[Dec540]

I personally don't see the point in paying for an agreed value policy when most covers include a new car replacement if your car is written off within X years.

[Aidinf]

Originally Posted by MunkyTool

I'm not familiar with agreed value insurance. Why is the agreed value of the car so high?

As far as I know, when you define an agreed value, the insurance has to pay the exact agreed value to you in case of an incident makes the car written off. This is a good deal especially if your car is heavily financed, no or low deposit paid.

If the insurance doesn't offer agreed value, it pays only the market value of the car in case of written off. Market values are usually less than agreed ones.

[holmar888]

Originally Posted by thehaloboy

Got a quote from BMW Insurance for $3440 per year for the new M3 Comp. Not concerned as much with the price as my X3 M40 is around $1900 with Suncorp, but I am more concerned with some of the limits and inclusions.

Any other insurers that people are using for the M3?

I have just got my M5C insured through Metrix Insurance - $2000 less than BMW insurance and better features. Very good agreed to value.
My M3 hasn't landed yet but I will go through them again.
Contact details if anyone is interested:
Jon Kapiteli - jon@metrixinsurance.com.au, phone - 0385606131
I don't have any other relationship with them so this is not an advertising plug!

[Sergeant Skinner]

I've had insurance quotes coming from all over the place!

GIO: $5990 - had to call them to get that number
RACV: $2900 - has been higher in the past
Shannons: $3600 - have heard they can be low but seems not

For comparison, my M340i is $1150.

I think I may have to call that broker to see what can be done. Thought living in a nice part of VIC, secure offsite garage, multi policies, no commuting, low kms, rating 1 would help but I guess not with an M3!

[holmar888]

Originally Posted by Sergeant Skinner

I've had insurance quotes coming from all over the place!

GIO: $5990 - had to call them to get that number
RACV: $2900 - has been higher in the past
Shannons: $3600 - have heard they can be low but seems not

For comparison, my M340i is $1150.

I think I may have to call that broker to see what can be done. Thought living in a nice part of VIC, secure offsite garage, multi policies, no commuting, low kms, rating 1 would help but I guess not with an M3!

The M5 was 2250 so I would hope the M3 is less than that

[Sergeant Skinner]

Originally Posted by holmar888

The M5 was 2250 so I would hope the M3 is less than that

I think the M3 is just a higher risk vehicle due to being more likely owned by hoons and also being a target for home invasion car theft

[holmar888]

Originally Posted by Sergeant Skinner

I think the M3 is just a higher risk vehicle due to being more likely owned by hoons and also being a target for home invasion car theft

hoons like us lol
You may be right

[MMnut]

if you / or your partner worked for Allianz you would have 40% off the actual cost. So around $1400.

[M Division]

Originally Posted by MMnut

if you / or your partner worked for Allianz you would have 40% off the actual cost. So around $1400.

Thats a great saving

[skyscraper_g80]

Recently received a renewal quote from Shannon's and my premium has shot up from $2.9k to $3.7k I called them and they are unwilling to budge on pricing.

After obtaining some other quotes, I'll most likely be switching over to Westpac Insurance (underwritten by Allianz), or Allianz thenselves.

[MJBO]

I got quoted $3500/yr by RACV when taking a look for the G81 I have on order. Include 24 mths new for old, glass cover and hire car.

33 year old male, no at fault claims in last five years, secure parking in Docklands.

Less than double of the cost of insuring my F82 which is worth about 1/3 the price which was interesting.

[Mamba]

I went with Allianz for my G80xc $2900 p.a which is the cheapest quote I could get for my profile (35Y M no claim history) for agreed value of $189K and 2 year new for old.

Shannon’s quoted -$7.7K
BMW - $3.9K
Commbank - $3.5K
Youi - $3.2K
Westpac - $2.95K

The rest won’t offer insurance for this car.

[GregM4]

Originally Posted by Mamba

I went with Allianz for my G80xc $2900 p.a which is the cheapest quote I could get for my profile (35Y M no claim history) for agreed value of $189K and 2 year new for old.

Shannon’s quoted -$7.7K
BMW - $3.9K
Commbank - $3.5K
Youi - $3.2K
Westpac - $2.95K

The rest won’t offer insurance for this car.

I have agreed value at $120k for $2800 with Shannon's.

[Bris64]

Only $120k?

[GregM4]

Originally Posted by Bris64

Only $120k?

Fair value you think? Many options.

[Bris64]

Originally Posted by GregM4

Fair value you think? Many options

I may not be interpreting things correctly, but I thought your M4 was new March last year, and had an agreed value of $206k at that time. So $120k didn’t sound right - would probably be $220 to replace now.
Interesed to learn more about agreed value cover as I’ve not had it previously, but plan to look at it for my M3 once my new for old cover period ends. So wondwring what is a reasonable agreed value currently for a standard M3/M4 Xdrive (excluding options) at say 12 and 24 months?.

[GregM4]

Originally Posted by Bris64

I may not be interpreting things correctly, but I thought your M4 was new March last year, and had an agreed value of $206k at that time. So $120k didn’t sound right - would probably be $220 to replace now.
Interesed to learn more about agreed value cover as I’ve not had it previously, but plan to look at it for my M3 once my new for old cover period ends. So wondwring what is a reasonable agreed value currently for a standard M3/M4 Xdrive (excluding options) at say 12 and 24 months?.

Sorry. I meant $220k. Should of checked that.

New prices continue to rise.

[Lotus07]

Originally Posted by HawaiiG80Green

Crazy high. Mine is $583 per year

For interest sake what is included in your policy and is there an applied excess? My policy includes free windscreen, tow to repairer etc etc

[MarkyB656]

I just got a quote from Shannons, M4 Comp G82, $215k value, 52yo driver, Sydney Locked garage --> $3900 with $2100 excess !!

[Sierra055]

Bit of a thread bump, but I found this thread useful looking for insurance.
I use a broker for my company vehicles and he was getting quotes back at between $3700 and $5k on a 2023 xdrive sedan. Shannons, who I have 3 other cars with were just under $4k. This is for a 44yo in SE Melbourne with no claim history and no speeding fines.
Surprisingly Allianz were cheapest at $2352 with a $2150 excess including windscreen cover.

[MadBimmeRad]

Try insuring a CSL

$8400 FOR 1000KM A YEAR

[Sierra055]

Far out, that's just insane. Would love to know what it is in their algorithm generates that kind of premium