Cost of insurance for BMW increased??

I just took delivery last Friday so I can't comment on whether the insurance is higher now than what it would have been at this time last year. What I can tell you is that the cost of insuring my '02 330ci is only $50 more per year to cover than my '00 Prelude with the same coverage/deductibles. I've had no tickets, accidents or claims in the past 10 years and get the same multiple car, good driver, etc. discount I had on the other car. I guess it all depends on who your carrier is. I have AAA by the way.

Mike

ayn said:

I just got my insurance renewal certificate, and my insurance increased $300. I have not had a claim nor a ticket nor anything. So I called up my agent and asked her why the increment. She said premium increased for everybody and the "symbol" for BMW increased from 16 to 23, it basically means that statistically, cost of repair on BMWs increased. This sounds kindda strange. Any of you out there are aware of this?

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I took delivery of the car late in November, and the car was insured for the first 30 days through my then-current insurance company. During those 30 days, I shopped around for new insurance.

I got a quotes with American Express and 21st Century prior to December 1st, then went back and signed up with American Express on December 10th. At this point, the rep told me that in California, rates had increased, and that my quote was up over $200 dollars per six months. At 21st Century, I heard a similar story, although the increase was only up around $100 per six months. I asked why, and was told there was a "global rate increase". Bastards.

I ended up going with another insurance provider that I have access to, thanks to the fact that my wife is a school teacher.

When I ordered my bimmer, my insurance company quoted me $2250, by the time the 3 months had gone by and I received it... it went up to $3260.

Stupid, huh?

If I moved from Lowell, MA to nearby Chelmsford (one town over) my insurance would drop to a mere $1830.

Sigh.

Cowboy said:

When I ordered my bimmer, my insurance company quoted me $2250, by the time the 3 months had gone by and I received it... it went up to $3260.

Stupid, huh?

If I moved from Lowell, MA to nearby Chelmsford (one town over) my insurance would drop to a mere $1830.

Sigh.

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Holy Cow(boy)!!! I live in Pembroke,MA , and have paid $900-$950 every year since I've had it (3 years). How the heck do you wind up with $3260? I have friends with CLK's who live in Boston with lower insurance rates than that!!! Are you a step 25?

eugeneDC/TX said:

i just priced it again and it was just over 2k (approx 2070) for the year...

granted i just picked random bodily/injury coverage stuff (about the mid level protection) with a 500 deductible

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oh mine's 100/300/100, but i dont think it matters much, will only be slightly cheaper if i chose 50/100/50... oh well, i kindda expected to pay about $2400 a year when i bought my car... i was surprised how cheap it was when i got the bill 6 months ago, now it's back to what i had expected...

i wonder how much more it would be if i get a Boxster S. I think I should wait til I turn 25 before getting another car.

--Andrew

eugeneDC/TX said:

get the boxster, sell me your steering wheel...

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i think i'd better wait til i turn 25, by then my 330 will be paid off too... so i can keep it at my daily driver... we'll see... i probably won't be in Austin then... haha...

--Andrew

Well, I'm now paying $1,914.00 for the M3/year. Used to pay $1,200.00 year when I had the A4...

The A4 was my "commuting" car. The 325i and the M3 were my "pleasure use" cars. Now that I sold the A4, the 325i is the "commuting car". The M3 is still a "pleasure car", but the funny thing is that the premium increased $714.00/year... I currently have an "issue" open with Metroplitan... I undertand paying more for the 325i as it's now my "commuting" car, but its premium actually went down! Can you believe that? What a rip off... :tsk:

I was pretty happy with Metropolitan. In late 99 somebody hit the A4 at the mall and just took off. They took good care of me and didn't give any crap like "our labor rate is $30.00/hour", etc. But if they don't do something, I'll have to switch to another good insurance company (if there are any out there with competitive prices)...

:yikes: Wow, you guys that are paying thousands of dollars per year really need to shop around. Check with your states insurance commission and see what insurance companies offer the best rates, then get at least three competitive quotes. My quotes ranged from about $600 per year to $1200 per year. Guess which one I went with? :thumb:

34 years old, single, no tickets. 100/300 coverage, $500 deductibles, 2002 325ci.