Insurance question

[GotF1]

I have a very clean 2003 540i M Sport with 75k miles and $18k in receipts over the past 8 years or so and have been watching the sale prices closely.

Looking at KBB, the value is less than $8k and through a friend of mine that works at a company that provides vehicle values to most insurers, I learned they would supply a value of $8150.

Not trying to establish a value here, but seems like a large gap from $8150 to what these sell for. Just concerned should the car be hit and totaled. Anyone managed to get higher coverage? Issue is this is my daily so not limiting miles like a classic would though Haggerty, etc.

[MotorMouth93]

Agreed value insurance is what you'd need to guarantee a higher payout.

[GotF1]

Yes, either Agreed or stated value policies. Trying to see if anyone here actually has a policy like that on a daily. Wondering which company.

[JaxPlanet]

I was lucky to get $6500 when my 528iT with 75K miles was in a collision and totaled by State Farm. The price is very dependent on what is on the market at the time it is totaled. For example, they started at $5000 so I searched through eBay motors, Craig's list, and other used car sites until I found the closest example I could, which manged to get them to go up to $6500. Sadly, that was $1000 short of what paid for a suspension overhaul and other maintenance work I did the year before

Simply put, the only value in a car this old is to enthusiasts. Expect to lose every penny you put in it and you won't be disappointed.

[E39 Newbie]

I use Hagerty for my Mustang, which is driven frequently in the summer. But you're probably right in that they'd probably not cover a daily. It might be worth a call, depending on how far your commute is and whether or not you have another car (which could masquerade as your daily).

I had a classic truck that was, at one time, insured with State Farm (my regular insurance). They wanted pix and an appraisal. They then offered an agreed value policy. It wasn't as much as I wanted, so I switched to Hagerty. But, in your case, they might go for it. It's worth a call.

Lastly, my old man spoke often of Lloyd's. If they can't do it, probably nobody can. The premiums might be brutal, but, again, it's worth a call.

[masbury]

I have Hagerty. They have insured both my E38 750 and E32 750 which are the most common of the bunch in addition to the uncommon.

Hint: They don't check mileage!