[imperfectluck]

Originally Posted by Hammer110!

You guys should quote FL lol 👎. Over 8K YR for 22 F90 and 22 X7M50i. Insurance sucks

I’ve had better luck with FL for my multiple residents between NY and FL for auto. The accident rates in NYC has spiked insurance rates to levels I didn’t think I’d be seeing. Hats off to the guy choosing the higher deductible offsetting the 6 month premium.

[subterFUSE]

Originally Posted by Oswiff

Geico is quoting $3200/6 months in NJ.

Good grief! My Hagerty policy on my 2023 R8 Quattro is $3800 per year, and that’s for an agreed value coverage of $230k.

They want you to pay double that for a car worth half as much?

[Oswiff]

Originally Posted by subterFUSE

Good grief! My Hagerty policy on my 2023 R8 Quattro is $3800 per year, and that’s for an agreed value coverage of $230k.

They want you to pay double that for a car worth half as much?

That is correct. However, I live in NJ which has been one of the worst states to write auto policies in the last couple of years between thefts and claims. However, the bulk of the premium for the m5 is coming from collision.

I am leaving Geico and going with Pure, who are quoting me $2814/YEAR which is still high but gives me agreed upon value for all my cars.

I'm sure it'll go up next year, but that'll be a task for then.

[ctelimad]

Insurrances are a big scam and the rates for bmw in NY are outrageous thanks to some stupid kids on the bqe playing games and end up crashing the M3....

Given the extensive rate hikes if you get into an accident I said to myself why not increase the deductible and have lower premium instead paying for insurance that I will not use unless major accident
I learned from other peoples experiences that unless the accident is more then 3 to 4 k not worth to file a claim and better pay out if pocket and get ur car fixed given if u file a claim the rate increase will offset that over time and you end up paying much more then that
This is was my reasoning behind choosing high deductible

[G MONEY]

Originally Posted by ctelimad

Combined i am 2850/ 6 months between g90 m5 and X5 2024 40i
But i also choose high deductibles 2000$ for both cars comprehensive and collision
If I choose 500 will be much higher
I have 0 tickets high credit score and no accidents

Damn bro. You are getting creamed with that high deductible.

[ctelimad]

Originally Posted by G MONEY

Damn bro. You are getting creamed with that high deductible.

Progressive refusing to insure new customers with bmws in NY
All state called agent they said will get back to me... then said they don't want to insure
I was with state farm with excellent rates until my wife got hit from the back by a a guy on his phone while she was on a red light (0 fault) went through the other guy insurance but we had to call the police... end point is state farm did not pay anything and we closed the claim because non fault accident and we went through the guys insurance

One day we get a call from state farm and they dropped us because of too many claims lol
I said we had only 1 claim in 2 years and it was 0 fault and it was closed and u guys did not pay a dime
The guy from state farm said we had glass claims (2 with them for rock ships from the road) and tow claim (mind u it is from geico not from state farm 7 years ago for mechanical breakdown lol)
Then I told the guy but we never had a collision or comprehensive claims and you guys never had to pay except for the glass claims which is separate
Did not know what to answer and He said the underwriting said we are high risk lol
Then I am back to geico
I will keep shopping every few years but sounds like bmw and NY is not a good match and no one wants to insure us

[Oswiff]

Originally Posted by ctelimad

Progressive refusing to insure new customers with bmws in NY
All state called agent they said will get back to me... then said they don't want to insure
I was with state farm with excellent rates until my wife got hit from the back by a a guy on his phone while she was on a red light (0 fault) went through the other guy insurance but we had to call the police... end point is state farm did not pay anything and we closed the claim because non fault accident and we went through the guys insurance

One day we get a call from state farm and they dropped us because of too many claims lol
I said we had only 1 claim in 2 years and it was 0 fault and it was closed and u guys did not pay a dime
The guy from state farm said we had glass claims (2 with them for rock ships from the road) and tow claim (mind u it is from geico not from state farm 7 years ago for mechanical breakdown lol)
Then I told the guy but we never had a collision or comprehensive claims and you guys never had to pay except for the glass claims which is separate
Did not know what to answer and He said the underwriting said we are high risk lol
Then I am back to geico
I will keep shopping every few years but sounds like bmw and NY is not a good match and no one wants to insure us

State Farm definitely doesn’t want to insure me in the tri-state. Agent I spoke to was eager to gain all my policies until I told her about the BMW. Crickets since and it’s been a week.
Geico had no issue with my cancellation, didn’t even try to keep me.
State of insurance right now I suppose.

[ctelimad]

Originally Posted by Oswiff

State Farm definitely doesn’t want to insure me in the tri-state. Agent I spoke to was eager to gain all my policies until I told her about the BMW. Crickets since and it’s been a week.
Geico had no issue with my cancellation, didn’t even try to keep me.
State of insurance right now I suppose.

Yes i am not sure what is going on with insurances and bmw
Once you say bmw no one wants to insure you in NY
Geico only one willing to insure us so I did not have choices
The funny part I did a quote for a porsche turbo s and it came little less then my M5 lol
The car is 100k more
So yes the problem is the Brand (BMW)

[Oswiff]

Originally Posted by ctelimad

Yes i am not sure what is going on with insurances and bmw
Once you say bmw no one wants to insure you in NY
Geico only one willing to insure us so I did not have choices
The funny part I did a quote for a porsche turbo s and it came little less then my M5 lol
The car is 100k more
So yes the problem is the Brand (BMW)

911 gts was 1/2 the premium of the m5 less than a year ago.
I know 911’s are generally less to insure because of the miles most owners put on them but $50k delta.
For kicks and giggles I put in the vin for the rs6 performance I passed on, with Geico the premium was $700 less (every 6 months) than the m5 with an MSRP $16k more.

[ctelimad]

Originally Posted by Oswiff

911 gts was 1/2 the premium of the m5 less than a year ago.
I know 911’s are generally less to insure because of the miles most owners put on them but $50k delta.
For kicks and giggles I put in the vin for the rs6 performance I passed on, with Geico the premium was $700 less (every 6 months) than the m5 with an MSRP $16k more.

Yup it is crazy
When i bought the m5 is got email from bmw for insurances
They are offering insurance support something like that
I did not try to see but I think it is a system to get quotes for your bmw from various insurance companies I assume

[Oswiff]

Originally Posted by ctelimad

Yup it is crazy
When i bought the m5 is got email from bmw for insurances
They are offering insurance support something like that
I did not try to see but I think it is a system to get quotes for your bmw from various insurance companies I assume

I got the same email and went through the form process.
My results were:
"We could not find any carriers in your area. Please call (some 800 #) to speak to a customer service representative."

[ctelimad]

Originally Posted by Oswiff

I got the same email and went through the form process.
My results were:
"We could not find any carriers in your area. Please call (some 800 #) to speak to a customer service representative."

Lol
No insurance wants bmw
Bmw should know about that

[subterFUSE]

When I bought my R8 last year, none of the major insurers would cover it. They all said “no high performance cars.” I had no problem getting my F90 covered with Travelers. But the R8 being double the value I guess scared them off.
Hagerty was my only option. Collectible Car policy. Full value coverage but I’m limited to 3500 miles a year, which is ok because I put less than 3000 on it for year 1.

[DocWeatherington]

Originally Posted by Oswiff

For those who have taken delivery, what are you seeing in terms of premiums whether 6 months or a year?

42 yrs old, married, I currently have Geico (auto only) - zero at faults - one claim (someone ran a red and t-boned my rs6 two years ago. Didn't get totaled but repairs were about $55k. Geico was made whole through subrogation).

Deductibles are $500 comprehensive and $1000 collision. From the breakdown, it looks like the bulk of it is coming from collision - over $1700.

Geico is quoting $3200/6 months in NJ.

So, I learned this on my XM. Hybrids and EVs cost quite a bit more due to the fact of the inability to repair, lack qualified shops to do it, costs of components.

I would shop around as Geico may not be the best option.

Insurance is also based alot on your area.

You could add another policy for multi discount, up deductibles. Does NJ have more than one form of collision coverage? Some states gave 3 tiers

[DocWeatherington]

Originally Posted by ctelimad

Lol
No insurance wants bmw
Bmw should know about that

There was / are/ is a theft ring in the NYC/NJ area targeting higher end cars.

https://www.ice.gov/news/releases/29...car-theft-ring

https://nj1015.com/new-jersey-stolen-vehicles-arrests/


https://www.nicb.org/news/regional-n...-investigation

https://gottheimer.house.gov/posts/n...-lawmaker-says

High area of cars and too easy to get them out of the US via the ports within a few hrs undetected.


Oswiff

[Oswiff]

Originally Posted by DocWeatherington

So, I learned this on my XM. Hybrids and EVs cost quite a bit more due to the fact of the inability to repair, lack qualified shops to do it, costs of components.

I would shop around as Geico may not be the best option.

Insurance is also based alot on your area.

You could add another policy for multi discount, up deductibles. Does NJ have more than one form of collision coverage? Some states gave 3 tiers

Thanks.
Didn’t know hybrids and EVs repairs are costly but if I think about it, I shouldn’t be surprised.

Regarding your other post. I live about 40 min from Manhattan. The port of Newark is probably 20 min away. Car thefts has become a huge issue in my town and neighboring towns over the last 3-4 years. It got to the point where thieves were breaking into homes to get access to car keys often. Someone I know got their home broken into while his wife and daughter were in the house. Stole a g wagon and an s class, left the 911 turbo.
However, the biggest driver in my premium seems to be collision which I would say the cost of repair as you mentioned could be a factor and/or the stereotype of BMW drivers plays a large factor.

[DocWeatherington]

Originally Posted by Oswiff

Thanks.
Didn’t know hybrids and EVs repairs are costly but if I think about it, I shouldn’t be surprised.

Regarding your other post. I live about 40 min from Manhattan. The port of Newark is probably 20 min away. Car thefts has become a huge issue in my town and neighboring towns over the last 3-4 years. It got to the point where thieves were breaking into homes to get access to car keys often. Someone I know got their home broken into while his wife and daughter were in the house. Stole a g wagon and an s class, left the 911 turbo.
However, the biggest driver in my premium seems to be collision which I would say the cost of repair as you mentioned could be a factor and/or the stereotype of BMW drivers plays a large factor.

Yeah, my 23 M3 comp awd was stolen and same thing..Port of Baltimore..gone to never be seen again.

Make sure whomever is your carrier you selected OEM parts If its an option and you have the abilty to chose who repairs the car. But odds are in a with all these hybrids shits getting totaled with the battery not being repairable haha.

Hertz learned this https://www.axios.com/2024/01/11/her...vehicles-20000

[subterFUSE]

Yeah, I think a V8 PHEV in a wreck is going to be totaled almost by default. The tech is just so integrated now and it’s all over the car, plus the added weight means more momentum and hence more damage. A compromised battery can’t be repaired, and replacements are astronomically expensive. Modern cars are basically disposable at this point.

[HC707]

I don't have a G90, but a g80 and Lexus GX460 and am paying $2640 for 6 months in Florida through Costco. Went through a dozen insurance brokers and they can't even come close to this price.
Homeowners insurance is much better especially if you have new construction. Its not easy to bundle auto and home since many insurance companies do not provide homeowners insurance.

[subterFUSE]

FL car insurance rates are high. My parents have homes in SC and FL, and it’s about half as much to insure their cars in SC.

[G80POWER]

Damn insurance is high on these G90s due to hybrid! My annual insurance went up $1017/year from what I was paying on ‘23 G80 M3

[DocWeatherington]

Originally Posted by G80POWER

Damn insurance is high on these G90s due to hybrid! My annual insurance went up $1017/year from what I was paying on ‘23 G80 M3

Pay to play but the good thing is in a wrecked the odds are better of just getting a new car haha.