Insuring 2005 2.5i?

StudioWizard · Post by **StudioWizard** » Tue Feb 20, 2024 8:41 am

Hey all

I'm in the states and have been insuring my Z with liability only through Progressive. Problem is if I get in an accident, it wouldn't take much to total it AND I've put some real $$ into getting this car up to spec. It runs GREAT!!

Does anyone have a recommendation for car comprehensive car insurance that will cover closer to the value I've put into the car? Progressive won't tell the insured how much value it's basing the premium on, so if I get in an accident, I really have no idea how much it's valued at. They say they use the marketplace to determine a value.... I'm skeptical.

Any thoughts?

coldel · Post by **coldel** » Tue Feb 20, 2024 9:37 am

The majority of the members here are in the UK so wont be able to help from a US perspective.

Here in the UK you can get a general comprehensive insurance, this will be based on a book value of the car (you will see this in the documents you get in the event of a claim the process) often this can come in under market value and here you can go back to the insurers and demonstrate that like for like vs market what you think the cost would be to replace the car like for like. That said we had a Ford get written off a few years ago, I was about to put it up for sale as it had various mileage related issues coming up that needed work, it got hit by a delivery van and written off, the insurance company offered much more than I planned to sell it for so I snapped their hand off! You can get agreed value insurances here also, you tend to pay a bit more for these though on the whole.

When you say you have invested $$ do you mean like for like OEM replacements or aftermarket stuff like induction kits/branded exhausts etc? Here you can get insurance companies that would insure your modifications like for like but I have never actually tried using one.

StudioWizard · Post by **StudioWizard** » Tue Feb 20, 2024 4:56 pm

That's really good information. I don't think there are any insurance companies here that will do like for like policies. I have researched that if the car is totaled, you can negotiate that value by showing receipts that might increase the value so it doesn't total out (get written off). But, in the US, you won't know until it happens. YIKES!!!

My investment has mostly been stock parts and repairs. For ex, I had the transmission rebuilt - that was $3500. Engine leaks and other repairs were $2500, plus new tires, etc... It's been adding up!

coldel · Post by **coldel** » Tue Feb 20, 2024 5:54 pm

If its just maintenance costs, then yes you have to swallow those costs as a matter of car ownership. An insurer wont take that into account and pay you back for maintenance of things that break!

So yes if its written off, you would just get the market value of the car. Here anyway.

StudioWizard · Post by **StudioWizard** » Tue Feb 20, 2024 6:02 pm

OTOH, they might take into consideration the range of values due to it being in excellent condition vs crappy condition. I know I'd have to eat some of the costs because that's what cars do - depreciate terribly! haha Or do they?? It's possible our Z4s will become classics. Who knows?

Mike6 · Post by **Mike6** » Tue Feb 20, 2024 7:04 pm

We also have the issue here that if you carry out work like engine and body modifications or a non stock exhaust your insurance is invalid if you havent notified your insurer and have an accident. The dilema of course being that if you tell your insurer they are likely to hike your premium or refuse cover if they think you are a boy racer. Normal work that keeps your car stock or how it left the factory does not have to be notified but cover only relates to whether car is in poor, reasonable or excellent condition and I imagine you would have to argue this with the accident assessor.

StudioWizard · Post by **StudioWizard** » Tue Feb 20, 2024 9:56 pm

I think my ins carrier is the same on that point. They made it sound like they'll appraise a higher value for the car, but they really want to see if you're racing and if that has anything to do with the accident, you're SOL. haha

I'm the last person who'll be racing this car. It's just such a joy to cruise in.

deltasierra · Post by **deltasierra** » Sat Mar 02, 2024 7:30 pm

For even minor damage they write cars off, then pay you market value or even better, a friend had his Toyota damaged, no fault of his, body work only they paid him £9k, he bought the car back for £4k, then paid £ 1200 to fix the damage.
It is now Cat N of course but the car is 10 yrs old, no complaints from him.

StudioWizard · Post by **StudioWizard** » Sat Mar 02, 2024 11:05 pm

I've put about $13k into this car (am I crazy?? yes, a little) and the value of used cars has really gone down in the US the last several months. Maybe this 2.5i will become a classic?? Maybe. Maybe not. Hard to know. The car runs really well, but Z4s are selling for $3k-12k depending.

My car was hit by a dude in a raised up pickup truck which messed up the left rear quarter panel. He paid me cash and I bought the same color panel on Ebay for $250. Body shop installed it for $200. Not bad.... Meanwhile, I got real quotes varying from $1800-$5000 to fix it. I was in shock. haha It's such a scam.

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