Lojack and insurance

lucid · 01-19-2008, 01:54 PM

Do you think Lojack will pay for itself in 4 years on this car? I think my dealer charges $600 for it. I know it reduces the comprehensive coverage item in the insurance contract. When I called a few months ago, my insurance company said something like 25% discount, but they could not tell me the dollar amount since the car wasn't in their system. Anyone managed to get an insurance quote?

timsev · 01-19-2008, 04:22 PM

It's a waste of money if you have BMW Assist. Explain what Assist is to your insurance and they might give you the discount.

lucid · 01-19-2008, 04:30 PM

Quote:

Originally Posted by timsev

It's a waste of money if you have BMW Assist. Explain what Assist is to your insurance and they might give you the discount.

Thanks Tim. I will check with my insurance company.

UltimateBMW · 01-19-2008, 05:43 PM

Keep us posted on what they say about it please! Any discount on insurance for this car would be nice. Esp. since I'm under 25. X.x

BCMPOWER · 01-19-2008, 10:58 PM

I have purchased and have had Lojack on my previous car. I too though you would be applicable for lower insurance rates because of the benefits of Lojack. Unfortunately that is the not the case with my insurance company, which is Geico, the rates stay the same.

WCH · 01-20-2008, 06:57 AM

My X5 4.8 came with a certificate from BMW that stated that the BMW assist was a vehicle recovery device. State Farm treated this like a Lojack and applied the discount.

lucid · 02-01-2008, 02:14 PM

I made the call to my insurance company. This time they had the M3 in their system, so they were able to give me a quote.

I currently have $300000/$500000 coverage with Amica (and only 1 speeding ticket in the past 5 years, and no accidents), and would be paying $1187 for my next annual contract renewal on my 2004 325ci. She said for the 2008 M3, the same coverage would cost me $1368. NOT BAD AT ALL! I was thinking it would be a lot more.

When I asked about BMW Assist, she said if I obtain documentation from the dealer that it can act as a vehicle recovery service, I would get $58 off the annual contract.

drkbrent · 02-01-2008, 05:42 PM

I am an insurance agent and can give free advice if anyone needs it. Amica is an awesome insurance company. They aren't popular here in Louisiana, but they were fairly popular when I lived in Kansas City. I'm guessing M3's won't cost much more than the typical BMW to insure. My reasoning is that most M3 drivers will be older males (who have a good track record i.e. no tickets, accidents, etc.) Lord help you if your a teenager with an M3! I just quoted my M3 and it will be approx. $400 more per year vs. my '07 Lexus GS 350. That's not bad at all.

lucid · 02-01-2008, 06:03 PM

Quote:

Originally Posted by drkbrent

My reasoning is that most M3 drivers will be older males (who have a good track record i.e. no tickets, accidents, etc.) Lord help you if your a teenager with an M3!

Good point. I'm 36. I'm sure the premium would go through the roof if I was 20.

01-19-2008, 01:54 PM	#1
lucid Major General 374 Rep 8,033 Posts Drives: E30 M3; Expedition Join Date: Apr 2007 Location: USA iTrader: (0)	Lojack and insurance Do you think Lojack will pay for itself in 4 years on this car? I think my dealer charges $600 for it. I know it reduces the comprehensive coverage item in the insurance contract. When I called a few months ago, my insurance company said something like 25% discount, but they could not tell me the dollar amount since the car wasn't in their system. Anyone managed to get an insurance quote?
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01-19-2008, 04:22 PM	#2
timsev First Lieutenant 24 Rep 334 Posts Drives: BMW Join Date: Dec 2007 Location: IL iTrader: (0)	It's a waste of money if you have BMW Assist. Explain what Assist is to your insurance and they might give you the discount.
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01-19-2008, 05:43 PM	#4
UltimateBMW Brigadier General 401 Rep 3,288 Posts Drives: MP4 Join Date: Dec 2006 Location: South iTrader: (0)	Keep us posted on what they say about it please! Any discount on insurance for this car would be nice. Esp. since I'm under 25. X.x __________________
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01-19-2008, 10:58 PM	#5
BCMPOWER Captain 29 Rep 626 Posts Drives: 08 Silverstone II M3 Join Date: Dec 2007 Location: Silver Spring MD iTrader: (0)	I have purchased and have had Lojack on my previous car. I too though you would be applicable for lower insurance rates because of the benefits of Lojack. Unfortunately that is the not the case with my insurance company, which is Geico, the rates stay the same.
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01-20-2008, 06:57 AM	#6
WCH Lieutenant Colonel 347 Rep 1,844 Posts Drives: '20 M8C convertible Join Date: Nov 2006 Location: Boston iTrader: (8) Garage List 2022 Porsche Cayenn ... [0.00] 2020 BMW M8C [0.00] 2017 Porsche Macan GTS [0.00]	My X5 4.8 came with a certificate from BMW that stated that the BMW assist was a vehicle recovery device. State Farm treated this like a Lojack and applied the discount.
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02-01-2008, 02:14 PM	#7
lucid Major General 374 Rep 8,033 Posts Drives: E30 M3; Expedition Join Date: Apr 2007 Location: USA iTrader: (0)	I made the call to my insurance company. This time they had the M3 in their system, so they were able to give me a quote. I currently have $300000/$500000 coverage with Amica (and only 1 speeding ticket in the past 5 years, and no accidents), and would be paying $1187 for my next annual contract renewal on my 2004 325ci. She said for the 2008 M3, the same coverage would cost me $1368. NOT BAD AT ALL! I was thinking it would be a lot more. When I asked about BMW Assist, she said if I obtain documentation from the dealer that it can act as a vehicle recovery service, I would get $58 off the annual contract.
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02-01-2008, 05:42 PM	#8
drkbrent Enlisted Member 3 Rep 49 Posts Drives: '08 M3 Join Date: Dec 2007 Location: Baton Rouge, LA iTrader: (0)	I am an insurance agent and can give free advice if anyone needs it. Amica is an awesome insurance company. They aren't popular here in Louisiana, but they were fairly popular when I lived in Kansas City. I'm guessing M3's won't cost much more than the typical BMW to insure. My reasoning is that most M3 drivers will be older males (who have a good track record i.e. no tickets, accidents, etc.) Lord help you if your a teenager with an M3! I just quoted my M3 and it will be approx. $400 more per year vs. my '07 Lexus GS 350. That's not bad at all.
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