11-17-2022, 04:42 PM | #1 |
New Member
7
Rep 22
Posts |
Insurance rates
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?
|
11-17-2022, 04:55 PM | #2 |
Lieutenant
769
Rep 504
Posts |
Waaaay too many variables (age, area, coverage, multiple car, home).
Having said that, I pay $1700/yr for my 2017 Corvette and 2023 M240i.
__________________
2017 Chevrolet Corvette
2023 BMW M240i xDrive |
11-17-2022, 05:01 PM | #3 |
Lieutenant Colonel
1821
Rep 1,961
Posts |
I pay $2,100 per year for my 22 M240 and a 13 BRZ, both with full coverage. Live in NJ
Way too many variables at play. Insurance score, claim history, violation history, age, gender, location, coverage limits, deductibles |
Appreciate
0
|
11-17-2022, 05:03 PM | #4 |
New Member
7
Rep 22
Posts |
|
Appreciate
0
|
11-17-2022, 05:10 PM | #5 |
Captain
844
Rep 748
Posts |
I pay $1,250 a year, full coverage, for my 23 M240i. I live in Naperville so the rates are very low in my zip code. I would be paying over $1,500 if I lived a few miles over in Chicago
|
Appreciate
0
|
11-18-2022, 06:14 AM | #7 |
Private
149
Rep 97
Posts |
I live in downtown Chicago. I’m not looking forward to what my rates are going to be.
|
Appreciate
0
|
11-18-2022, 08:04 AM | #9 | |
Lieutenant Colonel
1821
Rep 1,961
Posts |
Quote:
Never hurts to shop around, though |
|
Appreciate
1
OriginalFake570.50 |
11-18-2022, 09:44 AM | #10 |
First Lieutenant
393
Rep 320
Posts |
|
11-18-2022, 10:30 AM | #11 |
New Member
23
Rep 16
Posts |
|
Appreciate
0
|
11-18-2022, 03:11 PM | #15 | |
First Lieutenant
393
Rep 320
Posts |
Quote:
Also, using credit scores to determine insurance rates has always seemed odd to me. Apparently if you're not responsible with finances, that also means you're a bad driver and should be charged more. |
|
Appreciate
0
|
11-18-2022, 03:37 PM | #16 | |
Lieutenant
355
Rep 433
Posts |
Quote:
__________________
M240i x-drive (Thundernight, 19" 893Ms, Cognac, Pro Pack, Adaptive, Sunroof)
|
|
Appreciate
0
|
11-18-2022, 05:39 PM | #17 | |
Lieutenant Colonel
1821
Rep 1,961
Posts |
Quote:
Insurance companies don't just randomly make up these attributes, it's all based on analyzing the risk and making the risk pay the correct premium based on forecasting potential future claims. They are always looking for new attributes to more accurately price insurance. Those who they don't expect to cause claims will pay less premium. I work in the personal insurance industry (auto/home/umbrella). Last edited by MPR; 11-18-2022 at 06:07 PM.. |
|
11-18-2022, 06:35 PM | #19 | |
First Lieutenant
393
Rep 320
Posts |
Quote:
|
|
Appreciate
1
Accentu8705.00 |
11-18-2022, 06:37 PM | #20 |
First Lieutenant
251
Rep 355
Posts |
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).
|
Appreciate
0
|
11-18-2022, 07:05 PM | #21 | |
Lieutenant Colonel
1821
Rep 1,961
Posts |
Quote:
If they found that those named Kevin consistently have a higher frequency of accidents, then there would be a "named Kevin" surcharge. |
|
11-18-2022, 09:27 PM | #22 |
Second Lieutenant
102
Rep 228
Posts |
It comes down to risk and repair costs. Some parts are intrinsically expensive, and there are everyday parts BMW marks up a lot. For instance, BMW uses aluminum for body panels.
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|