[velociti]

Originally Posted by ZPrime

Another thing worth being aware of - insurance rates are often tied to credit score. It's incredibly stupid (what does a credit score have to do with driving safely?)

I would bet you that there's plenty of actuarial evidence that shows a strong correlation between lower credit scores and increased likelihood of accidents/claims. For many -- though obviously not all -- poor credit is the result of poor financial choices. If such a person can't follow the financial "rules," then that's evidence that they may be more likely to not follow the rules of the road.

[hoyasaxa]

Originally Posted by omasou

Collision will fix you car.

If you have good health insurance why would you buy more and pay twice. That's why your doctor will ask you if your injury is related to an accident. Then you have the joy of letting you're car insurance and health insurance battle out who is paying. Fun times. Like I said some may not agree with me. I prefer to keep as much of my money as I can and not pay for things that might happen.

Because your health insurance isn't going to pay out $1MM if you can never work again

[akkando]

Originally Posted by hoyasaxa

Because your health insurance isn't going to pay out $1MM if you can never work again

Will and umbrella cover that?

[hoyasaxa]

Originally Posted by akkando

Will and umbrella cover that?

I'm not sure. I'd be interested in the answer.

[doug_999]

Originally Posted by hoyasaxa

I'm not sure. I'd be interested in the answer.

Originally Posted by akkando

Will and umbrella cover that?

I am not an insurance agent, however I am a State Farm customer, and I did sleep in a Holiday Inn last night.

So...

State Farm made me maximize all of my coverage's before they would write me an umbrella policy. Basically, they are not going to write you a discounted $2M umbrella policy that is paid for by lowering all of your coverage's.

[Aloha Joe]

Originally Posted by akkando

Will and umbrella cover that?

Nope

[Stevx]

I spent some time the past few days calling carriers to compare. It's amazing how much the costs and coverage vary even when you send the agents your current declarations pages and ask for the same coverages so you can compare apples to apples. Progressive was by far the cheapest, but their coverage is not the best. For example, they use non oem replacement parts. Same with Allstate, and they omitted uninsured/underinsured coverage. (That is insane!) Nationwide and State Farm were high. State Auto and Travellers offered the best coverage and price for me. Both were about 25% cheaper than Safeco, who I have now.

[omasou]

Originally Posted by hoyasaxa

Because your health insurance isn't going to pay out $1MM if you can never work again

That's income protection or long-term disability insurance. Might be different in your state, so please confirm w/your agent.

[hoyasaxa]

Originally Posted by omasou

That's income protection or long-term disability insurance. Might be different in your state, so please confirm w/your agent.

Per the Allstate website, bodily injury can be used for lost income: https://www.allstate.com/tools-and-r...insurance.aspx

[omasou]

Originally Posted by hoyasaxa

Per the Allstate website, bodily injury can be used for lost income: https://www.allstate.com/tools-and-r...insurance.aspx

That is bodily liability insurance which may or may not be similar to uninsured/uninsured. I'm not familiar with Allstate ever since Robert Kline made that "good hand" joke I've never even considered them.

[cornercase]

Which insurers have an OEM Parts Endorsement? I'm in California.

[Bluenose-2er]

Originally Posted by bi0hazard

yes, you're right. good quality insurance is ridiculously high. way more expensive than my new tahoe, which was 23K more msrp

Yes, but a Tahoe takes a nuclear strike to total.

[Bluenose-2er]

Originally Posted by M3 Adjuster

When I moved to Texas I heard a stat that around 28 % of drivers are uninsured. It's one of the highest in the nation. Border states typically have higher numbers of uninsured motorists.

Uninsured motorist coverage can really be of benefit in some states.

In Canada, you cannot register your car without proof of insurance. When I was young, I could never figure out how people in movies can buy a car and just start driving!

[LBBF87]

I have Allstate and my premiums are much higher then most here. Umbrella is included. It's about 80% of the premium for my M5 as well.

Allstate is known to be more expensive though.

[Tag]

Originally Posted by LBBF87

I have Allstate and my premiums are much higher then most here. Umbrella is included. It's about 80% of the premium for my M5 as well.

Allstate is known to be more expensive though.

Drop Allstate asap! I had a drunk driver do a hit and run (my car was parked without anyone in it) on one of my old bimmer's, left the car badly damaged. At the time I had Allstate and they decided to repair it even though most other insurers would have totaled it. I ended up eating a heavy loss on the car because of it (frame was bent). When I asked the autobody shop why they didn't total it they said Allstate is one of the few insurers that avoids totaling a car to evade big payouts. I dropped Allstate shortly afterwards and never looked back.

[bobert]

Geico (my current insurer) quoted me $494.10 for an M2 (6 month policy).

[lax01]

Insurance is the same cost a 2004 GT3...which is unbelievable.

USAA - Los Angeles - 33 - Six-Month Premium is $1,051.49 - and I only do 5000/yr as my mileage (500/500 and 100k/300k policy)

No accidents. Should have no tickets at this point.

I think its actually more than the GT3

[Ian ///M]

Originally Posted by lax01

Insurance is the same cost a 2004 GT3...which is unbelievable.

USAA - Los Angeles - 33 - Six-Month Premium is $1,051.49 - and I only do 5000/yr as my mileage (500/500 and 100k/300k policy)

No accidents. Should have no tickets at this point.

I think its actually more than the GT3

WUT

[lax01]

Originally Posted by Ian ///M

WUT

LA Living and not living in an up and coming area...plus USAA insurance is just plain expensive. I also have renter's insurance through them and get a discount because of that

[rich8566]

Originally Posted by rich8566

I've been with Liberty for a lifetime. They bumped me over $400/year moving from my 235i to the M2. I moved the M2 to Geico and I'm paying $1740/year vs $2400 with Liberty. That's an annual savings of $660. I'm in Westchester County NY. My coverage limits are 250/500 and I was also able to move from a $1k deductible to a $500 deductible. Included in the premium I'm also paying $15/month for mechanical coverage. Yeah, I know that means nearly nothing for the warranty period, but they'll let you keep this coverage on the car long term and that may actually pay off and it is far cheaper than buying BMWs mechanical coverage near the end of the warranty period. The mechanical coverage comes with a $250 deductible per incident, but during the warranty period it's only a $50 deductible. I also just took the defensive driving course online which should save $50-70 per year and is good for 3 years. Cost of the online course was about $37.

Update: I'm now paying $132.73 per month or about $1580 per year with GEICO. The drivers course helped bring the premium down.

[lax01]

Guys...there are so many variables with insurance. You have to post what your deductibles are and how many miles you insure the car for...

its not apples to apples numbers otherwise

Not to mention location plays a huge factor in the cost

[PGHM2]

Originally Posted by lax01

Guys...there are so many variables with insurance. You have to post what your deductibles are and how many miles you insure the car for...

its not apples to apples numbers otherwise

Not to mention location plays a huge factor in the cost

^ agreed. The biggest factor in car insurance is your credit score. Accidents, tickets, age, length of time driving, deductibles, etc are all pieces as well. One of the ways that car insurance can get you is by changing from 'full tort' to 'limited tort'. Big savings, unless you get in an accident. Not worth it overall.