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      06-14-2021, 08:18 PM   #1
thehaloboy
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Insurance

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?
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      06-14-2021, 08:27 PM   #2
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Quote:
Originally Posted by thehaloboy View Post
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?
Geico is about $1,200 for me
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      06-14-2021, 08:56 PM   #3
JustoM8
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Quote:
Originally Posted by thehaloboy View Post
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 used Dawes for my M2 and have got a quote for me M3 for them for about $2700 off the top of my head. They only deal with brokers but are all tied up with Suncorp/Allianz. I think when I did an online quote for Allianz it was about $2300. I might hit up BMW and see what they offer.
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      06-14-2021, 10:53 PM   #4
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Quote:
Originally Posted by JustoM8 View Post
I used Dawes for my M2 and have got a quote for me M3 for them for about $2700 off the top of my head. They only deal with brokers but are all tied up with Suncorp/Allianz. I think when I did an online quote for Allianz it was about $2300. I might hit up BMW and see what they offer.
I just did a quick quote for the M3 Comp with RACQ and got a price of just under $1400, however that includes various discounts since I have road side assistance and other insurances with them. I also ticked the windscreen option, which I needed with my current M3 F80.
I am hoping that the M3 Xdrive wont be much more.
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      06-15-2021, 12:15 AM   #5
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Wow $3400 a year is insane. I'm at $1K/year for the G80. Currently with Safeco and have a 2nd vehicle, home, and umbrella policies bundled in. The G80 was a $420 annual increase over my previous M2.

I learned 20 years ago to use an insurance broker, and probably change carriers every 2 years or so based on him finding me the best deals.

EDIT: I am a giant bonehead and didn't notice the Brisbane in OP's location

Last edited by jonahk; 06-15-2021 at 06:24 PM..
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      06-15-2021, 04:28 AM   #6
thehaloboy
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Suncorp Quoted almost $7000... I am 44, have had M cars previously, no insurance claims, garaged etc... Goodness, what the hell are they on.

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      06-15-2021, 06:24 AM   #7
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Crazy high. Mine is $583 per year
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      06-15-2021, 09:34 AM   #8
thehaloboy
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Quote:
Originally Posted by bris_m3 View Post
I just did a quick quote for the M3 Comp with RACQ and got a price of just under $1400, however that includes various discounts since I have road side assistance and other insurances with them. I also ticked the windscreen option, which I needed with my current M3 F80.
I am hoping that the M3 Xdrive wont be much more.
I called RACQ and did it online, and the best was $2600 with a $1379 excess plus a $400 sports car excess.

Rating 1 for life, 44 year old male, garaged, financed, windscreen and hire car, no claims etc.

How the heck did you get it $1000 cheaper? Wowser!
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      06-15-2021, 09:35 AM   #9
thehaloboy
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Best so far is Youi at $2400 with a $2k excess, but BMW at $3400 and $1050 excess is pretty good with windscreen and hire car.
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      06-15-2021, 01:57 PM   #10
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Originally Posted by HawaiiG80Green View Post
Crazy high. Mine is $583 per year
Yep. But you are in the USA, paying in US dollars, and your car probably cost half the price of ours, so hardly relevant.


NRMA, metro Sydney, $1850, $2k excess, good driver rating, over 50, and have some other policies with them.

My experience with these cars is the insurance starts out cheaply, but goes up over time. My wifes F82 was $1200 in 2014 when new, currently $2600 insured for around 50% of original agreed value back in 2014.
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      06-15-2021, 03:49 PM   #11
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Quote:
Originally Posted by thehaloboy View Post
I called RACQ and did it online, and the best was $2600 with a $1379 excess plus a $400 sports car excess.

Rating 1 for life, 44 year old male, garaged, financed, windscreen and hire car, no claims etc.

How the heck did you get it $1000 cheaper? Wowser!
I guess it comes down to each individual and their circumstances. When I did my online quote with RACQ I had these options
  • 54 Years old, male
  • RACQ Silver member with roadside assist (get free car hire)
  • Multil existing policies - Home & Contents, my M3, wifes BMW, plus both CTP car policies
  • No finance, private, kept in garage
  • Licence held for more than 10 years
  • No claims in last 3 years, rating 1 for than 10 years
  • Zero licence suspensions
  • No driver under 25
  • Agreed value
  • Windscreen option

I have had my F80 M3 insured with RACQ for the past 5 years, with the last premium being just under $1300. I know when I originally looked at other insurance companies when I bought the F80, most were $1K more expensive than RACQ.
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      06-15-2021, 04:36 PM   #12
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Quote:
Originally Posted by thehaloboy View Post
Suncorp Quoted almost $7000... I am 44, have had M cars previously, no insurance claims, garaged etc... Goodness, what the hell are they on.

Yikes!!

BMW came back at $3400 with no options like windscreen etc.

With my existing I get no excess on Windscreen (1 per year) choice of repairer, hire car etc, all the stuff that you would have to pay extra for at $2700. Might just stick with them. I am 38, garaged, no claims, owned "performance" cars for 7+ years.
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      06-15-2021, 07:07 PM   #13
thehaloboy
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BMW is one of the few who offer new for old up to 3 years. RACQ, CommInsurance Allianz etc are all 24 months only. Have to weigh up if it is worth the money.
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      06-15-2021, 07:30 PM   #14
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Quote:
Originally Posted by thehaloboy View Post
BMW is one of the few who offer new for old up to 3 years. RACQ, CommInsurance Allianz etc are all 24 months only. Have to weigh up if it is worth the money.
Yep, it's definitely worth weighing up. I get 36 months new for old which like you said is pretty rare. Happy to show you the PDS for the company I go through if you want to check it out. Might be an option?
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      06-15-2021, 07:32 PM   #15
thehaloboy
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Quote:
Originally Posted by JustoM8 View Post
Yep, it's definitely worth weighing up. I get 36 months new for old which like you said is pretty rare. Happy to show you the PDS for the company I go through if you want to check it out. Might be an option?
I will DM you. Thanks.
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      06-15-2021, 11:46 PM   #16
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Quote

Quote:
Originally Posted by thehaloboy View Post
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 was quote by Shannons $2,364.53 for an agreed value of $206,000.00 on a new G82. I do not live in Sydney though.
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      06-16-2021, 02:00 AM   #17
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I'm at about 3,300 USD per year for Germany at the moment. Once I get back to the US, it's going to drop dramatically for where I'm going to be living.
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      06-26-2021, 08:18 PM   #18
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Before you decide call up your preferred BMW repairer and see who they will deal with - many good ones wont touch the Suncorp brands (GIO / AMI, Shannon's etc.) because they wont pay them enough for the repairs.
Suncorp also try to push you through their own repair centers that they operate - choice of repairer is a joke - they let you choose a repairer only if they aren't more expensive than using their own facility to repair.

As boring as it is you need to read the PDS, the price is only part of the deal.

I use QBE, but Allianz / BMW / RACV also looks good.
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      06-27-2021, 01:19 AM   #19
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pmunger, good point here as well. Not many read the fine print.

I will get a quote from BMW as well, plus RACQ.
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      06-27-2021, 01:53 AM   #20
thehaloboy
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BMW ended up quoting me $303 per month, new for old for 3 years (lease is 3 years, so don't care about more than that. $1150 excess, and included tyre, windscreen and hire car options. No named drivers, so that anyone over 30 can drive it.

I took it just so I could drive out on Friday, but that was a 10% increase than what I was quote two weeks prior. They apologised and said Allianz had increased it. I ended up getting free servicing for 3 years from the dealer, which worked out better anyway.

I now have 21 days to look around and change if I want.
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      08-17-2021, 10:22 PM   #21
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FYI just got off the phone with YOUI. They are unwilling to insure my XDrive because the value of the vehicle is too high:
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      08-19-2021, 12:33 AM   #22
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I got a quote for M4 Competition from Allianz for $1750 - excess $2500
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