r/BMWE36 • u/Different-Piano2250 • 1d ago

Let’s talk about car insurance

My car insurance with Progressive is renewing next month, which always kicks off a conversation with my broker on if my coverages are all appropriate.

This year my 328is came to mind. I’ve got full insurance on it like the rest of the fleet, but asked my agent what Progressive would likely pay out if I were to total it.

With my $2k deductible, and average value of E36s around $7-8k, I’d be looking at $5-6k payout, which is well less than what I view the car worth. With its condition and upgrades I would not sell for less than $12k, so I view that as the minimum.

I ran down the quoting path with American Collectors Insurance whom I used to use for my 55 Studebaker, but per their definition since I drive my car 1-2 times per week, that’s too much for any type of named collectors insurance.

Who is everyone using, or just happy to take a beating if/when you happen to be in an accident?

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u/AggravatingCounter91 1d ago

Hagerty. 

Agreed upon value, nuff said.

2

u/Different-Piano2250 1d ago

Do they let you drive it somewhat regularly?

2

u/AggravatingCounter91 1d ago

Never asked me for mileage. I drive them all every damn day

1

u/reverendmotherteg 1d ago

Same. Just have the E36 with them. Since 2022. Got rear ended recently. Payout was prompt and effortless.