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      06-16-2009, 11:22 PM   #23
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All I know... is when I sold my M5... (just 2 weeks ago) 2006 model year... for my '08 M3... my Insurance DROPPED 30% between the two cars! So... I think it vary's depending on ins carriers.

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      06-17-2009, 04:08 AM   #24
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Quote:
Originally Posted by mach330 View Post
wtf is a cobalt doing at #11? i think this is bogus as i pay nowhere near that on my ///m (and i'm in cali).
cobalt...
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      06-17-2009, 04:33 AM   #25
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Quote:
Originally Posted by wgf77 View Post
$1400 annually through USAA. 32 single in Chicago. No accidents or tickets in at least 5 years.
USAA is great if you have a clean record. I'd go elsewhere if you have a less than stellar record.
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      06-18-2009, 03:34 PM   #26
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Quote:
Originally Posted by Japanese_Racer View Post
As the title says, noticed an interesting AOL article on the top 20 most expensive cars to insure and the ///M3 was number thirteen(13). Not sure if that's a good thing or ad thing, lol. The ///M5 came in as number seven(7), and the all mighty ///M6 at number three(3).

http://autos.aol.com/gallery/most-expensive-cars-insure

Click on either the next/previous buttons on the bottom of the information box that is to the right of the picture.


It is interesting to me that the $$ are "Average Insurance Premium". Today, I was in my auto insurance agent's office going over coverages and, anticipating the future purchase of an E92 M3, asked what the 6/mth premium would be for same as present coverage -- 100/300/200, $1000 deductible for both Collision/Comprehensive, Med Payments, PIP, Rental, Non-Stacked -- on an '09 coupe. Amount: $421.60/6mths. At that rate, I'm ready to bite today! OTOH, a few hours away, with a Miami area zip code, the rate would have been much higher.



Quote:
Originally Posted by GMT II View Post
Generally speaking a car costs more than its comparable peers to insure if:
A. it tends to be driven by reckless drivers
B. it tends to be driven by younger male drivers
C. it tends to be driven around other cars that are expensive to repair should you damage one
D. it tends to be more expensive to repair than its competitors
E. it is a target for auto theft either for parts or to be shipped abroad

The BMWs fit a few categories.

This is why hyper performance cars tend not to make the list. They only fit category D. It is also why some inexpensive cars do make the list. Remember when the integra was the most stolen vehicle in America? I believe the Escalade has now taken that spot.
The more expensive cars have few claims as a group, aren't stolen like Escalades (as you note), Accords, and are generally "SAFE" bets for insurance companies given the care that the owners give to their rides.

Actuarial studies have found a direct correlation between credit rating and claims filing. The data links applicants with lower credit ratings to being more likely to file a claim which heightens the risk factor to the insurer. Oddly, insurance companies do not always update the credit data which were they to do so, say on a bi-annual basis, could result in premium reductions for clients who had been improving their credit score. However, the residential zip code also factors in far more than I realized.

Also, the sheer number of cars of a specific model (Cobalt anyone?) plays a part as well; the more of a model on the roads, the greater the risk factor which is as likely as not to translate into a greater number of claims by operators of that particular model. Case in point: Chevy Cavaliers; outrageously expensive to insure, according to my agent. Why? Because the relatively inexpensive car is in the hands of teenagers (Their first car?). What I have learned is that where you live, your credit rating, and the model of vehicle that you insure are huge factors in the premium one will pay. Age, marital status, etc.., factor nicely too, but even after eclipsing 25 (a few year ago), my rates have continued to increase w/o claims, wrecks.

BTW, I was talking to an Allstate agent, and did obtain confirmation that where repairs are concerned, OEM parts are absolutely covered by the carrier, BMW, or whatever the make.

My apologies for the lengthy post.
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      06-18-2009, 03:45 PM   #27
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I just learned last week you can't really compare rates without a crucial piece of information: WHO is listed as driver in your policy.

Before I added my teen daughter to my policy I was paying $270 for 'fully-loaded' (max liability, un/under insured, medical payments, etc with $1K deductibles) full coverage on my M3, but now it went up to $450, even though my daughter will never touch that car . And did I mention ALL my cars went up proportionately when she'll only drive ONE??? It absolutely sucks how stupid insurance companies rate teenage drivers, like if they were driving all cars; creeps. But it was more expensive a single policy for her with the car she will drive. Oh well.
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