Insurance Premium for 545

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Jun 9, 2010 | 12:06 PM

#21

rctmthouse

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Quote:

Originally Posted by mrbelk

I just called my insurance carrier (USAA), and got a guote for my 545i.

My coverage is this:
100k/300k for bodily injury
50k for property damage
50k for medical payments

100k/300k for uninsured motorist bodily injury
50k for uninsured motorist property damage

$0 deductible for comprehensive
$500 deductible for collision
$30/day and $900 max for rental reimbursement

My 6-month premiums will be $1240. That is for 2 cars (VW Passat GLS and BMW 545i). The car I will be replacing is a 2001 BMW 330i.

The new premium represents an 11% increase over my old premium.

-MrB

I recommend to increase the property damage from 50K to at least 100K, it only cost around 60 bucks more for the 6 month period but it's worth it for the peace of mind.

Jun 9, 2010 | 12:08 PM

#22

rctmthouse

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Quote:

Originally Posted by wasupdu

I don't think that's too unreasonable.

I'm 27 and married. State Farm Insurance. $500 deduct all the way around. I have all of the vehicles listed below as LOW MILEAGE (up to 7,000 miles each annually) which helps a lot price wise.

'05 BMW 525 - $54/month
'05 BMW Z4 3.0 - $46/month
'07 Yamaha R1 - $292/annual
'10 Toyota 4Runner - $45/month

Plus we have a homeowner's policy with them.

sorry but I just can't see "full coverage with 500 deductible each for collision and comprehensive" at $ 54 a month even for an '05 525.

Jun 9, 2010 | 12:10 PM

#23

pjinca

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Joined: May 2009

Posts: 10,496

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From: SoCal

My Ride: 2008 550I LOADED, all options except HUD and NV

Quote:

Originally Posted by rctmthouse

sorry but I just can't see "full coverage with 500 deductible each for collision and comprehensive" at $ 54 a month even for an '05 525.

I was thinking the same thing, I am 36/married/professional and we pay $2400/yr for and SUV and my 530 - full coverage with $500 deductible, good driving records and higher coverage limits.

Jun 9, 2010 | 12:15 PM

#24

heavy_g

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Joined: Oct 2007

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From: Los Angeles, CA

My Ride: '05 545i

Quote:

Originally Posted by pjinca

I was thinking the same thing, I am 36/married/professional and we pay $2400/yr for and SUV and my 530 - full coverage with $500 deductible, good driving records and higher coverage limits.

I'm 38/Married/Professional - We pay $1400 for C320 and 545i. full coverage with $500 deductible. Zero points for both of us. SoCal.

Jun 9, 2010 | 12:17 PM

#25

cmoore_

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Joined: Mar 2010

Posts: 196

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From: Atlanta, GA

My Ride: 545i/6

I'm 27 & definately have a less than steller driving record and I pay $220/mo with USAA. Policy has all the goodies too. I have kept my deductible at $1000 though.

Jun 12, 2010 | 11:46 AM

#26

bens1088

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From: Bay Area / Santa Barbara / Florida

Quote:

Originally Posted by toyota2bmw

+1000 :thumbsdown:
There is no way in hell he's paying that with just 5 years max of driving record. Not in CA unless he's living in the mountains somewhere and drive 5 miles a day. Even then it's a stretch.

I remember trying to get insurance when I first got my license. $4800 a year on a 2 year-old Mustang 5.0 that was worth $12k.

I have the paper work. I pay $349 semiannually and live in the Bay Area. We have multiple vehicle discounts, good driver, good student through costco (amex) insurance. Also I just checked and my limits are $250k-500k not 1M with $1k deductibles.
I attached a picture of a portion of my bill. I didn't feel like blurring everything out so I just put the column in. The nonelects are towing and rental.

I also pay $100 semiannually for my R6 for full coverage.

Attached Thumbnails

Jun 12, 2010 | 02:52 PM

#27

rctmthouse

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If it's 1K deductible then may be but are you sure it's full coverage, collision and comprehensive? Because if you have both, even at 1K deductible, then that's still a very good deal at 700/year.

Jun 12, 2010 | 08:49 PM

#28

pjinca

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Joined: May 2009

Posts: 10,496

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From: SoCal

My Ride: 2008 550I LOADED, all options except HUD and NV

Quote:

Originally Posted by bens1088

Multi vehicle discount? Is this policy shared with your parents maybe? That would explain it, a policy on your own would be triple that at minimum.

Jun 12, 2010 | 08:53 PM

#29

bens1088

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Joined: Dec 2009

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From: Bay Area / Santa Barbara / Florida

Quote:

Originally Posted by pjinca

Multi vehicle discount? Is this policy shared with your parents maybe? That would explain it, a policy on your own would be triple that at minimum.

Yeah its with my parents but the way it was explained to me is that the pricing is based on the youngest driver? Anyone an insurance agent? lol. The R6 is a policy on my own (that has all full coverage: 500 deduct., 500k limits etc) and is also really cheap for some reason.