E46 330 - Modern Classic or GAP insurance

[dhutch]

The car is now 18yo, gets half its book value spent on it a year in keeping it looking and driving tidily, and I have been wondering for a while if I should be insuring it slightly more than just firing it into confused.com and picking the cheapest insurance I recognise the name off.

A lot of classic polices start a 25/35 which puts me out, but some like adrian flux start at 5years (?) perhaps.

Else MSM who I have used for the kitcar in the past do GAP insurance at around £60-80 pa also well.

The car obviously in a way isn't super special, but having spend three years with me wears a matching set of PS4's, a set of bilstein+eibach dampers & springs, new disks and calipers, new front wings and rust treated rear aches, vanos rebuild, new clutch, cooling system, and is a sport spec manual in imola, so you wouldnt be able to just buy one for £1500 on gumtree in time for work the following monday.

Any tips/tricks/reviews welcome.


Daniel

[GreatGranny]

I got decent 'classic' car insurance on my Mark 2 GTI when I owned it.
Think it was 15 years old at the time and I paid a lot less than normal insurance but was only doing 2-3k miles a year.
Unfortunately can't remember who it was with.

PS. Your E46 is only going one way in value IMO.

[dhutch]

GreatGranny said:

Unfortunately can't remember who it was with.

PS. Your E46 is only going one way in value IMO.

Bugger, thanks for the input however.

And yes. Its not the reason for owning it, but I don't think it will devalue any more than it has.


Daniel

[the_g_ster]

An original low mileage car will steady out and maybe even increase in value.

Getting a clean spec pre 02 car on MV's that's not got bits hanging off it is hard work.

[dhutch]

the_g_ster said:

An original low mileage car will steady out and maybe even increase in value.

Getting a clean spec pre 02 car on MV's that's not got bits hanging off it is hard work.

It's a x-reg on 160k, a lot cleaner than most, and basically original bar led rear clusters and clubsport splitter fitted by the previous owner.

As you say, picking up anything remotely like it, certainly if you're looking for one in imola, would be super hard.

Hence I would like insurance the respected that, such that it didn't just get written off on a economic basis based in a book value if someone shunts it. And if it was a total loss, what I got as payout reflected the condition and cost to replace it.


Daniel

[pfnsht]

You'll get a classic policy - try Adrain Flux. Your car is definitely a modern classic already.

Mileage is just a number on cars of this age; yes some people will always want the low mileage cars with crusty bushes and valve seals that they'll never drive but in reality a higher mileage car with mainteance will have had a load of replacement parts so will be in fine fettle.

I have a 95 Corrado VR6 with 151k. Same boat as you, spending loads on it's upkeep. I have a classic policy with an agreed value of £6500. 3000 miles per annum and I pay £180 with a normal excess.

I'm 36, 1 years NCB (but have been a names driver for years).

[dhutch]

Are Flux a good insurer, see the adverts as lot, but always heard mixed (often second hand) stories.

Always fancied a VR6, for no real reason, see garage wishlist!

I'm 32 with years of NCD, but do have my partner who's 28 with some claims insured as a named driver.

[pfnsht]

Yeah they seem fine - but never claimed and hope not too! My polciy isn't with Flux though, they are more the middle man. I did have to ring up and the lady on the phone seemed knowledgeable and we had a chat about Corrado's!

I have my wife as the named driver on mine as well. Funny you like the VR6, I fancy an e46 330ci myself seeing as E30 325i Sports are too expensive these days, but would not sell the VR. I used to own an E36 325i coupe when I was 20 but sadly my confidence out ranked my skill and I wrote it off. Loved that car and at least I have never driven like a tool since.

Edited by pfnsht on Monday 18th March 17:29

[twokcc]

dhutch said:

The car is now 18yo, gets half its book value spent on it a year in keeping it looking and driving tidily, and I have been wondering for a while if I should be insuring it slightly more than just firing it into confused.com and picking the cheapest insurance I recognise the name off.

A lot of classic polices start a 25/35 which puts me out, but some like adrian flux start at 5years (?) perhaps.

Else MSM who I have used for the kitcar in the past do GAP insurance at around £60-80 pa also well.

The car obviously in a way isn't super special, but having spend three years with me wears a matching set of PS4's, a set of bilstein+eibach dampers & springs, new disks and calipers, new front wings and rust treated rear aches, vanos rebuild, new clutch, cooling system, and is a sport spec manual in imola, so you wouldnt be able to just buy one for £1500 on gumtree in time for work the following monday.

Any tips/tricks/reviews welcome.





Daniel

Mines a 2003 face lift which I've owned for last 12years on 80k miles and just got another 12 months MOT on it last Saturday. Got it insured with Lancaster Insurance on an agreed mileage and value policy.of £6k. Tried all "classic" insurance companies when insurance was due last year without any success apart fom Lancaster. Gratuitous pic

[NiceCupOfTea]

I have a couple of agreed value policies with A-Plan (brokers) - was simply a case of emailing some photos and a value and they agreed - slightly older cars though (1991 & 1990) and lowish values - £5-7k. Might be worth a shout.

However, e46 values have a long way to go before they start going up (apart from M3s). Good ones will command stronger money, but you will have a tough time convincing any insurance company that "maintained" = "worth more". They would argue that changing the brakes, tyres & cooling system is part of running the car. They have zero interest in preventative maintenance.

I have sympathy - I own a 2004 330 Sport Touring 6sp. Sadly mine is in typical e46 condition (patches of rust, lacquer peel), although mechanically it is pretty good (cooling system refresh, various gaskets, etc.). I love it though and even on 170k miles it has been a paragon of reliability (jinx!) and it really is all things to all men. I have no idea what I would replace it with... they are a bit of an effort to keep on top of as a daily now... To get all the rust & bodywork sorted would cost several grand and it would still be a leggy old BMW.

Thing is, how much would it cost to replace with a similar car? I could be waiting 6 months for a manual 330 sport touring, and one in decent nick would cost £3-4k. Insurance would laugh if I claimed mine was worth that though...

[dhutch]

twokcc said:

Mines a 2003 face lift which I've owned for last 12years on 80k miles and just got another 12 months MOT on it last Saturday. Got it insured with Lancaster Insurance on an agreed mileage and value policy.of £6k. Tried all "classic" insurance companies when insurance was due last year without any success apart fom Lancaster. Gratuitous pic

Tidy looking example.
Thanks for the heads up, sounds good. What was the reason for no success elsewhere? How does the cost comparison to an equivalent mainstream policy?

[dhutch]

NiceCupOfTea said:

I have a couple of agreed value policies with A-Plan (brokers) - was simply a case of emailing some photos and a value and they agreed - slightly older cars though (1991 & 1990) and lowish values - £5-7k. Might be worth a shout.


....you will have a tough time convincing any insurance company that "maintained" = "worth more". ....

.... how much would it cost to replace with a similar car? I could be waiting 6 months for a manual 330 sport touring, and one in decent nick would cost £3-4k. Insurance would laugh if I claimed mine was worth that though...

I've used A-plan for the kitcar before bad the seem to have reasonable reputation. Never claimed which is always the acid test, and obviously they all use various underwriters.

As you say, hard to differentiate between 'happened to need a bit of work on the brakes for mot' from 'replaced all the disks, pads and front calipers, because one front pad was dragging a bit and I spotted it where most wouldnt have' type work.

However that's the logic between agreed valve, as you can atleast have the debate up front, and get the value of a tidy looking car rather than someones bangnomics cast off.


Daniel

[twokcc]

dhutch said:

idy looking example.
Thanks for the heads up, sounds good. What was the reason for no success elsewhere? How does the cost comparison to an equivalent mainstream policy?

Car wasn't old enough for other insurers(despite what it may say on their websites). originally was going to sell the 330ci as I already transferred insurance to new daily car. Despite having 2 other cars insured with full NCD all general insurers wouldn't mirror this and wanted far more than I was paying for 330ci previously.
Lancaster cost about £270 which included an extra £18 premium for agreed value but restricted to 4k miles p.a. which was slightly more than previously policy with full NCD but no agreed value and no mileage limit.

[dhutch]

Sounds fair enough. It's my daily so I would need 10k pa but can make some calls and or enquire about gap insurance. Cheers.

[Aiminghigh123]

Have you tried footman James?

BMW specialist.

I got my 03 Saab with them. My mate has his e39 m5 and I think he pays £120 a year and his license isn’t very clean.

[dhutch]

As yet I've not tried anyone. I have 6months left on the insurance so am getting ahead, and or, trying work out if I want a different base policy, or top-up gap insurance.

Thanks

[dhutch]

Five years on, I still have the car, and last winter it had a significant refurbishment.

- New rear subframe and diff bushes, inc rear subframe and antiroll bar blasted and powder coated.
- Boot floor cracks welded up and braced with doubling plates from well known company.
- Two new cills and a few other areas repaired and welded up, battery box etc, inc seam sealer and raptor.
- New rear dampers, springs, top mounts etc. Anti rollbar drop links etc.
- New rear disks/pads/shoes/backplates and handbrake cables.
- Two new front wings (again) and a full external repaint to a reasonable standard.
- Replace rear quarterlights seals, door handle seals and drivers side handle carrier.
- New water pump and radiator, header tank level sensor, etc.

Still done nothin about 'agreed valuation' type insurance cover, but the only saving grace is that the values are starting to climb!

According to insurance if I wanted agreed value cover, the first stage would be to find someone to professionally value it, such as a suitably owners club but which I have mean to ask BMW car club GB i have yet to make contact and or join.

https://bmwcarclubgb.uk/

[VeeReihenmotor6]

Good work, i changed my username to something more VR6 specific and still have a Corrado. Not the same one as 2019, stupidily did sell it but promptly bought another and have done a similar list of jobs to you! Except no welding but engine rebuild instead.

Insurance this year for me, via Adrian Flux though have tried others since, was £140 for 3k per annum, garaged and agreed value of £15k.

Any pics of the 330i, still a favourite of mine.

[Mr Tidy]

dhutch said:

Five years on, I still have the car, and last winter it had a significant refurbishment.

Now it's over 20 years old you ought to be able to get cover on a classic policy, possibly with an agreed value. People like Footman James, Classicline. Lancaster and Howdens Thatcham office may be worth trying.

[twokcc]

dhutch said:

Five years on, I still have the car,


+ stuff
https://bmwcarclubgb.uk/

Thanks for update cant rember putting pic f my 330ci in this thread but good to see it again. Sold for just in £6k and interesting history( well I think so) of what replaced i but until your post about what its cost you had largely reagreed moving it on. t. Will update thread later with some .
Did you try Lancaster thinking of trying them again latest convertible is 15 years ld next October (2025) but E91 has just passed 15th birthday.(325d certainly not a classic