I read the old postings on stated/agreed value policies (last one dated 2013, I think it was). Chubb (bought out by Ace) was mentioned but, since these postings are a little dated, I wanted to ask if anyone knows whether Chubb (Ace) is still a good policy or whether there are any newer/better insurance companies I should take a look at for a stated/agreed value policy. Thanks in advance for any suggestions you provide. Btw, this is not a concours restoration. Basically, it is an extremely well-maintained 1999 528i. In addition to regular maintenance, I've added the M5 staggered wheels, new Michelin tires and a $5,000 stereo system. It has the original motor and tranny, 183k miles, new BMW driver's seat leather, a $1,500 all aluminum radiator, new carpet, new moldings/trim and new paint on the hood and both quarter panels at $3,000. The car is immaculate. I suspect the KBB for my car is less than $2k. I figure that it's easily worth $10k to anyone who is familiar with the E39 (arguably one of the best 5-series sedans that BMW has ever made). I wouldn't sell it for even that price. Anyway, I'd like to have a legit stated/agreed value policy for it. If anyone could point me in the right direction, I'd appreciate it.
No experience w/ 'em on my part, perhaps see what Hagerty offers? I think Rob Siegel has mentioned he uses Hagerty for his fleet of bimmers.
I'm actually an independent insurance broker and my agency recommends Hagerty for this kind of situation. the only catch is that the car can't be your daily driver - you need to have a main vehicle insured (but that insurance will not be through Hagerty, just your normal insurance. If you have any other questions feel free to reach out.
Hi, I actually own an insurance agency and we generally recommend Hagerty for this kind of situation. They will do an agreed value and the rate is usually very low - but they require that you have a daily driver other than this particular car that is also insured (although this would not be Hagerty). So basically the rule is that it can't be your daily driver.
