M3 Insurance

[K335i]

I pay $1100 a year for my 09 E92 M3 and my wife's Accord. No accidents, no tickets (great lawyer), own two residences, 800+ credit score, etc. It pays to shop around and it pays to have multiple policies through your insurance provider (auto, homeowners, umbrella, etc.) to maximize your discounts. We are with Allstate and absolutely love their service.

[mPlasticDesign]

Originally Posted by K335i

I pay $1100 a year for my 09 E92 M3 and my wife's Accord. No accidents, no tickets (great lawyer), own two residences, 800+ credit score, etc. It pays to shop around and it pays to have multiple policies through your insurance provider (auto, homeowners, umbrella, etc.) to maximize your discounts. We are with Allstate and absolutely love their service.

+1, I have Allstate, quite happy with them and have multi-policies. They work great for people like you and me but not so much for people with colorful driving records, single policy, younger, mediocre credit score, etc.

[GregW / Oregon]

Originally Posted by ///Metak

+1, I have Allstate, quite happy with them and have multi-policies. They work great for people like you and me but not so much for people with colorful driving records, single policy, younger, mediocre credit score, etc.

Agree on Allstate. Since I'm a longterm customer, they actually "forgave" a little $2k incident I had with my last car.

[PalestineM3]

Originally Posted by jimh103

i am currently paying 2400/six months with farmers and i am 20. I think it's ridiculous. I think i need to change a company

I know this is REALLY old but im trying to decide between e90 m3 and e92 and im currently paying 5k liability insurance on my 335is....? Also farmers..... have 2 accidents one when 17 one when 18 and 2 speeding tickets also 17 and 18...have been clean for 3 years wondering what the fuck is going on? Any suggestion for e90 vs e92 for insurance ?

[jiggz]

Originally Posted by PalestineM3

I know this is REALLY old but im trying to decide between e90 m3 and e92 and im currently paying 5k liability insurance on my 335is....? Also farmers..... have 2 accidents one when 17 one when 18 and 2 speeding tickets also 17 and 18...have been clean for 3 years wondering what the fuck is going on? Any suggestion for e90 vs e92 for insurance ?

Wow, quite a thread bump!

Anyhow, you're paying $5K a year for liability only...is that what you mean? If so...whoa!

Anyhow, E90 vs. E92 is not going to be much difference at all for insurance. Maybe a bit more for E92 as insurance companies typically charge more for a coupe than a sedan.

Your rate is based on a million different factors in today's insurance world (I've worked in the industry for 20 years now)...age, gender, marital status, education, zip code, credit score, claims history, driving record, coverages/deductibles you select, # of vehicles in household, other policies with same insurer...the list goes on and on...

I don't think you'll find huge saving going with one company over another, they all base your rate on all or most of the factors noted above, and then some. The best thing you can do is stop getting into accidents and stop getting tickets and wait it out until your 25...at that point you'll see a significant rate decrease. Or get yourself married, get a degree, move to the country...those will help your rate

[65fastback]

Originally Posted by PalestineM3

I know this is REALLY old but im trying to decide between e90 m3 and e92 and im currently paying 5k liability insurance on my 335is....? Also farmers..... have 2 accidents one when 17 one when 18 and 2 speeding tickets also 17 and 18...have been clean for 3 years wondering what the fuck is going on? Any suggestion for e90 vs e92 for insurance ?

$416.66 per month for liability only? YIKES! mind blown!

i have state farm they are the best rate for me... however Iam old and don't speed ( much ) and haven't had a accident in the early 90's.

Keep your nose clean and you rates will slowly go down. Slowly!

[PalestineM3]

Originally Posted by jiggz

Wow, quite a thread bump!

Anyhow, you're paying $5K a year for liability only...is that what you mean? If so...whoa!

Anyhow, E90 vs. E92 is not going to be much difference at all for insurance. Maybe a bit more for E92 as insurance companies typically charge more for a coupe than a sedan.

Your rate is based on a million different factors in today's insurance world (I've worked in the industry for 20 years now)...age, gender, marital status, education, zip code, credit score, claims history, driving record, coverages/deductibles you select, # of vehicles in household, other policies with same insurer...the list goes on and on...

I don't think you'll find huge saving going with one company over another, they all base your rate on all or most of the factors noted above, and then some. The best thing you can do is stop getting into accidents and stop getting tickets and wait it out until your 25...at that point you'll see a significant rate decrease. Or get yourself married, get a degree, move to the country...those will help your rate

hey lol no one ever taught me how to drive so I had to learn the hard way. (the scratches pulling in the garage was the WORST lmao) but I was just a kid then now, I am like the chris harris do not worry Gotcha, will deff grab e92 m3 then. Degree im sooo close! married: ew but have been clean for some time, so I do believe will go down soon....

[PalestineM3]

Originally Posted by 65fastback

$416.66 per month for liability only? YIKES! mind blown!

i have state farm they are the best rate for me... however Iam old and don't speed ( much ) and haven't had a accident in the early 90's.

Keep your nose clean and you rates will slowly go down. Slowly!

thank you :-) noted. Idk how old you're talking, but old man + e92 m3 = PIMP

[UPSROD]

Originally Posted by PalestineM3

thank you :-) noted. Idk how old you're talking, but old man + e92 m3 = PIMP

That's how I feel about old men in new Corvettes, why I have an E 92 M3!

[loveskiing]

Originally Posted by PalestineM3

thank you :-) noted. Idk how old you're talking, but old man + e92 m3 = PIMP

PIMP? Hardly...rather a purveyor of pleasures designed to please picky and particular patrons...

[65fastback]

Originally Posted by PalestineM3

thank you :-) noted. Idk how old you're talking, but old man + e92 m3 = PIMP

I figure you must be in your late teens or twenties therefor... 51 would be considered old. Do i still qualify for pimp status?

[PalestineM3]

Originally Posted by 65fastback

I figure you must be in your late teens or twenties therefor... 51 would be considered old. Do i still qualify for pimp status?

Hahaha good guess I am indeed in my 20s. Yes, you still qualify for pimp status... If I saw a 51 year old in an e92 m3...I would know he is a boss.....this car is one of a kind. If I saw 51 year old in m4...thumbs down lol see them all the time but never saw an older gentlemen in an m3 e92....

[65fastback]

My State farm auto renewal came in the mail today and it went up $208.00 per year and iam PISSED OFF !

~ just got off the phone with my agent and was told State Farm has re assessed & raised the rates for owners of 2013 bmw m3's in the king county seattle area , apparently there have been more claims made among many other factors went into the rate increase so time to jack up the prices... on EVERYONE.

My record remains 100% clean with No claims or policy adjustments made...no ticket's or accidents but my rates just went up $208 because i have M3 ? F ing unbelievable.

Take a clue from a 51 year old pimp...Please dont drive like a dick and ruin it for everyone :-)
Thank you.

[jiggz]

Originally Posted by 65fastback

My State farm auto renewal came in the mail today and it went up $208.00 per year and iam PISSED OFF !

~ just got off the phone with my agent and was told State Farm has re assessed & raised the rates for owners of 2013 bmw m3's in the king county seattle area , apparently there have been more claims made among many other factors went into the rate increase so time to jack up the prices... on EVERYONE.

My record remains 100% clean with No claims or policy adjustments made...no ticket's or accidents but my rates just went up $208 because i have M3 ? F ing unbelievable.

Take a clue from a 51 year old pimp...Please dont drive like a dick and ruin it for everyone :-)
Thank you.

Your insurance agent is just trying to settle you down, it's not specific to a 2013 M3! Personal lines insurance rates in WA state are going up across the board. I work for a fortune 100 insurance carrier (not State Farm) and we increased rates 30% in WA State. It's a sign of the times my friend. More people on the road + more idiots on the road + more distracted drivers on the road = more accidents and/or more potential for accidents. That plus increased body shop rates and/or cost of parts, and cost of repairs go up. Which means, your insurance rates go up! Insurance companies aren't in business to lose $. So when repairs and parts and likelihood of accidents go up, so do your rates. Regardless of weather or not you've been in an accident/received a ticket in the last 10 years.

You can shop around, and probably find a better rate. But keep in mind, most of these insurance companies have a 'get you in the door rate' but after a year and/or renewal, your rate will re-adjust based on you driving characteristics.

[65fastback]

Originally Posted by jiggz

Your insurance agent is just trying to settle you down, it's not specific to a 2013 M3! Personal lines insurance rates in WA state are going up across the board. I work for a fortune 100 insurance carrier (not State Farm) and we increased rates 30% in WA State. It's a sign of the times my friend. More people on the road + more idiots on the road + more distracted drivers on the road = more accidents and/or more potential for accidents. That plus increased body shop rates and/or cost of parts, and cost of repairs go up. Which means, your insurance rates go up! Insurance companies aren't in business to lose $. So when repairs and parts and likelihood of accidents go up, so do your rates. Regardless of weather or not you've been in an accident/received a ticket in the last 10 years.

You can shop around, and probably find a better rate. But keep in mind, most of these insurance companies have a 'get you in the door rate' but after a year and/or renewal, your rate will re-adjust based on you driving characteristics.

I totally understand all of that! however what i dont understand is why my agent would say 2013 bmw m3 specifically in your area ( king county ) rate increase. This would not settle anyone down... and if it were explained like you just did i would be slightly more understanding.

After we looked at my policy we discovered i qualify for "low milage" 7500 or less a year discount , this all but wiped away the rate increase. I have been with them for 7 years now and have just about every discount they offer multi car / homeowners ect ect..... a few months ago i shopped around and they where the best rate i could find.

For those of us not in the insurance business ....Perhaps They should find a better way to explain and notify us policy holders of relevant rate increases rather than slipping it in the fine print on a regular renewal notice and not giving a good explanation when asked. In fact a HORRIBLE explanation!

[Dlpfcb]

Whoa this are some big insurance bills, I pay $1350 a year for an 04 M3, 08 M3 and an 15 Nissan Altima, and that's with max coverage and an additional max umbrella. Perfect credit and clean record.

[UPSROD]

Originally Posted by 65fastback

I totally understand all of that! however what i dont understand is why my agent would say 2013 bmw m3 specifically in your area ( king county ) rate increase. This would not settle anyone down... and if it were explained like you just did i would be slightly more understanding.

After we looked at my policy we discovered i qualify for "low milage" 7500 or less a year discount , this all but wiped away the rate increase. I have been with them for 7 years now and have just about every discount they offer multi car / homeowners ect ect..... a few months ago i shopped around and they where the best rate i could find.

For those of us not in the insurance business ....Perhaps They should find a better way to explain and notify us policy holders of relevant rate increases rather than slipping it in the fine print on a regular renewal notice and not giving a good explanation when asked. In fact a HORRIBLE explanation!

Did he tell you about the Drive Safe and Save plan? I save using it because I don't drive anywhere near 7500 miles per car a year. I have every discount and have been with them for 27 years. The last M3 payment was 273.00 for 6 months.

[jiggz]

Originally Posted by 65fastback

I totally understand all of that! however what i dont understand is why my agent would say 2013 bmw m3 specifically in your area ( king county ) rate increase. This would not settle anyone down... and if it were explained like you just did i would be slightly more understanding.

After we looked at my policy we discovered i qualify for "low milage" 7500 or less a year discount , this all but wiped away the rate increase. I have been with them for 7 years now and have just about every discount they offer multi car / homeowners ect ect..... a few months ago i shopped around and they where the best rate i could find.

For those of us not in the insurance business ....Perhaps They should find a better way to explain and notify us policy holders of relevant rate increases rather than slipping it in the fine print on a regular renewal notice and not giving a good explanation when asked. In fact a HORRIBLE explanation!

I hear you, it's all very shady! I just got my auto renewal and my premium jumped $300. No explanation at all, but I figured it was due to a rate increase. And if it is, just spell that out on the renewal right?

In my case my carrier changed how they calculated mileage, instead of distance 1 way to work/school, they are now basing it off annual mileage. Once I updated that, I was able to get back some of the premium increase. Point being, just like you did, it sometimes pays to call your agent/insurance company and double check that you're getting all the discounts you qualify for.

Still, your agent's explanation about a '2013 M3' is strange!

[65fastback]

Originally Posted by UPSROD

Did he tell you about the Drive Safe and Save plan? I save using it because I don't drive anywhere near 7500 miles per car a year. I have every discount and have been with them for 27 years. The last M3 payment was 273.00 for 6 months.

She brought it up by asking how many miles a year i drive, we discovered iam right a the max allowed for the low milage discount so i now have it , not sure what the "drive safe" discount is.

$273 is crazy cheap and typical for a less populated area mine is about $670 for 6 months.....Richland WA vs seattle WA rates will be slightly different just slightly HAAAA!
Seattle is the new San Francisco minus the good weather

[65fastback]

Originally Posted by jiggz

I hear you, it's all very shady! I just got my auto renewal and my premium jumped $300. No explanation at all, but I figured it was due to a rate increase. And if it is, just spell that out on the renewal right?

In my case my carrier changed how they calculated mileage, instead of distance 1 way to work/school, they are now basing it off annual mileage. Once I updated that, I was able to get back some of the premium increase. Point being, just like you did, it sometimes pays to call your agent/insurance company and double check that you're getting all the discounts you qualify for.

Still, your agent's explanation about a '2013 M3' is strange!

Just curious are you in seattle or tacoma? and how much did you pay for tabs this year for you m3 & x5?

[jiggz]

Originally Posted by 65fastback

Just curious are you in seattle or tacoma? and how much did you pay for tabs this year for you m3 & x5?

In just north of Seattle, still in King County. Tabs for my 2 cars are due 1 month apart so I bought them at the same time, it was $900ish for both as I recall (this was last summer). My X5 is 3 years newer, it was a few hundred more than my M3.

[65fastback]

Originally Posted by jiggz

In just north of Seattle, still in King County. Tabs for my 2 cars are due 1 month apart so I bought them at the same time, it was $900ish for both as I recall (this was last summer). My X5 is 3 years newer, it was a few hundred more than my M3.

OH! for some reason i thought you were in tacoma i must have confused you with another member here, we are in the green lake area...my m3 was about $668 and her x5 was about $550 ish. This RTA tax is robbery as far as iam concerned, next year should be better with the revised calculation method for it.

I would venture to guess we pay the highest tab renewal in the country.