posted by rogbmw View Post
    Who here has collector car insurance? I am looking into several different companies. Hagarty quoted me two different policies, that were miles apart.
    Who do you have, and what was their price for a guaranteed amount?
    Hi Roger,
    Hagerty, $100k guaranteed at $ 1,984.00 per year.
    Dan

  3. #3
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    Hagerty here too. 20k coverage for just under $400.00
    Desecrator of all things Sacred

  4. #4
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    I have American collectors, agreed upon value at $650 per year and 0 deductible.
    They actually paid up when needed in the past.

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  5. #5
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    Also check each company's mileage limitation. I dropped Hagerty for my 850 because they wanted to limit me to 3,500 mi/yr. USAA has a 5,000 mi/yr limit which is much more doable for about the same coverage. Cost is $700/yr with $1,000 deductible.
    Last edited by M6ermike; 08-22-2018 at 02:38 PM. Reason: additional info
    Life's too short to drive boring cars --
    • 1988 M6 (e24) - Zinnoberrot/Pearl Beige (sold )
    • 1994 850 Ci (e31) - Orient Blue Metallic/LtSilverGray
    • 2017 Porsche Macan - Night Blue Metallic


  6. #6
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    Quote Originally Posted by Dan B CSi View Post
    Hi Roger,
    Hagerty, $100k guaranteed at $ 1,984.00 per year.
    Dan
    Hey Dan - what color is your CSi? She looks beautiful!

    I have Hagerty for my CSi as well.
    1999 Estoril M Coupe - 1991 850i 6-speed - 1988 325i Convertible - '16 X5 xDrive40e
    Gone ('94 Arctic Silver 850 CSi | Ď97 Estoril M3 Sedan | 2014 650 Gran Coupe | 2004 645 Convertible | 1988 325i Convertible | 2005 760i | 1991 850i | 2001 X5 w/Dinan S2 | 2001 330ci)

  7. #7
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    Quote Originally Posted by mightydave View Post
    Hey Dan - what color is your CSi? She looks beautiful!

    I have Hagerty for my CSi as well.
    Thanks, its Sterling Silver with 2 tone gray interior. One of two built for the US market.

  8. #8
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    Quote Originally Posted by M6ermike View Post
    Also check each company's mileage limitation. I dropped Hagerty for my 850 because they wanted to limit me to 3,500 mi/yr. USAA has a 5,000 mi/yr limit which is much more doable for about the same coverage. Cost is $700/yr with $1,000 deductible.
    That’s weird I just signed up with hagerty and the guy on the phone actually said they don’t restrict mileage at all, said they want me to drive as much as I want. Never even asked for the mileage on the car to begin with either.

  9. #9
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    Quote Originally Posted by Pneill316 View Post
    That’s weird I just signed up with hagerty and the guy on the phone actually said they don’t restrict mileage at all, said they want me to drive as much as I want. Never even asked for the mileage on the car to begin with either.
    Interesting....as it was on the application I was looking at from Hagerty.
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    North America Representative, 8er.or Board of Directors



  10. #10
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    Roger,

    I've had American Collectors Insurance for about 14 years. I had track insurance with them in 2005 when I totaled a Porsche at Mt. Tremblant. A bit complicated due to 'cross borders' inspection, but they paid full value.

    This summer, my 840 was struck by a box truck's right rear wheel, my car was stationary at a curb USPS drop box and the truck cut the corner too short. Long story, but the trucking company told Nationwide - their insurer - that our car hit their truck!! The adjuster for American Collectors did not seriously evaluate the evidence from pictures showing the damage HAD to come from behind, nor the professional opinion of the project manager at the high end shop that did the repairs. American Collectors would have paid me full agreed value, but then the car would have been totaled and they'd take car and title. I reluctantly (with many disagreement emails, faxes and telephone messages) accepted their offer of ~75% of agreed value and paid the balance myself - about $1K over my deductible. I am away for the next 4 weeks and my policy expires while I'm gone. I now plan to renew it, but I'm going to start considering other insurers and perhaps cancel my policy later this fall. I don't like paying premiums to a company that so readily accepts an incorrect report of another carrier's policy holder.

    Gary Knox
    Last edited by Gary Knox; 08-22-2018 at 10:39 PM.
    Gary Knox
    '74 BMW 3.0 CS
    '97 BMW 840 Ci
    '03 MB SL55 AMG
    '07 Audi A8
    '90 MB 560 SEC and '94 Porsche 928 GTS recently departed but long enjoyed
    50 or so others over the past 67 years of driving

  11. #11
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    Quote Originally Posted by rogbmw View Post
    Interesting....as it was on the application I was looking at from Hagerty.
    I just ordered by phone, was never asked about it.

  12. #12
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    What a timely thread! My renewal with Grundy is due in October and it is $406 annual for an agreed stated value of $55k with $300k liability. However, I'm switching to Acuity with an agreed stated value of $100k (pending appraisal), with $300k liability for $474 annual.

    I've been very pleased with Grundy, the only reason why I'm switching is that I'm rolling all of my personal policies over to Acuity.
    1994 850CSi, 2007 M5, 1990 VW Westy Syncro

  13. #13
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    Your Grundy policy seems very reasonable. Anyone else have any experience with them?
    Editor, E31 NEWS - BMWCCA E31 Chapter Newsletter
    North America Representative, 8er.or Board of Directors



  14. #14
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    not enough
    Very timely post!

    With current prices, I'm switching to a 100k agreed value policy on CD00144. What i've seen on this posts confirms it. 100k agreed value for the CSi's seems to be the going trend.

    Major Cheese...do you have previous personal experience with Acuity? Those prices are not bad. Less than half of what Hagerty apparently wants for 100k of agreed value. I guess it's a matter of comparing the fine print and getting feedback from current policy holders.
    CB42366 - 1991 850i 6-speed. Brilliantrot & Black Nappa Leather
    CD00144 - 1994 850CSi. Hellrot & Black Nappa Leather


    My other projects:
    Supercharged Tbirds, V8 Tbirds, V8 Mustang Convertible, Audi V8 Quattro & Audi S8

  15. #15
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    I switched all of my personal policies to Acuity at the beginning of the year. I didnít move the 8 at that time because I had 10 months left on the term.

    Iíve only had one claim (with Acuity)and that was for roadside assistance. No issues during that process as they were prompt, professional and no charge as it was included in the policy.

    Unlike Grundy, they will require an appraisal, so you will need to take that associated cost into consideration.


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    1994 850CSi, 2007 M5, 1990 VW Westy Syncro

  16. #16
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    Looking into this as well, no prior experience with anything other than regular car insurance...

    Any other companies I should include in my search besides Hagerty, Acuity, American Collectors and Grundy?

    Anyone have experience with Leland West or other companies...?

    Thanks!

  17. #17
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    Hagerty- 60k value- $1440. annual. Acuity and Grundy seem pretty attractive at the cost difference. Scares me of that rule of "no such thing as something for nothing". Not knocking any companies but that sure seems like a LARGE spread in annual costs eh? I would like to see what the actual difference in policy definitions are.
    I was with State Farm forever at less than $500./yr until a very articulate quiz for my agent. The policy had a stated value but upon inquiry, if damaged was subject to inspection and a settlement of fair market value. Which means the "stated value" meant nothing. Moved to Hagerty. Expensive but very good folks so far. I hope I never need it!
    Last edited by TTTXGreg; 04-10-2019 at 12:12 AM.

  18. #18
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    I have Hagerty as well. Iíve got two cars on the policy; $1850/year for one insured for $40k and one for $100k. Given the prices that some recent sales have netted, Iím beginning to feel underinsured.


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    Mike Barrett
    94 850CSi, Hellrot over silbergrau dunkel/silbergrau hell
    96 850Ci, Oxfordgrun over silbergrau hell

  19. #19
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    American Collectors here. $934 for the year (with USAA member discount), agreed upon value of $50K, $0 deductible, and 2500 annual mileage cap.

  20. #20
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    Hi man, insurance companies are very tricky and take a lot of money, you need not an expensive company and with good conditions, there are few of them, but you do not need to hurry! I am now in England for work and I bought a BMW for myself with an age of 10 years, and now I am going to get insurance from them because I need to spend 2 years in England. I found a company here with very cheap prices and good conditions(https://www.total-insurance.co.uk/mo...ade-insurance/), try to contact them. Perhaps they have a department in the USA.

  21. #21
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    I actually use State Farm. Gave them a value of $25k (it's a 91 in great shape). For a CSi, I'm not sure if they are the one to go with, but I only pay $250/yr. (put in a $12k claim last year with no problems. Some branches fell of a pine tree and created at least 1 dent on almost every part of the car. Nothing major, but needed a new hood).
    My Cars - 1991 BMW 850i - mine for fun, 1993 Saab 900c - mine for fun, 2008 Lexus is250 - my daily driver, 2003 Dodge Durango - my wife's, 1994 Acura Legend - gave it to kid

  22. #22
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    American Collectors, $600 per year and 30k value, 0 deductible. Had a claim few years ago and they mailed a check without a fuss.
    They cannot be beat.

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  23. #23
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    Quote Originally Posted by M6ermike View Post
    Also check each company's mileage limitation. I dropped Hagerty for my 850 because they wanted to limit me to 3,500 mi/yr. USAA has a 5,000 mi/yr limit which is much more doable for about the same coverage. Cost is $700/yr with $1,000 deductible.
    I have had USAA for 40 years. They donít have an agreed value you have to buy an additional rider for coverage above book.


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  24. #24
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    Quote Originally Posted by rosakirk12 View Post
    I have had USAA for 40 years. They don’t have an agreed value you have to buy an additional rider for coverage above book.


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    I've had USAA auto insurance for that long as well. They don't write collectors insurance policies; they refer them to American Collectors, with whom they are associated. When I contacted them, I got a lot of push back on the value of the 8 series cars, and the person with whom I spoke seemed to know nothing about them. I got a quote, but don't even remember what it was, as I quickly dismissed them from consideration. Hagerty didn't balk at writing a $100,000 policy for my CSi, and didn't require an appraisal or bill of sale. Even if American Collectors costs less, I feel much more comfortable insuring a collectors car with Hagerty.
    Mike Barrett
    94 850CSi, Hellrot over silbergrau dunkel/silbergrau hell
    96 850Ci, Oxfordgrun over silbergrau hell

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