[LuxemburgBMV]

I thought you might appreciate this bit of info. I have a 22 M3 comp. and my wife just bought a 2023 Volvo XC 90. The M3 was 20k more in price but my auto insurance is about fifty bucks less every six months. I asked my agent and she said one reason is the M3 is considered by the insurance company to have a 10% higher safety rating. So - another great thing about the M3 - it is apparently safer than a Volvo!

[Tyga11]

How is that possible?

[FC4]

Yeah that was probably just the easiest response they could have provided to get back to browsing the internet.

[Forzanerazzurri]

Huh? The insurance company doesn't care about your safety. That's not how premiums are established. What they are really worried about is you killing someone else or crashing into something expensive and how likely you are to do that.

[jimbethesda]

Originally Posted by Forzanerazzurri

Huh? The insurance company doesn't care about your safety. That's not how premiums are established. What they are really worried about is you killing someone else or crashing into something expensive and how likely you are to do that.

This. The Volvo is heavier, more likely to cause injury to the car it hits.

[LuxemburgBMV]

I figured maybe the m is more likely to have a single passenger and be driven less. The Volvo packed with people and used every day. They said there are many factors. Interesting when I originally asked why the m was so cheap they said a good credit score makes a difference. Who knew your credit score impacted car insurance.

[bri1042]

Some of the safety rating is how often cars are at fault in accidents. The WRX is the king of at-fault and apparently costs stupid amounts to insure. I have no idea if Volvo drivers are at fault more often than M3 drivers, but perhaps that's the case.

My SO's 530e's MSRP was 6k less than my M3's. We have nearly identical credit ratings (both excellent) and neither of us have an at-fault accident on our records ever, and neither of us has any tickets on our records. He moved to the US in 2005, I've been here all my life...that's the only real difference in our records. The 530e costs 10 bucks a month more than my M3 on our joint policy bundled with our homeowner's insurance and umbrella policy.

Insurance is weird.

[static_void]

I don't know about anyone else but my old 2007 STI was about one third of the M3's cost to insure. The M3 is ridiculously expensive for some reason. I was paying $110/mo for the STI and I'm up to $340/mo for the M3. No recent tickets, accidents, anything. 800+ credit score. Insurance is through USAA.

[chicagofan00]

Originally Posted by static_void

I don't know about anyone else but my old 2007 STI was about one third of the M3's cost to insure. The M3 is ridiculously expensive for some reason. I was paying $110/mo for the STI and I'm up to $340/mo for the M3. No recent tickets, accidents, anything. 800+ credit score. Insurance is through USAA.

$340 per month?! That’s crazy!

I was mad at Geico when our recent 6 month premium came in at a little over $1,500 for my M3 and the wife’s Pilot. Guess I shouldn’t be so mad now…

[static_void]

Originally Posted by chicagofan00

$340 per month?! That’s crazy!

I was mad at Geico when our recent 6 month premium came in at a little over $1,500 for my M3 and the wife’s Pilot. Guess I shouldn’t be so mad now…

Yeah, it's pretty wild. I've been with USAA my entire driving career. Maybe age and marital status are potential factors (I'm 28, engaged but not married - yet) but otherwise I can't think of what else would cause my rate to be so high. Maybe I'll give them a call today and ask what factors affected things.

[G-Mann]

Originally Posted by static_void

Yeah, it's pretty wild. I've been with USAA my entire driving career. Maybe age and marital status are potential factors (I'm 28, engaged but not married - yet) but otherwise I can't think of what else would cause my rate to be so high. Maybe I'll give them a call today and ask what factors affected things.

Might be time to shop around. I'm paying about 1/2 a month as you and shopped mine with a broker, at the end of the day they were unable to make it worth my while. M4 was a bit more to insure than an M3, $160 more per 6mth policy which was weird for essentially the same care minus a couple doors.

[M3PGH]

safety rating is a small factor for insurance premiums
multiple other factors are at play
driving record
location
number of accidents reported on that model ie how other drivers drive
price of car has minimal effect believe it or not
I had several cars above 200 k in value and were cheaper to insure than Golf R ; EVO 10 , and Subaru STI which were less than 20 % of the value
EVO 10 was the highest

[Humdizzle]

insurance is weird. there are so many criteria that go into the cost. in addition to was m3pgh said they factor in mileage, age of people in the house (if you are grouping home and auto together and you have a 16 year old it will drive your costs up). awd, number of doors, cost to replace a bumper/hood (carbon is $$$).

fwiw i recommend everyone get a beater and put your nice cars on specialty insurance like grundy or hagerty with an agreed upon value. there are some stipulations like you being the only driver, must be garaged, can't be used for work / only leisure, and you need a beater that is commercially insured. you set the annual mileage too.

when i was 30 my 458 was 2500/year and f80 M3 was 600/year or something.

[bhmax16]

Originally Posted by static_void

Yeah, it's pretty wild. I've been with USAA my entire driving career. Maybe age and marital status are potential factors (I'm 28, engaged but not married - yet) but otherwise I can't think of what else would cause my rate to be so high. Maybe I'll give them a call today and ask what factors affected things.

I think you need to shop around. I'm 9 years older than you, but single. I'm paying $1800 a year for my M4 with Amica, and that is after they increased my collision cost by nearly 90% due to too many claims in the North Carolina area. I have a clean record and made sure they knew I was displeased they were punishing good drivers for the fault of others. Nevertheless, it's just over $2k a year for the M4 and my old 328xi combined.

[bri1042]

Originally Posted by static_void

I don't know about anyone else but my old 2007 STI was about one third of the M3's cost to insure. The M3 is ridiculously expensive for some reason. I was paying $110/mo for the STI and I'm up to $340/mo for the M3. No recent tickets, accidents, anything. 800+ credit score. Insurance is through USAA.

Eek! Too many factors to compare, of course, but that's $100 more than we pay for both of our BMWs, home insurance, and an umbrella policy total.

Age, zip code, some other factor, or whatever they're using to charge you that much...time to shop around.

[ano0oj]

Originally Posted by G-Mann

Might be time to shop around. I'm paying about 1/2 a month as you and shopped mine with a broker, at the end of the day they were unable to make it worth my while. M4 was a bit more to insure than an M3, $160 more per 6mth policy which was weird for essentially the same care minus a couple doors.

I would absolutely shop around. I'm in my early 30s and pay $750 every 6 months for insurance on my M3

[flsupraguy]

Lol you guys crack me up with these "I pay x". There are so many variables including what liability limits you have.....

[Ximian]

Someone messed up. Each of my M3s are 5x more to insurance over six months than my wife's XC90.

[Flying05]

Funny. My wife has a 2022 XC90 inscription and I have a 2022 G80 base. Mine is a couple hundred more per year and mine is even listed as low annual miles as my daily is a 2022 rubicon. I believe rates vary by market and and other factors. So mine is the opposite of you.

[LuxemburgBMV]

Yes I think I should just appreciate my low m3 rate and quit asking questions.