Insurance Rates

[dkhm3]

Switch to a m3. It's four doors and cheaper! Looks better and faster on a track

[sunnyboy]

Mine only went up about $240 from a 2008 335i Cab to 2015 M4.

It depends on the driver (of course) and also the car. When I got the 2002 M3, I was completely rejected from Royal & Sun Alliance (after 1 year of support) because they don't support the M3 (performance / exotic cars) anymore. So, I had to look around. I found insurance with Co-operators and they actually jacked it up from $2000 (at R&A alliance) to $6400 (co-operators). Needless to say, I got rid of my M3 within a year, as the insurance alone would run me dry.

[Greg FEightytwo]

I pay about 1800 a year for my M4 replacement cost 93,000.

I have high limits. OEM endorsements for new parts not refurbished. Glass coverage and residual debt coverage. 6000.00 in after market coverage is included since my akrapovic will not be covered without that extra coverage. 500 deds comp coll. I think you are getting surcharge for the zip code. I know when I lived in San Francisco it was 50-100 a month higher because of the higher density of people and potential for claims.

Originally Posted by arube1

I was just told that my Insurance for the m4 will increase by $2400 for the year....that is crazy...that is 2400 more than my Audi s5 that I just turned in...anyone else getting similar rates? Not sure I can afford such an up charge...

[tdizzle]

Originally Posted by Wah

I switched to Liberty Mutual from GEICO last month... insurance went down $1000 per year. My home insurance also went down $1000. Call them!

Liberty Mutual is a BMW partner so you get a rate discount and they use OEM parts for repairs.

It's all about how much money they can make off of you and how many claims both you've had and they've had to pay out. Moving to my current zip code which is all of 10 miles from my old one had my rates increase about 10% previously.

I had liberty mutual for 5 years and they were great for the first 3. Then we had bad storms and they had to pay out claims. My home insurance went up 25% in year 4. Then another 35% in year 5. My insurance basically doubled from what I paid in year 2 to year 5. In year 5 my car insurance actually went up by about 15%. That's when i said enough is enough.

I've had one claim ever (a windshield crack from a rock) and no tickets in the last decade. When I asked why my homeowners insurance went up those times they said it was due to the claims they had to pay out to other people (Ive never had one). When asked why my car insurance went up (my car hasnt changed other than it's now got 22k miles on it whereas last year it had 10k..) they said basically the same thing. They had to pay out claims more than anticipated in the area so they had to raise rates.

I shopped around and multiple places were a bit cheaper but settled on one that gave me a very good rates and now basically pay what I paid 2 years ago with Liberty Mutual.

Long story short, shop around.

[Wah]

I plan to shop every year or two. Something I never did before, but now I know...

[Roadkiller]

Originally Posted by /// M sa

I pay 98 bucks a month

Yep, I was quoted $100 per month.

[m4pewpew]

Anybody on Progressive? They don't even have the M4 as an option, not sure how to get an accurate quote.

[Aralan]

Originally Posted by arube1

I was just told that my Insurance for the m4 will increase by $2400 for the year....that is crazy...that is 2400 more than my Audi s5 that I just turned in...anyone else getting similar rates? Not sure I can afford such an up charge...

There's something wrong there. I paid $1537/yr for my 2012 E92 M3, my 2015 F80 M3 is $1470/yr. I'm on Long Island also.

[CHEKM4TE]

I'm paying 1,400 every 6 months. It all boils down to your driving record. Esp since you're in NY, I am as well. Do you have any points on your license ? thats whats probably inflating the premium.

To circumvent that, shop around! or try to put the car under another family members name with a clean slate on his license!! Or take take the defense driving course, it shaves 10% off your premium. Not much, but it helps.

[mariusz335i]

$1600 a year for 2013 Lexus Rx350 and 2015 M3. Recent switch from 2011 535i to 2015 M3 increased my premium be $10 a month.

[arube1]

Ok a huge mistake.... The insurance guy forgot to remove my Audi which I turned in a few weeks ago....so it is going up $ 63 a month....not $ 200 a month....a huge difference....

[jewels]

Originally Posted by arube1

Ok a huge mistake.... The insurance guy forgot to remove my Audi which I turned in a few weeks ago....so it is going up $ 63 a month....not $ 200 a month....a huge difference....

NEVERMIND

Nationwide $500 deduct, 300-500, full glass, $87K Value $980yr.

Some area's have an awful "Territorial Multiplier"
also been with them for 30 years....

[elias]

I have a $1000 deductible, clean record and I pay $872 a year, I have Geico!

[chiplee]

$59/mo. Pays to be old with a clean record and a 17 year history with one (good) company. USAA!

[YMB-M3-J2]

horrible driving record here...went from f30 to f82 and my policy went up $200 every 6 months...total of $125 per month for 300,000/100,000 coverage with Esurance

[Accel Junky]

I just started my policy yesterday for the M3. $565 every 6mo with State Farm. That's with every discount. My wife's M3 is $610 every 6mo for some reason. 30yo, metro Atlanta GA.

Can't beat their prices. I tried with USAA but for some reason they are more expensive.

[JTO24]

Originally Posted by tdizzle

It's all about how much money they can make off of you and how many claims both you've had and they've had to pay out. Moving to my current zip code which is all of 10 miles from my old one had my rates increase about 10% previously.

I had liberty mutual for 5 years and they were great for the first 3. Then we had bad storms and they had to pay out claims. My home insurance went up 25% in year 4. Then another 35% in year 5. My insurance basically doubled from what I paid in year 2 to year 5. In year 5 my car insurance actually went up by about 15%. That's when i said enough is enough.

I've had one claim ever (a windshield crack from a rock) and no tickets in the last decade. When I asked why my homeowners insurance went up those times they said it was due to the claims they had to pay out to other people (Ive never had one). When asked why my car insurance went up (my car hasnt changed other than it's now got 22k miles on it whereas last year it had 10k..) they said basically the same thing. They had to pay out claims more than anticipated in the area so they had to raise rates.

I shopped around and multiple places were a bit cheaper but settled on one that gave me a very good rates and now basically pay what I paid 2 years ago with Liberty Mutual.

Long story short, shop around.

+1 the reason Liberty Mutual was going to raise my premium by $300/ yr I asked what for and they said due to the payouts made for Super Storm Sandy and "statewide premium increases".

[dmk08]

Originally Posted by Accel Junky

I just started my policy yesterday for the M3. $565 every 6mo with State Farm. That's with every discount. My wife's M3 is $610 every 6mo for some reason. 30yo, metro Atlanta GA.

Can't beat their prices. I tried with USAA but for some reason they are more expensive.

Crazy my state farm quote was way higher than this and my nationwide.

[Drizz]

In always shopping around for the best rates. With Geico my rate increased about 15/month over what I was paying for my 335is.

[335ItotheSky]

Originally Posted by chiplee

$59/mo. Pays to be old with a clean record and a 17 year history with one (good) company. USAA!

How old? Approx. may I inquire Sir? I too have USAA, but my rates have been on the rise for the past several years.

I agree that a $2,400 increase is utterly insane. I have 2 motorcycles (both at or over 1,000 c.c.) and 3-over $60k vehicles on my policy with $1m coverage across the board, $500 ded., medical, and the highest limits avail. from USAA. My total yearly premium is about $2,400.00 for all 5 vehicles with 2 drivers in the household.

Driving record: No tickets for over 20-yrs. / Under 40, but over 35. Shop around? Was with progressive in AZ, moved to CA and my rates went up 100%. Called USAA and ended up with rates lower than what I was getting in AZ.

If you go with Progressive, do NOT volunteer for their "black box" program in your car. Many people have had their rates go up, rather than down, after agreeing to use the device for a few weeks.

Think I'm going to shop around a bit, though. In my case, for whatever reason, my rates are not decreasing with age/marriage/additional policies, etc. (Have 7 policies with USAA, in total) and I still think I'm paying too much.

[335ItotheSky]

Originally Posted by Accel Junky

I just started my policy yesterday for the M3. $565 every 6mo with State Farm. That's with every discount. My wife's M3 is $610 every 6mo for some reason. 30yo, metro Atlanta GA.

Can't beat their prices. I tried with USAA but for some reason they are more expensive.

This is great info! I'm going to call them now! A few years ago NO ONE could touch USAA's rates. It's a shame, as they're a great company to work with (usually). But, money is money. Glad to hear I'm not the only one to find USAA is no longer the least expensive option (in this particular case)

[Launch Control]

Originally Posted by Vigilant

Look for a new carrier. I use USAA and my insurance cost increased $600 for the year. The increase is primarily for the "new car status". $2400 is exorbitant...unless you have a suspect history with driving, i.e. multiple speeding tickets, at fault accidents with citations, DUI.

I also have USAA (which I absolutely love and highly recommend) and my M3 caused my insurance to go up around $400 for the year. The M3 will be a second car for me so that's why I think the increase was reasonable.