American Modern insurance is awesome
I just called American Modern to find out how much it would cost to insure the E46 if I keep it as a backup car.
Total cost per YEAR: $124
Declared vehicle worth: $7,000
Miles allowed to drive per year: 3,000
Allowance for driving vehicle to work: 2x per week
Full coverage (Collision and Comprehensive)
Deductible: $250 (required due to low value of vehicle)
Liability: 100k/300k
I'm not sure how much of that is because it's a second vehicle with them (I also use them for the Cayman) but that's fantastic.
The only gotcha is that they will only insure vehicles that are locked in garages. If I end up parking mine outside at night and it gets stolen, I might be out of luck.
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