[MPR]

The cost of repairs for a given vehicle specifically impacts the cost of comp and collision coverage, which is what covers your own vehicle in the event you are at fault in a collision, or hit an animal/experience vandalism.

Other coverage premiums are typically constant across all vehicle types, assuming they are equipped with ABS, airbags, and other safety features. Rear wheel drive & higher hp may come at a slightly higher cost due to increased risk of liability claims.

[thecrimsnchin]

Originally Posted by devon

insurance in the US looks expensive!!!
I'm in the UK in Devon and fully insuring my 240i is £245 a year that around $300 why is it so expensive there?

Heh, I wonder what’s different about Chicago from Devon, England that might affect insurance rates hmmm 🤔

[RockCrusher]

Originally Posted by Isamu982

Just curious on what you all are paying for insurance. I'm currently with GEICO paying 1200 a year for my wrx. When I got a quote for the m240 it said it was going to go up to 2100 a year. I was expecting it to increase, but not that much. Is this rate normal?

Was paying around $1800/year for both my 2020 M-B cargo van (personal use vehicle) and my 2020 Dodge Challenger Scat Pack.

When I got the 230i my insurance went down by about $5/month or $60/year.

Oh, I'm with State Farm. And in Benton County AR. And retired so both vehicles are for "pleasure".

[M240SLC]

I just ran some rates for myself and my wife (38/33 in Utah w/o any recent tickets/claims) on Progressive with 100/300/100:

100/300/100 ($831 / 6 months)
2004 Celica GT (liability only)
2022 RX350 F Sport ($750 deductible on Comp and Coll, no rental/roadside coverage, but loan/lease payoff coverage)
2023 M240i ($750 deductible on Comp and Coll, no rental/roadside coverage, but loan/lease payoff coverage)

100/300/100 ($785 / 6 months)
2004 Celica GT (liability only)
2022 RX350 F Sport ($1000 deductible on Comp and Coll, no rental/roadside coverage, but loan/lease payoff coverage)
2023 M240i ($1000 deductible on Comp and Coll, no rental/roadside coverage, but loan/lease payoff coverage)

Only the RX350 is used for work commuting (~10mi each way), as I work for home and labeled the Celica and M240i as "recreational."

[devon]

Originally Posted by thecrimsnchin

Heh, I wonder what’s different about Chicago from Devon, England that might affect insurance rates hmmm 🤔

yes fair point they turn the traffic lights off at 9pm here in the winter as no one goes out.....

[KJ10]

I am paying right around $2400/year w/$500 deductible for my 240 in Oakland County Michigan. Never any claims, no tickets.

[LivingInSalt]

Originally Posted by KJ10

I am paying right around $2400/year w/$500 deductible for my 240 in Oakland County Michigan. Never any claims, no tickets.

When is the last time you changed auto insurance companies?

[KJ10]

Originally Posted by LivingInSalt

When is the last time you changed auto insurance companies?

This year when I got the car actually. I should mention I am on the younger side (27) which must play a very large factor. As I mentioned I have never have had and type of tickets and never had to file a claim for an accident. I figured my rates would be a little higher as this is my first BMW and I just know they are more expensive to insure. Looking at some others rates in this thread I am definitely up there towards the high end.

[LivingInSalt]

Originally Posted by KJ10

This year when I got the car actually. I should mention I am on the younger side (27) which must play a very large factor. As I mentioned I have never have had and type of tickets and never had to file a claim for an accident. I figured my rates would be a little higher as this is my first BMW and I just know they are more expensive to insure. Looking at some others rates in this thread I am definitely up there towards the high end.

Sounds like you've done what you could. There are just so many people who stay with the same company year after year and don't realize the creep that happens over the years. It's always worth it to shop around every year

[KJ10]

Originally Posted by LivingInSalt

Sounds like you've done what you could. There are just so many people who stay with the same company year after year and don't realize the creep that happens over the years. It's always worth it to shop around every year

Totally agree, this was my first year coming to that realization, hence why I am with a new company. But going forward I plan to shop around and keep my agent honest every year.

[M240SLC]

Originally Posted by LivingInSalt

Sounds like you've done what you could. There are just so many people who stay with the same company year after year and don't realize the creep that happens over the years. It's always worth it to shop around every year

+1

I flip/flop all the time. Competing insurance companies always cut you a deal for the first year it seems.

[MPR]

Yeah they likely bring you in as clean/neutral and then start charging you at renewal for what they should have been charging you from the gate. They probably hope that most people are too lazy to switch once they have you.

[RockCrusher]

Originally Posted by ryo-

I'm paying $180/mo in California. late 20s and no recent accidents/tickets. $500 deductible with uninsured motorist coverage (get this if you don't have it).

When I lived in CA I checked and the insurance company (AAA) would not write a policy with no uninsured or underinsured coverage.

The word is 1 in 5 CA drivers is uninsured. Don't know how many are underinsured. (Underinsured can be a real problem. I had a brand new 2008 Cayman S hit and the Cayman was declared a total loss. Trouble is the insurance on the car that hit me had a $50K liability limit and the Cayman stickered for $62.6K. I was made whole by the at fault driver's insurance company but it took a letter suggesting if I wasn't I would be forced to go to a civil court. The owner of the vehicle carried but $50K liability but had a house worth way way more. I had a chance to speak to the car owner's insurance agent. I scolded him on writing just a $50K liability policy with a many hundred thousand dollar house at risk.)

Actually with the requirement one carry uninsured or underinsured coverage even the 1 out 5 drivers has insurance. It is just being provided courtesy of whoever the driver runs into. Unless two uninsured cars are involved in a wreck.

[dy444]

FWIW, I live in London and my existing insurer quoted virtually the same for an M240i as I pay for my M4 (£20 pa less for the 240).

[pbw]

My 240i is the cheapest car I've insured. Have had many beemers previous to this car. Based in the U.K.

[RockCrusher]

Originally Posted by MPR

Yeah they likely bring you in as clean/neutral and then start charging you at renewal for what they should have been charging you from the gate. They probably hope that most people are too lazy to switch once they have you.

I wouldn't be surprised.

My experience has been I get better rates with a company for remaining a "loyal" customer. To be sure when seeking insurance with a new company -- such as I did when I moved from CA to AR (I had AAA in CA) -- I shop premium cost. Just so happens I found here State Farm offered the lowest cost insurance in my case.

Last renewal time I got a quote from (MO) AAA (which also offers coverage in AR). AAA came in higher than State Farm. With some fudging and if I agreed to use the AAA application the agent got the cost down to within +/- a few dollars of what I was paying with State Farm.

But I don't like the "app".

So I stuck with State Farm. I get multiple car discount and my renter's insurance is with State Farm and that gives me a bit of a discount as well. When I buy a house I'll probably insure the house with State Farm.

Oh, and it probably doesn't apply to those here but some states allow the insurance company to consider one's credit score in setting insurance premium.

[MPR]

I provided some info on the mindset behind credit score usage by insurance companies a few posts ago.

[RockCrusher]

Originally Posted by MPR

I provided some info on the mindset behind credit score usage by insurance companies a few posts ago.

Yes you did. I reviewed your posts and read it.

[despitethetimes]

I don't drive much (300 miles/month average) and I pay around $1000/yr living in Chicago. Just depends on how much I drive. It's around $50/month and 13.5 cents/mile.

[oncityce]

my geico $1340/yr $1000 ded.
SF east bay

[Baldilocks73]

Originally Posted by devon

insurance in the US looks expensive!!!
I'm in the UK in Devon and fully insuring my 240i is £245 a year that around $300 why is it so expensive there?

Watching Top Gear for years you would think that insurance rates in the UK were astronomical.

Don't have mine yet but was quoted $960 a year from State Farm.

[armandnouri]

lol I'm 19 and pay 750 a month for my m240.