Insurance valuation

[Shahaad]

Hey fellow forum members :rollsmile:

The reason for my thread is to find out more or less what have you lota have your M's valued at for insurance purposes.

As I am aware that insurance companies will insure the car at book value which is way below what the car is actually worth especially with regards to the rarer exotic models, especially with certain M cars becoming rarer by the minute.

As many of you know should something happen(God forbid) and the insurance company pay out on book value there is no way on earth that you would be able to replace what has been lost nevermind the fact of ever finding a model in the same condition.

So guys, maybe some of you might know of a insurance company that is willing to insure a car for what you feel its worth or possibly know of a place where one can have the car valued to provide to an insurance company in order for them to rely on that valuation and insure the car for that value.

As some of you may be familiar with my car(and alot of other members will feel this way about their rides) but I definately do not want my car insured for less than what its worth.

To me the car is priceless but unfortunaltely for this case a value has to be placed :thumbdo:

Any input and help would be greatly appreciated :thumbs:

 

[Calla335]

At our company we only insure cars @ retail value not trade.

 

[calypso]

I just insure mine at book value. There is always a hassle at claim time otherwise. If they get whacked I cant replace them anyways. Will just move on to something else.

 

[msm]

One of the things you can do with some insurance companies is list all your extras to bump up the value a bit. Stuff like sunroof, xenons, navigation, HK sound, etc. However, this policy varies between the companies.

 

[Mo63]

I know this might be thread jacking ,but does anybody know of insurance companies that cover under 25 if they have "performance cars"

The reason I'm asking is because I can't find a insurance company that would cover my 330I ,they all specify that if something would happen I would not be coverd. Any help would be apreciated:thumbs:

 

[whattingh]

Not sure if it is a law of a rule at some insurance places but here is so far I understand. You insure a car with them. If something happen to your car they should put you back in the position you was before. So if they undervalue the car it is their fault in my opinion.

 

[Ga-3M]

Thanks Shucks for posting this and I would like to see what the options are if anyone has any info! On both my 2 door E36 M3's I've owned I always use to stress when I parked them anywhere, as they were only insured for something like R100k, and one had 110k km and the other 120k km both with full service history in immaculate condition, so too me their real value was somewhere around R140K if I could even find another M to replace them!

 

[Legacy]

I know this might be thread jacking ,but does anybody know of insurance companies that cover under 25 if they have "performance cars"

The reason I'm asking is because I can't find a insurance company that would cover my 330I ,they all specify that if something would happen I would not be coverd. Any help would be apreciated:thumbs:

Is the car in your name? If it is you might be screwed. Otherwise let your mom/dad insure it with you listed as the driver. Will be expensive but cheaper than if you do it in your name.

I got a quote for my 318i when I was 20 years old just for fun at Outsurnance since they are so "cheap". Wanted to charge me R1900 pm for comprehensive cover with a sum assured of R65k I think :biglol::biglol:

 

[Mo63]

I know this might be thread jacking ,but does anybody know of insurance companies that cover under 25 if they have "performance cars"

The reason I'm asking is because I can't find a insurance company that would cover my 330I ,they all specify that if something would happen I would not be coverd. Any help would be apreciated:thumbs:

Is the car in your name? If it is you might be screwed. Otherwise let your mom/dad insure it with you listed as the driver. Will be expensive but cheaper than if you do it in your name.

I got a quote for my 318i when I was 20 years old just for fun at Outsurnance since they are so "cheap". Wanted to charge me R1900 pm for comprehensive cover with a sum assured of R65k I think :biglol::biglol:

Its under my mums name ,still phoning around @ a few other places hipe I can sort it out soon

 

[Henry330i]

I know this might be thread jacking ,but does anybody know of insurance companies that cover under 25 if they have "performance cars"

The reason I'm asking is because I can't find a insurance company that would cover my 330I ,they all specify that if something would happen I would not be coverd. Any help would be apreciated:thumbs:

I'll pm you don't think I'm allowed to post on thread.

 

[Bayn46]

I know this might be thread jacking ,but does anybody know of insurance companies that cover under 25 if they have "performance cars"

The reason I'm asking is because I can't find a insurance company that would cover my 330I ,they all specify that if something would happen I would not be coverd. Any help would be apreciated:thumbs:

Find a broker, Santam and Mutual and Federal are tops in my opinion. I had the same issue when I bought my 330i, everyone except Outsurance said they wouldn't insure me. Outsurance quoted me R1800 and I got them down to R1300. Friend pointed me to a Mutual and Federal broker which got me an awesome deal.

 

[M3_e36]

i am insured with santam and the value car was 96k which isnt that bad for a 1997 4door M, and the car is insured on my name and i only pay around 650 a month insurance not bad for a driver under 25 :thumbs: but thats thanks to my friend that works there:joy: