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Thread: New Owner / Insurance 2022 Question

  1. #1
    Z8 Novice
    Join Date
    Jul 2015
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    21

    New Owner / Insurance 2022 Question

    Finally closing on a 2002 Black/Red with 14K mi. Going straight to EAG for some upgrades (exhaust/short shifter) and to effectively rejuvinated to near new condition.

    What are my insurance options?
    Hagerty quote is $4K for an agreed value of $250K.

  2. #2
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    Sep 2021
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    Chubb $1801/yr $212k agreed value, $500k liability, $0 deductiblePremium may be somewhat lower because I have 3 other cars insured with them.

    FYI - that Hagerty quote you got approaches what Chubb charges me for the 507 which has a way, way, way higher agreed value.
    1957 BMW 507 Papyrus/Blue
    2001 BMW Z8 Red/Crema

  3. #3
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    FWIW I think Chubb also provides significantly better service should there be a claim - they may require you to have home insurance with them though - unsure of their policies these days.

  4. #4
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    I only have my (4) classic cars with Chubb. My real estate, my daily driver and umbrella policies are with State Farm and Liberty Mutual.Plus Chubb gets me into the Gooding Pebble Beach auction every year for free and, when not in a pandemic, their customer only free food and drink section within the auction tent. That's got to be worth something extra!
    1957 BMW 507 Papyrus/Blue
    2001 BMW Z8 Red/Crema

  5. #5
    Z8 Novice
    Join Date
    Jul 2015
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    21
    My agent was finally able to get Cincinnati (my carrier for all my properties and cars) to insure my car - don't know why they didn't want to before....Agreed value $225K, $500 deductible, $500K liability = $1,050 premium, much better than $4K!!!

  6. #6
    Team Z8 Charles's Avatar
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    Dec 2010
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    396
    After being with Grundy and then Hagerty, when Hagerty went up a lot a couple of years back, I went with Safeco (aka Liberty Mutual) for all my insurance and got agreed value at about half what I was paying at Hagerty with no driving use restrictions. I may have a mileage restriction, but will never come close to using it.
    Charles Guerin
    AH61406 - Titanium Silver/ /Black

  7. #7
    mjunco1054
    Join Date
    Jan 2012
    Posts
    55
    Quote Originally Posted by Charles View Post
    After being with Grundy and then Hagerty, when Hagerty went up a lot a couple of years back, I went with Safeco (aka Liberty Mutual) for all my insurance and got agreed value at about half what I was paying at Hagerty with no driving use restrictions. I may have a mileage restriction, but will never come close to using it.
    I also ended up with Safeco a couple of years ago to insure both of my Z8s. I have not updated the agreed upon value, but should definitely look into it.
    Manuel Junco 2001 Z8 60373 (Silver/Black)2001 Z8 60430 (Silver/Red)1976 20022017 Porsche Carrera GTS1998 Porsche Carrera S

  8. #8
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    164

    State Farm saved me money

    I am paying $700 a years for $225,000 of insurance on the Z8 with State Farm. I dropped Haggerty when I found I could add the Z8 to my State Farm auto policy and have a stated value for so much less than Haggerty.

    Jay in Southeast Florida
    Z8 #436
    License Plate: MYBMW Z8
    Eisenmann Mufflers
    Dinan Performance Software

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