Older M cars insurance appraisal

[SoulBladeZA]

Hi guys

So my E92 M3 and E60 M5 are both grossly underinsured thanks to them being insured at book value, which is almost half of market value.

Insurance is demanding a valuation certificate in order to increase the insured values.

Where does one obtain this these days? BMW definitely won't help.

Thanks

 

[TBP88]

Get a decent reputable 2nd hand car dealer to write you a letter of valuation.

 

[KPM3_30]

Join BMW car club and get them to assist with valuation certificates. This should be acceptable to most insurances as they are a car club.

I've done this for all my cars as the book values are pitiful and you will never be able to find these cars for the stated values (even the X3). Had no issues getting myself insured for these higher values via my broker with Santam.

 

[Eust]

As above.
I have my ESS E92 insured for high 500s, even though book is high 300s.

 

[MoeM2]

Great topic. I have similar issue on my E39 M5. The insured value is grossly under.


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[Gordvisr]

Slightly a bit off topic but had to share this after seeing this topic, recently bought a 2010 X5 ///M, I got a call from an Insurance company, share details and then the "insures" claimed my premium on the car would be R42XX-00 a month, then i had to ask what retail value they working on, wait for this...... A whooping R865 000-00.