Insurance deductible

[MomoM3]

I’m usually a fan of low collision deductibles but I’m questioning my usual habit.

Follow my logic here – I’m at a $500 collision deductible now, however, if I raise my collision deductible to $1000, I’ll be saving $422/year. So, even if (god forbid) I have a single claim within the year – I’m still saving the $422/year but paying a $1000 deductible.

Comprehensive deductible remains at $250 in both scenarios.

Stay with the lower deductible or raise deductible to save $422/year? Never filed a collision claim on my last policy.


It’s pretty much a wash assuming one claim, just wanted your thoughts…

[Sedan_Clan]

Raise the deductible and save the money. I always maintain the 1k deductible on my collision policy, but keep my comprehensive deductible lower.

[CUD]

Guys, I am in the market for an M3 convertible. Any idea how much the insurance will be with a perfect driving record?

Just an estimate, would help. Ofcourse I can check with my insurance agent later, but I thought I ask you guys first. Any recommendation on insurance provider for the M3?

Keep the great posts on coming and congratulations to all of you out there that own a M3

[MomoM3]

maybe post in the regional forums? :dunno

obviously, rates vary by location, age, record, vehicle, claims history, and credit

[Sedan_Clan]

Originally Posted by CUD

Guys, I am in the market for an M3 convertible. Any idea how much the insurance will be with a perfect driving record?

Just an estimate, would help. Ofcourse I can check with my insurance agent later, but I thought I ask you guys first. Any recommendation on insurance provider for the M3?

Keep the great posts on coming and congratulations to all of you out there that own a M3

I'm with State Farm currently, and I pay about $2200 a year to cover my current BMW and my 2007 GSXR. I spoke with my State Farm agent yesterday, and my insurance would increase by $27.00 monthly (..$324.00 annually) if I opted for the '08 ///M3 that I'm currently working a deal on.

[positiveions]

Originally Posted by CUD

Guys, I am in the market for an M3 convertible. Any idea how much the insurance will be with a perfect driving record?

Just an estimate, would help. Ofcourse I can check with my insurance agent later, but I thought I ask you guys first. Any recommendation on insurance provider for the M3?

Keep the great posts on coming and congratulations to all of you out there that own a M3

go here : www.wawanesa.com
I have them for 10 years now. No problem. very legit company. Paid two claims to me.

[positiveions]

Originally Posted by Sedan_Clan

I'm with State Farm currently, and I pay about $2200 a year to cover my current BMW and my 2007 GSXR. I spoke with my State Farm agent yesterday, and my insurance would increase by $27.00 monthly (..$324.00 annually) if I opted for the '08 ///M3 that I'm currently working a deal on.

How is the deal on the new M3 going? are you in Southern California?

[kmarei]

Originally Posted by Sedan_Clan

I'm with State Farm currently, and I pay about $2200 a year to cover my current BMW and my 2007 GSXR. I spoke with my State Farm agent yesterday, and my insurance would increase by $27.00 monthly (..$324.00 annually) if I opted for the '08 ///M3 that I'm currently working a deal on.

i'm with state farm and my insurance would go from 800 annualy for my Audi A5 to 900 a year for the E92 M3
not bad when the price difference between the 2 cars is around 15K
the Audi must be very expensive to fix
or the BMW must be very cheap

[positiveions]

Originally Posted by kmarei

i'm with state farm and my insurance would go from 800 annualy for my Audi A5 to 900 a year for the E92 M3
not bad when the price difference between the 2 cars is around 15K
the Audi must be very expensive to fix
or the BMW must be very cheap

Audi's parts are expensive!

[Sedan_Clan]

Originally Posted by eatrach73

How is the deal on the new M3 going? are you in Southern California?

Yeah, I'm in So.Cal. My 2.9% financing was approved, and the car is available, but I'm awaiting confirmation from my mother about her decision to take my current car. She inquires about it every time I visit (...and she used to borrow my various E46 M3's on occasion; it's kinda funny to watch your 5 foot mom drive away in a lowered M3.), so I presented her with an opportunity to take it yesterday. If all goes well, I'll have the E90 M3 by this weekend.

FYI: The picture of my mom sitting on my GSXR this past Thanksgiving is classic. She's so little.

Originally Posted by kmarei

i'm with state farm and my insurance would go from 800 annualy for my Audi A5 to 900 a year for the E92 M3
not bad when the price difference between the 2 cars is around 15K
the Audi must be very expensive to fix
or the BMW must be very cheap

Not a bad increase at all.

[UltimateBMW]

I'm 24 (23 when I got this quote), male, perfect record, great credit. I got a quote from state farm for $133 a month. This was in conjunction with some home insurance, but I don't remember what my deductible was.

I'd say $133 for a 23 year old in a V8 M3 is an epic deal.

I've had a deductible of about $750 for the last few years. Never had anything happen. Really, with a deductible of $1000 you would only have to pay for minor paint work. I think anything more severe than that would exceed the 1k range.

[MomoM3]

$800-900 a year to insure your cars? Wow. I'm paying almost double that.

I'm >25 but <30, perfect driving record, perfect credit, single... and I still pay that much? I gotta move to the booney's....

[Radiation Joe]

Originally Posted by Sedan_Clan

Raise the deductible and save the money. I always maintain the 1k deductible on my collision policy, but keep my comprehensive deductible lower.

+1

I'm thinking of dropping the deductable on comp and increasing the collision to the max. I have control over my collision claims whereas I have no control over my comp claims. It's a function of how much risk you are willing to take.

Knock on wood, I've never made a collision claim in 32 years of driving. Problem is; maybe it's time for the odds to catch up with me. Maybe I should decrease the collision deductible?

I did make a claim in the '70s when some dolt made a left turn in front of my Fiat 850 Spider, totalling it. He claimed I was accellerating rapidly towards him and he misjudged my speed. Anyone who knows what an 850 spider is will catch the humor in that one. The car had less than 40 hp. A 90 year old woman could lean on the front of the car to keep it from moving.

[positiveions]

Oh I have a $300 deductible with wawanesa. IT is inexpensive enough that I opted to do it

[TheBry]

Originally Posted by Radiation Joe

+1

I'm thinking of dropping the deductable on comp and increasing the collision to the max. I have control over my collision claims whereas I have no control over my comp claims. It's a function of how much risk you are willing to take.

Bingo! That's exactly what I do. I have a $1000 collision deductible and a $100 Comprehensive deductible. I figure if I'm ever in a collision, what's another $1k?

[J08M3]

$1k deductible is the way to go... unless you crash your car a lot and always make claims. But if you can afford a M3 coming up with $1k if necessary for a claim shouldn't be to big of a deal.

[jamesisel]

If you keep your deductible low you will not have and accident. If you raise the deductible you will have an accident- MURPHY

[Dascamel]

Originally Posted by jamesisel

If you keep your deductable low you will not have and accident. If you raise the deductable you will have an accident- MURPHY

So sad, but so true.

[positiveions]

By the way, I pay 938 ching ching a year for two vehicles, with high limits of liability, uninsured, 300 deduct on the ZHP, rental towing with Wawanesa.

[jeremyr4]

Unless you believe in making small claims when small things come up the higher deductible will always be the way to go. You're pretty much handing your money over to the insurance companies if you go with smaller deductibles (it's all about the numbers - too long to get into but trust me and everyone else on this).

Hope this helps,
Jeremy