[Gracie123]

I just switched out my 2020 Volve XC90 inscription, to my new 40i, and it increased my 6 month premium by an additional $875 ( $1700 a year more) why? I expected maybe couple hundred, but $875? It's this typical?

[BMW5and7]

Originally Posted by Gracie123

I just switched out my 2020 Volve XC90 inscription, to my new 40i, and it increased my 6 month premium by an additional $875 ( $1700 a year more) why? I expected maybe couple hundred, but $875? It's this typical?

You probably need to shop around for a new insurance. I am with StateFarm with almost as premium as the policy can get, and my 6-month premium is about $550 or slightly less (around that number). I do get a discount of $100-150 for using the “drive safe and save” hardware.

[Debbill]

Adding mine as a quote, not verified, car is still on a transport...

it was $875/6 months. Not a replacement, just an add. USAA carrier; domiciled in Texas though So not a direct correlation.

[Orient330iNYC]

not included the mechanical break down insurance (add on for extended warranty which i didnt have on my X3)
my 6 month premium went up by $186
not terrible considering i went from an X3 to an X7

[streborx]

Originally Posted by Gracie123

I just switched out my 2020 Volve XC90 inscription, to my new 40i, and it increased my 6 month premium by an additional $875 ( $1700 a year more) why? I expected maybe couple hundred, but $875? It's this typical?

Call them back, tell them you sold the 40i and bought a 2020 Volvo XC90, and they'll raise your rate another $1700. Insurance companies are crooks - they'll use any reason to jack up your rates.

[supdes]

Originally Posted by Gracie123

I just switched out my 2020 Volve XC90 inscription, to my new 40i, and it increased my 6 month premium by an additional $875 ( $1700 a year more) why? I expected maybe couple hundred, but $875? It's this typical?

Def shop around. I got quoted $600/ 6 months premium for my X7 m60i with a negligible deductible.

[SkiMike]

Originally Posted by Gracie123

I just switched out my 2020 Volve XC90 inscription, to my new 40i, and it increased my 6 month premium by an additional $875 ( $1700 a year more) why? I expected maybe couple hundred, but $875? It's this typical?

I'd shop around for sure, but I'd also verify that your agent is quoting identical coverages. For comparison, I'm dropping nearly the same car '22 XC90 Inscription to add a 40i in Wash, DC suburbs (a driving Armageddon). My increase with exact same deductibles and coverages will be about $127/12% more for a 6 mo. policy w/USAA, but the covered vehicle is 30% (42% with options) more expensive than the car I'm dropping. Assuming no big changes in your credit score, driving record, etc… It might be that in your area BMW X7s (or BMWs in general) are more apt to be stolen. Your insurance company should be able to provide a better explanation as to which factor(s) are driving the premium increase. Hope this helps.

[Brigitte]

I think you should shop around for a reasonable premium. What's the name of your insurance company?

[Bigrahizzle]

Originally Posted by BMW5and7

You probably need to shop around for a new insurance. I am with StateFarm with almost as premium as the policy can get, and my 6-month premium is about $550 or slightly less (around that number). I do get a discount of $100-150 for using the "drive safe and save" hardware.

Same here, they have the lowest

[Gracie123]

Originally Posted by Brigitte

I think you should shop around for a reasonable premium. What's the name of your insurance company?

I'm going to call them again tomorrow. We've used this company for the past 4 years ( Farmers) when we moved from Florida to TN. Saving a couple hundred from our Fl company ( progressive) . Something seems off, and I most definitely will be getting a few other quotes!

[Brigitte]

Originally Posted by Gracie123

I'm going to call them again tomorrow. We've used this company for the past 4 years ( Farmers) when we moved from Florida to TN. Saving a couple hundred from our Fl company ( progressive) . Something seems off, and I most definitely will be getting a few other quotes!

Good idea...and good luck!

Please keep us posted as I will eventually look for a different insurance company.

[BMW5and7]

Originally Posted by Gracie123

I'm going to call them again tomorrow. We've used this company for the past 4 years ( Farmers) when we moved from Florida to TN. Saving a couple hundred from our Fl company ( progressive) . Something seems off, and I most definitely will be getting a few other quotes!

Yes, working directly with your agent can help if there is something wrong the overwriting has done. I remember once getting my premium to increase by almost 50%. We kept checking and finally found an additional "0" next to the "estimated miles to be driven next year" in the underwriting documents. The underwriters accidently wrote 80,000 instead of my typical 8,000 miles/year, which cases a sudden increase in my renewal. Things could happen. Ask them to check all the numbers, and to see if there are any discounts that can be applied. For my $550 per 6 months premium, my insurance package claims about $700 of discounts from multiple points "aka, multiple accounts, loyal client, accident free history, drive safe and save, advanced safe vehicle, etc etc...". See if there are any discounts that are missing which can be applied.

[Gracie123]

Originally Posted by Brigitte

I think you should shop around for a reasonable premium. What's the name of your insurance company?

I'm going to call them again tomorrow. We've used this company for the past 4 years ( Farmers) when we moved from Florida to TN. Saving a couple hundred from our Fl company ( progressive) . Something seems off, and I most definitely will be getting a few other quotes!

[coolerbythelake]

I'm an insurance agent and can opine on this for you. I see you're in Florida which is an insurance hot mess (both literally and figuratively LOL). I don't know what base rates look like in Florida but have a few thoughts.

It does strike me as a bit odd that it would go up that much but Florida tends to be an expensive state for insurance. There's a lot that goes into rate making but for starters, it's a higher MSRP vehicle. Your insurance company will look at the base MSRP of a 2020 XC90 Inscription. As it ages, there's a depreciation factor their actuaries apply to your vehicle. $58,000 will become $48k, $36k, etc. in their system as your vehicle ages. Replacing that with a new vehicle with a base MSRP of near $80k may be a jump in value of almost $50k to your insurance company. I'm used to Wisconsin and Illinois rates but that could amount to $100 - $200+ around here (for 6 months) which is significant. If your renewal declarations page itemizes the costs for each line of coverage, I highly suspect your 6 month cost for comprehensive (sometimes called other than collision depending on the company) and collision coverage went up quite bit and this would tell me it's MSRP-related.

It might not be a bad idea to ask your agent if your VIN was fully decodable in their system. They probably run their VINs through NHTSA or your state's system and being that it's a refreshed model with a brand new model year, sometimes things like basic safety features don't automatically populate. I just got my VIN yesterday and when I ran rates on it, I had to manually check boxes saying it had daytime running lights, anti-lock brakes, and front/side airbags; normally basic things like these are tied to a VIN but early on in a "new" model's production cycle these things don't always automatically populate.

A few other things/questions that come to mind:

Are your annual mileage and driving habits current? If you don't drive much, make sure they know. Likewise, if you work remote, are retired, a stay-at-home parent, etc., make sure you're pleasure rated as such.

Did all of your discounts convey appropriately?

Was your credit re-run by your insurance company as a part of the transaction?

Were all of the levels of coverage, deductibles, and options kept the same? Things like gap insurance, new car replacement, OEM parts endorsements, were any of these added? (Do you need any of these or rental reimbursement coverage?)

If there are multiple drivers in your household, was the same person rated on the XC90 and then X7? Was someone's motor vehicle report re-run as a part of the transaction and a recent accident, speeding ticket, moving violation, etc. added?

If you had anything like paperless, autopay, or driving monitoring discounts before, were these brought over?

You're also now being lumped into a pool of BMW drivers and their loss histories versus Volvo. BMW drivers cause more losses in literally any situation when we're being compared to the typical Volvo driver (LOL). It could be that their risk appetite for this type of BMW in your area is lower and it costs you more with them. But your agent should be able to give you an answer. If they can't you need to get a new agent. Or a new insurance company.

Let us know what you find out!

[Romanzz]

Originally Posted by Gracie123

I just switched out my 2020 Volve XC90 inscription, to my new 40i, and it increased my 6 month premium by an additional $875 ( $1700 a year more) why? I expected maybe couple hundred, but $875? It's this typical?

Check out Geico. Was cheaper for me than my Allstate premium when I switched from Audi A8L to my X7 M50i. They also offer the "mechanical breakdown insurance" which depending on how long you plan on keeping the car is essentially a dirt cheap extended warranty with a ton of value: 7yr/100k of non wear/tear coverage with a small per claim deductible, and repairs can be done at any BMW service center. You won't use it until factory warranty expires, but for $150 a year it's worth riding out the first 3 years in my opinion, to have the guaranteed coverage for the remaining 4 years.

[blutob2]

Yeah I had Geico too and it was good insurance, and reasonable. Much cheaper than USAA. My issue was my teenage son had an accident and Geico really increased the rates so I changed to Progressive. But I still pay $1041/6 months for the X7. 2 teenage kids and 1 with the accident almost 2 years ago hurts.

[U235]

I went from a 2016 XC90 to the 23 X7 M60. Allstate here, and I was shocked by the premiums as well. Perfect records, multi-line, etc.

It more than doubled. For comparison, my equally brand new at only moderately cheaper ($75k) Volvo V60 Polestar costs ~$800 while the X7 is almost $1,400. My XC90 was like $600, but my XC90 was a 2016 and worth $30-35k, less than a third of the BMW.

I will add that insurance companies appear to like Volvos. It seems the brand’s reputation with safety is acknowledged by the industry. When I sold an equally valued MDX (bought new, hated it, sold immediately for XC90), my premiums went down notably. Similarly, when I sold my Tesla Model 3 for the V60, the V60 being nearly double the value, my premiums went down notably.

I’m currently shopping options and have seen that regardless my V60 will cost about half as much the insure.

[coolerbythelake]

I'm obviously biased here but I really don't like Geico, Progressive, and similar call center style insurance companies. I also don't like it when anyone can just visit a website and write their own policy; this actually horrifies me. The overwhelming plurality don't know what their coverages are, how they work, and don't know what they need. I think everyone should find a really good insurance agent that they like. I say that not because I like having a job but I have a skill set, education, and aptitude far exceeding anyone you'll get on the phone when you call Flo or the gecko. You go to an accountant for your taxes, an attorney for legal advice, and a financial planner to help plan for your future. For most, your home and your vehicles will be the largest tangible assets you have and your largest risks. Find a good guy or gal who knows what they're doing and put them in charge of those.

So many people focus solely on price and this baffles me. You have to be able to afford your insurance and certainly don't want to overpay for it, I get that. But when your house has just burned down, you're shaken to the core, and you're standing there with nothing but the clothes on your back, do you REALLY want to deal with a call center or someone who knows you and your family?

My advice, find a good agent or broker that you're comfortable working with and stick with them. Pricing should be similar to anything Geico or Progressive will be offering you. At least sit down with one if nothing else. I tell people all the time and I sincerely mean it: if at the end of the day someone gets their insurance 101 lesson from me, knows what they need to have because I told them, and still goes somewhere else I consider my job well done for the day. I care more so that they're adequately insured and know how their policies work than if they're insured with me.

If not crystal clear at this point, but if anyone has any questions about their policies or needs another opinion on what they're being told just shoot me a message.

[blutob2]

Originally Posted by coolerbythelake

I'm obviously biased here but I really don't like Geico, Progressive, and similar call center style insurance companies. I also don't like it when anyone can just visit a website and write their own policy; this actually horrifies me. The overwhelming plurality don't know what their coverages are, how they work, and don't know what they need. I think everyone should find a really good insurance agent that they like. I say that not because I like having a job but I have a skill set, education, and aptitude far exceeding anyone you'll get on the phone when you call Flo or the gecko. You go to an accountant for your taxes, an attorney for legal advice, and a financial planner to help plan for your future. For most, your home and your vehicles will be the largest tangible assets you have and your largest risks. Find a good guy or gal who knows what they're doing and put them in charge of those.

So many people focus solely on price and this baffles me. You have to be able to afford your insurance and certainly don't want to overpay for it, I get that. But when your house has just burned down, you're shaken to the core, and you're standing there with nothing but the clothes on your back, do you REALLY want to deal with a call center or someone who knows you and your family?

My advice, find a good agent or broker that you're comfortable working with and stick with them. Pricing should be similar to anything Geico or Progressive will be offering you. At least sit down with one if nothing else. I tell people all the time and I sincerely mean it: if at the end of the day someone gets their insurance 101 lesson from me, knows what they need to have because I told them, and still goes somewhere else I consider my job well done for the day. I care more so that they're adequately insured and know how their policies work than if they're insured with me.

If not crystal clear at this point, but if anyone has any questions about their policies or needs another opinion on what they're being told just shoot me a message.

I don't necessarily disagree and I use an agent for my Home policy but never could get a decent auto policy thru one. They have been sky high in comparison to Progressive and Geico. And even when my son had his accident, Geico was super easy to work with.

Sure, people need to be smart and understand their policy and what they're buying. But heck, it's no difference than being able to read their user manual for their own car. How many questions do we see on here or other forums that could be answered with 30 seconds of their own reading? Reading comprehension is key and some self education regarding insurance policies is no different.

But like I said, I have no issue using a local agent, as long as they don't charge me more through a commission.

[bimmerdiesel]

Check your old policy, they might have forgotten to charge you for Volvo LOL

[supdes]

Originally Posted by coolerbythelake

I'm an insurance agent and can opine on this for you. I see you're in Florida which is an insurance hot mess (both literally and figuratively LOL). I don't know what base rates look like in Florida but have a few thoughts.

It does strike me as a bit odd that it would go up that much but Florida tends to be an expensive state for insurance. There's a lot that goes into rate making but for starters, it's a higher MSRP vehicle. Your insurance company will look at the base MSRP of a 2020 XC90 Inscription. As it ages, there's a depreciation factor their actuaries apply to your vehicle. $58,000 will become $48k, $36k, etc. in their system as your vehicle ages. Replacing that with a new vehicle with a base MSRP of near $80k may be a jump in value of almost $50k to your insurance company. I'm used to Wisconsin and Illinois rates but that could amount to $100 - $200+ around here (for 6 months) which is significant. If your renewal declarations page itemizes the costs for each line of coverage, I highly suspect your 6 month cost for comprehensive (sometimes called other than collision depending on the company) and collision coverage went up quite bit and this would tell me it's MSRP-related.

It might not be a bad idea to ask your agent if your VIN was fully decodable in their system. They probably run their VINs through NHTSA or your state's system and being that it's a refreshed model with a brand new model year, sometimes things like basic safety features don't automatically populate. I just got my VIN yesterday and when I ran rates on it, I had to manually check boxes saying it had daytime running lights, anti-lock brakes, and front/side airbags; normally basic things like these are tied to a VIN but early on in a "new" model's production cycle these things don't always automatically populate.

A few other things/questions that come to mind:

Are your annual mileage and driving habits current? If you don't drive much, make sure they know. Likewise, if you work remote, are retired, a stay-at-home parent, etc., make sure you're pleasure rated as such.

Did all of your discounts convey appropriately?

Was your credit re-run by your insurance company as a part of the transaction?

Were all of the levels of coverage, deductibles, and options kept the same? Things like gap insurance, new car replacement, OEM parts endorsements, were any of these added? (Do you need any of these or rental reimbursement coverage?)

If there are multiple drivers in your household, was the same person rated on the XC90 and then X7? Was someone's motor vehicle report re-run as a part of the transaction and a recent accident, speeding ticket, moving violation, etc. added?

If you had anything like paperless, autopay, or driving monitoring discounts before, were these brought over?

You're also now being lumped into a pool of BMW drivers and their loss histories versus Volvo. BMW drivers cause more losses in literally any situation when we're being compared to the typical Volvo driver (LOL). It could be that their risk appetite for this type of BMW in your area is lower and it costs you more with them. But your agent should be able to give you an answer. If they can't you need to get a new agent. Or a new insurance company.

Let us know what you find out!

Great info. Thanks for sharing. I ll actually call my agent and ask about a few of your pointers.
Since my m60i is just of the press they could not find the car by VIN, only go by MSRP and I am sure that the new lady in the office did not manually apply any safety features etc.

[U235]

Originally Posted by coolerbythelake

I'm obviously biased here but I really don't like Geico, Progressive, and similar call center style insurance companies. I also don't like it when anyone can just visit a website and write their own policy; this actually horrifies me. The overwhelming plurality don't know what their coverages are, how they work, and don't know what they need. I think everyone should find a really good insurance agent that they like. I say that not because I like having a job but I have a skill set, education, and aptitude far exceeding anyone you'll get on the phone when you call Flo or the gecko. You go to an accountant for your taxes, an attorney for legal advice, and a financial planner to help plan for your future. For most, your home and your vehicles will be the largest tangible assets you have and your largest risks. Find a good guy or gal who knows what they're doing and put them in charge of those.

So many people focus solely on price and this baffles me. You have to be able to afford your insurance and certainly don't want to overpay for it, I get that. But when your house has just burned down, you're shaken to the core, and you're standing there with nothing but the clothes on your back, do you REALLY want to deal with a call center or someone who knows you and your family?

My advice, find a good agent or broker that you're comfortable working with and stick with them. Pricing should be similar to anything Geico or Progressive will be offering you. At least sit down with one if nothing else. I tell people all the time and I sincerely mean it: if at the end of the day someone gets their insurance 101 lesson from me, knows what they need to have because I told them, and still goes somewhere else I consider my job well done for the day. I care more so that they're adequately insured and know how their policies work than if they're insured with me.

If not crystal clear at this point, but if anyone has any questions about their policies or needs another opinion on what they're being told just shoot me a message.

At the risk of going down a rabbit hole, and with all due respect to your profession, I long have been a fan of agent based insurance carriers for the reasons you state. However, I'm changing tunes for a few reasons. To clarify, in 25+ years, I've had only State Farm and Allstate, switching one time about 10 years ago due to price and some issues. I'm going to particularly pick on your statement about agents when things go bad (shaken to the core, your house just burned down). Here are some examples:

1. I was a State Farm customer for 15+ years, never had an at fault claim or home claim. I had in my entire 15+ year one hail claim that resulted in $1,000 in PDR. I also had a string of bad luck 6 years later where I had three windshield repairs done ($50 a pop at the car wash, just tiny fill ins) over two cars in three years. I had annual reviews of my policy with my agent, but it always felt she was trying to sell me other products, namely life insurance. Working for large companies at the time, I had more than enough coverage and State Farm wasn't even close to competitive. Every time we met and I pushed about ever increasing rates, she assured me she as there for me, and that if something bad were to happen, she would go to bat for me and my family. She used fear-based selling to thwart me away from every quote I compared with here. "Travelers will leave you stranded when your house burns down and your family is at their darkest moments, but I'll be this angelic savior who will go to great lengths to ensure your family is in the best hands.." (That was a bit hyperbole ridden, but that was the gist, and similar to your gist).

What caused me to move to All State was that prices kept increasing, but ultimately what caused me to shop around that final time was that I received a postal mail from State Farm saying they reviewed my claim history and saw I had three claims in two years and that I was at risk of seeing rates climb due to extremely high claims for my demographic. I was blown away by the directness and tone of the letter. It made me feel like I was a bad customer, a bad human and that I didn't deserve State Farm. I immediately called my agent and was like, "WTF is this? $150 in claims after spending probably close to 6 figures in premiums". She said she had no idea about it and "... corporate just does their own things and decides to do their own thing." I immediately pushed back and called her out on all this, "I thought you had my back, you'd be my first line of defense and advocation..." I went on to add, "If State Farm really cares about their agent business, State Farm should've contacted you (agent) and we should've had this conversation and not got this heavy handed letter." She apologized and said she would talk to State Farm and get more info.

I immediately shopped around and found an Allstate agent I liked and he had far better pricing/coverage. I immediately switched. The conversation with my 15+ year agent was terse and came down to that letter and my lack of trust that if anything were to happen there'd be any value in the agent. It's like buying a brand new BMW, having it break and thinking your sales person who sold you the car a year ago is going to provide any legal assistance or help outside of giving phone numbers and playing middle-man.

2. In Feb 2021, Austin, TX (and TX in general) dealt with a severe ice storm, a crippling week long affair. The power grid failed and many were forced to leave their homes to survive (homes went to below freezing temperatures with no ways to warm them). My neighbor and friend had to leave their house (as did we). Fortunately, I closed my water line and flushed, but my neighbor did not. He came back to a flooded house due to his hot water heater bursting in the attic and leaking everywhere. All walls, all hardwood, baseboards, cabinets were ruined. He filed a claim with State Farm as they couldn't live in the home (a very nice multi-7 figure home that had just been remodeled in 2020). State Farm adjusters came out and said they'd replace some hardwood, only the bottom part of the drywall and refinish some cabinets, they came with $40,000 as their estimate. My neighbor got a private estimate which came to over $250,000. His State Farm agent went MIA and only said he had no authority in what the appraiser offers as that's "his profession", etc. My neighbor hired an attorney, via legal intervention he got his money and it took 6 months to repair the home. He's since left the carrier.

3. I'm now shopping All State because I've found considerably better coverage (Open Perils vs Named, 30% higher replacement value, more liability on cars, higher water damage limits, etc.). I'm looking to save over 20% of my total cost with superior coverage and terms moving from Allstate to Encompass (ironically an Allstate company). Ironically, I'm working with someone who was an Allstate agent for 20 years and sold his practice to focus on individual consultation. He found many issues with my current coverage with Allstate that should've been caught by my current agent, including but not limited to:

- My golf cart liability rates aren't high enough to meet my Umbrella requirements ($1 premium increase fixes that). Knowing that I didn't have effective personal injury/bodily harm coverage on the cart that I thought I did really irked me.

- My personal umbrella has been charging me $60 / year surcharge for a renter's policy I haven't had in 5 years ago, the policy references an All State home owner's policy that I canceled with All State 5 years ago when I sold that rental home. My agent failed to remove the surcharge from my Umbrella policy, so I'm now $250 in the hole. I will credit my agent as he is assisting with the refund process but it's been taking MONTHS.

I have a yearly policy review, and like State Farm, that review immediately switches to selling me Life Insurance products that aren't competitive. How was this Umbrella & Golf Cart thing missed for 5 years?

4. I had a claim in 2017 on my wife's Volvo when a shopping cart hit and run our rear bumper. I opted to open a claim, but Allstate pushed back on the vendor I chose and wanted to use their's stating I didn't need a new rear bumper cover and it could be repaired with bondo and paint. My shop said it would never be perfectly repaired and declined to repair the car without a new bumper cover. I had to fight with the adjuster, I had to go down to the body shop twice to take pictures using the All State app. While my agent was friendly and wanted to help, he had no weight in this, and I shouldered the burden of advocating for myself and going back and forth to fight my case. Ultimately, after many pictures, All State agreed and paid for the bumper shell which was only like $400. The total claim was like $1,000.

So, while it is nice to email/call an agent who can run things like refunds and cancellations down. Additionally, when I get a new car and/or sell one, my agents have made that so easy, one email with VINs and dates, and that's it. Outside that, I question their value in really finding you the best options as they're limited to only what they can sell, and I really question if they have any weight when your house burns down and you're "shaken". As a result, I've found a knowledgeable broker that explains every line with me, and while I know he can't do much but advise during a claim, I really never got much from my agents. So I think I'm going to roll the dice, get better "legal coverage" and save some bucks.