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Best stated/agreed value insurance policy for 1999 E39?

Discussion in 'Buy, Lease, Finance & Insurance' started by jwcater, Jun 16, 2016.

    • Member

    jwcater

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    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.
    • Member

    MGarrison

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    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.
    • Member

    jwcater

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    • Member

    plinke

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    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.
    • Member

    plinke

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    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.

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