06-14-2021, 08:18 PM | #1 |
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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? |
06-14-2021, 08:27 PM | #2 | |
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06-14-2021, 08:56 PM | #3 | |
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06-14-2021, 10:53 PM | #4 | |
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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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Drives: 2021 G80 M3
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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, 09:34 AM | #8 | |
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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, 01:57 PM | #10 |
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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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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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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 |
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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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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 |
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06-15-2021, 11:46 PM | #16 | |
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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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06-26-2021, 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, 01:53 AM | #20 |
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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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