ZHP Insurance, Trying to Make it Better

[3ZHPGUY]

So, I’ve listened to many horror stories here about what insurance companies are willing to pay when something bad happens to one of our ZHPs. I decided to take some steps to preplan for this so, I’m well prepared if anything should happen.

It all started Friday when we were talking to our State Farm agent about some extended blanket coverage. When we were done with the blanket thing, I started asking about what I would be offered if something were to happen to my ZHP. Lee (my agent’s name) told me probably NADA book value. He then looked it up on the consumer’s web page and found 8K. We talked about that and what I felt may be the true value, due to what I’ve seen folks pay here on ZHPMAFIA. With that he made a few calls and was told that classics start at 10 years. He asked a few more questions to see were we had to do and as a result, I sent him off some pictures, my mileage LOG and a few links from this place.

The info is now in the hands of a guy that handles this type of thing and I’ll report out on the results as soon as I know more.

[slater]

great stuff, guy - i look forward to hearing your results.

my car is no garage queen by any means, it get used thoroughly - and maintained thoroughly - but replacement value is important to me as if i were to replace it, it certainly wouldn't be $8K.

peter

[ryankokesh]

I was just thinking about giving my agent a call regarding this the other day... thanks for digging into it!

[3ZHPGUY]

No problem guys> FYI: I also talked to Hargerty but, never filled out the application at this point and after talking with Lee that would void my new blanket coverage, if I don't go with State Farm on all my toys.

[johnrando]

Let us know. I use Haggerty on my TR8.

[NYRhockey]

OP, how many miles on your ZHP? $8K seems low for what i've seen on sale on this board alone. I just went to NADAguides.com and there's no option to select the performance package.

[theothersawyer]

The NADA thing was messed up when I was applying for a loan. You couldn't chose manual transmission and performance package. So I got $1100 less than I should have for my loan. I'm also paying way to much for insurance, that's the downside of being a "21 year old male with a BMW" those that the exact words from my insurance agent. I'll be changing insurance companies soon!

[stephenkirsh]

Interesting idea. Subscribed

[SoDelBMW]

The NADA thing was messed up when I was applying for a loan. You couldn't chose manual transmission and performance package. So I got $1100 less than I should have for my loan. I'm also paying way to much for insurance, that's the downside of being a "21 year old male with a BMW" those that the exact words from my insurance agent. I'll be changing insurance companies soon!

Yeah same here, 17 year old male driving a BMW must scare people for what I am paying for insurance.

[stephenkirsh]

I thought it was based on horse power, not brand.