Poll: Do you have collision/comprehensive insurance on your E34?

[Nick.Hay]

The works... Cost me $800AUD per year with agreed value of $19kAUD

Tho it has lapsed, and I can't afford to re-insure it just now. As a result, she waits patiently in the shed...

[athflying79]

I carry both because it was only about $75 a month versus like $50 for just the minimum.

[Johntee540]

Full coverage here. In DC there are so many people (Questionable citizenship) driving around without Insurance or licenses that you are at risk of being hit on any given day. The police can do nothing to enforce the Status issue; Lack of ins issue; and I have even been riding with a friend when an illegal hit his car on a public road with no insurance and no valid license and admitted he was illegal - The cops let him walk after exchanging information. His address was fake BTW. - So I keep full coverage any ways - JT

[Alexlind123]

I believe that in Washington at least, "uninsured motorist" insurance is required by law. This covers you if someone with no insurance hits you. My car does not have collision insurance.

Edit: As a relatively new driver, collision insurance would be prohibitively expensive. As it is now, i think my parents pay around $100 a month just for me.

[rot535i]

By the way, rot535i, you have a really nice looking car. I'm not much for red as it attracts cops like flies to ****, but that really looks nice and classy I think.

Arrest Me Red. Some how I have Three red cars. The 90 535i, a 94 Cutlass Conv., a 81 Volvo 240. Recently broke the subconsious habit when I bought the wifes 96 Landcruser (Grey). I was never about red cars and it ended up that way. There will be times on the highway I look into my rearview mirror and the trooper couldn't get closer without bumping me, as people are passing me at a much greater speed. Then the pull away, I just figure the are running my plate for info. I got pulled one time and was told my plate didn't match the vehicle and when I told him I just transfered the plates a couple of days ago he left.

[Beemr750]

Only 100/300 liability for $495 a year,here.Can't get comprehensive only,due to age of the car.
Don't get fooled with "uninsured motorist"
coverage.If you read the fine print it will tell you it is only coverage for medical costs enflicted to you by an uninsured one,And here is another catch,it only pays if you don't have health coverage of any kind of your own.Besides without a shister lawyer forget to collect ever.
I dropped mine imidiately when I found out the hard way about this rip-off,

[JonE]

Here in Minnesota the "uninsured/underinsured motorist" coverage is required by law. You can minimize this useless/unnecessary insurance by requesting the lowest amount of coverage on this as possible. I think here it would be 30/60. I still have full comp/collision with $500 deductible, but might think about changing that due to the value issue...Good thread!

[shadowpuck]

Full coverage as well. I recommend USAA if you or any of your Family have been in the military. They are the best insurance company with the lowest prices. They give you part of your money back if you drive safely, didn't use it on claims, etc.

We have full coverage on the '95 325 and the '93 525.
The cost difference for liability only vs. full coverage on the e34 wasn't much so we sprung for it. Originally, we were only going to have liability on that car.

As to USAA - one thing to point out is to read the declarations/exclusions carefully (well, ok, do that for all contracts/policies) - they are specifically excluding participation in driving schools. That's a whole other thread so I won't go into all the gory details, but a driving school friend of mine is with USAA and we just noticed a new clause in their policies specifically denying any coverage for those events.

This is an interesting twist, because most companies will cover a driving school incident as long as it isn't a timed/competitive event.

[kring]

Someone side-swiped my E34 while it was parked on the side of the road, and then they took off. No one saw it happen. I thought I would be covered under my "uninsured/underinsured motorist" coverage. But my insurance company assured me that only comprehensive coverage (which I didn't have) would help me in that situation. I was pretty pissed off.

Fortunately the damage was only superficial. But since it went down the whole drivers side of the car estimates say it will cost $2500-3000 to fully repair.

[SharkmanBMW]

I go full coverage on both cars... and I pay about $50 less for my 2003 330xi worth 33k CAD compared to my 1994 540 worth $8k CAD!!!
The 330 needs a "boomerang" tracking device for full coverage which is another $100 a year, so total $850 CAD

no logic, but I don't complain when it's half of what I expect them to charge me!!